Market Statistics for Southington CT January 2016
Currently in Southington CT there are 215 active residential listings for sale, with 20 new listings being added in January. The homes for sale in Southington CT range from a 732 square ft, 2-bedroom mobile home listed at $19,900 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 $331,162. The average days on market for these homes are 126 days. In addition, there are currently 43 homes under contract in Southington CT, with 22 having gone under contract in January.
In January 2016, 23 homes closed in Southington CT. They ranged from a 1,037 square ft, 3-bedroom cape, which sold for $83,000 to a 3,086 square ft, 4-bedroom, colonial which sold for $515,000. The average price for the homes that closed in January in Southington CT was $249,237 with an average days on market of 83 days. The closed properties had a Sales price to List price ratio of 96%.
By comparison, there were 22 closings in Southington CT for the month of January 2015, with an average sales price of $254,406 and avg. days on market of 97. This indicates that for January of 2016, there was 1 additional home sold as in January 2015, and at an average price $5,000 less than the same period in 2015 with less time on market. This is not a positive trend for the area.
For the year 2015, the market sales or absorption rate was 37 sales per month, with an average sales value of $294,478 and average days on market of 65. Using the 2015 absorption rate for the current inventory gives a 6 month inventory of homes. The current market would be considered trending to a seller's market.
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 a slight increase through the 3rd quarter of the year and then a reversing trend for 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.
January 2016 Real Estate Sales Report for Southington CT
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Ed Silva Mapleridge Realty, LLC, 203-206-0754