What’s My Cheshire CT Home Worth, Real Estate Statistics for February 2016
Currently in Cheshire CT there are 193 active residential listings for sale. They range from a 1,144 square ft, 2-bedroom ranch listed at $125,000 to a 7,106 square ft, 5-bedroom colonial listed at $1,590,000. The average list price of the homes currently available for sale in Cheshire CT is $463,071. The average days on market for these homes is 130 days. For the month of February, there were 35 new homes listed for sale in Cheshire CT.
There are currently 14 homes under contract in Cheshire CT, 7 of which went under contract in February. The average list price for the homes under contract is $410,400 with average days on market of 88 days.
In February 2016, 13 homes closed in Cheshire CT. They ranged from a 1,502 sq ft, 2-bedroom cape, which sold for $160,000 to a 2,406 sq ft 4-bedroom, colonial which sold for $367,000. Average sales price of the homes that sold was $282,038 with average DOM of 93 days. The closed properties had a Sales price to List price ratio of 96%.
By comparison, there were 17 closings in Cheshire CT for the month of February 2015, with an average price of $317,008 and avg. days on market of 78. This would indicate that in February 2016, the number of homes sold was less by 4 units than it was for the same period a year earlier, and the average value of the homes was almost 11% less with longer days on market. This demonstrates decrease in units sold and lower average value.
For the year 2015, the market sales or absorption rate was 25 sales per month, with an average sales value of $339,281 and average days on market of 78. This rate with the current inventory would be a 8 month absorption rate. The current market is still considered a buyer’s market.
The graph demonstrates the average monthly sales value in Cheshire CT with strong fluctuations from month to month. The sales appeared to demonstrate a decrease in values over the last quarter.
If you are interested in buying or selling a home in the Cheshire CT area send me an email or call and we can set up a time to meet.
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 Cheshire CT for February 2016
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