Hoye Home Team's Market Report

Farmington, CT

Single-Family Homes

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



Farmington, CT

Thu Sep 16 2021
This week the median list price for Farmington, CT is $557,300 with the market action index hovering around 54. This is less than last month's market action index of 55. Inventory has decreased to 28. 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

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Farmington, CT

Thu Sep 16 2021
This week the median list price for Farmington, CT is $557,300 with the market action index hovering around 54. This is less than last month's market action index of 55. Inventory has decreased to 28. 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

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Farmington market.
Median List Price $557,300
Median Price of New Listings $312,450
Per Square Foot $186
Average Days on Market 80
Median Days on Market 42
Price Decreased 32%
Price Increased 7%
Relisted 11%
Inventory 28
Median Rent $1,750
Market Action 54
Strong Seller's Market

The market seems to have paused around this plateau. 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
$1,189,000 6,650 1 - 2.5 acres 6 5 67 0 1 84
$650,000 3,410 0.5 - 1 acre 4 2 31 0 1 42
$494,999 2,592 0.5 - 1 acre 4 2 55 1 3 28
$279,900 1,545 0.25 - 0.5 acre 3 2 73 1 3 7