What’s My Cheshire CT Home Worth, Market Statistics for February 2017
Currently in Cheshire CT there are 168 active residential listings for sale. They range from a 1,228 square ft, 3-bedroom colonial listed at $139,000 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 $446,579. The average days on market for these homes is 161 days. For the month of February, there were 19 new homes listed for sale in Cheshire CT. There are currently 12 homes under contract in Cheshire CT. The average list price for the homes under contract is $372,450 with average days on market of 38 days.
In February 2017, 21 homes closed in Cheshire CT. They ranged from a 2,348 sq ft, 5-bedroom ranch which sold for $163,500 to a 3,585 sq ft 4-bedroom, colonial which sold for $615,000. Average sales price of the homes that sold was $318,225. Average DOM of 73 days. The closed properties had a Sales price to List price ratio of 97.3%.
By comparison, there were 14 closings in Cheshire CT for the month of February 2016, with an average price of $281,886 and avg. days on market of 93. This would indicate that in February 2017, the number of homes sold was greater by 7 homes, and the average value of the homes was 16% 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 decrease in prices over the last 4 months, with a slight drop in February.
If you are interested in buying or selling a home in the Cheshire CT area send me an email at email@example.com or call me at 203-206-0754 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 February 2017
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