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

Real Estate Market Statistics for Cheshire CT for February 2016

What’s My Cheshire CT Home Worth, Real Estate Statistics for February 2016

 

 Real Estate Market Statistics for Cheshire CT for February 2016

Currently in Cheshire CT there are 193 active residential listings for sale. They range from a 1,144 square ft, 2-bedroom ranch listed at $125,000 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 $463,071.  The average days on market for these homes is 130 days. For the month of February, there were 35 new homes listed for sale in Cheshire CT.

 

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There are currently 14 homes under contract in Cheshire CT, 7 of which went under contract in February. The average list price for the homes under contract is $410,400 with average days on market of 88 days.

 

 Real Estate Market Statistics for Cheshire CT for February 2016

 

In February 2016, 13 homes closed in Cheshire CT. They ranged from a 1,502 sq ft, 2-bedroom cape, which sold for $160,000 to a 2,406 sq ft 4-bedroom, colonial which sold for $367,000.  Average sales price of the homes that sold was $282,038 with average DOM of 93 days. The closed properties had a Sales price to List price ratio of 96%.

 

By comparison, there were 17 closings in Cheshire CT for the month of February 2015, with an average price of $317,008 and avg. days on market of 78. This would indicate that in February 2016, the number of homes sold was less by 4 units than it was for the same period a year earlier, and the average value of the homes was almost 11% less with longer days on market. This demonstrates decrease in units sold and lower average value.

 

For the year 2015, the market sales or absorption rate was 25 sales per month, with an average sales value of $339,281 and average days on market of 78. This rate with the current inventory would be a 8 month absorption rate. The current market is still considered a buyer’s market.

 

Cheshire CT Market Statistics Feb 2016

 

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. 

 

If you would like information on homes for sale in Cheshire 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 Cheshire CT. 

 

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Real Estate Market Statistics for Cheshire CT for February 2016

 

 

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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!

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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 5 commentsEd Silva • March 15 2016 06:27PM

Comments

Ed Cheshire is an excellent town to purchase a house in.  I am surprised that the market is not doing better there.

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

Hi Ed - very nice market report for Cheshire CT.  Hopefully the market will continue to improve.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) over 1 year ago

Good morning Ed. Pretty wide price range of homes available, it seems there is something for everyone that wants to live in this town.

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

Hi Ed.  What are prices doing in Cheshire?  It is still a buyer's market.

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

Hi Gabe,

Historically, June and July, most of the time, perform better each year.

Great report Ed.

Posted by Maria Gilda Racelis, Home Ownership is w/in Reach. We Make it Happen! (Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington) over 1 year ago

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