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

Prospect CT June 2016 Real Estate Market Trends

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

 Prospect CT June 2016 Real Estate Market Trends

Search for Homes in Prospect CT

 

Currently in Prospect CT there are 60 active residential listings for sale, with 13 new listings being added in June. The homes for sale in Prospect CT range from a 772 square ft, 2-bedroom mobile home, listed at $19,900 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 $283,228. The average days on market for these homes are 117 days. In addition, there are currently 5 homes under contract in Prospect CT.

 Prospect CT June 2016 Real Estate Market Trends

In June 2016, 9 homes closed in Prospect CT. The homes that sold in Prospect CT ranged from a 720 square ft, 2-bedroom mobile home, which sold for $16,900, to a 2,723 square foot, 3-bedroom colonial which sold for $385,000. The average value of the sold homes in Prospect CT in June 2016 was $212,197 with average days on market of 81 days.

By comparison, there were 12 closings in Prospect CT for the month of June 2015 with an average sales price of $255,338 and average days on market of 49. This would demonstrate that for June of 2016, the market sales were 3 less than the previous period of 2015 but 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 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.

For the second quarter of 2016, the market sales or absorption rate for Prospect CT was 8 sales per month, with an average sales value of $218,647 and average days on market of 95. With this rate and the current inventory, there would be a 8 month absorption rate.

 

 Prospect CT June 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.

 

Search for Homes in Prospect CT

 

Prospect CT June 2016 Real Estate Market Trends

 

 

Search for all Connecticut homes 

Subscribe

 

 

 

 

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!

Get Help with Short Sale in Connecticut

    www.ctshortsalesilva.com

 

 

 

 

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 • July 13 2016 03:06PM

Comments

Good morning Ed Silva,

Another wonderful comprehensive report on Prospect CT. I can see why sellers need to be looking at the latest sales to determine their price. 8 month absorption rate definitely is a buyers market..homes must be priced right to gain the attention of the buyers looking.

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.346.1799) over 2 years ago

thanks for sharing the market report on your community - it is always good to know what is going on around the country! 

Posted by Lise Howe, Assoc. Broker and Attorney Licensed in DC, MD, VA, (Keller Williams Capital Properties) over 2 years ago

ED Silva Great report as always on prospect-ct-june-2016-real-estate-market-trends

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) over 2 years ago

Hi Ed, I see inconsistent sale prices in my area as well, especially in areas with short sales. Prospect CT buyers and sellers would be wise to contact you with their real estate needs.

Posted by Beth Atalay, Cam Realty of Clermont FL (Cam Realty and Property Management) over 2 years ago

Ed, hope the trend turns around in Prospect and future months exceed the 2015 figures.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 2 years ago

Participate