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

Real Estate Market Statistics for Prospect CT for March 2016

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

 Real Estate Market Statistics for Cheshire CT for March 2016

Currently in Prospect CT there are 50 active residential listings for sale, with 11 new listings being added in March. The homes for sale in Prospect CT range from a 720 square ft, 2-bedroom mobile home, listed at $16,900 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 $269,760. The average days on market for these homes are 126 days. In addition, there are currently 5 homes under contract in Prospect CT.

 Real Estate Market Statistics for Cheshire CT for March 2016

In March 2016, 8 homes closed in Prospect CT. The homes that sold in Prospect CT ranged from a 1,236 square ft, 2-bedroom ranch, which sold for $150,000, to a 2,268 square foot, 3-bedroom colonial which sold for $310,00. The average value of the sold homes in Prospect CT in March 2016 was $228,847 with average days on market of 78 days.

By comparison, there were 7 closings in Prospect CT for the month of March 2015 with an average sales price of $279,379 and average days on market of 139. This would demonstrate that for March of 2016, the market was greater by 1 unit sold with an average sales value 20% less 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.

For the year first quarter of 2016, the market sales or absorption rate for Prospect CT was 4 sales per month, with an average sales value of $252,775 and average days on market of 77. With this rate and the current inventory, there would be a 12+ month absorption rate. 

 Prospect CT Market trends Mar 2016

 

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 an inconsistent variation of prices showing little stabilization.

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.

 

 Homes for sale in Prospect CT

Real Estate Market Statistics for Prospect CT for March 2016 

 

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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 • April 10 2016 06:52PM

Comments

Hi Ed, you have an created an excellent Cheshire CT market report. Very useful for you clients to get so much information in one place.

Posted by Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker) over 2 years ago

Thanks for the great market report for Cheshire Ct Ed Silva. It is clear and concise.

Posted by Sybil Campbell, REALTOR® ABR, SFR, SRES Williamsburg, Virginia (Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia) over 2 years ago

Good morning Ed. 50 opportunities for prospective buyers to take advantage of the homes that are available. Nice job with your report.

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) over 2 years ago

 Good morning Ed Silva . Thank you for sharing this information of what is going on in your area especially Prospect Connecticut.

Posted by TeamCHI - Complete Home Inspections, Inc., Home Inspectons - Nashville, TN area - 615.661.029 (Complete Home Inspections, Inc.) over 2 years ago

Hi Ed.  Owners in Prospect, Ct having to wait 12 months for prospects to buy is tough.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) over 2 years ago

Hi Ed... I don't see stabilizing market either in the areas I am servicing..

You may want to check title. Cheshire to Prospect..

I know.. senior moment. :)

Posted by Maria Gilda Racelis, Home Ownership is w/in Reach. We Make it Happen! (Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington) over 2 years ago

Participate