Is Farmington, CT a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Farmington is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Farmington has remained a Seller's Market.

Key Takeaway

Farmington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Farmington, CT

How much do homes in Farmington, CT cost?

Median Sold Price

$483,500

$226/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$112,500(+30.3%)

Key Takeaway

Homes in Farmington have sold for 30.3% more than they did a year ago.

Summary: The median home sold price in Farmington was $483,500 in November 2024, up 30.3% from last year, and the median price per square foot was $226.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $135K$187.5K
+38.9%
2 $261K$292.5K
+12.1%
3 $385K$480K
+24.7%
4 $585.5K$715K
+22.1%
5+ $1.0M$1.2M
+13.7%

Summary: Farmington housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 38.9%, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 24.7%, 4 bedroom homes increased by 22.1%, and 5+ bedroom homes increased by 13.7%.

Median Sold Price Compared To Nearby Cities

Farmington
+30.3%
Plainville
+20.8%
Unionville
+16.5%
Avon
+15.4%
New Britain
+13.0%

Housing Supply in Farmington, CT

How many homes are available in Farmington, CT?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
9774-23.7%

Summary: The Farmington real estate market had 74 homes for sale in November 2024, a 23.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 42
-50.0%
2 2827
-3.6%
3 3527
-22.9%
4 156
-60.0%
5+ 1512
-20.0%

Summary: The Farmington housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 3.6%, 3 bedroom homes decreased by 22.9%, 4 bedroom homes decreased by 60%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2917-41.4%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Farmington, you could pay more than the asking price. 58.8% of homes here sold above asking price last month.

Summary: A total of 17 homes were sold or pending in Farmington in November 2024, down by 41.4% month-over-month. Of the 17 sold homes, 29% were sold under asking, 12% were sold at asking, and 59% were sold over asking.

Days on Market for Farmington, CT

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 7 Days Ago

Newest Listings in Farmington, CT

Nearby Markets to Farmington, CT

What housing markets are near Farmington, CT?