July 11, 2012

Hartford among top U.S. homebuyers' markets

Hartford is one of the 10 best U.S. markets for homebuyers, based on its relatively low pricing, an online realty data service says.

Hartford ranked 9th, behind other such buyers' markets as Chicago, Milwaukee and Cleveland metro areas, with homes taking longer to sell and buyers logging average discounts of 5 percent off the asking price.

Meantime, home sellers are thriving in the San Francisco, San Jose and Las Vegas metro areas, where price cuts are relatively uncommon and homes often sell for at or near their asking price, Zillow said.

Zillow says it analyzed data on sale-to-list price ratio, number of days listings spent on Zillow and percent of homes on the market with a price cut, and ranked the 50 largest metro areas to determine whether buyers or sellers have more negotiating power in a given market.

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