Devonwood is renowned in the upscale town of Farmington as a quiet and quaint community. This community consists of 382 single-family homes and 500 acres of mostly wooded land. Even though Devonwood is located just a few miles away from downtown Hartford, this community serves as a peaceful rural setting for all of its satisfied homeowners.
Overall, those who move to Devonwood will have no trouble enjoying all of their favorite activities. Very few suburban communities like Devonwood are able to offer such a variety of amenities to homeowners while keeping up a country-like, rural feel.
Based on the real estate trends in Devonwood for the past few years, this community is a prime location to focus efforts to market homes to potential buyers.
Real Estate Market in Devonwood
As of now, the median listing price for closed homes in Devonwood is $837,500. Taking into account the size of the average home in the Devonwood community, this translates to a price per square foot of about $176.44. In the past year or so, 18 homes have closed in the Devonwood community out of 41 homes total.
In the past few years, the listing price for homes in this community has remained largely steady and consistent. The same cannot be said for many communities in Connecticut, as well as the United States as a whole. This trend indicates that homes in Devonwood may require less effort and time to market than the homes in the nearby community of Farmington.
Average Listing and Sale Price for Closed Homes in Devonwood:
- From 2010 to 2011 – Average listing price: $774,558 – Average sale price: $724,250. # of sales:12
- From 2011 to 2012 – Average listing price: $999,159 – Average sale price: $929,440. # of sales: 17
- From 2012 to 2013 – Average listing price: $953,000 – Average sale price: $911,500. # of sales: 18
- From 2013 to 2014 – Average listing price: $896,200 – Average sale price: $855,727. # of sales: 11
- From 2014 to 2015 – Average listing price: $793,780 – Average sale price: $757,921. # of sales: 14
- From 2015 to 2016 – Average listing price: $859,794 – Average sale price: $804,250. # of sales: 18
Based on these statistics, in the past six years, the median listing price has hovered around $880,000. The fair stable listing price for homes in the Devonwood community indicates that marketing Devonwood homes may result in greater returns for less time and effort.
In each of the past five years, at least 25% of the homes put on the market in Devonwood closed by the end of the year. The figure was closer to 50% in all but one or two of the years. For example, from 2012 to 2013, 18 out of 28 (64 percent) homes closed by the end of the year. Without a doubt, Devonwood remains one of the area’s premiere locations for buyers.