Cheshire, CT Market Report: 2011 In Review

Cheshire CT Real Estate Sales Report for January 2012

Currently in Cheshire CT there are 109 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 $474,309. The average days on market for these homes is 138 days. For the month of January, there were 25 additional homes listed for sale in Cheshire CT.

There are currently 14 homes under contract in Cheshire CT, with four (4) having gone under contract in the month of January. The average list price for the homes under contract is $415,116 with average days on market of 96 days.

In January, 7 homes closed in Cheshire CT. They ranged from a 2,312 sq ft, 4-bedroom colonial, which sold for $670,900 to a 912 sq ft 2-bedroom ranch which sold for $382,500. Average sales price of the homes that sold was $254,214. Average DOM of 129 days. The closed properties had a Sales price to List price ratio of 92%.

By comparison, there were 16 closings in Cheshire CT for the month of January 2011, with an average price of $371,650 and avg. days on market of 116. This indicates that there were more homes sold in 2011 at a considerably higher value in less days on market.

For the year 2011, the market sales or absorption rate was 16 sales per month, with an average sales value of $386,969 and average days on market of 101. The current inventory of homes is equivalent to a 6+ month inventory, which is a stable market.

There are currently 43 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 January, 4 condos closed in Cheshire CT with an average price of $180,300 and avg. days on market of 55.

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 January 2012

There is no question about it; there are some things one does not want to find during a home inspection. Now I am not speaking as a sissy home inspector who doesn’t want to run up against a big ugly spider in a crawl space or a beady eyed rat in an attic, I for surely don’t. Little friends that drop by unexpectedly are part of the job. What I am speaking of are certain “biggies” that send chills down the spine of an agent and can send a buyer running, not walking for the door.

What can be worse is when you bundle.

Walking the exterior of a house during a recent inspection I spied peeking above the soil like a U boats’ periscope, the vent of an under ground oil tank.

Biggie number one.

The news of an under ground oil tanks on the property is not often received like the news of a winning lottery ticket, it can be more likened to the news of a death in the family.

Usually.

This particular unrepresented buyer didn’t seem to understand all the hubbub. The blank look sort of clued me into to his cluelessness. Fortunately his better half had a better understanding.

The issue was presented to the unrepresented seller. Boy do I dislike FSBOs. “Oh, no problem the tank has been removed”, was his reply.

“Do you have paper work to show my clients that it has been properly removed”, was my retort now playing real estate agent. Did I mention I hate FSBOs.

“I did it myself” he said.

I don’t know if my jaw hitting the ground or the look on my face sent him scurrying after something. The unrepresented seller returned in a flash with a small opaque bucket. It was full of dirt.

“Here” he says, to the buyer, “you can have this tested” presenting the bucket of soil like it was a bundle of jewels. “It’s dirt from the yard where the tank was.”

Or dirt from the neighbor’s garden I’m thinking. This was just getting better and better. Bottom line, there is no paper work from a qualified tank removal company and no soil test declaring the site is clean. Did I mention the home is on well water, no I don’t think I did.

So my clients have this unrepresented sellers word the tank is gone and a bucket of dirt.

Perhaps they can bury their hopes for this house with the soil.

James Quarello
Connecticut Home Inspector
Former SNEC-ASHI President
NRSB #8SS0022
JRV Home Inspection Services, LLC

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Happy Valentine’s Day 2011

It’s Valentine’s Day and the most important thing to remember is to recognize that special someone in your life.

It’s expected that this year men will spend, on average $185 on their special Valentine, a large portion of which is the cost for that special dinner.

Women, on the other hand, will spend an average of $80 dollars on their special person.

The wise person in me will make no further comment on that statistic.

Happy Valentine’s Day