Hoye Home Team's Market Report

Farmington, CT

Single-Family Homes

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



Farmington, CT

Tue May 28 2024
This week the median list price for Farmington, CT is $1,247,500 with the market action index hovering around 82. This is an increase over last month's market action index of 75. Inventory has decreased to 4. 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

Tue May 28 2024
This week the median list price for Farmington, CT is $1,247,500 with the market action index hovering around 82. This is an increase over last month's market action index of 75. Inventory has decreased to 4. 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 $675,000
Per Square Foot $272
Average Days on Market 9
Median Days on Market 11
Price Decreased 0%
Price Increased 0%
Relisted 0%
Inventory 4
Median Rent
Market Action 82
Strong Seller's Market

This week prices bumped up a bit but the trend of recent weeks is generally downward. A pickup in demand will be reflected in the Market Action Index, so watch that chart to try to identify a change in the market.

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 14
$1,500,000 6,284 0.5 - 1 acre 5 5.5 23 0 1 7
$995,000 3,953 1 - 2.5 acres 4 4 47 0 0 14
$675,000 2,300 1 - 2.5 acres 4 2.5 41 1 2 0