Cheshire CT Real Estate and Homes for Sale, February 2010 Market Report

Cheshire CT Real Estate and Homes for Sale, February 2010 Market Report

Home Sales for Cheshire- February 2010 sales were 17, up 30.8% from 13 in February of 2009 and -19.0% lower than the 21 sales last month.  February 2010 sales were at their highest level compared to February 2009 and 2008. February YTD sales as of 38 are running 58.3% ahead of last year's year-to-date sales of 24.

Median Price - The Median sales price in February was $229,800 down -42.6 % from $400,000 in February of 2009 and down -0.1% from last month.  

Average Price - The Average Sales Price in February was $266,771, down 22.5% from $334,231 in February of 2009 and up 4.6% from last month.

Inventory - The total inventory of homes available for sale as of February 2010 was 179, down  -3.2% from 185 last month and down -1.1% from 181 in February 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 (month's supply of inventory) for February of 10.5 months was at its lowest level compared with February 2009 and 2008.

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 Buyer's market, a downward trend a move towards more of a Seller's market.

The DOM (days on Market) for February 2010 was 91 days, up 15.2% from 79 says last month and down -18.0% from 111 days in February of last year.