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 September 2021

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.

How much do homes in Farmington, CT cost?

Median Sold Price

$354,000

$179/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

-$2,166(-0.6%)

Key Takeaway

Homes in Farmington have sold for 0.6% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 $102.5K$118K
+15.1%
2 $199.9K$230K
+15.0%
3 $355K$356K
0.3%
4 $510K$539.5K
+5.8%
5+ $750K$773.5K
+3.1%

Median Sold Price Compared To Nearby Cities

Avon
+17.9%
Unionville
+17.5%
New Britain
+13.3%
Plainville
+9.2%
Farmington
-0.6%

How many homes are available in Farmington, CT?

Number of Homes For Sale

Aug 2022Sep 2022%
126120-4.8%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 22
0.0%
2 2627
+3.8%
3 4943
-12.2%
4 3027
-10.0%
5+ 1921
+10.5%

Number of Homes Sold

Aug 2022Sep 2022%
3142+35.5%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

25 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. 59.5% of homes here sold above asking price last month.

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

About Farmington, CT

There are 120 homes are for sale in Farmington, CT real estate market. The number of listings in Farmington, CT decreased by 4.8% between August 2022 and September 2022. From August 2022 through September 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties went up by 15.1%, 2 bedrooms properties prices increased by 15%, 3 bedrooms properties became 0.3% more expensive, 4 bedrooms properties became 5.8% more expensive, prices of 5 bedrooms properties increased by 3.1%. Housing inventory have changed in this real estate market: 1 bedroom homes did not move, 2 bedrooms homes became 3.8% more available, 3 bedrooms homes inventory decreased by 12.2%, volume of 4 bedrooms homes went down by 10%, the quantity of 5 bedrooms homes went up by 10.5%. In September 2022, from all listings sold in Farmington, CT there were more than 25 sold above asking price, over 10 sold below and more than 7 were sold right at the asked price.

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