Ed's Chesprocott Region Blog: Prospect CT March 2017 Real Estate Market Trends

Prospect CT March 2017 Real Estate Market Trends

What’s Happening in The Prospect CT Real Estate Market Prospect 2017?  

 

Prospect CT March 2017 Real Estate Market Trends 

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Currently in Prospect CT there are 32 active residential listings for sale, with 6 new listings being added in March. The active homes for sale in Prospect CT range from a 992 square ft, 3-bedroom ranch, listed at $138,000 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 $314,825. The average days on market for these homes are 171 days. In addition to these active listings, there are 11 homes under pending status  and 4 homes under hard deposit in Prospect CT.

 Prospect CT March 2017 Real Estate Market Trends

In March 2017, 4 homes closed in Prospect CT. The homes that sold in Prospect CT  ranged from a 938 square ft, 3-bedroom cape, which sold for $117,500 to a 2,943 square ft, 4-bedroom colonial which sold for $405,000. The average value of the sold homes in Prospect CT in March 2017 was $271,356 with average days on market of 142 days.

By comparison, there were 8 closings in Prospect CT for the month of March 2016 with an average sales price of $228,847 and average days on market of 78. This would demonstrate that for Prospect CT in March of 2017, the market sales were 4 less than the same period of 2016 and with an average sales value almost 20% greater than for same period the previous year.

For the year 2016, the market sales or absorption rate was 7 sales per month, with an average sales value of $236,822 and average days on market of 85.

For the first quarter of 2017, the market sales or absorption rate for Prospect CT was 4 sales per month, with an average sales value of $218,675 and average days on market of 87.

 

 Prospect CT March 2017 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 a trend to higher value over the first quarter of 2017.

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 March 2017 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 2 commentsEd Silva • April 10 2017 11:01PM

Comments

Ed this seems to be a slower 1st quarter all over CT this year.  Let's hope for a good Spring Market.

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

Glad to see the market is back on the rise, Ed. Hope you have a very Happy Easter.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) 7 months ago

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