RUNDOWN OF WHAT'S HAPPENING IN MANCHESTER
WHAT IS COOKING? Another door opened after "Pinewood Furniture" at 1155 Main Street closed down after 64 years in the business. Pinewood's owner was Ed Firestone. The new establishment is called "The Firestone Cafe".
Sophia Dzialo, owner of "The Firestone Cafe" who also owns "The Claypen" in West Hartford, named her business as a tribute to the Firestone family.
"Dzialo plans to offer not only space for walk-in studio use and classes but also a café offering local drinks and food. She said the café will offer local coffee, Hosmer Mountain Soda, Shady Glen ice cream, and other regional treats." (Source: Journal Inquirer)
Find out what's happening in Manchesterfor free with the latest updates from Patch.
"The Firestone" is an infusion of DIY projects such as pottery painting, glass fusing, canvas painting and board art(painting on reclaimed wood), and a cafe on site. Some of the vendors based in CT which will be supplying their ingredients and beverages are Giv Coffee Roasters, Hosmer Mountain Soda, Shady Glen Ice Cream, and Cato Corner Cheese.
This is the kind of business we should be supporting. So if you want to harness your creativity and potential while enjoying good food, visit "The Firestone" at 1155 Main Street.
Find out what's happening in Manchesterfor free with the latest updates from Patch.
WHAT IS GOING TO MELT IN YOUR MOUTH? Center Scoop is coming to Downtown Manchester. If you like Center Perk, you will be easily won over by this ice cream shop. Center Perk and soon-to-be-opened Center Scoop are owned by sisters Christine Bedrossian and Kim Barnett. Slated to open in April where Electrolux was used to be, Center Scoop's ice cream will be homemade by Fish Farm in 20 Dimock Lane, Bolton, Connecticut. (Source: Journal Inquirer)
WHAT IS UPSCALE ON CENTER STREET?
If your gastronomy desires fine dining, then Cafe Aura is the place to be. Situated in the same building which housed the equally elegant Cavey's, "Cafe Aura offers specially curated wine list featuring hard-to-find selections to complement to the cuisine." This fine restaurant concentrates on dishes with Italian flair as its Chef Erminio Conte hailed from the pasta-loving Italy.
Come to Cafe Aura for "world-class wines, prime steaks and classic Italian dishes with a modern twist."
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WHAT HOMES ARE SELLING IN MANCHESTER CONNECTICUT?
Single Family Homes for Sale as of February 3, 2020
- Units for Sale: 77
- Average List Price is $232,331 with 3 bedrooms, 2 bathrooms and average square feet of 1,722
- Median List Price is $199,900 with 3 bedrooms, 2 bathrooms and median square feet of 1,536
- Most Expensive Home is $579,900 with 5 bedrooms, 5 bathrooms and 3,573 square feet of living space
- Least Expensive Home is $89,900 with 1 bedroom, 1bathroom and 730 square feet of living space
Single Family Homes Under Contract within the month of January 2020
- Units under Contract: 64
- Average List Price is $202,647 with 3 bedrooms, 2 bathrooms and average square feet of 1,629
- Median List Price is $189,000 with 3 bedrooms, 2 bathrooms and median square feet of 1,489
- Most Expensive Home is $419,900 with 5 bedrooms, 5 bathrooms and 3,397 square feet of living space
- Least Expensive Home is $82,000 with 2 bedrooms, 1 bathroom and 988 square feet of living space
Sold Single Family Homes in January 2020
- Units Sold: 26
- Average Sale Price is $205,852 with 3 bedrooms, 2 bathrooms and average square feet of 1,806
- Median Sale Price is $176,000 with 3 bedrooms, 2 bathrooms and median square feet of 1,424
- Most Expensive Sold Home is $385,000 with 6 bedrooms, 5 bathrooms and 5,660 square feet of living space
- Least Expensive Sold Home is $92,000 with 2 bedrooms, 1 bathroom and 1,104 square feet of living space.
Significance of the Current Inventory and Absorption Rate
Manchester CT Sold Homes from February 1, 2019 to January 31, 2020 converted into an absorption rate give us an approximate length or period of time when the current inventory of 77 units would be depleted. Five Hundred Seventy Six (576) single family homes were sold within a period of one year.
Given the absorption rate of 48 units sold in a month, the Town of Manchester, currently, has 1 to 2 months of inventory supply. This is an emaciated supply of properties. With this inventory, unless demand is curtailed, home prices might increase tremendously.
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