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Spring 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in Cheshire. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 203-910-2638
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| Average Home Price | $400,000 - View Graph Trend |
| Average Price Compared to Last Year | No Change |
| Average Time on Market | More than 120 days |
| Best Selling Price Range | $300,000 - $349,000 |
| Worst Selling Price Range | $1,000,000+ |
| Prices As % of Asking Price | 90-95% |
| Existing Home Prices for the past 90 days are? | No Change |
| Market Trend | Increasing |
| Buyers’ or Sellers’ Market | More sellers than buyers |
| Buyer Activity for the past 90 days in Cheshire is | Decreasing |
| Seller Activity for the past 90 days in Cheshire is? | Decreasing |
| Multiple Offers? | No |
| Multiple Offers Commentary | The homes in Cheshire that are priced correctly are seeing the most activity and often see multiple offers. There is a slow down of bank owned homes for the time being and that has helped with prices. This winter I believe we will see the foreclosures resume, and the prices will drop again. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 15-20% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | There are countless financing options for Cheshire CT home buyers. |
| Housing Inventory | Good supply - Some Prices |
| Inventory Comments | The have been far fewer sales through 9 months in 2011 than there were in the first 9 months of 2010. There have been 83 Closed/Sold properties in Cheshire through 9 months in 2011. that same period last year saw 149 properties close! |
| Greatest Activity | Repeat Buyers |
| Reason to Buy/Sell | Good economic news |
| Nearest Metro Area | New Haven |
| Housing Hot Spots | Most cities within the New Haven County area are considered ’Housing Hotspots’. These housing HOTSPOTS include Prospect CT, New Haven CT, Hamden CT, and Woodbury CT. |
| Average Sold Price | $400,000 - View Graph Trend |
Cheshire Local News
Agent quarterly survey shows growing optimism toward a housing market recovery
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
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Mortgage Rates
– May 28th, 2012 –
---------------------------------
30 yr. fixed rate: 3.82%---------------------------------
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%
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