Style, Price And Downtown Amenities – Mill Buildings Offer Chic, Convenient, Affordable Urban Living In Manchester
April 16th, 2009by Will Cornwell
Trendy, hip, cool, historic, close to downtown – Manchester’s Mills should be at the top of the list for buyers looking for historic mill or loft style living in New England. Over a number of years many of Manchester’s old brick mill buildings have been converted into fantastic loft and garden style condos. The combination of exposed interior brick walls, steel air vents, wooden beams, and large mill windows combined with today’s most desired wants and needs of granite countertops, hardwood floors, and stylish kitchens make the homes found at 471 & 470 Silver Street, 335 Cypress Street and a few homes on West Merrimack street stylish, fashionable & popular!
Overview Of Manchester Mill Condominiums And Lofts Sales Activity
470 Silver Street
- Currently there are 5 homes on the market right now in the Twin Towers Association.
- Asking prices range from $104,900 to $124,900.
- Last year 4 homes sold ranging from a sales price of $71,500 to $154,000.
- In the first quarter this year, 1 home has sold for $67,000.
471 Silver Street
- Currently there are 2 homes on the market right now in the Brick Mill Association.
- Asking prices range from $109,900 to $138,500.
- Last year 3 homes sold ranging from a sales price of $122,000 to $140,000 and the average days on the market was 223.
335 Cypress Street
- Currently there are 2 homes on the market right now in the Cypress Street Association.
- Asking prices range from $129,900 to $180,000.
- Last year 5 homes sold ranging from a sales price of $109,000 to $160,000 and the average days on the market was 114.
- In the first quarter this year, 1 home has sold for $73,000.
137-139 West Merrimack Street
- Currently there is only 1 home on the market right now in the Brookchester Row.
- Asking price of the 1 home available is $189,000.
- Last year 1 home sold for $140,000.
102 West Merrimack Street
- Currently there is only 1 home on the market right now in the Millview Condominium
- Asking price of the 1 home available is $229,900
Like many sectors of the Manchester housing market, 2008 may have been a bit slow on the sales for these condos. As asking prices now are coming down the demand for these homes should increase. Like all real estate what goes up must come down, but as the cycle moves forward, the market should trend up again. It is just a matter of when and by how much. Unfortunately, no one has a crystal ball to predict the future though it may be a good time to take a look at what is available on the market now and watch out for new mill conversion homes that may come on to the market and how they compare.
The city of Manchester has only so much space left to build and just a few remaining mill buildings that may be restored. While another revitalization project may come up on the horizon these historic homes may be your best bet for now and for the future. These fine built buildings have stood for more than 100+ years and I am sure that they will continue to be an important part of the Manchester way of living for another 100.
It is worthwhile to note that at this time, only Brookchester Row is on the FHA approval list. First time homebuyers seeking help via New Hampshire Housing, FHA or other low down payment loans should consult with their mortgage lender and Realtor for more information.
Based on information from the Northern New England Real Estate Network, Inc. for the period January 2008 to April 15th, 2009.
Contributed by William Cornwell, Realtor, Bean Group
