What’s My Cheshire CT Home Worth, Market Statistics for November 2016
Currently in Cheshire CT there are 186 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 $465,816. The average days on market for these homes is 155 days. For the month of November, there were 23 new homes listed for sale in Cheshire CT.
There are currently 12 homes under contract in Cheshire CT, 2 of which went under contract in November. The average list price for the homes under contract is $336,903 with average days on market of 64 days.
In November 2016, 21 homes closed in Cheshire CT. They ranged from a 1,497 sq ft, 3-bedroom cape which sold for $181,000 to a 4,349 sq ft 4-bedroom, colonial which sold for $775,000. Average sales price of the homes that sold was $372,833. Average DOM of 74 days. The closed properties had a Sales price to List price ratio of 95%.
By comparison, there were 15 closings in Cheshire CT for the month of November 2015, with an average price of $330,627 and avg. days on market of 123. This would indicate that in November 2016, the number of homes sold was greater by 6 homes, and the average value of the homes was almost 12% greater with less days on market. This is a very positive sign for sales in Cheshire CT
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.
For the third quarter of 2016, the market sales or absorption rate for Cheshire CT was 29 sales per month, with an average sales value of $353,465 and average days on market of 50. This rate with the current inventory would be a 7 month absorption rate. The current market is still considered a buyer’s market.
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.
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.
Real Estate Market Statistics for Cheshire CT for November 2016