Cheshire CT Real Estate Sales Report for February 2013
Currently in Cheshire CT there are 160 active residential listings for sale. They range from a 1,098 square ft, 3-bedroom cape listed at $115,000 to a 10,000 square ft, 6-bedroom Tudor listed at $1,999,000. The average list price of the homes currently available for sale in Cheshire CT is $454,934. The average days on market for these homes is 133 days. For the month of February, there were 26 new homes listed for sale in Cheshire CT.
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There are currently 27 homes under contract in Cheshire CT. Seven homes went under contract in the month of February. The average list price for the homes under contract is $417,813 with average days on market of 90 days.
In February, 12 homes closed in Cheshire CT. They ranged from a 1,242 sq ft, 3-bedroom ranch, which sold for $99,500 to a 2,62 sq ft 4-bedroom new construction colonial which sold for $512,485. Average sales price of the homes that sold was $357,298. Average DOM of 123 days. The closed properties had a Sales price to List price ratio of 96.8%.
By comparison, there were also 12 closings in Cheshire CT for the month of February 2012, with an average price of $241,043 and avg. days on market of 89. This would indicate that in February 2013, while the number of homes sold was similar, the value increased by a 48% average higher value but with longer days on market. The real estate prices in Cheshire CT appear to have not yet stabilized.
For the year 2012, the market sales or absorption rate for Cheshire CT was 20 sales per month, with an average sales value of $341,797 and average days on market of 74. The current inventory of homes is equivalent to an 8 month inventory, which is a still a buyer’s market.
The graph demonstrates the average monthly sales value in Cheshire CT for 2012 with strong fluctuations from month to month. The values in Cheshire CT have started to stabilize.
If you are interested in buying or selling a home in the Cheshire Ct area send me an email or call 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.
If you would like information on homes for sale in Cheshire 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 Cheshire CT.
Cheshire CT Real Estate Sales Report for February 2013
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