Cheshire CT Real Estate Sales Report for March 2013

Cheshire CT Real Estate Sales Report for March 2013

Currently in Cheshire CT there are 191 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 $1,850,000. The average list price of the homes currently available for sale in Cheshire CT is $461,464. The average days on market for these homes is 116 days. For the month of March, there were 35 new homes listed for sale in Cheshire CT.

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There are currently 19 homes under contract in Cheshire CT. Five homes went under contract in the month of March. The average list price for the homes under contract is $333,879 with average days on market of 120 days.

In March, 20 homes closed in Cheshire CT. They ranged from a 1,734 sq ft, 4-bedroom farm house, which sold for $127,500 to a 6,674 sq ft 4-bedroom colonial which sold for $900,000.  Average sales price of the homes that sold was $364,437. Average DOM of 115 days. The closed properties had a Sales price to List price ratio of 96.2%.

By comparison, there were 7 closings in Cheshire CT for the month of March 2012, with an average price of $342,401 and avg. days on market of 131. This would indicate that in March 2013, the number of homes sold was greater, but the value decreased by a 10% but with less 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 a 9 month inventory, which is a still a buyer’s market.

The graph demonstrates the average monthly sales value in Cheshire CT  with strong fluctuations from month to month with a gradual trend upward for the first quarter of 2013.

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 discusshomes on the market in Cheshire CT.

Cheshire CT Real Estate Sales Report for March 2013