PROSPECT CT-REAL ESTATE MARKET REPORT for JUNE 2015
What does the real estate market look like in Prospect, CT? Real estate prices in Prospect CT have been declining somewhat steadily over the last year, in spite of being higher for this June compared to last June. Buyers have been moving rather quickly on homes in Prospect CT, and current pending sales prices and number of sales provides some hope for sellers thinking about putting their homes on the market in the upcoming months and for those sellers whose homes are already on the market.
There are 66 single family Prospect CT homes for sale, with an average listing price of $302,476 and a median listing price of $289,450.
There are 18 Pending sales (under contract), with an average asking price of $309,922, a median asking price of $299,900, and an average of 49 days on market before accepting an offer.
12 homes were sold in Prospect CT in the month of June, with an average sale price of $255,338, a median sale price of $265,950, and an average of 49 days on market before accepting an offer. By comparison, in June 2014, 8 homes were sold in Prospect, with an average sale price of $185,288, a median sale price of $161,500, and an average of 110 days on market before accepting an offer. This year's figures represent a 38% increase in average sale prices, and a 55% decrease in average days on market, from last year.
So, what does all of this mean? Buyers are making offers rapidly on homes that they see the value in due to the decline in home values in Prospect CT. As prices rise, sellers can expect buyers to wait longer to make offers on their homes. In order to make sure that your home sells quickly, sellers, consult with a realtor who knows the Prospect CT real estate market, will price your home based on market conditions, and will help you to prepare your home to attract potential buyers.
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For more information about Prospect CT, you can visit the following:
Prospect CT Real Estate - Market Update - prior Prospect CT market reports
Are you looking to buy a home in Prospect CT? Click on Prospect CT homes for sale to search for homes in your price range.
For more details about the Prospect CT real estate market and to determine if this is the right time to sell, call me at (203) 558-7463 to receive a free home evaluation and a list of tips that will help you prepare your home for sale. I look forward to discussing with you Prospect CT houses for sale.
© William James Walton, Sr. Market Report data provided by CTMLS. All data is accurate but not guaranteed at time of publication.