What’s Happening in The Prospect CT Real Estate Market Prospect February 2019?
Currently in Prospect CT there are 34 active residential listings for sale, with 7 new listings being added in February. The homes for sale in Prospect CT range from a 1,856 square ft, 5-bedroom tri-level home, listed at $199,000 to a 4,533 square ft, 9-bedroom colonial listed at $535,000.
The average list price of the homes currently available for sale in Prospect CT is $326,812. The average days on market for these homes are 84 days. In addition, there are currently 10 homes under contract in Prospect CT.
In February 2019, 7 homes closed in Prospect CT. The homes that sold in Prospect CT ranged from a 1,952 square ft, 3-bedroom tri-level, which sold for $135,000, to a 2,150 sq ft 3-bedroom colonial which sold for $346,000. The average value of the sold homes in Prospect CT in February 2019, was $259,071 with average days on market of 80 days.
By comparison, there was 1 closing in Prospect CT for the month of February 2018 with a sales price of $200,000 and days on market of 52. This would demonstrate that for Prospect CT in February 2019 not only was the market sales better by 7 homes for the same period of 2018 but the average price was better by almost 25%.
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. With this rate and the current inventory, there is a 4+ month supply of homes, which is a seller's 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 February 2019 Real Estate Market Trends