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.
|
Price Range |
August 2010 |
August 2009 |
|
|
|
|
|
Under $100,000 |
1 |
0 |
|
$100,000-$149,999 |
9 |
2 |
|
$150,000-$199,999 |
6 |
21 |
|
$200,000-$249,999 |
4 |
13 |
|
$250,000-$299,999 |
2 |
2 |
|
$300,000-$349,999 |
2 |
1 |
|
$350,000-$399,999 |
2 |
0 |
|
$400,000 and over |
2 |
3 |
|
|
|
|
|
Total |
28 |
42 |
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!
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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!
Peggy, I agree I think this quarter will give us a better picture for 2010. It would be nice to end it on a positive note.
Hi George - I think September is going to be busy! It would be great to end on a positive note.