Cheshire, CT

2011 Year End Real Estate Market Update for Cheshire CT

For the year 2011, the market sales or absorption rate in Cheshire CT was 16 sales per month. Market absorption trends show the rate that properties are selling compared with inventory which enables us to see if it is a sellers’ or buyers’ market. 6 months worth of inventory is considered a balanced market. Under 6 months is a sellers’ market and anything over 6 months is a buyers’ market.

The average value for the homes sold in Cheshire CT for the year was $386,969 with an average days on market of 101. The current inventory of homes is equivalent to a 13 month inventory.

The list price ratio to sales price ratio was 96%, which indicates sellers putting the homes on the market near to fair market value, or finally getting them sold at market value.

The highest value home sold in Cheshire CT in 2011 was a 5,888 sq ft, 5-bedroom colonial which sold for $1,849,000.

By comparison, for calendar year 2010, the absorption rate was 17.5 units per month, with an average sales price of $347,744 and average days on market of 99. For 2011, there were less homes sold on average per month and at a slightly higher price in almost the same number of days on market.

The highest value home sold in Cheshire CT in 2010 was a 6,050 sq ft, 5 bedroom colonial home which sold for $1,125,000.

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 Cheshire 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 Cheshire CT.

2011 Year End Real Estate Market Update for Cheshire CT

Cheshire CT Real Estate Sales Report for December 2011

Currently in Cheshire CT there are 108 active residential listings for sale. They range from a 770 square ft, 1-bedroom bungalow listed at $137,500 to a 5100 square ft, 4-bedroom contemporary ranch estate listed at $1,700,000.

The average list price of the homes currently available for sale in Cheshire CT is $480,147. The average days on market for these homes is 159 days. For the month of December, there were 16 additional homes listed for sale in Cheshire CT.

There are currently 15 homes under contract in Cheshire CT, with four (4) having gone under contract in the month of December. The average list price for the homes under contract is $398,319 with average days on market of 129 days.

In December, 8 homes closed in Cheshire CT. They ranged from a 3,300 sq ft, 4-bedroom, new construction colonial, which sold for $670,900 to a 1,784 sq ft 4-bedroom ranch which sold for $235,000. Average sales price of the homes that sold was $436,690. Average DOM of 78 days. The closed properties had a Sales price to List price ratio of 99%.

By comparison, there were 22 closings in Cheshire CT for the month of December 2010, with an average price of $346,250 and avg. days on market of 101. This indicates that there were less homes sold in 2011 he same number of homes sold at a higher value, with less days on market.

For the first 11 months of 2011, the market sales or absorption rate was 17 sales per month, with an average sales value of $384,853 and average days on market of 102. The current inventory of homes is equivalent to a 6+ month inventory.

There are currently 45 condos for sale Cheshire CT. They range in price from $651,600 for an over 55 Adults only 2,850 sq ft, 3-bedroom unit to $72,000 for a 1-bedroom, ranch style efficiency unit. There are currently four (4) condos under contract in Cheshire CT.

In the month of December, 5 condos closed in Cheshire CT with an average price of $194,600 and avg. days on market of 75.

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 Cheshire 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 Cheshire CT.

Cheshire CT Real Estate Sales Report for December 2011

Secret Recipe Revealed - Rita's Chocolate Cake

This recipe is a favorite of the extended Canfield family. My cousins in Virginia refer to it as RCC. When my cousin got married, a woman named Rita was attended the gathering, and she quickly found out that she was a celebrity. "Not THE Rita?!" was the typical greeting. She thought it quite funny that all these years we had been dedicating this cake to her as she got the recipe from a neighbor! So this recipe reveal is dedicated to Rita's memory, as she passed away a number of years ago . . .

This recipe is all about the frosting, so don't make changes to that part! : )

Rita's Chocolate Cake

1 cup hot coffee

3 cups sifted flour

2 cups sugar

1/2 cup cooking oil

2 tsp. baking soda

pinch of salt

2 tsp. vanilla

1 cup milk

2 egg yolks

4 oz. unsweetened chocolate, melted

Combine ingredients and beat thoroughly. This is a very thin batter. Pour into 12 x 18 inch cake pan. Bake at 350 degrees for 25 minutes.

Frosting

1 lb. confectioner's sugar

1/2 lb. butter (yes, two sticks!)

1 tsp. vanilla

warm milk to make of spreading consistency

Hats off to Rita!

Summer 2011 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




Average Home Price

$400,000 - View Graph Trend







Average Price Compared to Last Year

Up 0-5%







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

Secret Recipe Revealed - Key Lime Cake

I have to be honest. This is my favorite cake. I always hope that whenever a birthday comes along, it will be the cake chosen. I always know it will be MY birthday cake. It can be done as a bundt cake, but as I love my butter cream frosting, my wife always makes this as a layer cake. Yes, it is a modification of a cake mix, but I have never tasted a key lime cake any better that was done from scratch! Hope you like it as much as I do!

Key Lime Cake

1 box Duncan Hines Lemon Cake Mix (don't get a brand with pudding already in the mix!)

4 oz. instant lemon pudding mix

4 eggs

1/2 cup water

1/2 cup vegetable oil

1/2 cup key lime juice (found next to the lemon juice in the grocery store)

Mix all ingredients and beat on high speed for two minutes. Pour into greased and floured pan(s) bake at 350 degrees:

Pan Size/Baking Time:

2, 9 inch round pans - 25-30 minutes

13 x 9 inch pan - 30-40 minutes

Bundt pan* - 35-45 minutes

*Cool for 20 minutes before removing from pan.