Ed's Chesprocott Region Blog: Real Estate Market Statistics for Prospect CT February 2016

Real Estate Market Statistics for Prospect CT February 2016

What’s Happening in The Prospect CT Real Estate Market February 2016?

 

 

Real Estate Market Statistics for Prospect CT February2016

Currently in Prospect CT there are 50 active residential listings for sale, with 13 new listings being added in February. 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 $259,916. The average days on market for these homes are 138 days. In addition, there are currently 7 homes under contract in Prospect CT.

 

Real Estate Market Statistics for Prospect CT February2016

In February 2016, 3 homes closed in Prospect CT. The homes that sold in Prospect CT were a 1,926 square ft, 3-bedroom ranch, which sold for $180,000, a 2,200 square foot, 3-bedroom split-level which sold for $338,900, and a 2,112 square foot, 3-bedroom colonial which sold for $369,900. The average value of the sold homes in Prospect CT in February 2016 was $296,267 with average days on market of 36 days.

By comparison, there were 7 closings in Prospect CT for the month of February 2015 with an average sales price of $233,857 and average days on market of 90. This would demonstrate that for February of 2016, the market was less by 4 units sold with an average sales value 20% 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 6+  month inventory. The current market is still considered a buyer’s market.

 

Real Estate Market Statistics for Prospect CT February2016

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 February2015

 

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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 7 commentsEd Silva • March 04 2016 05:55AM

Comments

Hi Ed.  Nice report but when the heck is your market going to turn around?

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

Ed Silva Thank you for taking the time to share this market report.  It is most professional and informative to buyers and sellers alike.

Posted by Jim Crawford, Jim Crawford Atlanta Best Listing Agents & REALTOR (RE/MAX Paramount Properties) over 1 year ago

Nice job putting your market report together for Prospect together.

Conrad Allen asked the $64,000 question.

 

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

Hello Ed, great local market information for the consumer wishing to buy or sell in Prospect, CT.

Posted by Donna Foerster, Metro Denver Real Estate Agent (HomeSmart Realty Group) over 1 year ago

Ed I don't like seeing sales numbers going down, but that was a very nice increase in prices, and even a better reduction in days on the market.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 1 year ago

For all of your Prospect, CT real estate needs, contact the local real estate professional, Ed Silva. For buying, selling or relocating...Ed is the one to get it done. 

Posted by Debbie Laity, Your Real Estate Resource for Delta County, CO (Cedaredge Land Company) over 1 year ago

Hi Ed, well done Prospect CT market report.

Posted by Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker) over 1 year ago

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