Market Statistics for Southington CT February 2017
Currently in Southington CT there are 186 active residential listings for sale, with 21 new listings being added in February. The homes for sale in Southington CT range from a 840 square ft, 2-bedroom mobile home listed at $29,900 to a 5,076 square ft, 4-bedroom, colonial listed at $799,999.
The average list price of the homes currently available for sale in Southington CT is $331,981. The average days on market for these homes are 139 days. In addition, there are currently 43 homes under contract in Southington CT, with 18 having gone under contract in February.
In February 2017, 19 homes closed in Southington CT. They ranged from a 672 square ft, 2-bedroom ranch, which sold for $97,750 to a 2,176 square ft, 4-bedroom colonial which sold for $430,000. The average price for the homes that closed in February in Southington CT was $251,616 with an average days on market of 65 days.
By comparison, there were 25 closings in Southington CT for the month of February 2016, with an average sales price of $265,497 and avg. days on market of 52. This shows that the number of homes sold as 6 less over the same period, and at an average price 13% less than the same period in 2016 and with slightly longer time on market.
For the year 2016, the market sales or absorption rate was 41 sales per month, with an average sales value of $289,036 and average days on market of 64. This rate with the current inventory would be a 5+ month absorption rate. The current market is considered a seller’s market, which means a buyer needs to be well prepared before making an offer on a home.
The graph demonstrates the average monthly sales value in Southington CT for the previous 12 month period with modest if any gains 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.
February 2017 Real Estate Sales Report for Southington CT
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