Southington CT Real Estate Sales Report for March 2013
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Currently in Southington CT there are 220 active residential listings for sale, with 51 new listings being added in March. The homes for sale in Southington CT range from a 648 square ft, 2-bedroom mobile home listed at $20,000 to a 8,065 square ft, 6-bedroom, colonial estate on 2 acres listed at $995,000.
The average list price of the homes currently available for sale in Southington CT is $328,742. The average days on market for these homes are 105 days. In addition, there are currently 65 homes under contract in Southington CT, with 21 having going under contract in March.
In March, 41 homes closed in Southington CT. They ranged from a 864 square ft, 2-bedroom mobile home, which sold for $34,500 to a 3,200 square ft, 4-bedroom, colonial which sold for $660,188. The average price for the homes that closed in March in Southington CT was $247,650 with an average days on market of 121 days. The closed properties had a Sales price to List price ratio of 94.8%.
By comparison, there were 36 closings in Southington CT for the month of March 2012, with a median sales price of $237,500 and avg. days on market of 109. This indicates that for March of 2013, there were slightly more homes sold compared to March 2012, at a median price of 4% lower with slightly more time on market. Southington CT is demonstrate an improved market for number of units but not an increase in value.
For the year 2012, the market sales or absorption rate was 27 sales per month, with an average sales value of $295,616 and average days on market of 77. Using the same absorption rate, the current inventory of homes is equivalent to a 9+ month inventory. The current market is still a buyer’s market.
The graph demonstrates the average monthly sales value in Southington CT for 2012 with strong fluctuations from month to month. The values in Southington CT have not yet started to stabilize.
For sellers it is essential to have a sales price on your home consistent with the most recent activity. We offer free market evaluations to assist you in your sale.
If you would like information on homes for sale in Southington CT please call me at 203-206-0754 or send me an email. I would be happy to assist you or to discuss homes on the market in Southington CT.
Southington CT Real Estate Sales Report for March 2013
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