Peggy Chirico ~ Hartford & Tolland County Real Estate Blog

The Year in Review - Vernon CT Median Home Prices

Like other towns in the area, Vernon experienced two spikes in the number of home sales during 2010--one in June when the homebuyer tax credit expired and one at the end of the year.  Let's look at the number of closed sales by month for the year 2010:

Now let's take a look at the median prices for each month during 2010 in Vernon CT.

For the year, the total number of closed sales was 170 in 2010 compared to 222 in 2009.  The median price for the entire year was $191,000 in 2010, compared to $194,450 in 2009.  So while there was a significant decrease in the number of sales, the median price fell only slightly.

Another interesting observation is that median days on market was 39.5 in 2010, compared to 47 in 2009.

The Year in Review - Median Home Prices in East Hartford CT

2010 was an interesting year in real estate, and statistics don't tell the entire story.  As you can see from the charts below, the number of sales by month and the monthly median home prices fluctuated widely.  Let's look first at the number of sales:

As was the case in the reports on other towns, East Hartford had a large bump in the number of closed sales as a result of the homebuyer tax credit which ran out on 6/30/10. 

If we look at the median home prices by month, we will note a downward-looking trend as the year goes on.

However, another factor contributed to the median home prices--the number of bank-owned properties and distressed sales that occurred in East Hartford.  That market had more than its share of distressed sales, resulting in lower median prices.

If we look at the year as a whole, however, we will see that the median price in 2010 was $155,000 (for 341 closed sales) compared to a median price in 2009 of $158,000 (for 409 closed sales).  So while the number of sales went down, the median price remained relatively unchanged.  Another interesting fact is that the median days on market (DOM) in 2010 was 40 compared to 45 days on market in 2009.

The Year in Review - Median Home Prices in South Windsor CT

This year has been quite a challenge with closed sales and median prices seeming to take a roller coaster ride.  The homebuyer tax credit which expired in June provided a hump in the middle of the year, but the year ended on a strong note with 26 closed sales in December.  Let's look first at closed sales by month:

Now let's take a look at median price by month:

If we look at the median for the entire year, it is $274,450 (202 closed sales) compared with $276,000 (212 closed sales) in 2009.  Overall, the market in South Windsor seems relatively unchanged from the prior year.

During December 2010, there were 26 closed sales in Manchester, CT with a median price of $154,000.   During December 2009, there were 36 closed sales with a median price of $176,450.   Here is the breakdown by price range:

December's closed sales showed an increase over both November (16) and October (19), but the median price was lower in December. 

If you are looking for a home in Manchester CT, there are currently 205 homes on the market, ranging in price from $89,900 for a 1428 sq.ft. colonial to $759,000 for a 4000 sq. ft. contemporary.  The median price for homes currently on the market in Manchester is $189,900.

To see what is on the market, you can use the search feature below.  Please change the criteria to fit your needs.  If you would like assistance narrowing your search or if you would like me to set you up on an automatic search that will send you an email when new properties come on the market, please contact me.

The Year in Review - Median Home Prices in Manchester CT

2010 was a tough year for analyzing statistics about median home prices in Manchester, CT.  Other towns were difficult as well.  But with year-end, we can finally see if we can determine any trends for the housing market in Manchester.

One of the issues was the first-time homebuyer tax credit, which was an incentive for people to get into the housing market.  The credit expired on 6/30/10 and we did see a frenzy of activity during May and June as the deadline loomed.  First let's look at the number of single-family homes that closed by month:

Now let's take a look at median price:

If we look at the entire year, the median price for 2010 is $185,000 (355 closed sales), compared with a median price in 2009 of $188,375 (with 460 closed sales).  So overall, the number of sales is down significantly, the median price remains relatively stable.

For further discussion of  statistics in real estate, see Understanding Market Statistics.

Vernon CT Market Report for November 2010

During November 2010, there were 22 closed sales in Vernon CT with a median price of $226,000. During November 2009, there were also 22 closed sales with a median price of $200,000.

