Manchester Condos
Manchester is a picturesque town located in Essex County. It is home to about 5,200 residents and is famous for its scenic sandy beaches. The town was incorporated in 1645, and it is a predominantly residential town. Between its natural beauty and easy access to Boston, it is viewed as a highly desirable place to live. Manchester is serviced by Route 128, and Route 127 passes through the town's center. Bus service is provided by the MBTA, and the MBTA commuter rail travels to Boston's North Station. The residential market is healthy for both single-family homes and condominiums. In 2018, the average price for a home is $796,000, which is a 6.6% increase from 2017. Unit prices are expected to rise by about 3% through 2019. The median listing price, in square feet, is about $414, which is higher than the average price by SF in Boston. The average price for a property in 2018 is approximately $519,300, which is also higher than average townhouse sales prices in the Greater Boston area. Financially, the housing market in this town is very healthy in comparison to regional and national markets. The market's financial health is 7.7 out of 10. Only 4% of homes here have negative equity, which is much lower than the national rate of 10.4%. Fewer than one percent of homeowners in this town are delinquent on their mortgage payments , which is below the rate of 1.6% found elsewhere in the country.
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In this town, townhouses range in average size from one to three bedrooms. Most come with anywhere from one to three bathrooms, which includes full and half baths. Regardless of size, units spend approximately 87 days on the market. Historically, both new sale listings and sales have been the highest in the summer months, namely June through August. New listings and sales also pick up again in the last three months of the year, but not to the height of summer activity. Most places fall into a price range between $400,000 and $600,000. Properties in this price range have traditionally had the most success in sales rates over a three-month to one-year time period. Properties priced between $200,000 and $400,000 have also traditionally been popular. Properties in this price range comprise the largest group behind those listed for sale at a price between $400,000 and $600,000. They have the second-highest sales rate over a one-year time span. Homes with a sales price between $600,000 and $800,000 are less common, and the smallest group of places are those listed for sale at a price of $800,000 to $1 million. The list price generally exceeds the sale price, but there have been deviations in the past among those at all price levels. Sale prices also affect the length of time that it takes a place to sell. Places with a sale price between $600,000 and $800,000 spend the shortest amount of time on the market, which is an average of 71 days. Properties priced for sale between $400,000 and $600,000 have an average time on the market of 72 days. The gap widens for properties with a highest and lowest sale prices. Places for sale between $800,000 and $1 million spend an average of 105 days on the market. Units priced between $200,000 and $400,000, which is the lowest price group, are on the market for approximately 115 days.
With the conditions favorable for buying and selling a place in 2018, now is the time to contact our office for assistance. Buying a home requires preparation, financial planning, and thinking of your lifestyle preferences and ideal location in town. Fortunately, our staff can help you find and plan financially for the home of your dreams. When searching for the right property, it's always helpful to work with a qualified agent who knows the area and is also familiar with home pricing trends. A skilled agent can tell you what amenities are nearby, such as schools, parks, and public transportation. You can also ask about any special requirements that you might have, including easy access to highways or proximity to the beach. While you're identifying preferred living criteria, a realtor can also work with you to set a realistic budget and apply for a loan if it applies. Once you've determined where you want to live and what budget you are comfortable working with, you can narrow down your list and attend open houses in the area. After selecting a home, a realtor will act as a liaison between you and the homeowner to negotiate pricing and a closing date.
Similarly, there is a quite a bit to consider if you're on the selling side. If you are selling a home, contact our office to learn more about what you need to do and what you should be aware of as you move towards selling your property. We can help you set a reasonable listing price, which in turn will give you a favorable sale price based on your home's condition and the current market trends. You may need to do some preparation to make your home safe, presentable, and inspection-ready, and ensure you can get the highest possible revenue. This may include anything from minor updates and improvements to fixing more significant issues like an older roof, and outdated interior, and plumbing concerns. After getting your house in good shape, our staff can advise you on marketing and advertising your home, working with a buyer, and finalizing the sale. We can even help you set a good schedule for open homes and showings that are convenient for you, the buyer, and the agent. Our team will also help you navigate the legal and financial components of selling a home, including creating a contract and closing the sale.
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