$5,105 Closing Credit*
$429,900
1,283 SqFt
3 Beds
•2 Full Baths
Paul Cranick, Listing Office: eXp Realty
Is Farmington, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | $187.5K | +38.9% |
| 2 Bedrooms | $261K | $292.5K | +12.1% |
| 3 Bedrooms | $385K | $480K | +24.7% |
| 4 Bedrooms | $585.5K | $715K | +22.1% |
| 5+ Bedrooms | $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 | $371K | $483.5K | +30.3% |
| Plainville | $265K | $320K | +20.8% |
| Unionville | $356.2K | $415K | +16.5% |
| Avon | $460.8K | $531.6K | +15.4% |
| New Britain | $255K | $288.2K | +13.0% |
Housing Supply in Farmington, CT
How many homes are available in Farmington, CT?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 97 | 74 | -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
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 2 | -50.0% |
| 2 Bedrooms | 28 | 27 | -3.6% |
| 3 Bedrooms | 35 | 27 | -22.9% |
| 4 Bedrooms | 15 | 6 | -60.0% |
| 5+ Bedrooms | 15 | 12 | -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 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 29 | 17 | -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
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
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