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Nov 22

What you need to know about the West Hartford real estate market

West Hartford, is a charming New England town located in the upper Northeast of the United States. Over the years, West Hartford has experienced a surge of residential and commercial development, providing residents with easier access to shopping and restaurants while bringing local employment to the area. With its growing economy, job opportunities, excellent school district, and family-friendly feel, the need for housing in the West Hartford market has never been greater. Zillow

Although home values continue to increase, the percentage of homeowners underwater on their mortgages represented 5.4% of West Hartford property owners. Furthermore, the number of foreclosure filings in 2019 was one in every 676 households, and Connecticut was ranked #7 in the United States for most foreclosures, which impacted the West Hartford area. Patch

Median home value in West Hartford

Since 2016, West Hartford home values have increased steadily. Currently, the median home value in West Hartford is $345,528. For homeowners who have owned property in the area for a while, this is great news. Cashing in on your available equity may be a great option. Even if you’ve owned a home for a short amount of time, there still may be options available. Crunchbase

$345,528

 

Increased housing prices

6.6%

As more and more people move to West Hartford, the demand for housing continues to increase. This is reflected in the 6.6% median home value increase compared to last year. This is a great sign if you’re looking to sell your house in West Hartford.

Delinquent mortgages in West Hartford

Delinquent mortgages in West Hartford sits at 1.4%. This number has decreased as of recently due to mortgage forbearance from the COVID 19 epidemic.

1.4%

When to sell your house in West Hartford

June

If you’re thinking about selling your house, the month of June is the best option. Typically, homeowners can sell for 9.2 percent higher than the rest of the year. The months of May, June, and July are the busiest months of the year and make up 40 percent of home sales for the entire year.

References:
https://www.zillow.com/homes/West-Hartford,-CT_rb/
https://www.movoto.com/west-hartford-ct/market-trends/
https://www.trulia.com/CT/West_Hartford/

Average cost of repairs in West Hartford

If you want to sell your house with an agent and want to get “market value”, more than likely, you’ll need to make some repairs. Those repairs can add up quickly and take thousands of dollars out of your pocket. When you sell to Sell My House 7, you sell your house in West Hartford as-is, which means you don’t have to pay for any repairs!