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

Prospect CT October 2016 Real Estate Market Trends

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

 

Prospect CT October 2016 Real Estate Market Trends

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Currently in Prospect CT there are 48 active residential listings for sale, with 10 new listings being added in Prospect. The homes for sale in Prospect CT range from a 784 square ft, 2-bedroom mobile home, listed at $45,000 to a 3,121 square ft, 4-bedroom colonial listed at $550,000. 

The average list price of the homes currently available for sale in Prospect CT is $301,027. The average days on market for these homes are 125 days. In addition, there are currently 3 homes under contract in Prospect CT.

 

 Prospect CT October 2016 Real Estate Market Trends

In October, 8 homes closed in Prospect CT. The homes that sold in Prospect CT ranged from a 728 square ft, 2-bedroom mobile home, which sold for $16,900 to a 2,734 square foot, 3-bedroom colonial which sold for $435,000. The average value of the sold homes in Prospect CT in October 2016 was $248,143 with average days on market of 105 days.

By comparison, there were 13 closings in Prospect CT for the month of October 2015 with an average sales price of $289,377 and average days on market of 57. This would demonstrate that for Prospect CT in October of 2016, the market sales were 5 less than the same period of 2015 and with an average sales value almost 15% less than for 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.

For the third quarter of 2016, the market sales or absorption rate for Prospect CT was 9 sales per month, with an average sales value of $250,871 and average days on market of 82. With this rate and the current inventory, there would be a 7 month absorption rate.

 

 Prospect CT October 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 October 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 4 commentsEd Silva • November 07 2016 06:55AM

Comments

Hi Ed Silva - Those folks who are looking to sell or purchase real estate in Prospect CT can use your report to gage a baseline for their real estate decisions.

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Residential Brokerage) 9 months ago

Ed those were marketable decreases this year from last year.  I would have expected it to be the other way around.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) 8 months ago

Ed, Your year-to-year comparison shows potential and sellers buyers an overall look-see at the Prospect CT market. Happy sales to you!

Posted by Wanda Kubat-Nerdin, St. George Area Preferred Residential REALTOR® (Specializing in Residential, Referrals & Relocation | PK Real Estate Utah South) 8 months ago

Home buyers and sellers in your area will appreciate this information.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) 8 months ago

Participate