$4,036 Closing Credit*
$339,900
1,402 SqFt
2 Beds
•2 Full Baths, 1 Partial
Lou Mira, Listing Office: Coldwell Banker Realty
Is Farmington, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 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
$476,666
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$119,600(+33.5%)
Key Takeaway
Homes in Farmington have sold for 33.5% more than they did a year ago.
Summary: The median home sold price in Farmington was $476,666 in September 2024, up 33.5% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | $190K | +40.7% |
| 2 Bedrooms | $251K | $286K | +13.9% |
| 3 Bedrooms | $382.5K | $475K | +24.2% |
| 4 Bedrooms | $566K | $710K | +25.4% |
| 5+ Bedrooms | $1.0M | $1.2M | +15.4% |
Summary: Farmington housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 40.7%, 2 bedroom homes increased by 13.9%, 3 bedroom homes increased by 24.2%, 4 bedroom homes increased by 25.4%, and 5+ bedroom homes increased by 15.4%.
Median Sold Price Compared To Nearby Cities
| Farmington | $357K | $476.6K | +33.5% |
| Unionville | $352.5K | $415K | +17.7% |
| Plainville | $262.5K | $300K | +14.3% |
| New Britain | $250.5K | $280K | +11.7% |
| Avon | $467.5K | $519.1K | +11.1% |
Housing Supply in Farmington, CT
How many homes are available in Farmington, CT?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 110 | 97 | -11.8% |
Summary: The Farmington real estate market had 97 homes for sale in September 2024, a 11.8% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 1 | -80.0% |
| 2 Bedrooms | 19 | 22 | +15.8% |
| 3 Bedrooms | 42 | 36 | -14.3% |
| 4 Bedrooms | 24 | 19 | -20.8% |
| 5+ Bedrooms | 20 | 19 | -5.0% |
Summary: The Farmington housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 80%, 2 bedroom homes increased by 15.8%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 20.8%, and 5+ bedroom homes decreased by 5%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 44 | 30 | -31.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Farmington, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 30 homes were sold or pending in Farmington in September 2024, down by 31.8% month-over-month. Of the 30 sold homes, 23% were sold under asking, 27% were sold at asking, and 50% were sold over asking.
Days on Market for Farmington, CT
We’re sorry, we don't have information for this market at the moment
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