Southington CT 2020 Year End Real Estate Market Analysis

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

Southington CT 2020 Year End Real Estate Market Analysis

The year 2020 was an unusual year for so many reasons.  With the pronouncement of the pandemic back in mid February of the year, the world watched in disbelief as the virus spread at an incredibly fast pace and affected all ages all over the  world.

As business ground to a slow halt, it was a matter of where could one go and how safe would we be.  In the world of real estate, the exuberance of the business that had started in 2019 started to slow the enthusiasm as people became wary of venturing into homes not knowing who was there or their health. Likewise, sellers were wary of having people come into their homes and possibly bringing in a bacterial issue that would infect their families.

In spite of this, after a brief pause the market in Southington began its rise and finished the year strong.

 Southington CT 2020 Year End Real Estate Market Analysis

For the year 2019, the market sales or absorption rate was 42 sales per month, with an average sales value of $299,638 and average days on market of 69.

For the year 2020, the market sales or absorption rate was almost 50 sales per month, with an average sales value of $318,072 and average days on market of 45. Even though the values saw a mild increase over the year of app 5%, the overall figures were very positive for the year and going into 2021 they appear to be continuing the momentum. 

 Southington CT 2020 Year End Real Estate Market Analysis

While sales appear to be consistent and maybe even lag the previous year, it was a decidedly strong market as there were less listings put up and competition for those that were as aggressive.

The New Year will start off with a strong report as there are 44 listings currently going through the closing process and as the weather gets warmer more activity will surely hit the market.

Southington CT 2020 Year End Real Estate Market Analysis 

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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Southington CT 2020 Year End Real Estate Market Analysis

 

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Whether looking to buy or sell, we service the Greater Waterbury towns of Beacon Falls, Bethany, Cheshire, Naugatuck, Middlebury, Southington, Thomaston, Waterbury, Watertown and Wolcott 

 

Ed Silva  Mapleridge Realty, LLC,   203-206-0754

Comments (11)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Ed this is another encouraging market report.  Let's hope 2021 continues to show positive numbers.

Jan 28, 2021 12:38 PM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

George Souto   The market in Southington offers a types of opportunities and it is aggressive right now

Jan 28, 2021 03:57 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good Friday morning, Ed. I hope you are enjoying a very productive month.

Jan 29, 2021 04:53 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Ed, Seems Southington has opportunities for sellers to call you, and get their homes SOLD!

Jan 29, 2021 06:25 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Ed Silva I am surprised at your market still being such a value. Obviously your buyers see it too as they are taking up your inventory

Jan 29, 2021 06:46 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Ed, even with COVID, Southington CT looks to have survived and surpassed for 2020!  

Jan 29, 2021 08:44 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Enjoy the weekend, Ed.

We are waiting for the arrival of the winter storm in Maryland.

Jan 30, 2021 08:00 AM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400   It has something for everybody and I have been getting opportunities to help people there as well.

Rocky Dickerson   Our mid-state values have been averaging $290,000 so there  are opportunities.  The buyers who are really finding it difficult are those looking at $250,000 and lower as that becomes a heated market.

Jan 30, 2021 08:45 AM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Joan Cox   Covid has not had a great effect on values, just showings.

Roy Kelley   Thanks, but that storm will effect us on Monday and we are watching that closely

Jan 30, 2021 08:46 AM
Roy Kelley

You do not want to be driving in the DC area on Monday

Jan 30, 2021 10:09 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hi there, Ed Silva   - Robust real estate sales seem like the big surprise of 2020. Who knew a pandemic would bring out the buyers? Good recap and summary for your market. Have a good weekend. D

Jan 30, 2021 09:01 AM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Debb Janes EcoBroker and Bernie Stea JD   A good portion of the boost comes from NY state buyers trying to get out of overly crowded situations

Jan 30, 2021 09:08 AM