Ed's Chesprocott Region Blog: January 2016 Real Estate Sales Report for Southington CT

January 2016 Real Estate Sales Report for Southington CT

Market Statistics for Southington CT January 2016

 

 January 2016 Real Estate Sales Report for Southington CT

 

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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. 

 

January 2016 Real Estate Sales Report for Southington CT

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. 

 January 2016 Real Estate Sales Report for Southington CT

 

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.

 

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January 2016 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 6 commentsEd Silva • February 27 2016 06:59AM

Comments

Great report!  I like the format...have a wonderful weekend too!

Posted by Kristin Johnston - REALTOR®, Giving Back With Each Home Sold! (RE/MAX Realty Center ) over 1 year ago

Hi Ed Silva, that doesn't sound like a large inventory, so buyers need to contact you.

Posted by Sybil Campbell, REALTOR® ABR, SFR, SRES Williamsburg, Virginia (Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia) over 1 year ago

Hi Ed.  Very informative report.  Thanks and have a good weekend.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) over 1 year ago

Ed it looks like Southington is trying to rebound back with all of the numbers going in the right direction.

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

Hi Ed, well done Southington CT market report. Have a great evening,

Posted by Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker) over 1 year ago

Hello Ed Silva 

Great market report on Southington CT - information that buyers and seller need.  They also need to contact you to represent them!

Posted by Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless! (Lisa Von Domek & Associates LLC Team) over 1 year ago

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