What’s the Southington CT Real Estate Market Doing?
Search for Homes in Southington CT
Currently in Southington CT there are 246 active residential listings for sale, with 56 new listings being added in July. The homes for sale in Southington CT range from a 854 square ft, 2-bedroom mobile home listed at $20,000 to a 8,069 square ft, 6-bedroom, colonial estate on 2 acres listed at $849,900.
The average list price of the homes currently available for sale in Southington CT is $326,638. The average days on market for these homes are 101 days. In addition, there are currently 72 homes under contract in Southington CT, with 26 having going under contract in July.
In July, 42 homes closed in Southington CT. They ranged from a 648 square ft, 2-bedroom mobile home, which sold for $16,000 to a 3,128 square ft, 4-bedroom, colonial which sold for $640,000. The average price for the homes that closed in July in Southington CT was $279,348 with an average days on market of 75 days. The closed properties had a Sales price to List price ratio of 98%.
By comparison, there were 28 closings in Southington CT for the month of July 2012, with an average sales price of $269,438 and avg. days on market of 41. This indicates that for July of 2013, there were only 25% more homes sold compared to July 2012, at an average price of 4% higher with more time on market. Southington CT is demonstrating an improved market for number of units and 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.
For the first quarter of 2013, the market sales or absorption rate for Southington CT was 29 sales per month, with an average sales value of $207,203 and average days on market of 112.
For the second quarter of 2013, the market sales or absorption rate for Southington CT was 36 sales per month, with an average sales value of $289,252 and average days on market of 63.This would project that the current inventory of homes is equivalent to an 6.8 month inventory, which is almost a neutral market.
The graph demonstrates the average monthly sales value in Southington CT for the previous 12 month period with strong fluctuations from month to month. The values in Southington CT appear to have stabilized and the market is demonstrating a slight shift to a neutral market.
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.
What’s the Southington CT Real Estate Market Doing?
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