$2,886 Closing Credit*
$243,000
980 SqFt
2 Beds
•1 Full Bath, 1 Partial
Michelle Lorenzetti, Listing Office: Premier R.E. Investment Group
Is Farmington, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 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
$473,333
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$88,333(+22.9%)
Key Takeaway
Homes in Farmington have sold for 22.9% more than they did a year ago.
Summary: The median home sold price in Farmington was $473,333 in December 2024, up 22.9% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $137.5K | $191.5K | +39.3% |
| 2 Bedrooms | $263.7K | $297.5K | +12.8% |
| 3 Bedrooms | $385.8K | $485K | +25.7% |
| 4 Bedrooms | $593.5K | $725K | +22.2% |
| 5+ Bedrooms | $1.0M | $1.2M | +15.7% |
Summary: Farmington housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 39.3%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 25.7%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 15.7%.
Median Sold Price Compared To Nearby Cities
| Farmington | $385K | $473.3K | +22.9% |
| Plainville | $270K | $320K | +18.5% |
| Avon | $460.8K | $537.3K | +16.6% |
| Unionville | $375K | $432.5K | +15.3% |
| New Britain | $258K | $290K | +12.4% |
Housing Supply in Farmington, CT
How many homes are available in Farmington, CT?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 78 | 67 | -14.1% |
Summary: The Farmington real estate market had 67 homes for sale in December 2024, a 14.1% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 28 | 22 | -21.4% |
| 3 Bedrooms | 30 | 23 | -23.3% |
| 4 Bedrooms | 8 | 11 | +37.5% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Farmington housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 21.4%, 3 bedroom homes decreased by 23.3%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 18 | 30 | +66.7% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Farmington, you could pay more than the asking price. 53.3% of homes here sold above asking price last month.
Summary: A total of 30 homes were sold or pending in Farmington in December 2024, up by 66.7% month-over-month. Of the 30 sold homes, 43% were sold under asking, 3% were sold at asking, and 53% 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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