Market Statistics for Southington CT January 2015
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Currently in Southington CT there are 171 active residential listings for sale, with 27 new listings being added in January. The homes for sale in Southington CT range from a 854 square ft, 2-bedroom mobile home listed at $25,000 to a 3,700 square ft, 5-bedroom, colonial estate listed at $984,900.
The average list price of the homes currently available for sale in Southington CT is $331,917. The average days on market for these homes are 102 days. In addition, there are currently 49 homes under contract in Southington CT, with 13 having gone under contract in January.
In January 2015, 22 homes closed in Southington CT. They ranged from a 1,170 square ft, 2-bedroom mobile home, which sold for $108,000 to a 2,615 square ft, 3-bedroom ranch which sold for $430,000. The average price for the homes that closed in January in Southington CT was $254,406 with an average days on market of 97 days. The closed properties had a Sales price to List price ratio of 96%.
By comparison, there were 32 closings in Southington CT for the month of January 2014, with an average sales price of $302,716 and avg. days on market of 117. This indicates that for January of 2015, there were 10 less homes sold as compared to January 2014, at an average price 21% lower than the same as 2014 with similar time on market.
For the year 2014, the market sales or absorption rate was 37 sales per month, with an average sales value of $295,968 and average days on market of 75. Using the me absorption for the current inventory, the Southington market is a seller's market with a 5 month inventory of homes.
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 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.
January 2015 Real Estate Sales Report for Southington CT
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