Cheshire CT Real Estate Sales Report for October 2013
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Currently in Cheshire CT there are 190 active residential listings for sale. They range from a 1,207 square ft, 2-bedroom cape listed at $119,500 to a 5,100 square ft, 4-bedroom ranch listed at $1,395,000. The average list price of the homes currently available for sale in Cheshire CT is $455,450. The average days on market for these homes is 147 days. For the month of October, there were 34 new homes listed for sale in Cheshire CT.
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There are currently 17 homes under contract in Cheshire CT. Four homes went under contract in the month of October. The average list price for the homes under contract is $482,000 with average days on market of 87 days.
In October, 15 homes closed in Cheshire CT. They ranged from a 960 sq ft, 2-bedroom ranch which sold for $174,900 to a 4,798 sq ft 4-bedroom colonial which sold for $725,000. Average sales price of the homes that sold was $338,708. Average DOM of 52 days. The closed properties had a Sales price to List price ratio of 97.1%.
By comparison, there were 19 closings in Cheshire CT for the month of October 2012, with an average price of $327,886 and avg. days on market of 108. This would indicate that in October 2013, the number of homes sold was less by 4 units, but the value decreased by almost 3% with less days on market. The real estate prices in Cheshire CT appear to be stabilizing.
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.
For the first quarter of 2013, the market sales or absorption rate for Cheshire CT was 15 sales per month, with an average sales value of $357,240 and average days on market of 106.
For the second quarter of 2013, the market sales rate was equivalent to 24 sales per month, which is greater in units sold.
For the third quarter of 2013, the market sales rate was equivalent to 29 sales per month. Using the same absorption rate, the current inventory of homes is equivalent to almost a 7 month inventory. The current market is still considered 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, a reversal for the second quarter, but a stabile value range in the third quarter.
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 October 2013
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