What’s My Cheshire CT Home Worth, Market Statistics for January 2017
Currently in Cheshire CT there are 168 active residential listings for sale. They range from a 728 square ft, 1-bedroom ranch listed at $74,900 to a 5,227 square ft, 4-bedroom colonial listed at $1,250,000. The average list price of the homes currently available for sale in Cheshire CT is $456,905. The average days on market for these homes is 173 days. For the month of January, there were 14 new homes listed for sale in Cheshire CT.
There are currently 12 homes under contract in Cheshire CT, 4 of which went under contract in January. The average list price for the homes under contract is $297,911 with average days on market of 34 days.
In January 2017, 14 homes closed in Cheshire CT. They ranged from a 1,536 sq ft, 3-bedroom ranch which sold for $195,000 to a 3,179 sq ft 4-bedroom, colonial which sold for $510,000. Average sales price of the homes that sold was $332,243. Average DOM of 66 days. The closed properties had a Sales price to List price ratio of 97.5%.
By comparison, there were 17 closings in Cheshire CT for the month of January 2016, with an average price of $334,601 and avg. days on market of 93. This would indicate that in January 2017, the number of homes sold was less by 3 homes, and the average value of the homes was $2,000 greater with less days on market.
For the year 2016, the market sales or absorption rate was 25 sales per month, with an average sales value of $350,931 and average days on market of 71. This rate with the current inventory would be a 6+ month absorption rate. The current market is still considered a buyer's market.
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, with a slight drop in January.
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.
Real Estate Market Statistics for Cheshire CT for January 2017
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