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

Real Estate Market Statistics for Cheshire CT for November 2016

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

 

 Real Estate Market Statistics for Cheshire CT for November 2016

Currently in Cheshire CT there are 186 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 $465,816. The average days on market for these homes is 155 days. For the month of November, there were 23 new homes listed for sale in Cheshire CT.

 

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There are currently 12 homes under contract in Cheshire CT, 2 of which went under contract in November. The average list price for the homes under contract is $336,903 with average days on market of 64 days.

 

 Real Estate Market Statistics for Cheshire CT for November 2016

 

In November 2016, 21 homes closed in Cheshire CT. They ranged from a 1,497 sq ft, 3-bedroom cape which sold for $181,000 to a 4,349 sq ft 4-bedroom, colonial which sold for $775,000.  Average sales price of the homes that sold was $372,833. Average DOM of 74 days. The closed properties had a Sales price to List price ratio of 95%.

 

By comparison, there were 15 closings in Cheshire CT for the month of November 2015, with an average price of $330,627 and avg. days on market of 123. This would indicate that in November 2016, the number of homes sold was greater by 6 homes, and the average value of the homes was almost 12% greater with less days on market. This is a very positive sign for sales in Cheshire CT

 

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.

For the third quarter of 2016, the market sales or absorption rate for Cheshire CT was 29 sales per month, with an average sales value of $353,465 and average days on market of 50. 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 November 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.

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 November 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 3 commentsEd Silva • December 13 2016 03:02PM

Comments

Hi Ed Silva - That is a positive sign year to year on the November market.  12% higher value! Very nice!!

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Residential Brokerage) 10 months ago

Ed now that is the direction I hope every town in CT starts to go.  Love seeing the numbers going in the right direction.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) 10 months ago

Good morning Ed.  Thanks for the Cheshire CT real estate market update.   (And I like the new outfit on your photo.)

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) 10 months ago

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