Southington CT Real Estate Sales Report for February 2013
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Currently in Southington CT there are 200 active residential listings for sale, with 16 new listings being added in February. The homes for sale in Southington CT range from a 720 square ft, 2-bedroom mobile home listed at $24,800 to a 6,500 square ft, 5-bedroom, colonial estate on 2 acres listed at $884,900.
The average list price of the homes currently available for sale in Southington CT is $319,729. The average days on market for these homes are 117 days. In addition, there are currently 60 homes under contract in Southington CT, with 14 having going under contract in February.
In February, 20 homes closed in Southington CT. They ranged from a 1,020 square ft, 2-bedroom mobile home, which sold for $70,000 to a 2,500 square ft, 4-bedroom, colonial which sold for $454,000. The average price for the homes that closed in February in Southington CT was $263,788 with an average days on market of 85 days. The closed properties had a Sales price to List price ratio of 93.8%.
By comparison, there were 10 closings in Southington CT for the month of February 2012, with a median sales price of $382,500 and avg. days on market of 77. This indicates that for February of 2013, there were twice the number of homes sold compared to February 2012, at a median price almost 40% 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 7.5 month inventory. The current market is still a 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.
Southington CT Real Estate Sales Report for February 2013
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