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

Prospect CT July 2016 Real Estate Market Trends

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

 

Prospect CT July 2016 Real Estate Market Trends

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Currently in Prospect CT there are 55 active residential listings for sale, with 7 new listings being added in July. The homes for sale in Prospect CT range from a 772 square ft, 2-bedroom mobile home, listed at $13,000 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 $283,747. The average days on market for these homes are 140 days. In addition, there are currently 7 homes under contract in Prospect CT.

 

Prospect CT July 2016 Real Estate Market Trends

In July 2016, 7 homes closed in Prospect CT. The homes that sold in Prospect CT ranged from a 1,226 square ft, 3-bedroom REO ranch, which sold for $65,000, to a 3,250 square foot, 4-bedroom colonial which sold for $430,000. The average value of the sold homes in Prospect CT in July 2016 was $302,357 with average days on market of 47 days.

By comparison, there were 10 closings in Prospect CT for the month of July 2015 with an average sales price of $282,080 and average days on market of 31. This would demonstrate that for July of 2016, the market sales were 3 less than the previous period of 2015 but with an average sales value 10% 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 July 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.

 

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Prospect CT July 2016 Real Estate Market Trends

 

 

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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 7 commentsEd Silva • August 11 2016 07:13AM

Comments

Hi Ed Silva - Your in-depth market report shows customers you are the Realtor for them. Have a great weekend.

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Residential Brokerage) about 1 year ago

Ed Prospect is a really good town to live in CT.  Hopefully the sales will start going up in the second half of the year.

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

Hi Ed, excellent marketing on Prospect CT. Your reporting is sure to attract the clients, it is so easy to grasp.

Posted by Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker) about 1 year ago

Great market report on Prospect, CT Ed Silva.  Hopefully the sales will pick up and bring it closer to a more balanced market.

Posted by Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless! (Lisa Von Domek & Associates LLC Team) about 1 year ago

Ed I always like Prospect CT seems like prices have really sky rocketed, Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) about 1 year ago

Anyone interested in buying or selling a home in Prospect Ct. should contact Ed Silva.

Posted by Sybil Campbell, REALTOR® ABR, SFR, SRES Williamsburg, Virginia (Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia) about 1 year ago

Thanks for keeping us updated on the market trends in Prospect, CT. Make it an awesome day!

Posted by Nestor & Katerina Gasset, Realtors, Wellington Florida Homes For Sale (International Properties and Investments LLC) about 1 year ago

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