Ed's Chesprocott Region Blog: Prospect CT April 2016 Real Estate Market Trends

Prospect CT April 2016 Real Estate Market Trends

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

 Prospect CT April 2016 Real Estate Market Trends

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Currently in Prospect CT there are 60 active residential listings for sale, with 15 new listings being added in April. The homes for sale in Prospect CT range from a 720 square ft, 2-bedroom mobile home, listed at $16,900 to a 3,721 square ft, 3-bedroom colonial listed at $599,000. 

The average list price of the homes currently available for sale in Prospect CT is $281,222. The average days on market for these homes are 119 days. In addition, there are currently 3 homes under contract in Prospect CT. 

Prospect CT April 2016 Real Estate Market Trends

In April 2016, 7 homes closed in Prospect CT. The homes that sold in Prospect CT ranged from a 938 square ft, 3-bedroom mobile home, which sold for $36,000, to a 1,731 square foot, 2-bedroom colonial which sold for $295,00. The average value of the sold homes in Prospect CT in April 2016 was $148,857 with average days on market of 88 days.

By comparison, there were 8 closings in Prospect CT for the month of April 2015 with an average sales price of $266,100 and average days on market of 68. This would demonstrate that for April of 2016, the market was less by 1 unit sold with an average sales value 40% 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 April 2016 Real Estate Market Trends

 

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 April 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 3 commentsEd Silva • May 11 2016 05:52PM

Comments

Great market report Ed Silva on Prospect Ct  Buyers and sellers alike would be wise to contact you when thinking of making a move

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) about 1 year ago

Good morning Ed. I don't see things changing anytime soon, it looks like it will be a buyers market for a while. Nice job with your report.

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

Ed

You've done an admirable job with your market report. Buyers and sellers in Prospect CT will recognize the wealth of knowledge you have about what happening in the local housing market.

Jeff

Posted by Jeff Dowler, The Southern California Relocation Dude - Carlsbad (Solutions Real Estate ) about 1 year ago

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