Ed's Chesprocott Region Blog: What’s Happening in The Prospect CT Real Estate Market September 2015?

What’s Happening in The Prospect CT Real Estate Market September 2015?

Real Estate Market Statistics for Prospect CT September 2015

 

 What’s Happening in The Prospect CT Real Estate Market September 2015?

 

Currently in Prospect CT there are 75 active residential listings for sale, with 17 new listings being added in September. The homes for sale in Prospect CT range from a 938 square ft, 3-bedroom mobile home, listed at $38,000 to a 3,721 square ft, 3-bedroom colonial listed at $599,900.

 

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The average list price of the homes currently available for sale in Prospect CT is $303,338. The average days on market for these homes are 115 days. In addition, there are currently 7 homes under contract in Prospect CT.

 

What’s Happening in The Prospect CT Real Estate Market September 2015?

In September 2015, 10 homes closed in Prospect CT. The homes that sold in Prospect CT ranged from a 1,456 square ft, 2-bedroom ranch, which sold for $120,000 to a 2,120 square foot, 4-bedroom ranch which sold for $351,000. The average value of the sold homes in Prospect CT in September 2015 was $227,292 with average days on market of 44 days.

 

By comparison, there were 9 closings in Prospect CT for the month of September 2014, with an average sales price of $287,474 and average days on market of 110. This would demonstrate that for September of 2015, the market was better by 1 sale for units sold but with an average sales value almost 25% less than the same period the previous year.

For the year 2014, the market sales or absorption rate was 5.5 sales per month, with an average sales value of $258,771 and average days on market of 103.  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.

 

For the first quarter of 2015, the market sales or absorption rate for Prospect CT was almost 6 sales per month, with an average sales value of $247,097 and average days on market of 110. With this rate and the current inventory, there would be a 11+ month absorption rate.

For the second quarter of 2015, the market sales or absorption rate for Prospect CT was 9 sales per month, with an average sales value of $254,254 and average days on market of 63. This is a 3% improvement in value over the first quarter with less time on market, which is a positive improvement. 

 

For the third quarter of 2015, the market sales or absorption rate for Prospect CT was 12 sales per month, with an average sales value of $265,938 and average days on market of 63. This is a 4% improvement in value over the first quarter with less time on market, which is a positive improvement.

The third quarter statistics show a 3% improvement in value over the first quarter and a 5% increase in average value. With the 3rd quarter rate of 12 sales per month and the current inventory, there would be a 6 month absorption rate or a trend to a neutral market. 

 Prospect CT Market Statistics Sep 2015

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.

If you would like information on homes for sale in Prospect 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 Prospect CT.

 

 

Homes for sale in Prospect CT

Real Estate Market Statistics for Prospect CT September 2015

 

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Whether looking to buy or sell, we service the Greater Waterbury towns of Beacon Falls, Bethany, Cheshire, Naugatuck, Middlebury, Southington, Thomaston, Waterbury, Watertown and Wolcott 

Ed Silva  RE/MAX Professionals,  www.edwardsilva.com  203-206-0754

Comment balloon 4 commentsEd Silva • October 13 2015 06:03PM

Comments

Good morning Ed. Very well done report, lots of important information for anyone considering a purchase and it would be important for them to contact you.

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) about 2 years ago

Hi Ed.  Nice looking report.  It is still a buyer's market though.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) about 2 years ago

This is good information for families moving to the area.

Have a most productive autumn.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) about 2 years ago

This is great information Ed! I know that anyone working with you has to be thankful and appreciative. You put your heart and soul on the line and you don't quit either! You do it all to serve people for the greater good.

Posted by Patricia Feager, Selling Homes Changing Lives (DFW FINE PROPERTIES) about 2 years ago

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