Ed's Chesprocott Region Blog: What’s Happening in The Prospect CT Real Estate Market Prospect April 2019?

What’s Happening in The Prospect CT Real Estate Market Prospect April 2019?

Prospect CT April 2019 Real Estate Market Trends

 

 What’s Happening in The Prospect CT Real Estate Market Prospect April 2019?

 

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Currently in Prospect CT there are 40 active residential listings for sale, with 16 new listings being added in April. The homes for sale in Prospect CT range from a 938 square ft, 2-bedroom mobile home, listed at $39,900 to a 4,533 square ft, 9-bedroom colonial listed at $535,000. 

The average list price of the homes currently available for sale in Prospect CT is $316,952. The average days on market for these homes are 74 days. In addition, there are currently 12 homes under contract in Prospect CT.

 What’s Happening in The Prospect CT Real Estate Market Prospect April 2019?

In April 2019, 11 homes closed in Prospect CT. The homes that sold in Prospect CT ranged from a 960 square ft, 2-bedroom mobile home, which sold for $30,000, to a 3,556 sq ft 3-bedroom colonial which sold for $398,000. The average value of the sold homes in Prospect CT in April 2019, was $260,864 with average days on market of 97 days.

By comparison, there were 10 closings in Prospect CT for the month of April 2019 with an average sales price of $286,040 and days on market of 116. This would demonstrate that for Prospect CT in April 2019 the market sales was 1less than the same period the previous year but the values decreased from the previous year by almost 10% with fewer days on market.

For the first quarter of 2019, the market sales or absorption rate for Prospect CT was 4.5 sales per month, with an average sales value of $236,039 and average days on market of 87.

For the year 2018, the market sales or absorption rate was 8 sales per month, with an average sales value of $256,593 and average days on market of 65. With this rate and the current inventory, there is a 4+ month supply of homes, which is a seller's market.

 

What’s Happening in The Prospect CT Real Estate Market Prospect April 2019?

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 decline in values over the first quarter of 2019.

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 April 2019 Real Estate Market Trends

 

 

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Ed Silva  RE/MAX Professionals,   203-206-0754

Comment balloon 2 commentsEd Silva • May 14 2019 03:58PM

Comments

Good afternoon Ed - looks like a robust market in Prospect Ct.  I hope you get your share.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) about 1 year ago

Nice to see such a wonderful market report Ed Silva 

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) about 1 year ago

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