Market Statistics for Southington CT February 2014
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Currently in Southington CT there are 209 active residential listings for sale, with 41 new listings being added in February. The homes for sale in Southington CT range from a 576 square ft, 1-bedroom mobile home listed at $8,000 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 $351,178. The average days on market for these homes are 102 days. In addition, there are currently 42 homes under contract in Southington CT, with 9 having gone under contract in February.
In February, 21 homes closed in Southington CT. They ranged from a 1,171 square ft, 3-bedroom ranch, which closed as a short sale for $52,000 to a 3,124 square ft, 4-bedroom, new construction colonial which sold for $618,125. The average price for the homes that closed in February in Southington CT was $294,995 with an average days on market of 66 days. The closed properties had a Sales price to List price ratio of 96%.
By comparison, there were 20 closings in Southington CT for the month of February 2013, with an average sales price of $263,788 and avg. days on market of 85. This indicates that for February of 2014, there were almost the same number of homes sold compared to February 2013, at an average price of 10% greater with less time on market. Southington CT is demonstrating a stabilizing to improved 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 5.8 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.
February 2014 Real Estate Sales Report for Southington CT
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