Stonington Borough real estate trends still show a slow market. There are currently 21 single family residential properties on the market. The high of $2.59m and the low of $409k show a large range in price and the 21 listings show a smaller inventory however, the closed sales over the last year show that the market is not absorbing the new listings fast enough. The ADOM or “Active Days On the Market” statistic is significantly above the regional averages, currently averaging at 286 and a median of 176. One cause for this is that all the averages (square footage, number of bedrooms, number of bathrooms) are significantly higher than regional averages.
| Beds | Baths | SqFt | Listing Price | LP$/SqFt | Sale Price | SP$/SqFt | SP/LP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|
| High | 17 | 17 | 9,344 | $2,595,000 | $538.22 | $0 | $0 | 0% | 1,147 |
| Low | 2 | 2 | 1,278 | $409,900 | $177.2 | $0 | $0 | 0% | 34 |
| Average | 5 | 4.27 | 3,491 | $1,249,133 | $360.38 | $0 | $0 | 0% | 286 |
| Median | 4 | 3 | 3,084 | $900,000 | $360.42 | $0 | $0 | 0% | 176 |
There is currently only one home under deposit in Stonington Borough. With a listing price of $249k, it continues to project a slow trend for the future. The fact that the only home under deposit in the Borough is at the very low end of the market means that either the demand needs to move up or the current sellers need to adjust their marketing and pricing strategies.
| Beds | Baths | SqFt | Listing Price | LP$/SqFt | Sale Price | SP$/SqFt | SP/LP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|
| High | 4 | 3 | 2,383 | $249,900 | $104.87 | $0 | $0 | 0% | 414 |
| Low | 4 | 3 | 2,383 | $249,900 | $104.87 | $0 | $0 | 0% | 414 |
| Average | 4 | 3 | 2,383 | $249,900 | $104.87 | $0 | $0 | 0% | 414 |
| Median | 4 | 3 | 2,383 | $249,900 | $104.87 | $0 | $0 | 0% | 414 |
Within the last 12 months, there have been 10 residential sales in Stonington Borough. The highest price for a home sold was $2.9m and the lowest was $96k. That creates a large standard deviation as reflected by the average sold price of $820k and median of $510k. The average ADOM was 173 days with the median at 123. Both of these are above the averages for Stonington Real Estate and New London County.
| Beds | Baths | SqFt | Listing Price | LP$/SqFt | Sale Price | SP$/SqFt | SP/LP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|
| High | 6 | 3.5 | 5,795 | $3,495,000 | $603.11 | $2,900,000 | $500.43 | 97.4% | 510 |
| Low | 2 | 1.1 | 1,200 | $299,000 | $112.22 | $280,000 | $96.22 | 83% | 3 |
| Average | 4 | 2.13 | 2,557 | $930,180 | $326.39 | $820,700 | $294.73 | 90.56% | 174 |
| Median | 3 | 2 | 2,291 | $539,450 | $303.66 | $510,000 | $270.65 | 91.95% | 123 |
The following information is based on single family residential properties in the CTMLS over the last 12 months. All information is as of 7/29/14. You can visit our other pages for updated Stonington Borough Statistics or Stonington Real Estate Trends.
