Ed's Chesprocott Region Blog: Real Estate Market Statistics for Prospect CT January2016

Real Estate Market Statistics for Prospect CT January2016

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.

 Real estate trends for Prospect CT Jan 2016

 

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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. 

 

 Real Estate Market Statistics for Prospect CT January2016

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. 

Real Estate Market Statistics for Prospect CT January2016

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.

 

Prospect CT Homes for sale

Real Estate Market Statistics for Prospect CT January2015

 

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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 6 commentsEd Silva • February 12 2016 05:26PM

Comments

Good morning Ed. The three that sold, actually went pretty quickly. I guess that means they were priced right, others not so much.

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) over 1 year ago

Good morning Ed Silva . properties that are priced right sell quickly. The others? Maybe a price/attitude adjustment? - LOL

Posted by TeamCHI - Complete Home Inspections, Inc., Home Inspectons - Nashville, TN area - 615.661.029 (Complete Home Inspections, Inc.) over 1 year ago

Hi Ed.  It looks the prospect of the majority of home selling quickly in Prospect, Ct is slim.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) over 1 year ago

Joe Petrowsky   Some of that maybe, and also, just wanting to get it sold at this time of year.

TeamCHI - Complete Home Inspections, Inc.   Some of that for sure if they are in a position to do that.

Conrad Allen  A better indicator will be once we get into March

Posted by Ed Silva, Central CT Real Estate Broker Serving all equally (RE/MAX Professionals, CT 203-206-0754 ) over 1 year ago

Such a nice presentation of your market data. Your advice about pricing in line with the market is sound.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) over 1 year ago

Hi Ed Silva , There is no comparision in your average prices and ours in Elkhart, Indiana.  It's a Sellers market here, but the prices are about 50% of yours.

Posted by Larry Johnston, Broker,Friends & Neighbors Real Estate, Elkhart,IN (Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC) over 1 year ago

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