What’s My Cheshire CT Home Worth, Statistics for July 2015
Currently in Cheshire CT there are 256 active residential listings for sale. They range from a 1,159 square ft, 2-bedroom cape listed at $109,900 to a 5,200 square ft, 5-bedroom colonial listed at $1,290,000. The average list price of the homes currently available for sale in Cheshire CT is $442,144. The average days on market for these homes is 102 days. For the month of July, there were 59 new homes listed for sale in Cheshire CT.
There are currently 23 homes under contract in Cheshire CT, nine (9) of which went under contract in July. The average list price for the homes under contract is $373,246 with average days on market of 80 days.
In July 2015, 42 homes closed in Cheshire CT. They ranged from a 1,682 sq ft, 4-bedroom cape which sold for $166,000 to a 5,122 sq ft 4-bedroom, cape which sold for $982,820. Average sales price of the homes that sold was $325,061. Average DOM of 58 days. The closed properties had a Sales price to List price ratio of 96.6%.
By comparison, there were 39 closings in Cheshire CT for the month of July 2014, with an average price of $387,959 and avg. days on market of 59. This would indicate that in July 2015, the number of homes sold was greater by 3 homes, but the average value of the homes was almost 20% less with slightly longer days on market. The real estate market in Cheshire CT is showing signs of improvement in value.
For the year 2014, 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 year first quarter of 2015, the market sales or absorption rate for Cheshire CT was 17 sales per month, with an average sales value of $335,668 and average days on market of 83.
For the second quarter of 2015, the market sales or absorption rate for Cheshire CT was 24 sales per month, with an average sales value of $371,521 and average days on market of 91. This rate with the current inventory would be a 10+ 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 an increase in values.
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Real Estate Market Statistics for Cheshire CT for July 2015
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