Southington CT Real Estate Sales Report for September 2012
Currently in Southington CT there are 247 active residential listings for sale, with 34 new listings being added in September. The homes for sale in Southington CT range from a 864 square ft, 2-bedroom mobile home listed at $49,900 to a 6,500 square ft, 5-bedroom, colonial estate on 2 acres listed at $929,000.
The average list price of the homes currently available for sale in Southington CT is $334,761. The average days on market for these homes are 119 days. In addition, there are currently 49 homes under contract in Southington CT, with 10 having going under contract in September.
In September, 25 homes closed in Southington CT. They ranged from a 720 square ft, 2-bedroom, mobile home, which sold for $18,000 to a 2,700 square ft, 3-bedroom, ranch which sold for $525,000. The average price for the homes that closed in September in Southington CT was $290,506 with an average Days on Market of 79 days. The closed properties had a Sales price to List price ratio of 95.5%.
By comparison, there were 20 closings in Southington CT for the month of September 2011, with an average price of $249,045 and avg. days on market of 76. This indicates that for September of 2012, there were 20% less homes sold, at a higher price and the same number of average days on market.
For the year 2011, the market sales or absorption rate was 24 sales per month, with an average sales value of $273,398 and average days on market of 94.
For the first 9 months of 2012, the market sales or absorption rate was 25 sales per month, with an average sales value of $288,403 and average days on market of 77. The current inventory of homes is equivalent to a 10+ month inventory.
By comparison to 2011, the current market is selling at the same number of homes per month, but the values are averaging 4.6% higher, with slightly less days on market. The current market is still a very strong buyer’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.