January 2017 Real Estate Sales Report for Southington CT

Market Statistics for Southington CT January 2017

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Currently in Southington CT there are 171 active residential listings for sale, with 28 new listings being added in January. The homes for sale in Southington CT range from a 840 square ft, 2-bedroom mobile home listed at $29,900 to a 5,076 square ft, 4-bedroom, colonial listed at $799,999.

The average list price of the homes currently available for sale in Southington CT is $326,741. The average days on market for these homes are 150 days. In addition, there are currently 34 homes under contract in Southington CT, with 7 having gone under contract in January.

In January 2017, 23 homes closed in Southington CT. They ranged from a 1,248 square ft, 2-bedroom mobile home, which sold for $114,000 to a 4,005 square ft, 4-bedroom colonial which sold for $557,000. The average price for the homes that closed in January in Southington CT was $270,712 with an average days on market of 56 days. 

By comparison, there were also 23 closings in Southington CT for the month of January 2016, with an average sales price of $249,237 and avg. days on market of 83. This shows that the number of homes sold was identical over the same period, but at an average price 8% greater than the same period in 2016 and with slightly less time on market.

For the year 2016, the market sales or absorption rate was 41 sales per month, with an average sales value of $289,036 and average days on market of 64. This rate with the current inventory would be a 5+ month absorption rate. The current market is considered a seller’s market, which means a buyer needs to be well prepared before making an offer on a home.

The graph demonstrates the average monthly sales value in Southington CT for the previous 12 month period with modest if any gains 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 greater values.

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 2017 Real Estate Sales Report for Southington CT