Cheshire CT Real Estate and Homes for Sale, May 2010 Market Report

Home Sales for Cheshire- May 2010 sales were 16, up 6.7% from 15 in May of 2009 and -33.3% lower than the 24 sales last month. May 2010 sales were at a mid level compared to May 2009 and 2008.

May YTD sales of 86 are running 65.4% ahead of last year's year-to-date sales of 52.

Median Price - The Median sales price for homes in Cheshire CT in May was $291,000 down –20.7% from $367,000 in May of 2009 and down -11.5% from $328,725 last month.

Average Price - The Average Sales Price for homes in Chesire CT in May was $341,565 down -10.7% from $382,650 in May of 2009 and down -12.7% from $391,042 last month.

Inventory - The total inventory of homes available for sale as of May 2010 was 156, up 9.9% from 142 last month and down -1.3% from 158 in May of last year.May 2010 Inventory was at its lowest level compared with May of 2009 and 2008.

A comparatively low MSI (month's supply of inventory) is more beneficial for sellers while a higher MSI is better for buyers. MSI (month's supply of inventory) for May 2010 of 9.8 months was at a mid level compared May 2009 and 2008.

Market Time - The average Days On Market (DOM) shows how many days the average home is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market.

The DOM (days on Market) for May 2010 was 75 days, down -21.1% from 95 days last month and down -10.7% from 84 days in May of last year.

Selling Price Per Square Foot- The Selling Price per Square Foot is a great indicator for the direction of Property Values. Since median Sales Price and Average Sales price can be impacted by the mix of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values.

The May 2010 Selling Price per Square Foot of $169 was up 2.2% from $166 last month and up 0.2% from 169 in May of last year.

If you have any questions or would like more information on the Real Estate Market for Cheshire CT, please call Kate Collins @ 203-376-6036.