Closed sales of single-family homes in the Greater Hartford area increased for the 10th consecutive month in December, up 27.24 percent to 696 from 547 at the same time last year. According to the Greater Hartford Association of Realtors (GHAR), pending sales rose 14.52 percent, to 560 from 489, and the median sale price decreased 1.17 percent, to $207,450 from $209,900. New listings decreased 12.36 percent, to 645 from 736, and inventory dropped 9.77 percent. The average number of days on-market decreased 6.74 percent during this same period. In year to date statistics, closed sales increased 20.07 percent, to 8,711 from 7,255, and pending sales also increased 20.63 percent. "Although the closed sales numbers are encouraging, I would feel even better about the housing market recovery when prices stabilize or increase," said GHAR President and CEO Jeff Arakelian in a statement.
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