Real Estate Market Statistics for Cheshire CT for June 2016

By
Real Estate Agent with Mapleridge Realty, CT 203-206-0754 REB.0759001

What’s My Cheshire CT Home Worth, Market Statistics for June 2016

 

 Real Estate Market Statistics for Cheshire CT for June 2016

Currently in Cheshire CT there are 231 active residential listings for sale. They range from a 728 square ft, 1-bedroom ranch listed at $74,900 to a 5,500 square ft, 4-bedroom colonial listed at $1,500,000. The average list price of the homes currently available for sale in Cheshire CT is $462,181. The average days on market for these homes is 116 days. For the month of June, there were 37 new homes listed for sale in Cheshire CT.

 

Search for Homes in Cheshire CT

 

There are currently 18 homes under contract in Cheshire CT, 7 of which went under contract in June. The average list price for the homes under contract is $342,716 with average days on market of 40 days.

 

 Real Estate Market Statistics for Cheshire CT for June 2016

 

In June 2016, 63 homes closed in Cheshire CT. They ranged from a 1,306 sq ft, 3-bedroom cape which sold for $155,000 to a 6,153 sq ft 5-bedroom, colonial which sold for $966,500.  Average sales price of the homes that sold was $366,605. Average DOM of 72 days. The closed properties had a Sales price to List price ratio of 98%.

 

By comparison, there were 31 closings in Cheshire CT for the month of June 2015, with an average price of $391,081 and avg. days on market of 74. This would indicate that in June 2016, the number of homes sold was greater by 32 homes, and the average value of the homes was almost 10% less with slightly less days on market.

 

For the year 2015, the market sales or absorption rate was 20 sales per month, with an average sales value of $357,106 and average days on market of 76.

For the first quarter of 2016, the market sales or absorption rate for Cheshire CT was 15 sales per month, with an average sales value of $310,742 and average days on market of 95.

For the second quarter of 2016, the market sales or absorption rate for Cheshire CT was 33 sales per month, with an average sales value of $364,364 and average days on market of 79. This rate with the current inventory would be a 7 month absorption rate. The current market is still considered a buyer’s market.

 

 Real Estate Market Statistics for Cheshire CT for June 2016

The graph demonstrates the average monthly sales value in Cheshire CT with strong fluctuations from month to month. The sales appeared to demonstrate a gradual increase in prices over the last 4 months, however.

If you are interested in buying or selling a home in the Cheshire CT area send me an email or call and we can set up a time to meet.

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 Cheshire 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 Cheshire CT. 

 Search for Homes in Cheshire CT

 

Real Estate Market Statistics for Cheshire CT for June 2016

 

Posted by

 

Edward (Ed) Silva
Broker Associate

Serving Central Connecticut Sellers and Buyers

My Blog
Email Me
EdSilvaCTRealtor.com


C:  203-206-0754
Call or Text

O:  203-758-6440

 

Do you know anyone who is behind on their mortgage and doesn't know what to do? I may be able to help them. I am an experienced Short Sale Broker

Short Sales in Connecticut

 

Search all active Connecticut listings

 

 

Comments (1)

Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Ed those are some very interesting statistics, what do you attribute the drop in the prices? Endre

Jul 15, 2016 04:12 PM