What’s My Cheshire CT Home Worth, Statistics for August 2015
Currently in Cheshire CT there are 238 active residential listings for sale. They range from a 1,159 square ft, 2-bedroom cape listed at $109,000 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 $437,888. The average days on market for these homes is 101 days. For the month of August, there were 51 new homes listed for sale in Cheshire CT.
There are currently 29 homes under contract in Cheshire CT, eight (8) of which went under contract in August. The average list price for the homes under contract is $413,624 with average days on market of 120 days.
In August 2015, 28 homes closed in Cheshire CT. They ranged from a 1,056 sq ft, 3-bedroom ranch which sold for $109,000 to a 3,898 sq ft 4-bedroom, colonial which sold for $770,000. Average sales price of the homes that sold was $322,942. Average DOM of 54 days. The closed properties had a Sales price to List price ratio of 97.5%.
By comparison, there were 21 closings in Cheshire CT for the month of August 2014, with an average price of $386,774 and avg. days on market of 83. This would indicate that in August 2015, the number of homes sold was greater by 7 homes, but the average value of the homes was almost 20% less with slightly longer days on market.
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.
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 August 2015
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