Data shows Hartford markets remained strong in April
A tech company that monitors real estate visits found markets in New Haven, Bridgeport and Hartford were among the busiest in the country in April.
ShowingTime, a Chicago-based display and market statistics provider and a subsidiary of Zillow, found that Bridgeport reported a 6% increase in year-over-year showings-to-listing ratio, for an average of 14.55 screenings per ad.
New Haven’s screening-to-listing ratio increased 1% year-over-year, averaging 13.48 screenings per listing. Both cities ranked among the top 25 markets nationally for their circulation-to-listing ratio, a sign of increased competition among buyers.
Overall U.S. real estate listings slowed in April, with buyer demand down 10.7% year-on-year, according to ShowingTime. Only 103 markets across the country recorded double-digit projections per listing in April, compared to 146 in April 2021 and 121 in March 2022.
By region, the Northeast saw an 8.6% drop in buyer demand, with the Midwest seeing the smallest drop with a 7.3% year-over-year decline. The declines were most pronounced in the South, with an 11.6% drop in posted activity year-over-year, and in the West with a 35.3% drop.
ShowingTime attributed the overall declines to both lower demand and comparisons to record 2021 demand, adding that “the numbers continue to point to robust buyer activity,” according to a statement.
Burlington, Vt., Hartford and Lewiston, Maine are other areas of high buyer activity in the region.
Contact Liese Klein at [email protected]