February 2012 Market Report ~ Manchester CT
During February 2012, there were 18 closed sales in Manchester CT with a median price of $151,750; the average price was $147,883.
The lowest priced home was a two-bedroom, one-bath, 696 sq. ft. ranch which sold for $58,500. The highest-priced home was a three-bedroom, 2.1 bath colonial with 2172 sq. ft. which sold for $255,000. The median list price/sale price ratio was 96.1%.
When we compare February 2012 to February 2011, we see that while the closed sales increased this year (18 in 2012 vs. 10 in 2011), the median price and average price were down significantly. The median price in February 2011 was $189,000 and the average price was $223,190.
February's statistics were also down in both closed sales and median price from January 2012, which posted 20 closed sales, a median price of $172,500, and an average price of $186,441. The median list price/sale price ratio was 96.8%.
On the plus side, however, there are currently 55 homes under deposit so we should expect that March will show some gains in the number of closed sales. In addition, there are 39 homes under contract.
If you are looking for a home in Manchester, you will have plenty of opportunities to find your perfect home. There are 240 homes on the market, with a median price of $179,900. These range from a three-bedroom, one-bath colonial with 1428 sq. ft. on Summit Street for $78,500 to a four-bedroom, 3.1 bath contemporary colonial with 4000 sq. ft. to be built in 2012 for $759,000. You can preview some of the listings below!