What’s My Cheshire CT Home Worth, Statistics for September 2014
Currently in Cheshire CT there are 209 active residential listings for sale. They range from a 728 square ft, 1-bedroom ranch listed at $99,900 to a 10,543 square ft, 6-bedroom Tudor listed at $1,495,000. The average list price of the homes currently available for sale in Cheshire CT is $443,345. The average days on market for these homes is 111 days. For the month of September, there were 45 new homes listed for sale in Cheshire CT.
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There are currently 21 homes under contract in Cheshire CT. Six (6) homes went under contract in the month of September. The average list price for the homes under contract is $454,976 with average days on market of 129 days.
In September, 19 homes closed in Cheshire CT. They ranged from a 792 sq ft, 2-bedroom REO ranch which sold for $100,400 to a 4,777 sq ft 4-bedroom, new construction colonial which sold for $968,392. Average sales price of the homes that sold was $390,057. Average DOM of 63 days. The closed properties had a Sales price to List price ratio of 98%.
By comparison, there were also 19 closings in Cheshire CT for the month of September 2013, with an average price of $357,207 and avg. days on market of 96. This would indicate that in September 2014, the number of homes sold was the same, yet the average value of the homes was 10% higher with less days on market. The real estate market in Cheshire CT would be described as improving.
For the year 2013, the market sales or absorption rate for Cheshire CT was 22 sales per month, with an average sales value of $339,150 and average days on market of 79.
For the second quarter of 2014, the market sales rate was equivalent to 26 sales per month, which is 4 sales less than the average value for 2013.
For the third (3rd) quarter of 2014, the market sales rate was equivalent to 26 sales per month. Using the third quarter absorption rate, the current inventory of homes is equivalent to a 8 month inventory, and also indicates an improving market.
The graph demonstrates the average monthly sales value in Cheshire CT with strong fluctuations from month to month. The sales appeared to stabilize towards the end of the year with a monthly increase in value, and then at the end. They are showing an increase in values for the last 3 months, however.
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.
Real Estate Market Statistics for Cheshire CT for September 2014
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