Sales of single-family houses in greater Hartford rose 2.9 percent in September, but the time it takes to sell a dwelling also grew, a local Realtor group says.
The number of sale closings rose to 742 in September from 721 to 742 the same month a year ago, according to the Greater Hartford Association of Realtors.
Association CEO Jeff Arakelian attributed most of the rise to the $8,000 tax credit for first-time homebuyers.
Pending sales also increased 16.5 percent to 976 from 838, while the median sale price dropped 4.4 percent to $230,000 from $220,000. New listings and inventory decreased by 9.14 percent and 6.82 percent, respectively.
The average days a home spent on the market increased to 69 days last month from 64 days a year earlier.
Condominium closed sales remained unchanged in the Greater Hartford market from this time last year. The median sale price dropped 2.9 percent from $170,000 to $165,000. Inventory rose 4.2 percent while condos spent an average of 93 days on the market, up from 78 days a year ago.