What’s My Cheshire CT Home Worth, Market Statistics for December 2018
Currently in Cheshire CT there are 95 active residential listings for sale. They range from a 1,368 square ft, 3-bedroom ranch listed at $159,000 to a 5,178 square ft, 5-bedroom colonial listed at $1,100,000. The average list price of the homes currently available for sale in Cheshire CT is $462,724. The average days on market for these homes is 162 days. For the month of December, there were 9 new homes listed for sale in Cheshire CT.
There are currently 11 homes under contract in Cheshire CT, and 1 went under contract in December. The average list price for the homes under contract is $413,526 with average days on market of 104 days.
In December 2018, 16 homes closed in Cheshire CT. They ranged from a 974 sq ft, 2-bedroom ranch which sold for $69,000 to a 3,288 sq ft 4-bedroom, ranch which sold for $559,900. Average sales price of the homes that sold was $281,503. Average DOM of 48 days. The closed properties had a sales price to List price ratio of 95%.
By comparison, there were 33 closings in Cheshire CT for the month of December 2017, with an average price of $337,183 and avg. days on market of 91. This would indicate that in December 2018, the number of homes sold was less by 17 homes, and the average value of the homes was almost 20% less with longer days on market.
For the year 2017, the market sales or absorption rate was 28 sales per month, with an average sales value of $342,362 and average days on market of 61.
For the year 2018, the market sales or absorption rate was also 28 sales per month, with an average sales value of $345,022 and average days on market of 59. This rate with the current inventory would be a 31/2 month absorption rate. The current market is considered a strong seller's market.
The graph demonstrates the average monthly sales value in Cheshire CT with slight fluctuations from month to month. The sales appeared to demonstrate a gradual increase in prices with an unusual drop in December most likely attributed to the sudden cold as well as a change in interest rates.
If you are interested in buying or selling a home in the Cheshire CT area send me an email at email@example.com or call me at 203-206-0754 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 December 2018