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

Real Estate Market Statistics for Cheshire CT for August 2016

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

 

 Real Estate Market Statistics for Cheshire CT for August 2016

Currently in Cheshire CT there are 211 active residential listings for sale. They range from a 728 square ft, 1-bedroom ranch listed at $74,900 to a 5,500 square ft, 4-bedroom colonial listed at $1,500,000. The average list price of the homes currently available for sale in Cheshire CT is $469,245. The average days on market for these homes is 134 days. For the month of August, there were 32 new homes listed for sale in Cheshire CT.

 

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There are currently 18 homes under contract in Cheshire CT, 7 of which went under contract in August. The average list price for the homes under contract is $322,894 with average days on market of 40 days.

 

 Real Estate Market Statistics for Cheshire CT for August 2016

 

In August 2016, 40 homes closed in Cheshire CT. They ranged from a 1,031 sq ft, 3-bedroom ranch which sold for $222,000 to a 5,005 sq ft 5-bedroom,  contemporary which sold for $750,000.  Average sales price of the homes that sold was $365,703. Average DOM of 45 days. The closed properties had a Sales price to List price ratio of 97.6%.

 

By comparison, there were 29 closings in Cheshire CT for the month of August 2015, with an average price of $319,599 and avg. days on market of 54. This would indicate that in August 2016, the number of homes sold was greater by 11 homes, and the average value of the homes was almost 14% greater with slightly less 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 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.

For the second quarter of 2016, the market sales or absorption rate for Cheshire CT was 33 sales per month, with an average sales value of $364,364 and average days on market of 79. This rate with the current inventory would be a 7 month absorption rate. The current market is still considered a buyer’s market.

 

Real Estate Market Statistics for Cheshire CT for August 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 gradual increase in prices over the last 4 months, however.

 

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 August 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 • September 21 2016 04:09AM

Comments

Good morning, Ed Silva your market continues to improve and this is a good time for potential buyers and sellers to jump into the market and call you for guidance...

Posted by Barbara Todaro, "Franklin MA Homes" (RE/MAX Executive Realty ) almost 2 years ago

Thanks for sharing your local real estate market reports with us today.

Posted by Harry F. D'Elia, Investor , Mentor, GRI, Radio, CIPS, REOs, ABR (Real Estate and Beyond, LLC) almost 2 years ago

Good morning Ed Silva ,

Wonderful presentation on the real estate market in Cheshire CT. Good to see your market improving!

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

Hi Ed Silva - You picked a couple of homes with great curb appeal to showcase Cheshire CT.  You made a good point about having s sales price that mirrors market conditions.  Sellers should seek out your market evaluation.

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Residential Brokerage) almost 2 years ago

Ed that is great to see those figures for Cheshire.  Hope that trend continues and spreads throughout the state.

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

Hi Ed, excellent reporting for Cheshire CT. Your market is looking very active.

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

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