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

March 2016 Real Estate Sales Report for Southington CT

Market Statistics for Southington CT March 2016

 

 March 2016 Real Estate Sales Report for Southington CT

 

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Currently in Southington CT there are 242 active residential listings for sale, with 50 new listings being added in March. 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.

 

The average list price of the homes currently available for sale in Southington CT is $352,678. The average days on market for these homes are 103 days. In addition, there are currently 46 homes under contract in Southington CT, with 11 having gone under contract in March.

 

 March 2016 Real Estate Sales Report for Southington CT

In March 2016, 40 homes closed in Southington CT. They ranged from a 1,490 square ft, 3-bedroom split-level, which sold for $70,875 to a 4,130 square ft, 5-bedroom colonial which sold for $560,000. The average price for the homes that closed in March in Southington CT was $283,827 with an average days on market of 93 days. The closed properties had a Sales price to List price ratio of 98.1%.

 

By comparison, there were 29 closings in Southington CT for the month of March 2015, with an average sales price of $272,881 and avg. days on market of 70. This indicates that for March of 2016, there were 11 more homes sold than in March 2015, and at an average price $9,000 higher than the same period in 2015 with slightly more 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.

For the first quarter of 2016, the market sales or absorption rate for Southington CT was 29 sales per month, with an average sales value of $269,579 and average days on market of 79. This rate with the current inventory would be a 8+ month absorption rate. The current market is still considered a buyer’s market.

 

 March 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 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.

 

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March 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 4 commentsEd Silva • April 26 2016 05:35PM

Comments

Hello Ed Silva  great market report for the month of March on Southington-Ct  Buyers and sellers would be smart to contact you when looking to make a move as you are the local expert

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) about 2 years ago

Good morning Ed. Glad to see some improvement, hopefully there will be more improvement going forward.

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) about 2 years ago

Ed - What a great looking report!    I haven't done one in a while - you are my mentor and inspiration!

Posted by Dagny Eason, Fairfield County CT, CDPE Homes For Sale and Condo (Dagny's Real Estate) about 2 years ago

Excellent market report on Southington CT real estate market, Ed.   

Posted by Rebecca Gaujot, Realtor®, Lewisburg WV, the go to agent for all real estate (Perry Wellington Realty, Adam Conrad, Broker) about 2 years ago

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