February 2012 Market Report ~ Manchester CT

By
Real Estate Agent with Prudential CT Realty

February 2012 Market Report ~ Manchester CT

 

Homes for Sale in 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!

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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 (4)

Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Peggy, thinking positively, you have many under contract, which hopefully will increase pricing and help your housing!      Hope you have many of those homes U/C!

Mar 28, 2012 02:08 AM
Karen Hawkins, MBA - Langley & Surrey, BC
Royal Pro Real Estate Network - Langley, BC

Peggy, it looks like Manchester, CT is solidly working it's way to a positive housing market.  I echo Joan's comment that the under contract homes may see March being a start of an uptick in the trend! It really helps to have an agent that understands how to interpret the stats - thank you, Peggy, for doing just that!

Mar 28, 2012 03:27 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Peggy I am surprised that sales are down from January, because I was busier in February than January.

That 696 sq ft house must have been fun to find comps for :)

Mar 28, 2012 05:54 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Peggy,

I love your marketing report of your area of expertise. There's so much diversity with affordable prices for all! What a great time to buy with interest rates still low and the choices are many.

You've really done a great job marketing your area. I'm very, very impressed!

Patricia

Mar 31, 2012 05:39 AM

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