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February 2015 Manchester CT Real Estate Market Report: Great Information for First-Time Home Buyers
Manchester Connecticut offers a variety of home styles at affordable price points. First-time home buyers should take advantage of it.
February 2015 Manchester CT Real Estate Market Don’t you want to paint your walls without worrying about the landlord?
With the current mortgage interest rate at historical low--under 4 percent for qualified borrowers-- and affordable home prices, these are favorable conditions for first-time home buyers.
In Manchester Connecticut, there is a huge inventory of homes under $250,000. I love living in Manchester Connecticut.
Find out what's happening in Manchesterfor free with the latest updates from Patch.
In this town, convenience should not be taken for granted. It’s easy access to the interstate highways makes commute to either Boston or New York City more convenient.
Manchester Connecticut offers a variety of restaurants, big discount stores like Walmart, BJ’s and Sam’s, several pharmacies, numerous retail stores, huge cinemas, shopping malls, several parks and recreation centers, hiking trails and hospital.
Find out what's happening in Manchesterfor free with the latest updates from Patch.
Anything that a person will need for its day-to-day existence is right here in Manchester.
What is going on in the Manchester CT’s real estate market?
Currently, there are 130 properties for sale between the price of $125-$250,000. This price range is ideal for first-time home buyers. The average listing price is $175,305 with average square feet of 1,487.
As of this writing, 30 properties are under contract with average listing price of $175,180 and average square feet of 1,600. This month, 10 homes are sold--11 units lower compared to December 2014 sales.
The average sale price is $165,980 with average square feet of 1,598 for the month of January. In December, the average sale price is $170,594 with average square feet of 1,579.
There are 193 total available homes for sale. The average listing price is $210,766 with average square feet of 1,770. There are 51 units with pending sale and a total of 24 properties are sold in January. December generated more sales--31 homes.
Summarily, December 2014 performed better in terms of average sale price and the number of units sold.
Based on the previous months’ sales, the current inventory 193 homes is expected to be depleted within 7 months. The buyers remain to have leverage in Manchester Connecticut real estate market.
Overall, Manchester Connecticut remains to be an excellent place to own your first home.
