Is Farmington, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$392,500
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Farmington have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in Farmington was $392,500 in April 2024, up 6.1% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $129K | $147K | +14.0% |
| 2 Bedrooms | $244K | $275K | +12.7% |
| 3 Bedrooms | $375K | $410K | +9.3% |
| 4 Bedrooms | $592.5K | $543.5K | -8.3% |
| 5+ Bedrooms | $817.5K | $1.2M | +46.8% |
Summary: Farmington housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14%, 2 bedroom homes increased by 12.7%, 3 bedroom homes increased by 9.3%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 46.8%.
Median Sold Price Compared To Nearby Cities
| New Britain | $240K | $270K | +12.5% |
| Plainville | $250K | $280K | +12.0% |
| Avon | $450.9K | $479K | +6.2% |
| Farmington | $370K | $392.5K | +6.1% |
| Unionville | $370K | $390K | +5.4% |
Housing Supply in Farmington, CT
How many homes are available in Farmington, CT?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 56 | 68 | +21.4% |
Summary: The Farmington real estate market had 68 homes for sale in April 2024, a 21.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 17 | 21 | +23.5% |
| 3 Bedrooms | 21 | 26 | +23.8% |
| 4 Bedrooms | 7 | 12 | +71.4% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Farmington housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 23.5%, 3 bedroom homes increased by 23.8%, 4 bedroom homes increased by 71.4%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 23 | +53.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Farmington, you could pay more than the asking price. 78.3% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in Farmington in April 2024, up by 53.3% month-over-month. Of the 23 sold homes, 13% were sold under asking, 9% were sold at asking, and 78% 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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