What’s Happening in The Prospect CT Real Estate Market Prospect March 2019?
Currently in Prospect CT there are 34 active residential listings for sale, with 11 new listings being added in March. The homes for sale in Prospect CT range from a 1,404 square ft, 3-bedroom mobile home, listed at $140,000 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 $324,341. The average days on market for these homes are 83 days. In addition, there are currently 14 homes under contract in Prospect CT.
In March 2019, 8 homes closed in Prospect CT. The homes that sold in Prospect CT ranged from a 1,072 square ft, 2-bedroom mobile home, which sold for $68,000, to a 3,058 sq ft 4-bedroom colonial which sold for $369,000. The average value of the sold homes in Prospect CT in March 2019, was $217,884 with average days on market of 147 days.
By comparison, there were also 8 closings in Prospect CT for the month of March 2019 with an average sales price of $247,300 and days on market of 97. This would demonstrate that for Prospect CT in March 2019 the market sales were identical but the values decreased from the previous year by almost 15%.
For the year 2019, 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 decline in values over the first quarter of 2019.
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 March 2019 Real Estate Market Trends