Ed's Chesprocott Region Blog: October 2015 Real Estate Sales Report for Southington CT

October 2015 Real Estate Sales Report for Southington CT

Market Statistics for Southington CT October 2015

 

 October 2015 Real Estate Sales Report for Southington CT

 

Search for Homes in Southington CT

 

Currently in Southington CT there are 265 active residential listings for sale, with 64 new listings being added in October. The homes for sale in Southington CT range from a 696 square ft, 2-bedroom mobile home listed at $31,900 to a 8,049 square ft, 4-bedroom, colonial estate listed at $3,999,900.

 

The average list price of the homes currently available for sale in Southington CT is $340,491. The average days on market for these homes are 105 days. In addition, there are currently 32 homes under contract in Southington CT, with 14 having gone under contract in October.

 

October 2015 Real Estate Sales Report for Southington CT

 

In October 2015, 36 homes closed in Southington CT. They ranged from a 1,450 square ft, 4-bedroom colonial, which sold for $110,000 to a 4,570 square ft, 4-bedroom, new construction colonial which sold for $747,800. The average price for the homes that closed in October in Southington CT was $282,250 with an average days on market of 47 days.  The closed properties had a Sales price to List price ratio of 98.1%.

 

By comparison, there were 40 closings in Southington CT for the month of October 2014, with an average sales price of $302,234 and avg. days on market of 68. This indicates that for October of 2015, there were 4 less homes sold as in October 2014, and at an average price 10% less than the same period in 2014 with longer time on market.

 

For the year 2014, the market sales or absorption rate was 37 sales per month, with an average sales value of $295,968 and average days on market of 75.

 

For the first quarter of 2015, the market sales or absorption rate for Southington CT was 23 sales per month, with an average sales value of $265,140 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 2015, the market sales or absorption rate for Southington CT was 41 sales per month, with an average sales value of $298,030 and average days on market of 71. 

 

For the third quarter of 2015, the market sales or absorption rate for Southington CT was 44 sales per month, with an average sales value of $305,833 and average days on market of 56. This rate with the current inventory would be a 6+ month absorption rate. The current market would be considered trending to a neutral market

 

 Southington CT Market trends Oct 2015

 

 

The graph demonstrates the average monthly sales value in Southington CT for the previous 12 month period with strong fluctuations 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.

 

 Homes for sale in Southington CT

 

October 2015 Real Estate Sales Report for Southington CT

 

 

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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  RE/MAX Professionals,  www.edwardsilva.com  203-206-0754

Comment balloon 8 commentsEd Silva • November 29 2015 06:10PM

Comments

thanks for keeping us up to date on what is going on in Southington Ct - have a great week.

Posted by Lise Howe, Assoc. Broker and Attorney Licensed in DC, MD, VA, (Long and Foster) over 1 year ago

Good evening Ed Silva ,  It's nice to see your figures continually going up.  Have a great week.

Posted by Larry Johnston, Broker,Friends & Neighbors Real Estate, Elkhart,IN (Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC) over 1 year ago

Good morning Ed. I can imagine that the 4 million dollar property in Southington must really be something, but a tough sell. Very well done report.

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) over 1 year ago

 Good Monday morning Ed. Thank you for keeping us abreast of what is happening in your local market area.

Posted by TeamCHI - Complete Home Inspections, Inc., Home Inspectons - Nashville, TN area - 615.661.029 (Complete Home Inspections, Inc.) over 1 year ago

Great Market Report. Thanks for the information on the local community sales!

Posted by Bob Baesmann, DFW Team Realty | 972-978-8800 ( DFW Team Realty) over 1 year ago

Ed, great overview for Southington, and looks like there are some beautiful homes in this community. 

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) over 1 year ago

Nice report Ed Silva ... Appreciate the comparisons to 2014 and love that current trend line as it moves to the right.

Posted by Rene Fabre, New Media Marketing (First American Title) over 1 year ago

Ed the market might be a little down in Southington, but it is a keeper compared to several other towns in CT. 

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 1 year ago

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