Pristine Contemporary Up For Grabs!

Pristine Contemporary in Sought-After Neighborhood. New Major Ticket Items Have Been Installed for the New Lucky Owners: High-End Andersen Windows, Roof with Architectural Shingles, Stainless Appliances, Insulated Garage Overhead Door, Azek Front Porch and Deck w/ Accent Lighting, Screened Gazebo, Basement Bulkhead Door, Gutters, Lawn Irrigation System, Utility Shed, and Hot Water Heater.

Inside this Immaculate Home are Sky-high Ceilings with Mechanized Blinds for the Skylights in the Recreational Room/Main Living Room, 3-Season Porch with Picture Window which can be converted into 168 Sq.-Ft. of Extra Living Space, Bedrooms of Generous Proportions, Open-Concept Layout.

Be Awed by the Mint Condition of the Exterior Starting with the Manicured Grounds, then walk your way into the Front Door via the Graceful Front Porch. As you tour towards the back, you will find an equally Mint and Delightful Outdoor Entertainment Area Beautifully Laid Out by Large Patio completed by Screened Gazebo. Lightly wooded land at the back furnished a screen of privacy. If You Are Looking for that Great Home in a Much Sought-After Location, You Better Hurry as this One Won't Last Long!

What is Going on in Manchester CT Real Estate?

Single Family Homes for Sale as of July 6, 2021

• Units for Sale: 45. Last Month: 29. ⬆ 16 units
• Average List Price is $352,782 with 3 bedrooms, 2 bathrooms and average square feet of 2,095. ⬆ this month by $1.30/ sq. ft. 168.40
• Median List Price is $235,000 with 3 bedrooms, 2 bathrooms and median square feet of 1,644. ⬇ by 1 sq. ft.
• Most Expensive Home is $2,450,000, with 9 bedrooms, 5 full and 3 half bathrooms, and 13,697 square feet of living space. The Days on the Market is 29 Days.
• Least Expensive Home is $89,900 with 3 bedrooms, 1 full and 1 half bathroom, and 1,152 square feet of living space. Days on the Market is 1,183 Days.

Single Family Homes Under Contract for the month of June, 2021

• Units under Contract: 69. Last Month: 45. ⬆ 24 units
• Average List Price is $248,738 with 3 bedrooms, 2 bathrooms and average square feet of 1,531. ⬆ by $8.30/ sq. ft.
• Median List Price is $229,900 with 3 bedrooms, 2 bathrooms and median square feet of 1,372. ⬆ by $3.90/ sq. ft.
• Most Expensive Home is $459,900 with 4 bedrooms, 3 full and 1 half bathrooms, and 3,228 square feet of above-ground living space. The Days on the Market is 48 Days.
• Least Expensive Home is $129,900 with 3 bedrooms, 1 full and 1 half bathrooms, and 1,416 square feet of living space. Days on the Market is 9 days.

Sold Single Family Homes in June 2021

• Units Sold: 66. Last Month: 46 . ⬆ by 20 units
• Average Sale Price is $248,355 with 3 bedrooms, 2 bathrooms, and average square feet of 1,512. ⬆ by $1.80 sq. ft.
• Median Sale Price is $230,000 with 3 bedrooms, 2 bathrooms and median square feet of 1,297. ⬆ by $7.40/ sq. ft.
• Most Expensive Sold Home is $475,000 with 4 bedrooms; 2 full and 1 half bathrooms, and 2,614 square feet of above-ground living space. It sold for $14,900 less than the asking price. SP/LP is 97%. Days on the Market is 8 days.
• Least Expensive Sold Home is $151,000 with 2 bedrooms, 1 bathroom, and 850 square feet of living space. It is sold for $11,100 more than the Asking Price. SP/LP is 107%. Days on the market is 2 days.

Significance of the Current Inventory and Absorption Rate
Manchester CT Sold Homes from July 1, 2020 to July 1, 2021 converted into an absorption rate give us an approximate length or period of time when the current inventory of 45 units would be depleted. Six Hundred Twenty Two (622) single family homes were sold within a period of one year.
Given the absorption rate of 51.83 units sold in a month, the Town of Manchester, currently, has 1 month of worth of inventory. This is an emaciated supply of properties. With this inventory, unless demand is curtailed, home prices may increase continuously and leverage will remain with the sellers.
Absorption Rate: “The rate at which available homes are sold in a specific real estate market during a given time period.” Click on the link for a better explanation of Absorption Rate.
Understanding Mean(numerical Average) and Median:
“The median takes into consideration the middle value of the set of data. However the mean/average takes into consideration all of the values. Therefore high or low values will effect the mean/average. If the mean/average is a lot higher than the median, there is an unusually high value that pulls the average price up. If the mean is a lot lower than the median, there is an unusually low value that pulls the average price down.
In most cases, the reason the median price is used rather than the mean is mainly because it is a more accurate indicator of the market.
Planning to buy or sell properties in Manchester Connecticut ? Make sure to have the best representation. Contact Maria Gilda Racelis of Home Buyers Realty at 860.995.9473. Visit her website www.hbrsales.com