Hoye Home Team's Market Report

Farmington, CT 06032

Single-Family Homes

Berkshire Hathaway Home Services | www.hoyehometeam.com | 860-983-0875



Farmington, CT 06032

Thu Mar 28 2024
This week the median list price for Farmington, CT 06032 is $971,500 with the market action index hovering around 63. This is an increase over last month's market action index of 54. Inventory has decreased to 4. Click here to stay informed with the Farmington market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Farmington, CT 06032

Thu Mar 28 2024
This week the median list price for Farmington, CT 06032 is $971,500 with the market action index hovering around 63. This is an increase over last month's market action index of 54. Inventory has decreased to 4. Click here to stay informed with the Farmington market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Real-Time Market Profile

Never miss important changes in the Farmington market.
Median List Price $971,500
Median Price of New Listings $0
Per Square Foot $228
Average Days on Market 72
Median Days on Market 53
Price Decreased 50%
Price Increased 0%
Relisted 25%
Inventory 4
Median Rent
Market Action 63
Strong Seller's Market

Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$1,699,000 4,439 5 - 10 acres 5 4.5 77 0 0 147
$1,345,000 7,553 0.5 - 1 acre 4 5 31 0 1 63
$598,000 2,560 1 - 2.5 acres 2 2 50 0 0 42
$240,000 1,068 0.25 - 0.5 acre 2 1 89 0 1 35