Prospect CT April 2022 Real Estate Market Trends

By
Real Estate Agent with Mapleridge Realty, CT 203-206-0754 REB.0759001

What Happened in The Prospect CT Real Estate Market Prospect April 2022?  

 

Prospect CT is a town of App 10,000 residents located in New Haven County. It is bordered by Waterbury, Cheshire, Naugatuck and Bethany.  One noted by Money Magazine as one of the top 300 towns in the Nation, it has since adopted the title of Best small town in CT.

It serves as a predominately residential community whose residents commute to the nearby towns.  It has a well recognized Regional school system shared with Beacon Falls CT.  It is also recognized as a well managed town with taxes under control. 

 Prospect CT April 2022 Real Estate Market Trends

Search for homes in Prospect CT

Currently in Prospect CT there are 12 active residential listings for sale, with 8 new listings added in April . The homes for sale in Prospect CT range from a 2,320 square ft, 4-bedroom colonial, listed at $239,900 to a 2,600 square ft, 4-bedroom colonial listed at $619,900. 

The average list price of the homes currently available for sale in Prospect CT is $489,358. The average days on market for these homes are 128 days. In addition, there are currently 10 homes in pending status and 14 homes under hard deposit in Prospect CT.

 

 Prospect CT April 2022 Real Estate Market Trends

In April 2022, 6 homes closed in Prospect CT. The homes that sold in Prospect CT ranged from an 1,409 square ft, 2-bedroom ranch, which sold for $283,000 to a 4,628 square ft, 5-bedroom colonial which sold for $795,000. The average value of the sold homes in Prospect CT in April 2022 was $422,533 with average days on market of 46 days.

By comparison, there were 7 closings in Prospect CT for the month of April 2021 with an average closing sales price of $264,257 and average days on market of 52. This would demonstrate that for Prospect CT in April of 2022, the market sales were 1less than the period of 2021 and with an average sales value almost 37% greater. This shows an increase in values and at least for this month with a decidedly lower inventory.

 

For the year 2021, the market sales or absorption rate was 8 sales per month, with an average sales value of $328,690 and average days on market of 49. 

With this absorption rate the current inventory equates to a 1 month inventory.  This is still a strong seller's market.

 Prospect CT April 2022 Real Estate Market Trends

The graph demonstrates the average monthly sales value in Prospect CT with strong gains from month to month highly representative of the concerns created by the lower interest rates and for people seeking to have more space around them. The values in Prospect CT have demonstrated an inconsistency in value over the second half of the year.

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.

If you would like information on homes for sale in Prospect CT please call me at 203-206-0754 or send me an email. I would be happy to assist you or to discuss homes on the market in Prospect CT.

 Homes for sale in Prospect CT

Prospect CT April 2022 Real Estate Market Trends

 

 

Posted by

 

Edward (Ed) Silva
Broker Associate

Serving Central Connecticut Sellers and Buyers

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Comments (8)

Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Morning Ed, thanks for sharing the latest market update for Prospect CT, and buyers and sellers would be wise to contact you when they are ready to move.

May 06, 2022 07:13 AM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Prospect sounds like a great place to live and to bring up children Ed Silva . BTW who is running the town, " taxes under control " it couldn't be politicians. 😄

May 06, 2022 07:35 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Ed and Happy Friday.  Thanks for the great information in your blog to share with us here in the Rain.  Make it a great weekend!

May 06, 2022 07:37 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Ed - this is good news for residents living in Prospect CT.  Not only are they sitting on value but now it is also the best small town in Connecticut.

May 06, 2022 07:52 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Prospect home buyers and sellers are sure to value your real estate market report, Ed.

May 06, 2022 01:38 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Ed that is a huge difference in the average sales price.  There must have been one or two very expensive homes sold last month to cause that big a difference.

May 06, 2022 03:32 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Ed... solid market in Prospect... I'm sure you're watching your markets very closely, as I am, to see what the impact for higher interest rates will be going forward.

May 07, 2022 05:57 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Your market reports include all the information that one would need to know about what is going on in the area!  I hope that you will have a fun weekend!

May 07, 2022 06:28 AM