Market Statistics for Southington CT May 2014
Currently in Southington CT there are 261 active residential listings for sale, with 65 new listings being added in May. The homes for sale in Southington CT range from a 792 square ft, 2-bedroom mobile home listed at $63,000 to a 10,099 square ft, 4-bedroom, country manor estate on 9 acres listed at $4,900,000.
The average list price of the homes currently available for sale in Southington CT is $357,156. The average days on market for these homes are 83 days. In addition, there are currently 69 homes under contract in Southington CT, with 32 having gone under contract in May.
In May, 36 homes closed in Southington CT. They ranged from a 763 square ft, 2-bedroom ranch, which sold for $57,750 to a 3,665 square ft, 4-bedroom, new construction colonial which sold for $636,145. The average price for the homes that closed in May in Southington CT was $277,148 with an average days on market of 59 days. The closed properties had a Sales price to List price ratio of 98%.
By comparison, there were 40 closings in Southington CT for the month of May 2013, with an average sales price of $281,425 and avg. days on market of 36. This indicates that for May of 2014, there were 4 more homes sold compared to May 2013, at an average price of .05% greater with more time on market. Southington CT is demonstrating a stabilizing to improved market for value only.
For the year 2013, the market sales or absorption rate was 36 sales per month, with an average sales value of $287,112 and average days on market of 75. This would project that the current inventory of homes is equivalent to a 7 month inventory, which is a slight 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 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 a seller’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.
May 2014 Real Estate Sales Report for Southington CT