Cheshire, CT

Cheshire CT Real Estate and Homes for Sale, October 2009 Market Report

Home Sales for Cheshire - October 2009 sales were 18, down -14.3% from 21 in October for 2008 and -10.0% lower than the 20 last month.

October YTD Sales of 167 are running 5.0% ahead of last year's year to date sales of 159.

Prices - The Median sales price in October was $350,000 down -2.2% from $358,000 in October of 2008 and up 5.1% from $333,000 last month.

Inventory - The total inventory of homes available for sale as of October was 170, up 9.0% from 156 last month and up 11.1% from 153 in October of last year.

A comparatively low MSI (month's supply of inventory) is more beneficial for sellers while a higher MSI is better for buyers.

MSI ( months supply of inventory) for October of 9.4 months was it highest level compared with October of 2008 and 2007.

Market Time - The average Days On Market (DOM) shows how many days the average home is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyers market, a downward trend a move towards more of a Seller's market.

The DOM for October was 73 up 17.7% from 62 days last month and down -21.5% from 93 days in October of last year.

Cheshire CT Home Sales Market Report for September 2009

Home Sales

Home sales in Cheshire CT for September 2009 were 20, up 54% from 13 in September of 2008 and -31% lower than the 29 sales last month. September YTD sales of 149 are running 8% ahead of last year's year to date sales of 138.

Prices

The Median sales price in September was $333,000, up 22.7% from $271,300 in September of 2008 and down -17.8% from $405,000 last month. The average sales price in September was $342,000 down -2.3% from $350,189 in September and down 17% from $411,990 last month.

Inventory & MSI

The total inventory of homes available for sale as of September was 162, up 11.7% from 145 last month and down 4.7% from 170 in September of last year. September 2009 Inventory was at its lowest level compared with September on 2008 and 2007.

A comparatively low MSI (month's supply of inventory)is more beneficial for sellers while a higher MSI is better for buyers. The September 2009 MSI of 8.1 months was at its lowest level compared with September of 2008 and 2007.

Market Time

The average Days On Market (DOM) shows how many days the average home is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyers market, a downward trend a move towards more of a Seller's market. The DOM for September was 62, down -24.4% from 82 days last month and down -8.8% from 68 days in September of last year.

Pratt and Whitney announced today, September 21 that it will begin closing the Cheshire Connecticut plant and a related unit in East Hartford starting in 2010, eliminating 1,000 jobs. The Cheshire plant is scheduled to close by early 2011.

Pratt & Whitney said that it explored all options to keep the Cheshire plant open. The decline in demand for their product and the staggering economy was the reason for the decision. The decision followed two months of discussion between Pratt & Whitney , the state of Connecticut and the union. It has been reported that the work will transfer to Columbus (Georgia), Singapore and Japan.

This is a sad day for everyone in Connecticut. It has been estimated that job losses can reach as many as 6,000 as engine component manufacturers and suppliers will feel the impact of Pratt & Whitney’s decision.

Kate Collins is a Connecticut Real Estate Specialist that can help you with your real estate needs. To search for homes for sale in Connecticut please visit BesthomesCT.com. You can do a search with full access of the statewide MLS. If you have any questions on buying or selling a home please call me on my cell: 203-376-6036.

Cheshire CT Real Estate report for January - August 2009. The graph below reflects the list median price vs the sold median price for single family homes and condos in Cheshire CT.

With the exception of January, the list and sold price are fairly close. In June and August, the sold price was higher than the list price.

If you are thinking of selling your home in Cheshire CT or in Bethany, Branford, Hamden, North Haven, Prospect, Woodbridge, and Wallingford please contact Kate Collins, Realtor®, Coldwell Banker at 203-376-6036. I will be happy to assist you and answer all of your questions you might have about selling your home.

Copyright © 2009 by Kate Collins, All Rights Reserved

The graph below reflects New Haven County median single family home sales price by town from Jan - June 2009. New Haven County CT consist of 27 towns. The majority of the homes sold between $325k- $375k. Nearly 15% sold on the low end between $122k-$175k while 7.41% sold on the highest end between $375k- $472k.