Peggy Chirico ~ Hartford & Tolland County Real Estate Blog: February 2012

Manchester CT Market Report for January 2012

Manchester CT Market Report for January 2012

The new year is here, and we are all anxious to see how the real estate market will be.  In 2011 in Manchester CT, we saw a decrease in both total closed sales and median price. The big question now is: Will 2012 be a better year for real estate?

 

In Manchester CT, we are starting off with positive results for both number of closed sales, median price, average price, and list price/sales price ratio.

 

Here is the short view:

 

Summary January 2012 January 2011
Closed Sales 20 17
Median Price $172,500 $170,000
Average Price $186,441 $186,288
Median LP/SP Ratio 96.8% 94.8%
Average LP/SP Ratio 95.83% 91.09%
Median DOM 104 53
Average DOM 144 81

 

 

So overall, the results show that for January 2012 there was:

  • 15% increase in closed sales
  • 1.5% increase in median price
  • .01% increase in average price
  • 2.1% increase in median LP/SP ratio
  • 4.95% increase in average LP/SP ratio

 

There was also 49.1% increase in the median days on market and a 43.75% increase in the average days on market, so it is clearly taking longer to sell homes in Manchester CT.  With the active listings at 214 properties, 41 homes under contract, and 30 homes under deposit, the absorption rate is 14.25 months, supporting that it takes longer to sell homes in Manchester CT at this time.  With the spring market almost here and the large number of properties that will close in the near future, it will be interesting to see how the absorption rate changes over the next few months.

 

If you are looking for a home in Manchester CT, there are many great homes on the market. You can what is available below; you can also customize your search by changing the criteria.  If you would like your own individualized search, please contact me and I will be glad to set you up for automatic emails.

 

 

 

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Peggy Chirico

 

 

Peggy Chirico, REALTOR®
Serving the Greater Hartford Area
Prudential CT Realty
peggychirico@gmail.com

860-748-8900

If you are buying or selling a home in Hartford County or Tolland County, please call me, email me, or visit my website.  I would be happy to help you with your home search or provide a market analysis for your home.

Find your dream home now!

                                                                       

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2011 Year in Review ~ Bolton CT

Bolton CT was one of the few towns that defied the trend of slumping sales in 2011 compared to 2010.  In fact, Bolton CT showed stunning results in both closed sales and median price.  In 2011, there were 49 closed sales compared to 35 closed sales in 2010.  That's a 40% increase over the previous year.

 

The median price showed just as positive results; the median price in 2011 was $275,000 compared with a median price of $207,900 in 2010, which is a 24.4% increase.

 

Bolton did not show the huge surge in sales as a result of the homebuyers' tax credit that other towns showed. Sales fell off after the 6/30/10 deadline, whereas the last half of 2011 showed several peak months.  

 

Maybe word is getting out that Bolton is a beautiful small town and a great place to live. If you would like information about Bolton CT or if you would like to find out what is on the market, give me a call. I would be glad to help.

2011 Year in Review Bolton CT

 

 

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Peggy Chirico

 

 

Peggy Chirico, REALTOR®
Serving the Greater Hartford Area
Prudential CT Realty
peggychirico@gmail.com

860-748-8900

If you are buying or selling a home in Hartford County or Tolland County, please call me, email me, or visit my website.  I would be happy to help you with your home search or provide a market analysis for your home.

Find your dream home now!

                                                                       

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2011 Year in Review ~ East Hartford CT

East Hartford CT was a busy market for real estate sales in 2011, but not quite as active as in 2010. According to MLS data, there were 307 closed sales in 2011 compared to 343 in 2010. In addition, the median price dropped to $144,000 in 2011 from $155,000 in 2010.  That's a 7.1% decrease in median price and 10.5% drop in closed sales.

Here is a look at the closed sales by month:

Closed Sales in East Hartford CT in 2010 and 2011

As was typical for many markets, East Hartford showed a surge in activity in the months before the expiration of the homebuyers' tax credits on June 30, 2010.  This activity could not be matched in 2011, but from July through the end of the year, 2011 generally outpaced the same months of 2010, showing a more optimistic trend. There are plenty of bargains to be had in East Hartford, and buyers seemed to be taking advantage of that.

