Kate Rossi

The Coldwell Banker Residential Brokerage Cares Foundation, the philanthropic arm of Coldwell Banker Residential Brokerage in Connecticut and Westchester County, N.Y., distributed more than $60,000 to community programs in 2007. The funds were raised through a variety of efforts, such as golf tournaments, raffles and direct donations.

“The mission of Coldwell Banker Residential Brokerage Cares Foundation is to support programs and services that address housing issues in our local communities,” said Kate Rossi, president and chief operating officer of the firm. “We’re very pleased that our efforts in 2007 were beneficial to these organizations. The success is due, in no small part, to the efforts of our dedicated sales associates and staff.”

Sales associates and employees participate through regular paycheck contributions and fund-raising events. In 2007, the foundation made donations to the Katie Blair House, Life Haven Inc., Martin House, My Sisters’ Place, St. Vincent de Paul Place, South Windsor Human Services and Village for Families & Children.

The foundation is a nonprofit organization operated by Coldwell Banker Residential Brokerage for the purpose of raising funds to provide help and assistance to the communities in which they serve, with a focus on providing shelter, particularly to children and families.

The firm operates more than 50 offices with more than 2,200 sales associates. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest residential real estate brokerage company. NRT is a subsidiary of Realogy Corp.

Greater Hartford Sales Up

Greater Hartford’s pending sales for single-family homes posted a month-to-month increase of 23.2 percent in January, climbing to 630 from 484 in December, according to the Greater Hartford Association of Realtors.

At the same time, new listings showed an increase of 54.8 percent, from 720 to 1,594. Inventory decreased from 4,870 in December to 4,838 in January, while the average number of days a home spent on the market increased by 15.38 percent, from 66 to 78 days. Closed sales decreased 14.8 percent, from 550 in December to 479 in January.

Compared to January 2007, home inventory increased 6.1 percent, and the average number of days a home was on the market increased 16.4 percent. During that period, the median sale price of single-family homes decreased 3.2 percent to $245,000, while closed sales decreased by 20.3 percent.

“January’s home sales closings reflect homes that were put under contract November and December and the seasonal lull in buying and selling activity during the holidays,” said Greater Hartford Association of Realtors President and Chief Executive Officer Jeff Arakelian. “The fact that pending sales have increased in January is very positive sign. In spite of natural contractions in winter real estate activity, median home prices have remained within a stable 3-5 percent range during the past few months. With recent reductions in mortgage rates, the Greater Hartford housing market should follow a predicted national trend of gradual improvement into the second half of this year.”

In contrast with the single-family home trend, the condominium median price for January increased 7.6 percent, from $167,250 in January 2007 to $180,000. In addition, the average days a condominium was on market decreased by 3.2 percent, from 62 to 60 days. However, closed sales decreased by 57 percent, from 244 to 105 condominiums, and inventory increased 11.2 percent, from 1354 to 1,506 condominiums.

The Greater Hartford Association of serves 4,300 members in the 57-town Greater Hartford real estate brokerage community. The association provides technology, training, networking and business support to members.