December 2013 Real Estate Sales Report for Southington CT

December 2013 Real Estate Sales Report for Southington CT

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Currently in Southington CT there are 175 active residential listings for sale, with 22 new listings being added in December. 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 $330,448. The average days on market for these homes are 109 days. In addition, there are currently 52 homes under contract in Southington CT, with 4 having gone under contract in December.

In December, 25 homes closed in Southington CT. They ranged from a 1,184 square ft, 2-bedroom cape home, which sold for $85,000 to a 2,531 square ft, 3-bedroom, ranch which sold for $510,000. The average price for the homes that closed in December in Southington CT was $241,356 with an average days on market of 63 days.  The closed properties had a Sales price to List price ratio of 94.3%.

By comparison, there were 29 closings in Southington CT for the month of December 2012, with an average sales price of $332,062 and avg. days on market of 97. This indicates that for December of 2013, there were 4 more homes sold compared to December 2012, at an average price of almost 20% lower with more time on market. Southington CT is demonstrating an inconsistent market.

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.

For the fourth quarter of 2013, the market sales or absorption rate for Southington CT was 35 sales per month, with an average sales value of $281,111 and average days on market of 72.This would project that the current inventory of homes is equivalent to a 5 month 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.

December 2013 Real Estate Sales Report for Southington CT