Manchester CT Market Report for January 2012

By
Real Estate Agent with Prudential CT Realty

Manchester CT Market Report for January 2012

The new year is here, and we are all anxious to see how the real estate market will be.  In 2011 in Manchester CT, we saw a decrease in both total closed sales and median price. The big question now is: Will 2012 be a better year for real estate?

 

In Manchester CT, we are starting off with positive results for both number of closed sales, median price, average price, and list price/sales price ratio.

 

Here is the short view:

 

Summary January 2012 January 2011
Closed Sales 20 17
Median Price $172,500 $170,000
Average Price $186,441 $186,288
Median LP/SP Ratio 96.8% 94.8%
Average LP/SP Ratio 95.83% 91.09%
Median DOM 104 53
Average DOM 144 81

 

 

So overall, the results show that for January 2012 there was:

  • 15% increase in closed sales
  • 1.5% increase in median price
  • .01% increase in average price
  • 2.1% increase in median LP/SP ratio
  • 4.95% increase in average LP/SP ratio

 

There was also 49.1% increase in the median days on market and a 43.75% increase in the average days on market, so it is clearly taking longer to sell homes in Manchester CT.  With the active listings at 214 properties, 41 homes under contract, and 30 homes under deposit, the absorption rate is 14.25 months, supporting that it takes longer to sell homes in Manchester CT at this time.  With the spring market almost here and the large number of properties that will close in the near future, it will be interesting to see how the absorption rate changes over the next few months.

 

If you are looking for a home in Manchester CT, there are many great homes on the market. You can what is available below; you can also customize your search by changing the criteria.  If you would like your own individualized search, please contact me and I will be glad to set you up for automatic emails.

 

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Peggy Chirico

 

 

Peggy Chirico, REALTOR®
Serving the Greater Hartford Area
Prudential CT Realty
peggychirico@gmail.com

860-748-8900

If you are buying or selling a home in Hartford County or Tolland County, please call me, email me, or visit my website.  I would be happy to help you with your home search or provide a market analysis for your home.

Find your dream home now!

                                                                       

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Comments (6)

Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Thanks for the update...on your current market.

Feb 27, 2012 11:02 PM
Scott Baker
www.eHomeReports.com Coldwell Banker Realty - Liberty Township, OH
Realtor Homes for Sale Cincinnati/Dayton Ohio

Mixed bag isn't it Peggy? Prices are holding which is great. At least it would be in my area, but the Days on Market, wow, they have really moved up haven't they.

Thank you

Feb 27, 2012 11:04 PM
Barbara Altieri
Better Homes and Gardens RE Shore and Country Properties - Shelton, CT
REALTOR-Fairfield County CT Homes/Condos For Sale

Peggy -- There definitely seems to be more stability now. I like your addition of the RB listings to your post. Looks nice. I used to use it at one point, then switched to the MLS IDX solution. Now that is going away this summer. This appears to be much improved and is certainly a convenient way for Manchester buyers and sellers to check out listings.

Feb 28, 2012 07:21 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Peggy that is positive news, and I been hearing the same for many parts of the State.  Let's hope that this is the trend for the rest of the year.

Feb 28, 2012 09:16 AM
DeeDee Riley
Lyon Real Estate - El Dorado Hills CA - El Dorado Hills, CA
Realtor - El Dorado Hills & the Surrounding Areas

Hi Peggy,

Great market report for Manchester!  Seeing these prices, I hope buyers and sellers understand that we work hard for the money we earn! 

Feb 28, 2012 10:25 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Peggy, you put a lot of great information together to show the stats for Manchester CT, and hope the trend does continue!  Great job!

Mar 03, 2012 09:04 AM