Hoye Home Team's Market Report

Farmington, CT

Single-Family Homes

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


Farmington, CT

Fri Jul 26 2024
This week the median list price for Farmington, CT is $1,380,000 with the market action index hovering around 71. This is less than last month's market action index of 76. Inventory has increased to 15. 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 the Seller’s zone, 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

Fri Jul 26 2024
This week the median list price for Farmington, CT is $1,380,000 with the market action index hovering around 71. This is less than last month's market action index of 76. Inventory has increased to 15. 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 the Seller’s zone, 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 $1,380,000
Median Price of New Listings $474,900
Per Square Foot $275
Average Days on Market 24
Median Days on Market 21
Price Decreased 33%
Price Increased 7%
Relisted 0%
Inventory 15
Median Rent
Market Action 71
Strong Seller's Market

Prices continue their climb again this week. We’re a long way from the market’s price high-point so watch the Market Action Index as an indicator of 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
$2,895,000 9,577 1 - 2.5 acres 5 7 18 0 0 35
$1,797,500 6,283 1 - 2.5 acres 5 5 31 1 0 14
$999,450 3,754 1 - 2.5 acres 4 4 68 0 2 38
$487,400 1,400 0.5 - 1 acre 3 2 71 2 2 10