To see what is available in East Hartford CT today, search for East Hartford CT real estate here. You can change your criteria to find the perfect match for you.

 

 

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Peggy Chirico

 

 

Peggy Chirico, REALTOR®
Serving the Greater Hartford Area
Prudential CT Realty
peggychirico@gmail.com

860-748-8900

If you are buying or selling a home in Hartford County or Tolland County, please call me, email me, or visit my website.  I would be happy to help you with your home search or provide a market analysis for your home.

Find your dream home now!

                                                                       

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The Connecticut Flower and Garden Show

The Connecticut Flower and Garden Show

The Connecticut Flower and Garden Show

 

 

With temperatures reaching 55 degrees today, it will seem like spring is just around the corner. What better way to get a jump on spring and some inspiration for your garden than with the Connecticut Flower and Garden Show at the Connecticut Convention Center, 100 Columbus Boulevard, Hartford CT! The show begins Thursday, February 23, 2012 and runs through Sunday, February 26, 2012.

 

With over 250 booths, 80 hours of seminars, and spectacular gardens on display, you are sure to get some inspiration for your own garden.

 

The hours of the Connecticut Flower and Garden Show are:

  • Thursday, Friday, and Saturday: 10:00 a.m. to 8:00 p.m.
  • Sunday: 10:00 a.m. to 6:00 p.m.

 

Ticket prices are:

  • Adults: $16
  • Seniors: $14 (Thursday and Friday)
  • Children 6-14: $4
  • Children 5 and under: Free
 
Ticket prices include admission to the show as well as to all the seminars held throughout the day. Examples of seminars include:
 
  • Floral Arranging
  • Enhancing Your Habitat for Songbirds
  • Four Seasons of Design
  • Container Gardening
  • Cottage Garden Style
  • Honey Bees
  • Pond Ecology
  • And so much more...
Check out all the seminars and times so you can get to all the ones you want to attend at the Connecticut Flower and Garden Show.


You can also bring 1/2 cup of your soil and have it tested by the UConn Co-op!
 
 
Get a jump on spring!  
 
 
The Connecticut Flower and Garden Show
 
 
 


 
 
 
 
 
 

 

 

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Peggy Chirico

 

 

Peggy Chirico, REALTOR®
Serving the Greater Hartford Area
Prudential CT Realty
peggychirico@gmail.com

860-748-8900

If you are buying or selling a home in Hartford County or Tolland County, please call me, email me, or visit my website.  I would be happy to help you with your home search or provide a market analysis for your home.

Find your dream home now!

                                                                       

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Selling an Empty House?

Selling an Empty House?


Selling an Empty House?We all know that furnished homes (especially staged homes) sell faster than empty homes. But finding furniture can be an expensive and cumbersome project.

 

Well, in this morning's newspaper, there was an article about a young entrepreneur in New Haven CT who makes cardboard furniture! The company is Chairigami, which was the brainchild of Zach Rotholz, who has a mechanical engineering degree from Yale University. He has yet to get his business off the ground, but I think he could hit the jackpot in selling cardboard furniture to anyone involved in a real estate transaction.

 

The furniture is easy to assemble, it's very sturdy (you can actually sit on it or use it), and very reasonable priced. For stagers and REALTORS®, it folds flat so it's easy to store and it can be used over and over again. Granted, the furniture isn't exactly decorative, but it would give someone an idea about furniture placement, space, etc.  And who knows, with a cover, the furniture might actually look like the real deal.

 

It may not be everyone's taste, but it's a fascinating new idea.

 

Here is the website:  Chairigami

 

Selling an empty house?

 

 

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Peggy Chirico

 

 

Peggy Chirico, REALTOR®
Serving the Greater Hartford Area
Prudential CT Realty
peggychirico@gmail.com

860-748-8900

If you are buying or selling a home in Hartford County or Tolland County, please call me, email me, or visit my website.  I would be happy to help you with your home search or provide a market analysis for your home.

Find your dream home now!

