Market Statistics for Southington CT April 2019
Currently in Southington CT there are 218 active residential listings for sale, with 63 new listings being added in April. The homes for sale in Southington CT range from a 1,050 square ft, 2-bedroom mobile home listed at $59,900 to a 4,965 square ft, 4-bedroom, contemporary ranch listed at $758,000.
The average list price of the homes currently available for sale in Southington CT is $343,425. The average days on market for these homes are 112 days. In addition, there are currently 64 homes under contract in Southington CT, with 22 having gone under contract in April.
In April 2019, 32 homes closed in Southington CT. They ranged from a 800 square ft, 2-bedroom half duplex, which sold for $109,900 to a 2,629 square ft, 4-bedroom colonial which sold for $564,900. The average price for the homes that closed in April in Southington CT was $307,000 with an average days on market of 87 days. The closed properties had a Sales price to List price ratio of 99%.
By comparison, there were 48 closings in Southington CT for the month of April 2018, with an average sales price of $344,884 and avg. days on market of 40. This indicates that for April of 2019, there were 16 less homes sold than in April 2018, at an average price of 11% less than the same period in 2018 with slightly longer time on market. This shows a drop off 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 and the change in interest rates.
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.
April 2019 Real Estate Sales Report for Southington CT