October 2013 Real Estate Sales Report for Southington CT
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Currently in Southington CT there are 212 active residential listings for sale, with 31 new listings being added in October. The homes for sale in Southington CT range from a 576 square ft, 1-bedroom mobile home listed at $14,000 to a 10,099 square ft, 4-bedroom, country manor estate on 9 acres listed at $4,900,000.
The average list price of the homes currently available for sale in Southington CT is $343,211. The average days on market for these homes are 122 days. In addition, there are currently 49 homes under contract in Southington CT, with 9 having gone under contract in October.
In October, 47 homes closed in Southington CT. They ranged from a 792 square ft, 2-bedroom mobile home, which sold for $54,000 to a 4,800 square ft, 4-bedroom, colonial which sold for $680,000. The average price for the homes that closed in October in Southington CT was $307,896 with an average days on market of 64 days. The closed properties had a Sales price to List price ratio of 96.4%.
By comparison, there were 29 closings in Southington CT for the month of October 2012, with an average sales price of $285,621 and avg. days on market of 69. This indicates that for October of 2013, there were 45% more homes sold compared to October 2012, at an average price of 9% higher with less 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.
For the third quarter of 2013, the market sales or absorption rate for Southington CT was 43 sales per month, with an average sales value of $296,822 and average days on market of 64.This would project that the current inventory of homes is equivalent to a 5.3month inventory, which is a seller’s 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 for the first half of the year and stability for the second half. The values in Southington CT appear to have stabilized and the market is demonstrating a shift to a stabile 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.
October 2013 Real Estate Sales Report for Southington CT
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