2011 was a rough year for home sellers in Cheshire, CT . 259 homes in Cheshire, CT sold through the year, which is down roughly 14% from 2010. At the same time the average sales price of homes sold is up by 11% over 2010 at an average of $341,619, so although sold inventory is down overall, homes in a higher price bracket are selling.

Should the trend continue, 12% of the 174 homes currently on the market in Cheshire will sell in any given month. Another telling figure is the amount of homes that expired in 2011. An expired home is a home that goes on market, but ultimately just does not sell at. In 2011, 136 homes in Cheshire expired unsold – leaving the odds of successfully selling at roughly 60%.

The average price of homes currently on market is $389,879…a 12% difference from what homes are actually selling at. What does that mean to you as a Cheshire home seller? If you are considering going on market, you will have to be very realistic about the value of your home if you wish to successfully sell. You only have a 60% shot at selling your home at all. How do you make it happen in this market? With an aggressive marketing plan, and most importantly – THE RIGHT PRICE. An experienced CT Realtor can guide you through this.

Short sales and foreclosures in Cheshire in 2011: Out of all sold homes in 2011 3% were short sales and 5% were bank owned (foreclosed). 6% of all currently listed homes are short sales, while 7% of homes are bank owned – making distressed homes 13% of the current inventory in Cheshire, CT.

What will 2012 hold? Only time will tell.

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