Southington CT Real Estate Sales Report for May 2013

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Real Estate Agent with RE/MAX Professionals, CT 203-206-0754 REB.0759001
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Southington CT Real Estate Sales Report for May 2013

 

 Southingtpon CT market statistics

 

Search for Homes in Southington CT

Currently in Southington CT there are 243 active residential listings for sale, with 58 new listings being added in May. The homes for sale in Southington CT range from a 672 square ft, 2-bedroom mobile home listed at $16,000 to a 8,065 square ft, 6-bedroom, colonial estate on 2 acres listed at $899,900.

The average list price of the homes currently available for sale in Southington CT is $323,450. The average days on market for these homes are 101 days. In addition, there are currently 64 homes under contract in Southington CT, with 20 having going under contract in May.

Southington CT Market Statistics

In May, 40 homes closed in Southington CT. They ranged from a 720 square ft, 2-bedroom mobile home, which sold for $21,000 to a 3,984 square ft, 4-bedroom, colonial which sold for $750,000. The average price for the homes that closed in May in Southington CT was $281,425 with an average days on market of 36 days.  The closed properties had a Sales price to List price ratio of 96.2%.

By comparison, there were 27 closings in Southington CT for the month of May 2012, with an average sales price of $282,500 and avg. days on market of 87. This indicates that for May of 2013, there were 45% more homes sold compared to May 2012, at an average price of 1/2% lower with less time on market. Southington CT is demonstrating 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.

 

 Southington CT Market Statistics

For the first quarter of 2013, the market sales or absorption rate for Southington CT was 29 sales per month, with an average sales value of $207,203 and average days on market of 112. This would project that the current inventory of homes is equivalent to an 8 month inventory, which is a still a buyer’s market.

 

The graph demonstrates the average monthly sales value in Southington CT for the previous 12 month period 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 May 2013

 

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Whether looking to buy or sell, we service the Greater Waterbury towns of Beacon Falls, Bethany, Cheshire, Naugatuck, Middlebury, Southington, Thomaston, Waterbury, Watertown and Wolcott 

Ed Silva  RE/MAX Professionals,   203-206-0754

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Rainmaker
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Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
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243 is a good number? I think so at least. :)

Jun 25, 2013 02:03 PM #1
Rainmaker
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Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Hopefully the trend in Southington will continue to move in a positive direction. Nice job with the report.

Jun 25, 2013 06:28 PM #2
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Ed, these are very positive numbers in my book.  Even though the Sales Price average is down, it is only down by .5%.  That is as close to a break even as you get, and I would take that in exchange for 45% more sales any day of the week :)

Jun 26, 2013 02:59 AM #3
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