As we reached the end of 2009 in Prospect, Ct the market was showing a modest increase from the previous year in terms of total residential units sold.
As Prospect, Ct is a small town to begin with the bulk of the inventory of available housing would be in residential sales. The only condominiums complexes in town are 55+ communities.
In 2009, 78 properties were sold with a range in value from $190,000 to $589,000 with a median sales price of $257,000.
By comparison, there were 66 units sold in 2008 with a range in value from $172,000 to $589,000 with a median sales price $176,000
Currently there are 46 properties on the market, representing an 8 month inventory which definitely demonstrates a buyer's market. In addition, 8 properties are currently under contract and going through the closing process.
We are an ideal community of 12,000 people and the 7 degrees of separation is too many to connect with all the people in town.