Market Statistics for Southington CT March 2016
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Currently in Southington CT there are 242 active residential listings for sale, with 50 new listings being added in March. The homes for sale in Southington CT range from a 696 square ft, 2-bedroom mobile home listed at $25,900 to a 8,049 square ft, 4-bedroom, colonial estate listed at $3,999,900.
The average list price of the homes currently available for sale in Southington CT is $352,678. The average days on market for these homes are 103 days. In addition, there are currently 46 homes under contract in Southington CT, with 11 having gone under contract in March.
In March 2016, 40 homes closed in Southington CT. They ranged from a 1,490 square ft, 3-bedroom split-level, which sold for $70,875 to a 4,130 square ft, 5-bedroom colonial which sold for $560,000. The average price for the homes that closed in March in Southington CT was $283,827 with an average days on market of 93 days. The closed properties had a Sales price to List price ratio of 98.1%.
By comparison, there were 29 closings in Southington CT for the month of March 2015, with an average sales price of $272,881 and avg. days on market of 70. This indicates that for March of 2016, there were 11 more homes sold than in March 2015, and at an average price $9,000 higher than the same period in 2015 with slightly more time on market.
For the year 2015, the market sales or absorption rate was 37 sales per month, with an average sales value of $294,538 and average days on market of 65.
For the first quarter of 2016, the market sales or absorption rate for Southington CT was 29 sales per month, with an average sales value of $269,579 and average days on market of 79. This rate with the current inventory would be a 8+ month absorption rate. The current market is still considered 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 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 greater values.
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.
March 2016 Real Estate Sales Report for Southington CT
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