Manchester CT Real Estate Update
What makes Manchester Connecticut great for people who are buying for the first time or downsizing is that this town offers a wide range of homes for sale that are both affordable and decent. For an inclusive monthly payment of under $1600, the buyers can comfortably obtain a home in an established and desirable neighborhood.
This Cape Cod home, which sold this month, is very typical in the neighborhood. It has 1,348 square feet, 1 full bath and 1/4-acre land. The listing price is $139,900. The house has been meticulously maintained by the owner.
And the buyers are very happy with the overall condition.
Indeed, Manchester Connecticut offers tremendous homeownership opportunities at decent price points.
Currently, there are 255 properties for sale in Manchester CT. The average listing price is $228,785 with average square feet of 1,836, 3 bedrooms and 1 and 1/2 bathrooms.
127 properties, as of this writing, have pending sales. The average listing price for these units is $181,192 with 1,660 square feet, 3 bedrooms and 1 and 1/2 bathrooms. The average listing of the homes currently available for sale is higher relative to the size compared to what has been available in May. This means that bigger homes entered the market’s inventory
The months of April and May showed the same number of units sold. In May, the average sale price for the 32 units is $182,384 with average size of 1,686 square feet. The average days on the market is 79 days. In April, the average sale price is $162,928 with corresponding average square feet of 1,437. The average days on the market is 83 days.
Although the month of May shows higher average sale price, the ratio of sale price to square foot in April is $113.57 which is higher compared to that of May— $109.58. View May 2014 Real Estate Market Report
Using a six-month sales history, the current inventory of 255 homes is expected to be depleted within 8 months. The buyers still have the leverage but if the house is priced competitively and aggressively, multiple bids are common scenarios these days.
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