January 2014 Real Estate Sales Report for Southington CT

January 2014 Real Estate Sales Report for Southington CT

Search for Homes in Southington CT

Currently in Southington CT there are 185 active residential listings for sale, with 22 new listings being added in January. The homes for sale in Southington CT range from a 576 square ft, 1-bedroom mobile home listed at $10,000 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 $339,346. The average days on market for these homes are 109 days. In addition, there are currently 41 homes under contract in Southington CT, with 14 having gone under contract in January.

In January, 33 homes closed in Southington CT. They ranged from a 924 square ft, 2-bedroom mobile home, which sold for $45,000 to a 4,127 square ft, 4-bedroom, colonial which sold for $685,000. The average price for the homes that closed in January in Southington CT was $306,441 with an average days on market of 138 days.  The closed properties had a Sales price to List price ratio of 98.5%.

By comparison, there were 27 closings in Southington CT for the month of January 2013, with an average sales price of $309,201 and avg. days on market of 115. This indicates that for January of 2014, there were 6 more homes sold compared to January 2013, at an average price of 1% lower with more time on market. Southington CT is demonstrating a stabilizing market.

For the year 2013, the market sales or absorption rate was 36 sales per month, with an average sales value of $287,112 and average days on market of 75. 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 seller’s 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.

January 2014 Real Estate Sales Report for Southington CT