Cheshire CT Real Estate and Homes for Sale, October 2009 Market Report
Home Sales for Cheshire - October 2009 sales were 18, down -14.3% from 21 in October for 2008 and -10.0% lower than the 20 last month.
October YTD Sales of 167 are running 5.0% ahead of last year's year to date sales of 159.
Prices - The Median sales price in October was $350,000 down -2.2% from $358,000 in October of 2008 and up 5.1% from $333,000 last month.
Inventory - The total inventory of homes available for sale as of October was 170, up 9.0% from 156 last month and up 11.1% from 153 in October of last year.
A comparatively low MSI (month's supply of inventory) is more beneficial for sellers while a higher MSI is better for buyers.
MSI ( months supply of inventory) for October of 9.4 months was it highest level compared with October of 2008 and 2007.
Market Time - The average Days On Market (DOM) shows how many days the average home is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyers market, a downward trend a move towards more of a Seller's market.
The DOM for October was 73 up 17.7% from 62 days last month and down -21.5% from 93 days in October of last year.