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December 2016 Real Estate Sales Report for Southington CT

By
Real Estate Agent with Mapleridge Realty, CT 203-206-0754 REB.0759001

Market Statistics for Southington CT December 2016

 

December 2016 Real Estate Sales Report for Southington CT 

 

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Currently in Southington CT there are 166 active residential listings for sale, with 11 new listings being added in December. The homes for sale in Southington CT range from a 840 square ft, 2-bedroom mobile home listed at $29,900 to a 5,160 square ft, 4-bedroom, colonial estate listed at $898,000.

 

The average list price of the homes currently available for sale in Southington CT is $326,131. The average days on market for these homes are 156 days. In addition, there are currently 29 homes under contract in Southington CT, with 4 having gone under contract in December.

 

 December 2016 Real Estate Sales Report for Southington CT

In December 2016, 41 homes closed in Southington CT. They ranged from a 912 square ft, 3-bedroom ranch, which sold for $115,000 to a 2,678 square ft, 4-bedroom new construction colonial which sold for $520,800. The average price for the homes that closed in December in Southington CT was $270,712 with an average days on market of 68 days. The closed properties had a Sales price to List price ratio of 96.8%.

 

By comparison, there were 40 closings in Southington CT for the month of December 2015, with an average sales price of $286,258 and avg. days on market of 70. This indicates that for December of 2016, there was 1 more home sold than in December 2015, but at an average price 5% less than the same period in 2015 with slightly longer 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 10+ month absorption rate. The current market is still considered a buyer’s market.

For the second quarter of 2016, the market sales or absorption rate for Southington CT was 44 sales per month, with an average sales value of $301,189 and average days on market of 63.

For the third quarter of 2016, the market sales or absorption rate for Southington CT was 52 sales per month, with an average sales value of $290,506 and average days on market of 55.

For the fourth quarter of 2016, the market sales or absorption rate for Southington CT was 39 sales per month, with an average sales value of $289,512 and average days on market of 63. This rate with the current inventory would be a 5+ month absorption rate. The current market is considered a seller’s market, which means a buyer needs to be well prepared before making an offer on a home.

 

 December 2016 Real Estate Sales Report for Southington CT

 

The graph demonstrates the average monthly sales value in Southington CT for the previous 12 month period with modest if any gains 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.

 

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December 2016 Real Estate Sales Report for Southington CT

 

Posted by

 

Edward (Ed) Silva
Broker Associate

Serving Central Connecticut Sellers and Buyers

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Comments (1)

MichelleCherie Carr Crowe .Just Call. 408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Thank you for sharing an update on what's happening in your local Real Estate market!

Jan 26, 2017 06:41 PM