Market Statistics for Southington CT February 2016
Currently in Southington CT there are 215 active residential listings for sale, with 48 new listings being added in February. The homes for sale in Southington CT range from a 696 square ft, 2-bedroom mobile home listed at $25,900 to a 8,049 square ft, 4-bedroom, colonial estate listed at $3,999,900.
Th average list price of the homes currently available for sale in Southington CT is $322,337. The average days on market for these homes are 113 days. In addition, there are currently 46 homes under contract in Southington CT, with 11 having gone under contract in February.
In February 2016, 25 homes closed in Southington CT. They ranged from a 864 square ft, 2-bedroom ranch, which sold for $55,180 to a 2,481 square ft, 3-bedroom colonial which sold for $513,899. The average price for the homes that closed in February in Southington CT was $265,497 with an average days on market of 52 days. The closed properties had a Sales price to List price ratio of 95.6%.
By comparison, there were 20 closings in Southington CT for the month of February 2015, with an average sales price of $267,009 and avg. days on market of 72. This indicates that for February of 2016, there were 5 more homes sold than in February 2015, and at an average price $2,000 higher than the same period in 2015 with less time on market.
For the year 2015, the market sales or absorption rate was 37 sales per month, with an average sales value of $294,538 and average days on market of 65. Using the same absorption for the current inventory, the Southington market is a seller's market with a 6 month inventory of homes, which would be considered a neutral 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 stability for the second half. The values in Southington CT appear to not yet stabilized but the market is demonstrating a shift to a neutral market.
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.
February 2016 Real Estate Sales Report for Southington CT
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