Manchester CT 2016 Real Estate Review
The year 2016 is great for Manchester CT real estate market. Manchester CT 2016 Real Estate Review summarizes the following:
- The month of May has the highest number of units sold and highest average sold price. In 2015, July has the most number of units sold. However, the highest average sold price is captured by the month of June.
- Thirty Nine (39) more units are sold in 2016 compared to 2015.
- In 2016, January is the slowest month while in 2015, it is the month of March.
- April 2016 has the lowest average sold price. In 2015, the month of February has the lowest average sold price.
- Thus, the best months in 2016 in terms of units sold are May, August and June, respectively.
- In 2015, July, August and September are the best months
- Most Expensive Home Sold in 2016: $599,900 with 6025 square feet, 7 bedrooms and 7 bathrooms.
- Average Sale Price in 2016: $187,348 with 1,628 square feet, 3 bedrooms and 2 bathrooms
- Average Sale Price in 2015: $180,056 with 1,656 square feet, 3 bedrooms and 2 bathrooms.
- Median Sale Price in 2016: $167,000
- Median Sale Price in 2015: $ 159,900
The Median Price separates the upper half from the bottom half. Using this information, it can be gleaned that Manchester CT real estate market is appreciating.
The market inventory in 2016
The notion and popular opinion that there are more inventories in the spring time is not true in 2016 as more properties are listed for sale in the summer with the month of August capturing the highest volume in terms of total amount even though August and July registered the same number of units listed.
Manchester CT has 134 single family homes for sale as of this writing. Last year, there are 190 units for sale during the first week of January. Unless more houses are added to the pool, home prices might go up if demand increases.
Based on one-year historical sales, the current inventory of 134 homes is expected to be depleted within three months.
This Review of Manchester CT Real Estate in 2016 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.
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