                                                                       

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2011 Year in Review ~ South Windsor CT

South Windsor CT real estate sales during 2011 showed a fairly typical picture of the ups and downs of the market.  As was the case with many towns in Connecticut, South Windsor's closed sales and median price were down from the previous year.  In 2011, there were 195 closed sales compared to 202 closed sales in 2010; the median price was $254,900 in 2011 vs. $274,450 in 2010.  So closed sales were down 3.47% while median price was down 7.12%.

If we look at the average price ($294,398 in 2011 vs. $296,397 in 2010), the difference was .8%.  Why consider both median and average prices? The median price simply places all the values in order and selects the one in the middle, whereas the average takes the numerical average.  One high-priced home will bring up the average significantly, but it won't affect the median price.  So an average price provides an indication of the breadth of home values, whereas a median price tells you which home value was in the middle. It is important to look at both average and median prices, as well as which homes actually sold.

Here is a comparison of the number of closed sales by month for 2010 and 2011 in South Windsor CT:

Closed Sales in South Windsor CT in 2011 and 2010As in just about every other town, South Windsor showed a surge in closed sales in June 2010, which was the deadline for the homebuyers' tax credits.  But from July through September of 2011, closed sales beat out the prior year, and then once again dipped below 2010 levels.

While there are plenty of sour notes in the real estate market in general, South Windsor fared well overall, posting a minor decrease in closed sales over the prior year, a modest decrease in median price, and virtually no change in average price.

 

 

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Peggy Chirico

 

 

Peggy Chirico, REALTOR®
Serving the Greater Hartford Area
Prudential CT Realty
peggychirico@gmail.com

860-748-8900

If you are buying or selling a home in Hartford County or Tolland County, please call me, email me, or visit my website.  I would be happy to help you with your home search or provide a market analysis for your home.

Find your dream home now!

                                                                       

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2011 Year in Review ~ Manchester CT

2011 Year in Review ~ Manchester CT


2011 has closed and the real estate analysis has been done.  By most accounts 2011 was a worse year than 2010, but let's take a look at what actually happened in Manchester CT in 2011.

 

During 2011, there were 321 closed sales with a median price of $169,000.  Both number of closed sales and median price were down from the previous year, which posted 358 closed sales with a median price of $185,000.  So median price decreased by 8.65% and the number of closed sales decreased by 10.3%.

 

If we look at average sale price, which was $188,808 in 2011 vs. $201,788 in 2010, we see that the average price decreased by 6.43%.  

 

Here is a look at 2010 and 2011 closed sales by month:

 

 Closed Sales in Manchester CT

 

As you can see, there was quite a bit of variability among months. Remember that the home-buyer tax credits expired in June 2010 so we saw a surge of activity in the months preceding the deadline.  We also saw a surge in June 2011 because the real estate conveyance tax was set to increase on 7/1/11.

 

We don't have any incentives on the horizon, unless you count the very low mortgage rates we have been enjoying, so we will have to wait to see how 2012 turns out.  Going forward, I will be reporting both the average sale price and the median sale price.

 

 

 

 

 

 

 

 

 

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Peggy Chirico

 

 

Peggy Chirico, REALTOR®
Serving the Greater Hartford Area
Prudential CT Realty
peggychirico@gmail.com

860-748-8900

If you are buying or selling a home in Hartford County or Tolland County, please call me, email me, or visit my website.  I would be happy to help you with your home search or provide a market analysis for your home.

Find your dream home now!

                                                                       

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Baby Boomers Series ~ Cleaning Out the Attic

In the Baby Boomer Series, I am going to address topics that pertain to people of my generation--baby boomers who are planning for the next steps in their lives.

Baby Boomer Series ~ Cleaning Out the Attic

Cleaning out the atticContrary to conventional wisdom, at least in my opinion, the most important step is not deciding where or how one wants to spend his or her retirement years; the most important step is CLEANING OUT THE ATTIC!

Regardless of whether you plan to stay in your home, move across town, or relocate to the sunny south, you must clean out the attic. If you are like me, you have lived a considerable number of years in the same house and have amassed a lot of crap memories in the attic.

