Ed's Chesprocott Region Blog: Real Estate Market Statistics for Prospect CT December 2015

Real Estate Market Statistics for Prospect CT December 2015

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

 

 

Real Estate Market Statistics for Prospect CT December 2015

Currently in Prospect CT there are 53 active residential listings for sale, with 9 new listings being added in December. The homes for sale in Prospect CT range from a 720 square ft, 2-bedroom mobile home, listed at $23,900 to a 3,121 square ft, 4-bedroom colonial listed at $550,000.

 

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The average list price of the homes currently available for sale in Prospect CT is $280,804. The average days on market for these homes are 169 days. In addition, there are currently 2 homes under contract in Prospect CT.

Real Estate Market Statistics for Prospect CT December 2015 

In December 2015, 9 homes closed in Prospect CT. The homes that sold in Prospect CT ranged from a 1,288 square ft, 3-bedroom ranch, which sold for $235,000 to a 2,750 square foot, 4-bedroom colonial which sold for $514,500. The average value of the sold homes in Prospect CT in December 2015 was $214,378 with average days on market of 57 days.

By comparison, there were 4 closings in Prospect CT for the month of December 2014, with an average sales price of $211,714 and average days on market of 64. This would demonstrate that for December of 2015, the market was better by 5 units sold with an average sales value 1.5% greater 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.

For the fourth quarter of 2015, the market sales or absorption rate for Prospect CT was 9 sales per month, with an average sales value of $281,136 and average days on market of 61. With the 4th quarter rate of 9 sales per month and the current inventory, there would be a 6 month absorption rate or a trend to a neutral market.

 

 Real Estate Market Statistics for Prospect CT December 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.

 

 

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Real Estate Market Statistics for Prospect CT December 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 • January 07 2016 07:39PM

Comments

Hi Ed, You market report with graphs is a great tool for buyers and sellers in Prospect Ct.

Posted by Sybil Campbell, REALTOR® ABR, SFR, SRES Williamsburg, Virginia (Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia) over 2 years ago

Thanks for this very informative blog about your market. I love getting updates from around the country! 

Posted by Lise Howe, Assoc. Broker and Attorney Licensed in DC, MD, VA, (Keller Williams Capital Properties) over 2 years ago

 Good morning Ed. Very interesting market report on what is happening in your area. Thank you for the update.

Posted by TeamCHI - Complete Home Inspections, Inc., Home Inspectons - Nashville, TN area - 615.661.029 (Complete Home Inspections, Inc.) over 2 years ago

Good morning Ed. December was a tough month for sales, hopefully 2016 will be a much stronger when it comes to sales.

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

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