Mon Dec 04 2023
This week the median list price for Farmington, CT is $749,900 with the market action index hovering around 55. This is less than last month's market action index of 62. Inventory has decreased to 15.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$749,900|
|Median Price of New Listings||$527,450|
|Per Square Foot||$207|
|Average Days on Market||127|
|Median Days on Market||35|
|Strong Seller's Market|
Despite this week’s down tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,760,000||10,823||5 - 10 acres||5||7||76||0||1||182|
|$1,432,500||6,022||1 - 2.5 acres||5||5.3||70||0||0||77|
|$594,450||3,154||0.5 - 1 acre||3||3||42||1||0||7|
|$389,450||1,672||0.5 - 1 acre||3||2.3||57||1||1||14|