Prospect, CT

PROSPECT, CT REAL ESTATE – MARKET UPDATE NOVEMBER 2009

These are the latest statistics for the Prospect, CT real estate market for the month ending on October 31, 2009:

Active Listings	50
New Listings	0
Average List Price	$338,560
Median List Price	$359,900
Average Sq. Ft.	2221
Median Sq. Ft.	2215

There are 50 homes for sale in Prospect , 18 of which were listed within the last month. Here's a breakdown of the prices of the homes for sale in Prospect :

List Price	Houses	%
< 200,000	6	12
200,001-250,000	7	14
250,001-300,000	7	14
300,001-350,000	4	8
350,001-400,000	9	18
400,001-450,000	9	18
450,001-500,000	3	6
>500,001	5	10

You can search for homes for sale in Prospect, CT by visiting William’s Places !

Now, for a look at what has sold in the Prospect area:

Closed Listings - 8	Average	Median
Days on Market	111	101
List Price	$273,775	$270,400
Sale Price	$266,100	$265,250
Sq. Ft.	1641	1186
LP/Sq. Ft.	$169.31	$179.22
SP/Sq. Ft.	$165.13	$176.30
SP/LP Ratio	98%	98%

The average sales price for homes in Prospect rose back to its customary numbers in October, with all but two of the homes in Prospect, CT being over 250k.

These were the 8 houses that won the homes sold contest in Prospect, CT :

Address	L/Price	S/Price	DOM
26 CAMBRIDGE DR	499,900	490,000	176
72 COACHLIGHT CIR	399,900	370,000	224
13 LEE RD	275,900	275,900	28
198 MATTHEW ST	259,900	255,500	58
3 ROLLING RIDGE CT	279,900	275,000	93
77 SALEM RD	189,900	187,500	107
170 SUMMIT RD	19,900	19,900	182
11 WOODCREST DR	264,900	255,000	22

Prior Prospect, CT Market Reports :

Prospect, CT Real Estate - Market Update October 2009

Prospect, CT Real Estate - Market Update September 2009

Prospect, CT Real Estate - Market Update August 2009

Prospect, CT Real Estate - Market Update July 2009

Prospect CT Market Update June 2009

Prospect CT Market Update May 2009

Prospect CT Market Report April 2009

Prospect CT Real Estate and Homes For Sale, October 2009 Sales Report

Home Sales for Prospect CT: October 2009 sales were 7, down 22.25% from 9 in October of 2008 and 16.7% higher than the 6 sales last month.

October YTD sales of 62 are running 5.10% ahead of last year's year to date sales of 59.

Prices - The Median sales price in October was $275,000 compared to $215,000 for last month and down -7.3% from $296,500 in October 2008.

Inventory - The total inventory of homes available for sale as of October was 51, down -5.6% from 54 last month and down -12.1% from 58 in October last year. October 2009 Inventory was at its lowest level compared with October 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 October 2009 MSI of 7.3 months was at a mid 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 100 down -27.5% from 138 days last month and down -42.2% from 173 days in October of last year.

Prospect CT Home Sales Market Report for September 2009

Sales

Home sales in Prospect CT for September 2009 were 6, down -45.5% from 11 in September of 2008 and -60% lower than the 15 sales last month. September YTD sales of 55 are running 10% ahead of last year's year to date sales of 50.

Prices

The Median sales price in September was $215,000, down -29% from $302,500 in September of 2008 and down -16% from $255,000 last month.

Inventory & MSI

The total inventory of homes available for sale as of September was 56, down -6.7% from 60 last month and down 6.7% from 60 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 o f9.3 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 138, up 84% from 75 days last month and up 22.1% from 113 days in September of last year.

Prospect Republicans on Team Chatfield won EVERY Position...

The "unofficial" results are.

Mayor: Robert J. Chatfield 2,040 Votes to Charles Mallon 590 Votes

Town Council : Robert E. Doyon 1,708 Votes
Thomas J. Galvin 1,692 Votes
Douglas B. Merriman 1,830 Votes
Stanley Pilat 1,584 Votes
Jeff Slapikas 1,518 Votes

Town Clerk: M. Carrie Anderson 1,954 Votes to Marian Charest 588


Town Treasurer: David R. Young 1,744 Votes to Lorraine Dixon 774


Tax Collector : Diane M. Lauber 2,237 Votes (unapposed)

Planning and Zoning Commission: Al Delelle 1,507 Votes

Alan Havican 1,684 Votes

Zoning Board of Appeals: David Jones 1,905 votes Suzane Loud 1,158

Regional Board of Education: Lisa DeGoes 2,183 Votes (unopposed)
Four (4) Tear Term Robert Hiscox 2,026 Votes (unopposed)

Regional Board of Education: Donna Cullen 2,087 Votes (unopposed)
Two (2) Tear Term David T. Wartko 2,032 Votes (unopposed)

Board of Assessment Appeals: Marie Kluge 1,924 Votes
Lisa Mason 1,924 Votes

Prospect, CT - Pumpkin Festival, October 24, 2009

Driving on my way to school on last Saturday, I noticed rows upon rows of pumpkins lined outside of Prospect Town Hall . On my way back home, I was able to stop by and see what it was all about.

Every year, the students in the Prospect elementary schools, from pre-K up to 6 th grade let their imaginations come to life in their decorations of pumpkins, which are then put on display for everyone passing by to see in the Prospect, CT Pumpkin Festival .

It was truly amazing to see what these youngsters came up with. From fairies to princesses to Santa’s to pirates to comic book characters, the Prospect, CT Pumpkin Festival was truly a sight to behold, and a joy to watch.

Of course, it just had to be raining on the day of the Prospect, CT Pumpkin Festival , but it did not matter – people still stopped by to look at the wonderful creations of Prospect’s children. It will be very interesting to see what these creative youngsters come up with next year!