Ed's Chesprocott Region Blog: August 2016

What’s My Cheshire CT Home Worth, Market Statistics for July 2016

Currently in Cheshire CT there are 217 active residential listings for sale. They range from a 728 square ft, 1-bedroom ranch listed at $74,900 to a 5,500 square ft, 4-bedroom colonial listed at $1,500,000. The average list price of the homes currently available for sale in Cheshire CT is $463,253. The average days on market for these homes is 130 days. For the month of July, there were 20 new homes listed for sale in Cheshire CT.

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There are currently 18 homes under contract in Cheshire CT, 3 of which went under contract in July. The average list price for the homes under contract is $306,472 with average days on market of 50 days.

In July 2016, 23 homes closed in Cheshire CT. They ranged from a 1,144 sq ft, 2-bedroom ranch which sold for $95,000 to a 3,262 sq ft 4-bedroom,  New Construction colonial which sold for $1,068,864.  Average sales price of the homes that sold was $370,021. Average DOM of 48 days. The closed properties had a Sales price to List price ratio of 98%.

By comparison, there were 42 closings in Cheshire CT for the month of July 2015, with an average price of $325,061 and avg. days on market of 58. This would indicate that in July 2016, the number of homes sold was less by 19 homes, but the average value of the homes was almost 17% greater with slightly less days on market.

For the year 2015, the market sales or absorption rate was 20 sales per month, with an average sales value of $357,106 and average days on market of 76.

For the first quarter of 2016, the market sales or absorption rate for Cheshire CT was 15 sales per month, with an average sales value of $310,742 and average days on market of 95.

For the second quarter of 2016, the market sales or absorption rate for Cheshire CT was 33 sales per month, with an average sales value of $364,364 and average days on market of 79. This rate with the current inventory would be a 7 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 gradual increase in prices over the last 4 months, however.

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. 

If you would like information on homes for sale in Cheshire CT, please call me at 203-206-0754 or send me an email. I would be happy to assist you or to discuss homes on the market in Cheshire CT. 

Real Estate Market Statistics for Cheshire CT for July 2016