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

August 2016 Real Estate Sales Report for Southington CT

Market Statistics for Southington CT August 2016

 

 August 2016 Real Estate Sales Report for Southington CT

 

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Currently in Southington CT there are 237 active residential listings for sale, with 42 new listings being added in August. The homes for sale in Southington CT range from a 1,072 square ft, 2-bedroom mobile home listed at $35,000 to a 8,049 square ft, 4-bedroom, colonial estate listed at $1,900,000.

 

The average list price of the homes currently available for sale in Southington CT is $369,734. The average days on market for these homes are 110 days. In addition, there are currently 41 homes under contract in Southington CT, with 12 having gone under contract in August.

 

 August 2016 Real Estate Sales Report for Southington CT

In August 2016, 64 homes closed in Southington CT. They ranged from a 924 square ft, 2-bedroom mobile home, which sold for $55,000 to a 3,662 square ft, 4-bedroom colonial which sold for $587,000. The average price for the homes that closed in August in Southington CT was $290,785 with an average days on market of 43 days.  The closed properties had a Sales price to List price ratio of 98.1%.

 

By comparison, there were 42 closings in Southington CT for the month of August 2015, with an average sales price of $324,947 and avg. days on market of 61. This indicates that for August of 2016, there were 22 more homes sold than in August 2015, and at an average price $10% less than the same period in 2015 with slightly 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.

 

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 10+ month absorption rate. The current market is still considered a buyer’s market.

 

For the second quarter of 2016, the market sales or absorption rate for Southington CT was 44 sales per month, with an average sales value of $301,189 and average days on market of 63. This rate with the current inventory would be a 6+ month absorption rate. The current market is still considered a buyer’s market, however trending to a neutral market.

 

August 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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August 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 2 commentsEd Silva • September 24 2016 06:09PM

Comments

Top of the morning.  A lot of good information here.  With a price range from $35,000 to 2,000,000 one can not complain for lack of choices.  Mark

Posted by Mark Don McInnes, Sandpoint, North Idaho Real Estate - 208-255.6227 almost 2 years ago

Ed Silva Thank you for taking the time to share this vital information.  It is so professional!  This is just the type of information that buyers and sellers need to make informed decisions!  Well done!

Posted by Jim Crawford, Jim Crawford Atlanta Best Listing Agents & REALTOR (RE/MAX Paramount Properties) almost 2 years ago

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