Considering that last November had the impetus of the first-time homebuyers' tax credit (which only later had been extended into 2010), this year's November sales seem quite robust.  So number of sales stayed the same, and median price increased this year as well.  Comparing November statistics to October 2010 and September 2010, the housing market in Vernon shows significant improvement.

Here is the breakdown by price range:

If you are looking for a home in Vernon, there are currently 106 homes on the market ranging in price from $8,000 for a mobile home to a raised ranch directly on Bolton Lake for $549,000. The median price is $219,900, so there are many great values to be had in Vernon, CT.

You can use the search function below to change your criteria and see what is currently on the market that might fit your needs. 

VERNON CT MARKET REPORT: September 2010

During September 2010, there were 12 closed sales in Vernon, CT with a median price of $173,000.  In September 2009, there were 20 closed sales, with a median price of $186,500.  Here is the breakdown by price range for those two months:

If you are looking for a new home in Vernon, Ct, there are currently 124 houses on the market.  Here is the breakdown by price range:

If you would like to see some of the properties for sale in Vernon, CT, you can view them below.  You can also change your search criteria to narrow your search or check out other towns.  Please contact me if you have questions about any of the properties. I am looking forward to hearing from you.

EAST HARTFORD CT MARKET REPORT:  September 2010

Like most surrounding towns, East Hartford closed fewer sales in September 2010 than in September 2009.  In September 2010, there were 25 closed sales with a median price of $140,000.  In September 2009, there were 39 closed sales with a median price of $153,000.  Here is the breakdown by price:

If you are looking for a home in East Hartford, you have plenty of opportunity to find a home in all price ranges, with most of them under $200,000.  As of 10/25/2010, there were 239 homes on the market in East Hartford.  Here is the number of homes currently available by price range:

If you would like to see some of the options in East Hartford or any other town, please change the search criteria below.  If you see something you are interested in or if you can't find what you are looking for, contact me.  I will be more than happy to help you find your new home.

CONDO REPORT:  MANCHESTER CT - SEPTEMBER 2010 

Manchester CT is home to many condo complexes of all price ranges and levels of amenities.  Opportunities abound for home ownership in affordable complexes to more upscale complexes, from open-age communities to age-restricted communities.

During the month of September 2010, there were seven closed units, ranging from $75,000 to $185,000, with a median closed price of $155,000.  During the month of September 2009, there were 14 closed units with a median price of $139,500.

How did September compare with the three previous months? The median price in June 2010 was $154,500; in July 2010, the median price was $98,500; and in August 2010, the median price was $135,000.  Here is the breakdown by price range for each of those months:

As a remminder, June's numbers were influenced by the first-time homebuyer tax credit, so we would expect to see higher numbers as people tried to meet the 6/30 deadline for closing.

 If you are looking for a condo in Manchester, there are currently 57 units available in the following price ranges:

Some great condo complexes currently have units available including Forest Ridge, Bigelow Brook, Manor Woods, Forest Pond, Lewin's Crossing, Northwood, and many more.  If you want information about what is available, please enter your search criteria below or call me.

Market Report for August 2010 in Manchester, CT.    

In August, we saw fewer houses being sold compared to the same month last year.  In addition, the median price was significantly lower this year than last.  In August 2010, there were 28 closed sales and the median price was $167,165; in August 2009, there were 42 closed sales and the median price was $196,250.

So while the actual numbers seem to portray a dreary picture, it is always important to keep in mind that one month's worth of data isn't sufficient to draw conclusions, although the media would like to.  Many people have reported that the tax credit impelled the market forward and actually created a lull in the months after the tax credit expired.  It appears that this could be a reasonable hypothesis.  If we look at the three months (June, July, and August) together, we might get a more realistic picture.

In 2010, the total closed sales for those three months was 120 compared with 132 for the same period in 2009.  The median price for the three-month period in 2010 was $198,500 compared with $196,000 for the three-month period in 2009.

What will be interesting will be September's statistics, as there have already been 11 closed sales in Manchester, CT and it is only 9/6.  Have a great Labor Day!