Southington CT Real Estate Sales Report for January 2013
Currently in Southington CT there are 195 active residential listings for sale, with 57 new listings being added in January. The homes for sale in Southington CT range from a 672 square ft, 2-bedroom mobile home listed at $25,000 to a 6,500 square ft, 5-bedroom, colonial estate on 2 acres listed at $884,900.
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The average list price of the homes currently available for sale in Southington CT is $279,500. The average days on market for these homes are 128 days. In addition, there are currently 50 homes under contract in Southington CT, with 15 having going under contract in January.
In January, 27 homes closed in Southington CT. They ranged from a 1,608 square ft, 3-bedroom colonial, which sold for $82,000 to a 3,236 square ft, 4-bedroom, colonial which sold for $750,000. The median price for the homes that closed in January in Southington CT was $271,000 with an average days on market of 115 days. The closed properties had a Sales price to List price ratio of 94.65%.
By comparison, there were 13 closings in Southington CT for the month of January 2012, with a median sales price of $305,000 and avg. days on market of 116. This indicates that for January of 2013, there were twice the number of homes sold compared to January 2012, at a median price almost 12% lower with slightly more time on market, which would demonstrate an improved market for number of units but not an increase in value.
For the year 2012, the market sales or absorption rate was 27 sales per month, with an average sales value of $295,616 and average days on market of 77. Using the same absorption rate, the current inventory of homes is equivalent to a 7 month inventory. The current market is still a strong buyer’s market.
The graph demonstrates the average monthly sales value in Southington CT for 2012 with strong fluctuations from month to month. The values in Southington CT have not yet started to stabilize.
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.
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