What’s My Cheshire CT Home Worth, Statistics for October 2015
Currently in Cheshire CT there are 203 active residential listings for sale. They range from a 1,159 square ft, 2-bedroom cape listed at $99,000 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 $446,133. The average days on market for these homes is 124 days. For the month of October, there were 44 new homes listed for sale in Cheshire CT.
There are currently 25 homes under contract in Cheshire CT, seven (7) of which went under contract in October. The average list price for the homes under contract is $391,080 with average days on market of 103 days.
In October 2015, 39 homes closed in Cheshire CT. They ranged from a 1,248 sq ft, 3-bedroom cape which sold for $175,000 to a 2,450 sq ft 4-bedroom, colonial which sold for $460,000. Average sales price of the homes that sold was $342,288 with average DOM of 78 days. The closed properties had a Sales price to List price ratio of 97.7%.
By comparison, there were 22 closings in Cheshire CT for the month of October 2014, with an average price of $348,970 and avg. days on market of 97. This would indicate that in October 2015, the number of homes sold was greater by 17 homes, but the average value of the homes was almost 2% less with nearly similar 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.
For the third quarter of 2015, the market sales or absorption rate for Cheshire CT was 32 sales per month, with an average sales value of $319,965 and average days on market of 54. This rate with the current inventory would be a 7+ month absorption rate. The current market is still considered a buyer’s market, but trending to a neutral 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 October 2015
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