Hoye Home Team's Market Report

Farmington, CT

Single-Family Homes

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



Farmington, CT

Mon Jun 24 2024
This week the median list price for Farmington, CT is $1,434,500 with the market action index hovering around 78. This is less than last month's market action index of 85. Inventory has increased to 12. 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

Market appears to have begun to cool. As we’re still notably in a Seller’s market, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Farmington, CT

Mon Jun 24 2024
This week the median list price for Farmington, CT is $1,434,500 with the market action index hovering around 78. This is less than last month's market action index of 85. Inventory has increased to 12. 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

Market appears to have begun to cool. As we’re still notably in a Seller’s market, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Farmington market.
Median List Price $1,434,500
Median Price of New Listings $549,900
Per Square Foot $297
Average Days on Market 13
Median Days on Market 7
Price Decreased 17%
Price Increased 0%
Relisted 8%
Inventory 12
Median Rent
Market Action 78
Strong Seller's Market

The market continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index as a leading indicator for how long this trend will last.

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
$2,999,900 9,667 1 - 2.5 acres 5 8 18 0 0 7
$1,495,000 5,478 0.5 - 1 acre 5 5 27 0 1 7
$634,900 2,745 1 - 2.5 acres 4 4 41 0 2 21
$549,900 1,965 0.5 - 1 acre 3 3 51 1 2 7