What’s Happening in The Prospect CT Real Estate Market January 2016?
Currently in Prospect CT there are 46 active residential listings for sale, with 5 new listings being added in January. 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.
The average list price of the homes currently available for sale in Prospect CT is $253,998. The average days on market for these homes are 156 days. In addition, there are currently 3 homes under contract in Prospect CT.
In January 2016, 2 homes closed in Prospect CT. The homes that sold in Prospect CT were a 3,086 square ft, 4-bedroom colonial, which sold for $236,500 and a 2,483 square foot, 3-bedroom contemporary which sold for $330,000. The average value of the sold homes in Prospect CT in January 2016 was $283,250 with average days on market of 137 days.
By comparison, there were 3 closings in Prospect CT for the month of January 2015 with an average sales price of $279,000 and average days on market of 67. This would demonstrate that for January of 2016, the market was less by 1 unit sold with an average sales value 1% greater than the same period the previous year.
For the year 2015, the market sales or absorption rate was 9 sales per month, with an average sales value of $264,009 and average days on market of 70. 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.
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.
Real Estate Market Statistics for Prospect CT January2015
Do you know somebody who is behind on their mortgage and doesn't know what to do? I may be able to help them, especially if they are facing foreclosure!
Get Help with Short Sale in Connecticut
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 Mapleridge Realty, LLC, 203-206-0754