The Farmington market is enjoying a determined upward trend, reiterated again this week as sales rose 14.3% to eight homes over the last 30 days. The median sales price climbed to $234,250, up from last week's $231,500. Farmington is a still definite buyer's market, in spite of the rising sales numbers, due to the availability of eight months of remaining inventory.
Comments:

New listings have fallen in the Farmington market, reaching a low that hasn't been seen since April. They also had a 30-day tally of three sales. While new seller numbers were soft, months of inventory were further reduced to 11, extending a downward trend to four weeks. Despite the downward trend in new listings, the large amount of inventory indicates that Farmington is still a strong buyer's market.
Comments:

The Farmington market is enjoying a determined upward trend, even as sales fell 42.9% this week to four homes over the last 30 days. All indications show that the trend may be coming to an end, meaning less sales over the next few weeks. As sales trended higher, prices have been increasing. The median sales price hit $169,500, extending a four-week long spike. With decreasing sales and the availability of eight months of inventory, Farmington is a strong buyer's market.
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Fewer sellers put their homes up for sale in the Farmington market over the last 30 days and the number of new listings fell this week to six. Home sales remained unchanged from the prior period and once again seven homes were sold. Prices were able to find a top with the average selling price rising to $150,000, a three-month high.
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The Farmington market got a lift this week as sales jumped to seven homes sold over the last 30 days to go with a new upward trend of contracts closing, now up to one. Pricing in Farmington remains consistent from last week to this week, with the median sales price at $145,000 again.
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The Farmington market will be more intense, as not only have sales risen this week to five homes sold over the last 30 days, but there is a budding upward trend of new listings, with 12 going live in the same time frame. The median sales price climbed to $145,000 over the latest reporting period for Farmington, up from $136,000. Despite the uptick in sales, there are still seven months of inventory left to work through, meaning Farmington is still a definite buyer's market.
Comments:

Over the last 30 days, the Farmington market was healthy with four homes sold, a 300.0% increase from last week's report. The median sales price jumped to $136,000 over the latest reporting period for Farmington, up from $100,000. Farmington is still a solid buyer's market, in spite of the uptick in sales, thanks to the availability of eight months of remaining inventory.
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