Manchester, NH Condominium Sales Figures for April, 2009 Are Looking Stronger
May 11th, 2009by Susan Crush
Only 14 Manchester condominium sales closed in April, a very small increase over March when there were 13 closed sales. At the end of March, there were 34 condos in contract waiting to close but less than half of them actually did close escrow.
But, it’s not all doom and gloom in the Manchester condo market!
The number of sales did not increase much but the average sale price for April, 2009 was $136,717, an increase over last month ($115,854) with a median sale price of $142,500 (March showed a median price of $115,900). Average time on market was 114 days, an improvement over the March figure of 152 average days on market.
And there is more good news. Sellers got over 98% of their asking price in April, also an increase over March figures. Six of the fourteen sales in April were cash sales with no financing involved. There were four sales using conventional financing, three FHA sales and one sale using VA financing.
As of this posting, there are 40 Manchester condominiums in contract. There were 34 in contract at the end of March so it appears that a few more potential sales are waiting in the wings.
Condominiums Are Plentiful In Manchester, NH!
There are 205 condominiums of all sizes and descriptions available for sale in Manchester. They range in price from $49,900 up to $599,900 and include garden style, townhouses, condexes, detached and converted mill buildings. The average list price is $181,856 with a median price of $169,900. Average market time is 160 days with median market time being under three months. Approximately 71% of the available Manchester condos are priced under $200,000. New construction condominiums in Manchester account for only 19% of the market with 39 units under construction or proposed.
With selection and supply plentiful, there may never be a better time to buy a condominium in Manchester.
Based on information from the Northern New England Real Estate Network, Inc. for the period April 1, 2009 to April 30, 2009.
Contributed by Susan Crush, Associate Broker, Bean Group
