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

Prospect CT November 2016 Real Estate Market Trends

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

 

Prospect CT November 2016 Real Estate Market Trends

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Currently in Prospect CT there are 39 active residential listings for sale, with 7 new listings being added in November. The homes for sale in Prospect CT range from a 1,864 square ft, 3-bedroom colonial, listed at $129,900 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 $304,666. The average days on market for these homes are 133 days. In addition, there are currently 9 homes under contract in Prospect CT.

 

Prospect CT November 2016 Real Estate Market Trends

In November, 3 homes closed in Prospect CT. The homes that sold in Prospect CT were a ranged from a 1,668 square ft, 3-bedroom ranch, which sold for $250,000; a 3,028 square ft, 5-bedroom raised ranch, which sold for $278,500 and a 3,941 square foot, 4-bedroom contemporary which sold for $340,000. The average value of the sold homes in Prospect CT in November 2016 was $289,500 with average days on market of 73 days.

By comparison, there were 6 closings in Prospect CT for the month of November 2015 with an average sales price of $363,417 and average days on market of 73. This would demonstrate that for Prospect CT in November of 2016, the market sales were 3 less than the same period of 2015 and with an average sales value almost 20% 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 November 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 November 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 6 commentsEd Silva • December 10 2016 04:26PM

Comments

Hi Ed- excellent information that buyers and sellers will find helpful!

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) 12 months ago

Sharing the right CT real estate information is your specialty for sure, Ed...and sellers & buyers would be smart to hire you to represent them.

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) 12 months ago

Anyone thinking of buying a home in your market area should call you.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) 12 months ago

Ed, Great analysis of this community. Nice detailed and informative information.

Posted by Mike and Dawn Lewis, The Lewis Team at Keller Williams in San Diego CA (The Lewis Team at Keller Williams) 12 months ago

Ed well at least the DOM is the same, but all the other figures are going in the wrong direction

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) 12 months ago

Good morning Ed Silva ,

Excellent overview of the real estate market in Prospect, CT. I'm sure buyers and sellers find your information invaluable!

Posted by Dorie Dillard, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.346.1799) 12 months ago

Participate