Market Statistics for Southington CT March 2019
Currently in Southington CT there are 197 active residential listings for sale, with 43 new listings being added in March. The homes for sale in Southington CT range from a 1,050 square ft, 2-bedroom mobile home listed at $59,900 to a 4,975 square ft, 4-bedroom, contemporary ranch listed at $799,500.
The average list price of the homes currently available for sale in Southington CT is $337,949. The average days on market for these homes are 118 days. In addition, there are currently 46 homes under contract in Southington CT, with 12 having gone under contract in March.
In March 2019, 34 homes closed in Southington CT. They ranged from a 1,220 square ft, 2-bedroom half duplex, which sold for $72,500 to a 3,841 square ft, 5-bedroom colonial which sold for $560,000. The average price for the homes that closed in March in Southington CT was $282,316 with an average days on market of 71 days. The closed properties had a Sales price to List price ratio of 98%.
By comparison, there were 19 closings in Southington CT for the month of March 2018, with an average sales price of $290,886 and avg. days on market of 74. This indicates that for March of 2019, there were 15 more homes sold than in March 2018, at an average price of 3% less than the same period in 2018 with slightly longer time on market. This shows a greater increase in activity for the town.
For the year 2018, the market sales or absorption rate was 37 sales per month, with an average sales value of $312,416 and average days on market of 50.
For the first quarter of 2019, the market sales or absorption rate for Southington CT was 27 sales per month, with an average sales value of $295,849 and average days on market of 76. This rate with the current inventory would be a 7 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 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 are demonstrating inconsistencies in sales which could be most likely because of the weather.
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 2019 Real Estate Sales Report for Southington CT