Farmington Home Prices & Values

$279,900 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.9% 1-year change
  • 1.9% 1-year forecast

The median home value in Farmington is $279,900. Farmington home values have gone up 1.9% over the past year and Zillow predicts they will rise 1.9% within the next year. The median list price per square foot in Farmington is $171, which is higher than the Hartford Metro average of $149. The median price of homes currently listed in Farmington is $350,000 while the median price of homes that sold is $295,500. The median rent price in Farmington is $1,700, which is higher than the Hartford Metro median of $1,200.

Foreclosures will be a factor impacting home values in the next several years. In Farmington 3.3 homes are foreclosed (per 10,000). This is greater than the Hartford Metro value of 2.7 and also lower than the national value of 4.3

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Farmington is 3.6%, which is lower than the national value of 7.2%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Farmington homeowners underwater on their mortgage is 11.1%, which is lower than Hartford Metro at 19.1%.

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Relative ZHVI
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Farmington Market Overview

Data through Jun 30, 2014
  • $279,900 ZHVI
  • 1.9% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Jun 30, 2015)
  • $350,000 Median listing price
  • No recent data Median sale price
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Farmington Market Health

Data through Jun 30, 2014
  • 2.3/10 Less healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • No data Average of days on Zillow
  • 11.1% Homes with negative equity (18.8% US Avg) (Mar 31, 2014)
  • 3.6% Delinquent on mortgage (7.2% US Avg) (Mar 31, 2014)

Homes foreclosed (per 10,000)

3.3 homes Farmington
2.7 homes Hartford Metro
4.3 homes United States
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Nearby Cities

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Avon $360,600 West Hartford $288,500 Weatogue $270,500
Berlin $263,000 Southington $254,800 Newington $207,900
Plainville $177,400 Bristol $176,700 New Britain $132,300

Listings & Sales

Data through Jun 30, 2014
  • $171 Median list price / sq ft
  • $155 Median sale price / sq ft (May 31, 2014)
  • 35.7% Listings with price cut
42.4%
Sold below listing
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Farmington Rentals

Data through Jun 30, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$1,917 Farmington
$1,548 Hartford Metro
$1,310 United States
  • 4.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • $1,700 Rent list price
  • $1.29 Rent list price / sq ft
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