Hoye Home Team's Market Report
Farmington, CT
Single-Family Homes
Berkshire Hathaway Home Services | www.hoyehometeam.com | 860-983-0875
Farmington, CT
Fri Apr 23 2021
This week the median list price for Farmington, CT is $749,900 with the market action index hovering around 62. This is an increase over last month's market action index of 57. Inventory has held steady at or around 23.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $749,900 | |
| Per Square Foot | $181 | |
| Days on Market | 14 | |
| Price Decreased | 17% | |
| Price Increased | 9% | |
| Relisted | 4% | |
| Inventory | 23 | |
| Median Rent | $1,750 | |
| Most Expensive | $3,850,000 | |
| Least Expensive | $299,000 | |
| Market Action | 62 | |
| Strong Seller's Market | ||
Despite this week’s up 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.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,489,000 | 7,100 | 5 - 10 acres | 5 | 5 | 29 | 1 | 0 | 161 |
| $824,000 | 4,730 | 1 - 2.5 acres | 4 | 4 | 16 | 2 | 1 | 10 |
| $617,000 | 3,430 | 0.5 - 1 acre | 4 | 3 | 36 | 2 | 2 | 31 |
| $374,500 | 1,870 | 0.5 - 1 acre | 3 | 2 | 72 | 3 | 2 | 3 |