What’s My Cheshire CT Home Worth, Market Statistics for December 2016
Currently in Cheshire CT there are 162 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 $462,874. The average days on market for these homes is 175 days. For the month of December, there were 14 new homes listed for sale in Cheshire CT.
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There are currently 11 homes under contract in Cheshire CT, 5 of which went under contract in December. The average list price for the homes under contract is $301,721 with average days on market of 42 days.
In December 2016, 19 homes closed in Cheshire CT. They ranged from a 1,248 sq ft, 3-bedroom ranch which sold for $213,000 to a 3,949 sq ft 4-bedroom, contemporary which sold for $587,000. Average sales price of the homes that sold was $363,258. Average DOM of 102 days. The closed properties had a Sales price to List price ratio of 97%.
By comparison, there were 27 closings in Cheshire CT for the month of December 2015, with an average price of $340,748 and avg. days on market of 98. This would indicate that in December 2016, the number of homes sold was less by 8 homes, and the average value of the homes was almost 7% greater with similar 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.
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.
For the fourth quarter of 2016, the market sales or absorption rate for Cheshire CT was 33 sales per month, with an average sales value of $354,986 and average days on market of 68. This rate with the current inventory would be a 5 month absorption rate. The current market is considered a seller's market.
For the year 2016, the market sales or absorption rate was 25 sales per month, with an average sales value of $350,931 and average days on market of 71.
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.
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.
Real Estate Market Statistics for Cheshire CT for December 2016
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