Why do I think cleaning out the attic is the most important step? Because it will allow you make a quicker decision if you have to. If you clean out the attic now, well in advance of any decisions you need to make, you will be able act upon your decision quicker. And if you choose to spend your retirement years in the same house, you won't be leaving the dreaded task of cleaning out your attic to your family.

This post was prompted by two events:

  • The first was a showing I recently had where the buyers wanted to close in six weeks. The seller, however, had so much stuff everywhere (and the attic was jam-packed) that it would have taken her a month of Sundays to clear it all out. Her stuff included tons of memorabilia, restaurant menus, knickknacks, books, clothes, and some stunning antiques and artwork. There was a lot that would simply have to be thrown out, and some of it shouldn't be thrown out. But in the heat of the moment, when someone is under pressure to clear out the house, mistakes will be made. Valuable things may be thrown out and worthless things will remain.
  • The second event was my own trip into my attic. I call my attic Limbo because that's where I throw everything that I don't know what to do with. It's also a one-way street. It goes up, but it never comes down. So after 35 years of living in the same house, I know there is a vast amount of crap memories up there.

Cleaning the attic is an onerous chore; no one really wants to get caught in the trip down memory lane that will take years to complete. Trust me, I know. I had boxes of cards, gifts, memorabilia, and stuffed animals for each of my children. It took me an entire afternoon because, of course, I had to read every card! And that was just one box.

So here are some of the suggestions that worked for me; maybe they will work for you.

  • Get some help. Enlist the aid of your children, spouse, or a professional service. They will keep you on track.
  • Tackle it one box at a time. Bring the box down from the attic and decide on the contents' final destination: garbage, recycling, donating, giving to a family member, selling it, or having it appraised.
  • Set up a minimum goal of how many boxes you will deal with each week and hold yourself to it.

Toss It

I am all for recycling and reusing wherever possible, but there is probably a good amount of junk that simply must be tossed, such as old Halloween costumes, decomposing papers sprinkled with glitter, melted plastic items, etc.

Give It Back

If you have been saving someone else's memories, put the stuff in a pile and give it to the person. Chances are they will have a much easier time of throwing it out than you would. When I presented each of my children with boxes of their kindergarten homework, they thought I was nuts. They looked through it for old time's sake and just as quickly tossed it.

Give It Away

You may have useful items in the attic that someone else would love to have. I had 16 place settings of Christmas dishes that I hadn't used in twenty years and knew I would never use them again, so I gave eight place settings to each of my daughters. My son decided he would rather have an old turntable that was up there.  If there are things that your family or friends can use, offer it to them. Wouldn't you rather see them enjoy it than have it rot in the attic? There are also plenty of charitable organizations that would be glad to accept donations. A rule of thumb: If you haven't seen it, used it, or thought about it in five years, you probably don't need it now.

Appraise It

For the valuable things in your attic, like silver candlesticks, old collectibles, or antiques, consider having them appraised to see if they really are worth anything. You may just have cash in the attic that will help pay for your next vacation!

Sell It

If you have valuable items that you want to sell, consider selling it to an appraiser, on eBay or Craigslist, or at a tag sale.  If you have things that are not really valuable but that someone might want to buy anyway, a tag sale may be the quickest way to get rid of a lot of stuff.

Save It

You don't have to get rid of everything! There may be some items that you want to hang on to, and that's fine.  Just make sure to keep them in the open so you can truly enjoy them and not just have them collecting dust in a storage area.

Cleaning out the attic will be the hardest task, but it is the most important task.  By paring down your stuff, separating trash from treasure, and keeping only what is essential, you will be ready when you want to make a decision about where and how you want to spend your retirement years.

Baby Boomer Series ~ Cleaning Out the Attic

 

 

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Peggy Chirico

 

 

Peggy Chirico, REALTOR®
Serving the Greater Hartford Area
Prudential CT Realty
peggychirico@gmail.com

860-748-8900

If you are buying or selling a home in Hartford County or Tolland County, please call me, email me, or visit my website.  I would be happy to help you with your home search or provide a market analysis for your home.

Find your dream home now!

                                                                       

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