There's not much inventory on the market like your property. Because of this, I would suggest you list your property "As Is" and let the offers come in, then you can decide which one to pick from. This situation could work in your favor, as we can list your property in the price range from $100,000 - $125,000, attract multiple showings, and hopefully create a competitive bidding environment. The best way to find our sweet spot is to present it to serious buyers to gauge their offers. Once we launch on the market, we can assess our approach after one week to see if our pricing is on point, ensuring we maximize your returns.
To accelerate the sale, we must engage genuinely interested buyers. This can be accomplished by listing on the MLS, promoting through top local brokers' sites, and directly contacting their clients via email.
I recommend starting with this price. If we don't receive any viewings or favorable offers in the next few weeks, we can reevaluate our pricing strategy.
Provided below is the expected price range for selling your property.
Naturally, this is merely a ballpark figure and may fluctuate higher or lower, depending on any refurbishing or enhancements you've made to make the property market-ready.
Below is a summary of the ARV comps that I was able to find
Based on recent sales data and current market trends, here are the comparable properties (comps) for 24 Prospect St APT 39, Manchester, CT 06040:
### Recent Sales of Comparable Properties:
1. **24 Prospect St #32**
- **Sold for**: $95,000 on November 22, 2023
- **Details**: 1 bed, 1 bath, 610 sq ft
2. **24 Prospect St APT 39**
- **Sold for**: $101,000 on June 24, 2024
- **Details**: 1 bed, 1 bath, 610 sq ft
3. **24 Prospect St #34**
- **Sold for**: $101,000 on November 22, 2024
- **Details**: 1 bed, 1 bath, 600 sq ft
4. **24 Prospect St #31**
- **Sold for**: $87,900 on May 22, 2024
- **Details**: 1 bed, 1 bath, 610 sq ft
5. **24 Prospect St #35**
- **Sold for**: $94,000 on November 22, 2024
- **Details**: 1 bed, 1 bath, 600 sq ft
6. **24 Prospect St #36**
- **Sold for**: $93,000 on July 2024
- **Details**: 1 bed, 1 bath, 610 sq ft
7. **24 Prospect St #37**
- **Sold for**: $111,000 on August 2024
- **Details**: 1 bed, 1 bath, 610 sq ft
### Current Listing:
- **24 Prospect St APT 39**: Currently listed for $125,000
- **Key Details**: 1 bed, 1 bath, 610 sq ft, built in 1970, HOA fee: $298/month, listed 2 days ago
### Market Trends for Manchester, CT 06040 (2025):
- **Median Sale Price**: $320,000 in January 2025 (up 11.1% from the previous year)
- **Market Competitiveness**: Very competitive, with many homes receiving multiple offers and selling for about 4% above list price
- **Average Days on Market**: 33-35 days
- **Price per Square Foot**: $214 (up 22.6% since last year)
- **Future Outlook**: Home values expected to continue rising, with some predictions suggesting an increase of 17.7% by March 31, 2025
Best,
Ari Lee