Manchester CT 2015 Real Estate Review
The year 2015 was great for Manchester CT real estate market. Manchester CT 2015 Real Estate Review summarizes the following:
- The number of units sold for each month is higher except for the months of March and December compared to the respective months in 2014.
- Fifty three units (53) were sold more in 2015 compared to 2014.
- The most number of homes sold in 2015 transpired in July
- Interestingly, the month of December had the same units sold as in the month of September with 53 homes sold.
- August ranked as the second best month having garnered 64 units sold followed by June.
- Thus, the best months were July, August and June, respectively.
- Most Expensive Home Sold in 2015: $625,000 with 4,845 square feet, 7 bedrooms and 7 bathrooms
- Most Expensive Home Sold in 2014: $448,700 with 5,896 square feet, 6 bedrooms and 5 bathrooms.
- Average Sale Price in 2015: $175,758 with 1,616 square feet with 3 bedrooms and 2 bathrooms
- Average Sale Price in 2014: $188,315 with 1,656 square feet with 3 bedrooms and 2 bathrooms.
- Median Price in 2015: $159,900
- Median Price in 2014: $ 164,000
The Median Price separates the upper half from the bottom half. The data from the 2015 and 2014 above show that even though the units sold in 2015 are higher by 53 units, there are more homes sold below $159,900 while in 2014, the median price is higher. An appreciating market shows rising median price and not declining median price.
The market inventory in 2014 and 2015
The notion and popular opinion that the best time to put properties up for sale in Spring was true in 2014 wherein the highest inventory of 100 units were posted in May. The second rank went to March with 94 units. July came in third with 91 units… which was already summer time.
In 2015, June claimed the month with the highest inventory posting 112 units followed by April with 108 homes and then by May with 107.
Based on the data presented, there was no indication that the Manchester CT Real Estate Market’s value was appreciating despite the increase in its sales volume in 2015.
Manchester CT has 190 single family homes for sale as of this writing. Based on a two-year historical sales, this inventory is expected to be depleted within 4 to 5 months.
This Review of Manchester CT Real Estate in 2015 is provided to you by Maria Gilda Racelis of Home Buyers Realty. If you are looking to buy or sell homes, do not hesitate to contact her at 860-995-9473. Visit her website www.amazingcthomes.com for real-time listings and for valuable real estate resources.
Homes from $200,001 to $300,000
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