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:

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.

Town of Manchester: The Silk City. Why Silk City? Manchester has acquired the name Silk City because in this town, the Cheney family started what became the world's largest silk mill in 1838. As the town's tribute to the Cheney family, the mills, houses of the owners, and homes of the workers are now part of the Cheney Brothers Historic District, a National Historic Landmark.

Manchester–A City of Village Charm. In 1935, a man named Malcolm Mollan won $25 for his entry to the slogan contest sponsored by the Chambers of Commerce that best suited the town of Manchester to boost tourism. The town has a total area of 27.7 square miles (71.7 km²), of which, 27.3 square miles (70.6 km²) of it is land and 0.4 square miles (1.1 km²) of it (1.52%) is water, according to the United States Census Bureau.

Downtown Manchester is a classic, turn-of-the century center which boasts almost 195 unique retail shops, professional services and restaurants. If you love true-to-form homemade and fresh with intoxicating aroma bread, you must stop by "Great Harvest Bread". This store molds and sculpts each morning freshly ground premium whole wheat and blend it with ingredients from nature, like yeast, salt and honey. "Great Harvest never uses chemicals or additives." The bread is superbly handcrafted to satisfy your palate.

Still at the heart of Downtown Manchester sits Manchester Mall

This place will surely delight the treasure hunters and well-preserved art works and masterpieces which passed the test of time.

Across the Manchester Mall are small restaurants emblematic of the town's diversity.

On North Main Street is a hub which housed the superstore BJ's Club

and a place for the wine connoisseur as well as the spirit subscribers.

The Shoppes at Buckland Hills, is a major regional center in the northeast end of Manchester along I-84 contains over three million square feet of retail space, a movie theater, a dozen restaurants and over 400 hotel rooms.

The Village Charm exuded by Downtown Manchester, the sprawling retail stores and establishments in Buckland Hills and its accessibility to the major thoroughfare, keep the Town of Manchester an ideal place for people of all ages

as shown by the rise in home sales in 2011.

Source: http://www.mhs1955.com/City_of_Village_Charm.htm; City Data

Manchester CT Market Report for December 2011

During December 2011, there were 22 closed sales with a median price of $155,450 in Manchester CT. Although the median price was up somewhat from the previous two months ($152,500 in November and $147,750 in October), the number of closed sales was the lowest since February 2011.

In comparing the numbers with last December, we can see that the number of closed sales was down (29 last December), but the median price was virtually unchanged ($155,450 in December 2011 vs. $156,000 in December 2010).

Here is the breakdown by price range:

In looking at the recap of the year, there were a total of 320 closed sales and a median price of $169,500. Here are the numbers by month:

As of today, there are also 19 homes under contract and 30 homes under deposit, so January should show fairly good numbers as we gear up for the spring season.

If you are looking for a home in Manchester CT, there are 214 properties on the market with a median price of $179,900. Active listings range from a 3-bedroom/1-bath ranch with 1135 sq. ft. for $75,000 to a new construction contemporary home with 4 bedrooms, 3.1 baths, and 4000 sq. ft. for $759,000. Manchester Ct has many great neighborhoods and there are some beautiful homes on the market right now. With an absorption rate of almost 12 months, buyers will have plenty of opportunity to find a great home at a great price. If you would like information about schools, neighborhoods, amenities, or homes on the market, just give me a call. I would be glad to help you get the information.

Wine Tasting at Adams Mill Restaurant, Manchester CT

Manchester Wine and Liquors' January wine tasting will be held on Monday, January 23, 2012 at 6:30 p.m. at Adams Mill Restaurant in Manchester CT.

Each month, a wine region is showcased and this month's wine region is Spain. The wine tasting includes a presentation about the region, the wines, and the winemakers.

The wines to be tasted are:

Gran Gesta Brut Reserva ........................................... $11.99

Legado Munoz Tempranillo ..........................................$10.99

Vina Alarba Old Vine Grenache .................................. $ 9.99

Cueto Seleccion ........................................................$16.99

Orballo Albarino ....................................................... $17.99

Merum Monastrell .................................................... $ 9.99

Lealtanza Dominio de Heredia ................................... $11.99

Felix Callejo Cuatro Meses ........................................ $19.99

Finca Munoz Old Vines Tempranillo ..............................$34.99

The wine tastings are fun, informative, and open to anyone in the Wine Club. If you are not a member, you can become a member by calling Manchester Wine and Liquors at 860-649-4750. Each member can bring one guest.

Seating is limited, so you must register by phone (860-649-4750) or by email at mwl@snet.net. Only those registered will be allowed in. The wine tasting costs $6 per person, but if you buy at least six bottles from the tasting, you will be refunded the $6. In addition, the wines are usually discounted by the case (and you can mix cases). Information will be on the tasting sheets.

In addition, Manchester Wine and Liquors has a raffle at the end of the wine tasting which adds to the fun. So if you are looking to learn about new wines, try a few (along with some cheese and bread), and spice up the wintry month of January, call to register.

All profits of the evening are donated to a charity and this month's charity is Bandit's Place Animal Shelter of New Hartford CT (501c-3). A fun evening, a good cause--what more could you want?

Four New Year's Resolutions You Must Keep...from the Manchester Fire Department!

What are your New Year's resolutions?

• To lose weight?
• To get organized?
• To pay off credit cards?
• To appreciate others?
• To get a new job?

While we are all making lofty (or not so lofty) New Year's resolutions, the Manchester Fire Department is asking people to make just four resolutions that will ensure the safety of everyone. These are simple, but if everyone did them, the results could really make a difference.

1. Have a working smoke detector in all sleeping areas in the home.

2. Have a working carbon monoxide detecter in the home.

3. Have an emergency plan, designate a meeting place, and put together an emergency kit.

4. Don't drive while distracted, especially by cell phones and texting.

These are all really easy and may just help you be around long enough to keep your other New Year's resolutions!

If you need help with smoke detectors, carbon monoxide detectors, or an emergency plan, the Manchester Fire Department will help you. They encourage you to call them at 860-647-3267. They will be more than happy to assist you.