As a continuation from yesterday’s West Hartford 2007 residential real estate review, here is the data for the Farmington Valley. Again, all data is for single family homes only that were listed and transacted in the Multiple Listing Service. I’m also including the current inventory levels which indicate how the market is currently doing. Historically, 0-3 months of inventory is a seller’s market, 3-6 months of inventory is a neutral market, and 6+ months of inventory is a buyer’s market.
Avon currently has 8.8 months of housing inventory available, indicating a buyer’s market.
Canton currently has 8.3 months of housing inventory available, indicating a buyer’s market.
Farmington currently has 3.8 months of housing inventory available, indicating a neutral market.
Simsbury currently has 4.2 months of housing inventory available, indicating a neutral market.
The number of sales were down in every market presented here, in comparison to 2006. But pricing still remained strong. Average sale prices were either up or only slightly down by 1%. Real estate in the Farmington Valley continued to hold its value in 2007. We’ll see how the pricing in, what should be buyers markets, holds up in Avon and Canton this year.
Curious about another town in the area? Send me your request and I’ll happily post the data for you.