Prospect, CT

Here's a peek at the current real estate market in Prospect, CT:

Active Listings	57
New Listings	0
Average List Price	$350,205
Median List Price	$349,500
Average Sq. Ft.	2235
Median Sq. Ft.	2175

The inetersting thing about Prospect's market at the moment is that there are no new listings within the last month, so you know from that infromation that the majority of the homes for sale in Prospect have been on the market for over a month, at least.

This is the price range of single-family homes in Prospect:

List Price	Houses	%
< 200,000	4	7
201,000-250,000	10	17.5
251,000-300,000	11	19
301,000-350,000	5	9
351,000-400,000	10	17.5
401,000-450,000	8	14
451,000-500,000	3	5
>501,000	6	11

Now, let's take a look at what's sold in Prospect in the last month:

Closed Listings - 6	Average	Median
Days on Market	22	20
List Price	$182,700	$191,950
Sale Price	$174,500	$178,000
Sq. Ft.	1454	1587
LP/Sq. Ft.	$123.85	$136.66
SP/Sq. Ft.	$117.90	$126.15
SP/LP Ratio	95%	95%

So far, Prospect has the best record of any of the towns in the Greater Waterbury area for average days on market and shares that distinction with two other areas with regard to list price/sale price ratios. The interesting thing about that is the fact that the average list price is over $175K more than what the average home sold for. So, who were the winners in the Prospect home sales contest last month? Let's see:

Address	L/Price	S/Price	DOM
38 VALLEY LN	68000	55000	1
118 WATERBURY ROAD	99900	110000	8
24 LEE ROAD	284500	280000	50
70 SUMMIT	209000	186000	39
15 PINECREST DR	259900	246000	33
9 BUCKLEY LN	174900	170000	1

Visit Prospect, CT for information about the town and local events. Looking for homes for sale in Prospect, CT? Stop by William's Places to start your home search.

The annual Prospect, Ct lunch with the Easter Bunny and Easter egg hunt is here again!

The Esatert Egg and Candy hunt is Saturday April 11th, 2009 at 11am. It will be on the Town Green, weather permitting. Be sure to get there a few minutes early, because if you are a few minutes late.....There will be nothing left.

They always divide into sections by age group of the children and there is plenty of loot for everyone!

Directly following the egg hunt everyone heads across the street to the Prospect Fire House for lunch with the Easter Bunny. Last year the cost was $5 and included; chips, hot dog, soda and a cookie. The money went to the Amber Alert group. The Amber Alert Group will also be setup to take photos and register children into their system and issue ID cards. You can find out more about Amber Alert here http://www.amberalert.gov/

It is always a GREAT time for all!

The Prospect Lady's auxiliary will also be there to sell Easter Flowers.

David J Jones
Broker/Owner, REALTOR, e-Pro
Dave Jones Realty, llc
PO Box 7363
Prospect, Ct 06712
203.758.0264 phone
203.758.0771 fax
www.DaveJonesRealty.com

Prospect Ct Real Estate Market Report March 2009

The Average list price for the homes that closed in Prospect for March of 2008 was $311,642

The Average list price for the homes that closed in Prospect for March of 2009 was $205,640 (-$106,002)

The Average sale price for the homes that closed in Prospect for March of 2008 was $297,471

The Average sale price for the homes that closed in Prospect for March of 2009 was $198,400 (-$99,071)

The Average Market time for the homes that closed in Prospect in March of 2008 was 55 days.

The Average Market time for the homes that closed in Prospect March of 2009 was 26 days. (-29 days)

The Average Home Size for the homes that closed in Prospect for March of 2008 was 2,004

The Average Home Size for the homes that closed in Prospect for March of 2009 was 1,557 (-447)

The Average Selling Price per Square foot for the homes that closed in Prospect in March of 2008 was $165.44

The Average Selling Price per Square foot for the homes that closed in Prospect March of 2009 was $129.75 (-35.71)

I think that is shown here is that people are getting a lot more realistic on pricing. and also people are buying much Smaller, older, less expensive homes on average. This is displayed by the Huge decrease in asking price ($15,844 decrease) but only a drop of $8,597 drop in sales price.

