What’s Happening in The Prospect CT Real Estate Market January 2016?
Currently in Prospect CT there are 46 active residential listings for sale, with 5 new listings being added in January. The homes for sale in Prospect CT range from a 720 square ft, 2-bedroom mobile home, listed at $23,900 to a 3,121 square ft, 4-bedroom colonial listed at $550,000.
The average list price of the homes currently available for sale in Prospect CT is $253,998. The average days on market for these homes are 156 days. In addition, there are currently 3 homes under contract in Prospect CT.
In January 2016, 2 homes closed in Prospect CT. The homes that sold in Prospect CT were a 3,086 square ft, 4-bedroom colonial, which sold for $236,500 and a 2,483 square foot, 3-bedroom contemporary which sold for $330,000. The average value of the sold homes in Prospect CT in January 2016 was $283,250 with average days on market of 137 days.
By comparison, there were 3 closings in Prospect CT for the month of January 2015 with an average sales price of $279,000 and average days on market of 67. This would demonstrate that for January of 2016, the market was less by 1 unit sold with an average sales value 1% greater than the same period the previous year.
For the year 2015, the market sales or absorption rate was 9 sales per month, with an average sales value of $264,009 and average days on market of 70. Using the same absorption rate, the current inventory of homes is equivalent to an 9+ month inventory. The current market is still considered a buyer’s market.
The graph demonstrates the average monthly sales value in Prospect CT with strong fluctuations from month to month. The values in Prospect CT have demonstrated a gradual increase over the past 4 months and the market is trending to a neutral market.
For sellers it is essential to have a sales price on your home consistent with the most recent activity. We offer free market evaluations to assist you in your sale.
Real Estate Market Statistics for Prospect CT January2015
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