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

Real Estate Market Statistics for Cheshire CT for March 2016

What’s My Cheshire CT Home Worth, Statistics for March 2016

 

 Real Estate Market Statistics for Cheshire CT for March 2016

 

Currently in Cheshire CT there are 228 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 $453,473. The average days on market for these homes is 112 days. For the month of March, there were 59 new homes listed for sale in Cheshire CT.

 

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There are currently 26 homes under contract in Cheshire CT, eight (8) of which went under contract in March. The average list price for the homes under contract is $439,446 with average days on market of 91 days.

 

 Real Estate Market Statistics for Cheshire CT for March 2016

 

In March 2016, 15 homes closed in Cheshire CT. They ranged from a 1,004 sq ft, 3-bedroom ranch which sold for $145,000 to a 3,089 sq ft 4-bedroom, colonial which sold for $599,000.  Average sales price of the homes that sold was $310,633. Average DOM of 101 days. The closed properties had a Sales price to List price ratio of 96.3%.

 

By comparison, there were 17 closings in Cheshire CT for the month of March 2015, with an average price of $343,453 and avg. days on market of 73. This would indicate that in March 2016, the number of homes sold was less by 2 homes, and the average value of the homes was almost 10% less with longer days on market.

 

For the year 2015, the market sales or absorption rate was 20 sales per month, with an average sales value of $357,106 and average days on market of 76.

 

For the year first quarter of 2016, the market sales or absorption rate for Cheshire CT was 15 sales per month, with an average sales value of $310,742 and average days on market of 95. This rate with the current inventory would be a 12+ month absorption rate. The current market is still considered a buyer’s market.

 Real Estate Market Statistics for Cheshire CT for March 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 slight decrease in values.

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 March 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 4 commentsEd Silva • April 22 2016 04:40PM

Comments

Ed, this is a great explanation of what is happening with the current real estate market in Cheshire. It is imperative that people understand the REAL real estate market because they read about other places that have left the bad times in the dust. So much of CT is still down, and without the proper guidance selling a home can be more than painful. You are the one to call in Cheshire to sell a house, or buy a house. 

Posted by Andrea Swiedler, Realtor, Southern Litchfield County CT (Berkshire Hathaway HomeServices New England Properties) over 2 years ago

Ed

You've done a masterful job of sharing what happening in the Cheshire real estate market. Ther's quite a diversity of housing! Buyers, and sellers, should seek out your wise counsel to they can truly understand the impact of the market on their buying and selling decisions, and then achieve their goals with your assistance!

Enjoy your weekend!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude - Carlsbad (Solutions Real Estate ) over 2 years ago

Hi Ed.  10% less in value and longer days on market is not what you want to hear as a seller.

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

Good morning Ed. Lots of homes available for prospective buyers to view. Nicely done report.

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

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