What’s My Cheshire CT Home Worth, Market Statistics for August 2021
Currently in Cheshire CT there are 49 active residential listings for sale. They range from a 1,176 square ft, 4-bedroom cape listed at $215,000
to a 5,025 square ft, 4-bedroom colonial listed at $1,395,000. The average list price of the homes currently available for sale in Cheshire CT is $575,029. The average days on market for these homes is 84 days. For the month of August, there were 16 new homes listed for sale in Cheshire CT.
There are currently 85 homes under contract in Cheshire CT, 26 of which went under contract in August. The average list price for the homes under contract is $522,024 with average days on market of 51 days.
In August 2021, 23 homes closed in Cheshire CT. They ranged from a 1,210 sq ft, 2-bedroom ranch which sold for $272,000 to a 4,769 sq ft 4-bedroom, colonial which sold for $920,000. Average sales price of the homes that sold was $478,065. Average DOM of 40 days. The closed properties had a Sales price to List price ratio of 102%.
By comparison, there were 33 closings in Cheshire CT for the month of August 2020, with an average price of $380,444 and avg. days on market of 47. This would indicate that in August 2021, the number of homes sold was 10 less than the comparable dates in 2020, and the average value of the homes was almost 21% greater with less days on market. This is a very positive sign for sales in Cheshire CT with only slightly less than 2 months of inventory and even less if the very large dollar listings are excluded.
For the year 2020, the market sales or absorption rate was 28 sales per month, with an average sales value of $381,857 and average days on market of 56. This rate with the current inventory would be a 1+ month absorption rate.
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 fluctuations in prices over the last 6 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.
Real Estate Market Statistics for Cheshire CT for August 2021