What’s My Cheshire CT Home Worth, Statistics for December 2015
Currently in Cheshire CT there are 183 active residential listings for sale. They range from a 1,184 square ft, 3-bedroom colonial listed at $94,500 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 $464,045. The average days on market for these homes is 146 days. For the month of December, there were 29 new homes listed for sale in Cheshire CT.
There are currently 18 homes under contract in Cheshire CT, eight (8) of which went under contract in December. The average list price for the homes under contract is $300,063 with average days on market of 63 days.
In December 2015, 27 homes closed in Cheshire CT. They ranged from a 1,375 sq ft, 4-bedroom cape which sold for $100,000 to a 4,484 sq ft 4-bedroom, cape which sold for $845,000. Average sales price of the homes that sold was $340,748 with average DOM of 98 days. The closed properties had a Sales price to List price ratio of 96.9%.
By comparison, there were 14 closings in Cheshire CT for the month of December 2014, with an average price of $293,528 and avg. days on market of 73. This would indicate that in December 2015, the number of homes sold was almost double of what it was for the same period a year earlier, and the average value of the homes was almost 15% greater with longer days on market. A big improvement in value and units sold.
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.
For the fourth quarter of 2015, the market sales or absorption rate for Cheshire CT was 27 sales per month, with an average sales value of $338,986 and average days on market of 92.
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 December2015
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