How resilient is the Hartford, CT housing market?

While the US residential housing market is recovering on a steady trajectory, the market still has not recovered to its pre-recession highs. The median home value in US is still only 86% of the nation's pre-recession high, and only 34% of homes have had their values surpass their pre-recession peak values, according to Trulia.

The Hartford-West Hartford-East Hartford, CT metro area follows the trend, only with median home values reaching only 74% of pre-recession peaks.

As a company providing lawn service to homes in Hartford-West Hartford-East Hartford, CT, it is in our best interest to fully understand and track all changes within the region's housing market. So we decided to publish some of our research so those interested can better understand the Hartford-West Hartford-East Hartford, CT housing market.

Methodology

We took historical data of Zillow's Housing Value Index - a measure for median home value - and adjusted the index for inflation using the Consumer Price Index (All Items Less Shelter), as recommended by the FHFA. We collected data at nationwide, state, metro and city levels.

From there, we compared current home values to their pre-recession peaks to understand how resilient the Hartford-West Hartford-East Hartford, CT area is relative to Connecticut, the US, and other metro areas. We summarized the findings in an interactive data visualization, found at the bottom of the page.

Key Findings

The median home value in Hartford-West Hartford-East Hartford, CT has reached $223k - 74% of the area's pre-recession peak of $303k.
In terms of recovery, the region is behind the US and ahead of Connecticut. Home values in these regions have reached 86% and 70% of peak values, respectively.
Hartford-West Hartford-East Hartford ranks #79 among top 100 metro areas in the country in terms of recovery, and #411 across all metros.
Of metro areas in Connecticut, Hartford-West Hartford-East Hartford ranks #1 in terms of recovery.

Most Resilient Cities in the Hartford-West Hartford-East Hartford, CT Metro Area

West Hartford
Hartland
Farmington
Burlington
Canton
Suffield
Simsbury
Glastonbury
Berlin
Broad Brook

Most Resilient Metros in CT

Hartford-West Hartford-East Hartford, CT
Norwich-New London, CT
Bridgeport-Stamford-Norwalk, CT
New Haven-Milford, CT
Torrington, CT

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<div style="clear:both"><a href="http://lawnstarter.com/hartford-ct-lawn-care/hartford-ct-housing-recovery-fall-2017"><img src="https://s3.amazonaws.com/www.lawnstarter.com/housing-recovery-fall-2017/Hartford-CT-Housing-Recovery-Fall-2017.png" width="100%" style="max-width:700px" title="How resilient is the Hartford, CT housing market? by Lawnstarter.com" alt="How resilient is the Hartford, CT housing market? by Lawnstarter.com" border="0" /></a><br><p>This graphic is brought to you by <a href="https://www.lawnstarter.com/hartford-ct-lawn-care">LawnStarter Hartford</a>.</div>

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<div style="clear:both"><a href="http://lawnstarter.com/hartford-ct-lawn-care/hartford-ct-housing-recovery-fall-2017"><img src="https://s3.amazonaws.com/www.lawnstarter.com/housing-recovery-fall-2017/Hartford-CT-Housing-Recovery-Fall-2017.png" width="100%" style="max-width:700px" title="How resilient is the Hartford, CT housing market? by Lawnstarter.com" alt="How resilient is the Hartford, CT housing market? by Lawnstarter.com" border="0" /></a><br><p>This graphic is brought to you by <a href="https://www.lawnstarter.com/hartford-ct-lawn-care">LawnStarter Hartford</a>.</div>

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