Is Farmington, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$395,000
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Farmington have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in Farmington was $395,000 in March 2024, up 7.3% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $124.5K | $145K | +16.5% |
| 2 Bedrooms | $240K | $267.7K | +11.6% |
| 3 Bedrooms | $377.4K | $410K | +8.6% |
| 4 Bedrooms | $585K | $562K | -3.9% |
| 5+ Bedrooms | $800K | $1.1M | +46.9% |
Summary: Farmington housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.5%, 2 bedroom homes increased by 11.6%, 3 bedroom homes increased by 8.6%, 4 bedroom homes decreased by 3.9%, and 5+ bedroom homes increased by 46.9%.
Median Sold Price Compared To Nearby Cities
| New Britain | $240K | $270K | +12.5% |
| Plainville | $245K | $275K | +12.2% |
| Farmington | $368K | $395K | +7.3% |
| Avon | $450K | $475K | +5.6% |
| Unionville | $370K | $378.7K | +2.4% |
Housing Supply in Farmington, CT
How many homes are available in Farmington, CT?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 50 | 51 | +2.0% |
Summary: The Farmington real estate market had 51 homes for sale in March 2024, a 2.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 16 | 16 | 0.0% |
| 3 Bedrooms | 17 | 18 | +5.9% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Farmington housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 5.9%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 15 | -11.8% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Farmington, you could pay more than the asking price. 73.3% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Farmington in March 2024, down by 11.8% month-over-month. Of the 15 sold homes, 20% were sold under asking, 7% were sold at asking, and 73% 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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