Manchester, NH Single Family Home Sales Improve Slightly in April.
May 11th, 2009by Susan Crush
The number of homes sold in Manchester in April improved a little over March figures with 50 sales in April compared to only 38 in March. A year ago there were 61 homes sold in April and in April of 2001, there were only 48 sales. 2004 appears to have been the peak of the market with 79 homes sold.
The average sale price for April, 2009 was $194,766 with a median sale price of $187,000. Sellers were getting a little over 95% of their asking price and average time on market was less than three months.
It is interesting to note that half of the homes were purchased in April using FHA financing, 19 used conventional financing, 12 sales were cash, followed by VA with 7 sales and New Hampshire Housing – one sale. FHA is currently a very favorable type of financing for many buyers since only a 3% down payment is required in most cases.
Improvement in the Manchester Market Coming In May.
There are currently 107 single family homes under contract waiting to close so looks like there will be some significant improvement if many of these sales close in May. Stay tuned!
Manchester Offers A Wide Variety of Home Choices.
There are many single family homes for sale in Manchester. 273 to be exact! With an inventory this large, there is truly something for everyone. There are mansions in Manchester’s prestigious North End, there are homes priced under $100,000 that need some work, and everything in between. The average list price for Manchester homes is $260,343 with a median price of $232,900. Average time on market is 134 days with median time on market at 66 days. New construction accounts for about 16% of the Manchester single family home market. Ninety-nine homes came on the market in Manchester in April. Tis the season to SELL!
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
