Hoye Home Team's Market Report

Farmington, CT

Single-Family Homes

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



Farmington, CT

Mon Jan 17 2022
This week the median list price for Farmington, CT is $549,950 with the market action index hovering around 49. This is less than last month's market action index of 50. Inventory has held steady at or around 14. 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

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Farmington, CT

Mon Jan 17 2022
This week the median list price for Farmington, CT is $549,950 with the market action index hovering around 49. This is less than last month's market action index of 50. Inventory has held steady at or around 14. 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

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Farmington market.
Median List Price $549,950
Median Price of New Listings $492,000
Per Square Foot $213
Average Days on Market 153
Median Days on Market 102
Price Decreased 21%
Price Increased 0%
Relisted 7%
Inventory 14
Median Rent $925
Market Action 49
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
$1,588,800 6,800 2.5 - 5 acres 5 6.5 20 0 0 105
$849,900 3,753 1 - 2.5 acres 4 3.5 1 0 0 175
$505,950 2,818 1 - 2.5 acres 4 3.3 66 2 0 73
$339,000 1,461 0.5 - 1 acre 3 1.8 79 1 1 38