What Happened in The Prospect CT Real Estate Market Prospect December 2021?
Prospect CT is a town of App 10,000 residents located in New Haven County. It is bordered by Waterbury, Cheshire, Naugatuck and Bethany. One noted by Money Magazine as one of the top 300 towns in the Nation, it has since adopted the title of Best small town in CT.
It serves as a predominately residential community whose residents commute to the nearby towns. It has a well-recognized regional school system shared with Beacon Falls CT. It is also recognized as a well-managed town with taxes under control.
Search for homes in Prospect CT
Currently in Prospect CT there are 13 active residential listings for sale, with 2 new listings added in December. The homes for sale in Prospect CT range from a 960 square ft, 3-bedroom ranch, listed at $198,000 to a 3,592 square ft, 4-bedroom new construction colonial listed at $849,900.
The average list price of the homes currently available for sale in Prospect CT is $440,961. The average days on market for these homes are 98 days. In addition, there are currently 12 homes in show status and 12 homes under hard deposit in Prospect CT.
In December, 10 homes closed in Prospect CT. The homes that sold in Prospect CT ranged from an 1,892 square ft, 4-bedroom split-level ranch, which sold for $225,000 to a 3,941 square ft, 4-bedroom contemporary which sold for $450,000. The average value of the sold homes in Prospect CT in December 2021 was $325,490 with average days on market of 37 days.
By comparison, there were 14 closings in Prospect CT for the month of December 2020 with an average closing sales price of $317,754 and average days on market of 59. This would demonstrate that for Prospect CT in December of 2021, the market sales were 7 less units sold as the previous period of 2020 and with an average sales value almost $8,000 greater than the same period the previous year. This shows an increase in values and at least for this month with a decidedly lower inventory.
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 greater than a 1-month inventory. This is still a seller's market, with little indications of changing in the New Year.
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 inconsistency 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 December 2021 Real Estate Market Trends
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