Hoye Home Team's Market Report
Farmington, CT
Single-Family Homes
Berkshire Hathaway Home Services | www.hoyehometeam.com | 860-983-0875
Farmington, CT
Fri Jun 02 2023
This week the median list price for Farmington, CT is $1,595,000 with the market action index hovering around 72. This is less than last month's market action index of 79. Inventory has decreased to 7.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.
Real-Time Market Profile
| Median List Price | $1,595,000 | |
| Median Price of New Listings | $1,100,000 | |
| Per Square Foot | $299 | |
| Average Days on Market | 239 | |
| Median Days on Market | 56 | |
| Price Decreased | 14% | |
| Price Increased | 0% | |
| Relisted | 0% | |
| Inventory | 7 | |
| Median Rent | ||
| Market Action | 72 | |
| 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 |
|---|---|---|---|---|---|---|---|---|
| $3,350,000 | 10,823 | 5 - 10 acres | 5 | 7 | 116 | 0 | 0 | 931 |
| $2,197,450 | 5,986 | 2.5 - 5 acres | 5 | 6.3 | 62 | 0 | 0 | 189 |
| $1,395,000 | 6,344 | 1 - 2.5 acres | 6 | 6.3 | 141 | 0 | 0 | 161 |
| $704,950 | 2,876 | 0.5 - 1 acre | 3 | 3.8 | 138 | 1 | 1 | 21 |