August 11, 2017

Report: Greater Hartford asking prices rise for business sales

The median asking price for 149 Greater Hartford businesses listed for sale in the second quarter climbed 25 percent compared to a year ago, on the tailwinds of a national trend, according to San Francisco-based BizBuySell.com, a web-based business-for-sale marketplace.

Nine of those Hartford area businesses sold in the second quarter, according to BizBuySell.com.

Nationally, a total of 2,534 closed deals were reported in the second quarter of 2017, a 31 percent increase from this time last year, the web marketer reported.

BizBuySell.com reported that the nine properties sold in the Hartford region represented a decrease from the 11 sold in the same period a year ago, but provided other data showing that sellers benefited from increasing sale prices.

The median asking price of businesses for sale in Hartford during the second quarter was $199,000 up from $159,000 in the year-ago period. Likewise, businesses listed for sale had a median revenue of $530,951, up from $400,000 at this same time last year.

Median cash flow for Hartford businesses was $99,000 in the second quarter vs. $78,604 in the second quarter of 2016, the report states.

The data came from Hartford, Middlesex and Tolland counties.

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