Market Statistics for Southington CT January 2019
Currently in Southington CT there are 163 active residential listings for sale, with 43 new listings being added in January. The homes for sale in Southington CT range from a 920 square ft, 3-bedroom mobile home listed at $78,000 to a 4,975 square ft, 4-bedroom, contemporary ranch listed at $850,000.
The average list price of the homes currently available for sale in Southington CT is $357,107. The average days on market for these homes are 148 days. In addition, there are currently 39 homes under contract in Southington CT, with 9 having gone under contract in January.
In January 2019, 17 homes closed in Southington CT. They ranged from a 800 square ft, 2-bedroom half duplex, which sold for $77,000 to a 2,119 square ft, 3-bedroom new construction ranch which sold for $595,400. The average price for the homes that closed in January in Southington CT was $268,906 with an average days on market of 71 days. The closed properties had a Sales price to List price ratio of 96%.
By comparison, there were 31 closings in Southington CT for the month of January2018, with an average sales price of $309,131 and avg. days on market of 37. This indicates that for January of 2019, there were 14 less homes sold than in January 2018, at an average price 15% less than the same period in 2018 with slightly longer time on market.
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.
This rate with the current inventory would be a 4 month absorption rate. The current market is considered a strong seller’s market, which means a buyer needs to be well prepared before making an offer on a home.
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 be demonstrating a shift to greater values with the exception of the January decline which could be more 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.
January 2019 Real Estate Sales Report for Southington CT
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