In March of 2009 there were 5 homes that closed within the month for Prospect Connecticut. This is a decrease of 2 units, as there were 7 homes that closed in March of 2008.

13 homes went under agreement in Prospect Ct in the month of March. The average list price of the homes that went under agreement was $295,315 The average time on the market for these Prospect homes were 73 days.

** The above statistics are for single family homes only and do not include condo's or Multi-family homes in Prospect CT.

In comparing year over year longer term data for Prospect CONNECTICUT, it appears that there is still a downward trend in the average sale price for homes, as well as an increase in the days on the market for the same period in Prospect CT. There was also a substantial decrease in the number of properties sold in the January to December time frame in Prospect Ct over the past year!

Selling a home in Prospect Connecticut or other New Haven County towns is as always, dependant on pricing your home properly and picking an agent that will create an "online market presence" for your home. As a home seller, you need to be aware that the market in Prospect and many other New Haven County communities has changed over the last three and a half years. We are no longer in a seller's market. When selling a home in Prospect Connecticut, it pays to have a professional on your side representing you.

The 5 homes that closed in March 2009 were

9 Buckley Lane, Prospect, CT 06712 Listed at $174,900 and sold at $170,000

24 Lee Road, Prospect CT 06712 Listed at $284,500 and sold at $280,000

15 Pinecrest, Prospect,CT 06712 Listed at $259,900 and sold at $246,000

70 Summit Road Prospect,CT Listed at $209,000 and sold at $186,000

118 Waterbury Road, Prospect,CT Listed at $99,900 and sold for $115,000 (multiple offers)

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About the Author: This Prospect Connecticut Real Estate market report was provided by David Jones of Dave Jones Realty, llc. Dave can be reached by email at dave@davejonesrealty.com or by phone at 203-758-0264. Dave & Lori have helped people move in and out of Prospect CT and other Prospect Valley towns .

Thinking of selling your home? My wife and I have a passion for Real Estate and love to share our marketing expertise!

For Connecticut and Prospect CT Real Estate and homes see Prospect Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service the following towns in Central CT: Prospect, Prospect, Cheshire, Woodbury, Middlebury, Hamden, Waterbury, Wolcott, Torrington, West Hartford, Bethany, Beacon Falls, Terryville & Thomaston CT.

Click here to view Dave's Real Estate profile

http://www.rep-am.com/News/399952.txt

The front page of the Waterbury republican talks about home sales here in Ct. dropping 35% from January 08'. Although they do notice people have a "renewed interest in the State market".

I ran my own January 08' vs. January 09' comparison for the towns my brokerage are most active in.

Prospect,Ct

Cheshire,Ct

Waterbury,Ct

Naugatuck,Ct

Wolcott,Ct

Beacon Falls,Ct

Bethany,Ct

January 2008

VS.

January 2009

Now these numbers are slightly skewed due to the fact there were 6 properties that were foreclosures that were very rough. These homes are often "Cash Only" sales seeing as though no bank will allow a mortgage on them. One actually sold for $14,000 and the other 5 were right around $30,000. I removed those 6 from the chart below and the average sales price is "Up" to $129,500. Still a far cry from the $219,900 in 2008.

January 2009 without Foreclosure

Well this should be fast Market update since it was a low production month here in the great town of Prospect!

Only 3 properties sold.

8 Brookwood Court Listed at $260,000 sold for $262,000 in 14 days.

133 Summit Road listed at $249,900 sold for $218,000 in 235 days.

and 12 Scott Road. Listed at $247,500 sold for $238,500 in 21 days.

The three homes aveaged 1,400 square feet.

If we flash back to January 2008 there were only 2 closings, but BOTH were over $400,000 and averaged over 3,100 square feet. I see a trend of smaller, more affordable housing ushering in the spring market.

David J Jones
Broker/Owner, REALTOR, e-Pro
Dave Jones Realty, llc
PO Box 7363
Prospect, Ct 06712
203.758.0264 phone
203.758.0771 fax
www.DaveJonesRealty.com

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