$6,589 Closing Credit*
$554,900
2,114 SqFt
4 Beds
•2 Full Baths, 1 Partial
Georgia Labonne, Listing Office: William Pitt Sotheby's Int'l
Is Preston, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Preston has remained a Seller's Market.
Key Takeaway
Preston is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Preston, CT
How much do homes in Preston, CT cost?
Median Sold Price
$355,000
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$3,950(+1.1%)
Key Takeaway
Homes in Preston have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in Preston was $355,000 in October 2024, up 1.1% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $206K | $215K | +4.4% |
| 2 Bedrooms | $235K | $265K | +12.8% |
| 3 Bedrooms | $350K | $380K | +8.6% |
| 4 Bedrooms | $440K | $352K | -20.0% |
| 5+ Bedrooms | $250K | - | N/A |
Summary: Preston housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.4%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 8.6%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Gales Ferry | $325K | $390K | +20.0% |
| Lisbon | $285K | $337.5K | +18.4% |
| Ledyard | $330.3K | $380K | +15.0% |
| Norwich | $225.2K | $252K | +11.9% |
| Preston | $351K | $355K | +1.1% |
Housing Supply in Preston, CT
How many homes are available in Preston, CT?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 21 | +5.0% |
Summary: The Preston real estate market had 21 homes for sale in October 2024, a 5.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 11 | 12 | +9.1% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Preston housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 9.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Preston, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Preston in October 2024, up by 50.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% were sold over asking.
Days on Market for Preston, CT
We’re sorry, we don't have information for this market at the moment
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