What Happened in The Prospect CT Real Estate Market Prospect July 2021?
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Currently in Prospect CT there are 18 active residential listings for sale, with 11 new listings added in July. The homes for sale in Prospect CT range from a 939 square ft, 2-bedroom colonial, listed at $219,900 to a 2,476 square ft, 4-bedroom new construction colonial listed at $599,900.
The average list price of the homes currently available for sale in Prospect CT is $389,761. The average days on market for these homes are 57 days. In addition, there are currently 7 homes in show status and 9 homes under hard deposit in Prospect CT.
In July, 7 homes closed in Prospect CT. The homes that sold in Prospect CT ranged from a 1,103 square ft, 2-bedroom ranch, which sold for $235,000 to a 2,468 square ft, 4-bedroom cape which sold for $565,000. The average value of the sold homes in Prospect CT in July 2021 was $411,571 with average days on market of 31 days.
By comparison, there were 15 closings in Prospect CT for the month of July 2020 with an average closing sales price of $267,563 and average days on market of 62. This would demonstrate that for Prospect CT in July of 2021, the market sales were 8 less units sold as the previous period of 2020 and with an average sales value almost 35% greater than the same period the previous year.
For the year 2020, the market sales or absorption rate was almost 10 sales per month, with an average sales value of $272,069 and average days on market of 58.
With this absorption rate the current inventory equates to slightly more than a 1 month inventory which is a strong sellers market.
The graph demonstrates the average monthly sales value in Prospect CT with strong gains from month to month highly representative of the concerns created by the lower interest rates and for people seeking to have more space around them. The values in Prospect CT have demonstrated an appreciation in value over the second half of the year.
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 Prospect 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 Prospect CT.
Prospect CT July 2021 Real Estate Market Trends
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