Hoye Home Team's Market Report

Farmington, CT

Single-Family Homes

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



Farmington, CT

Wed May 22 2024
This week the median list price for Farmington, CT is $1,247,500 with the market action index hovering around 79. This is an increase over last month's market action index of 72. Inventory has decreased to 6. 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

Wed May 22 2024
This week the median list price for Farmington, CT is $1,247,500 with the market action index hovering around 79. This is an increase over last month's market action index of 72. Inventory has decreased to 6. 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 $1,247,500
Median Price of New Listings $1,069,500
Per Square Foot $283
Average Days on Market 2
Median Days on Market 0
Price Decreased 0%
Price Increased 0%
Relisted 0%
Inventory 6
Median Rent
Market Action 79
Strong Seller's Market

Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend.

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
$3,199,900 10,398 1 - 2.5 acres 6 8 13 0 0 7
$1,595,000 5,618 1 - 2.5 acres 5 6 23 1 0 0
$1,247,500 5,119 1 - 2.5 acres 4 4.8 35 1 0 3
$479,450 2,142 0.5 - 1 acre 2 2.5 56 2 1 0