What’s Happening in The Prospect CT Real Estate Market Prospect December 2018?
Currently in Prospect CT there are 33 active residential listings for sale, with 9 new listings being added in December. The homes for sale in Prospect CT range from a 960 square ft, 2-bedroom mobile home, listed at $36,900 to a 2,600 square ft, 4-bedroom colonial listed at $460,000.
The average list price of the homes currently available for sale in Prospect CT is $273,475. The average days on market for these homes are 92 days. In addition, there are currently 3 homes under contract in Prospect CT.
In December, 12 homes closed in Prospect CT. The homes that sold in Prospect CT ranged from a 982 square ft, 2-bedroom ranch, which sold for $129,660 to a 3,000 square ft, 4-bedroom colonial which sold for $450,000. The average value of the sold homes in Prospect CT in December 2016 was $276,943 with average days on market of 95 days.
By comparison, there were 7 closings in Prospect CT for the month of December 2017 with an average sales price of $282,929 and average days on market of 68. This would demonstrate that for Prospect CT in December of 2018, the market sales were 5 greater than the same period of 2017 and with an average sales value almost $6,000 less than the same period the previous year.
For the year 2017, the market sales or absorption rate was 7.5 sales per month, with an average sales value of $237,713 and average days on market of 79.
For the year 2018, the market sales or absorption rate was 8 sales per month, with an average sales value of $256,593 and average days on market of 65.
For comparison, the 2018 market showed an average increase in value of almost 10% with comparable units of sale and days on market.
The graph demonstrates the average monthly sales value in Prospect CT with strong fluctuations from month to month. The values in Prospect CT have demonstrated an inconsistent variation of prices showing little stabilization.
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.
Prospect CT December 2018 Real Estate Market Trends