Properties for Sale in Manchester CT - February 2010 Market Report

Manchester CT Real Estate Market Action Report
February, 2010

 The data for the month of February 2010 as it relates to properties for sale in Manchester CT is: 

• Property Sales
• Inventory
• Market Time
• Selling Price vs. Original Listing Price

Property Sales
The number of homes that sold in Manchester CT in February 2010 was 12.  This was a decrease of 52% compared to 25 properties that sold the prior month.  This was also a decrease of 57.1% from 28 properties sold in February 2009. 

Inventory
The number of homes available for sale in Manchester CT has remained pretty consistent over the last several years.  The total inventory of properties available as of February 2010 was 256 which is an increase of 4.1% from 246 in January, although down .4% from 257 properties for sale in Manchester CT in February of 2009.

Market Time
The term average Days on Market or (DOM) shows how many days the average property is on the market before it sells.  The DOM for Manchester CT was 39 for February 2010.  This is a 50.6% decrease from 79 days the prior month.  More importantly, for you the consumer, this downward trend of DOM for properties for sale in Manchester CT indicates a seller's market. 

Selling Price vs. Original Listing Price
The selling price versus the original listing price reveals the average amount that sellers are willing to come down from their original list price.  The lower the ratio is below 100% indicates more of a buyer's market.  The current ratio for properties for sale in Manchester CT is 94.4% indicating a buyer's market.

In this ever fluctuating real estate market, it's good to know what the current trends are when looking for your new property for sale in Manchester CT.  Each month, I will give you all the information you need to understand this.  As always, if you need further answers or clarification please contact Brian Burke at (860) 798-3272 or send an email to burkecthomes@gmail.com.