Cinnamon Springs Condo Market Report – Sept 2010 thru Sept 2011
Cinnamon Springs is a great condo community with a fantastic location in South Windsor CT. The complex has both townhouse and ranch style units situated around a beautiful pond with walking path, a nice cool pool, and clubhouse. The South Windsor market has fared well compared to surrounding towns but has still seen prices slip and Cinnamon Springs Condos are no exception. Currently in Cinnamon Springs we have one unit active for sale and one unit under deposit. Over the past year we have seen five units sell.
11 Cinnamon Springs is currently for sale and listed for $139,000. This is a 2br townhouse style unit with a carport. Features include new flooring, tile in kitchen and dining room, fully applianced, with a view of pond.
53 Cinnamon Springs is currently under deposit and was listed for $139,000 when it went under contract. This is also a 2br townhouse style unit with a carport in excellent condition with wood floors in a great location
All five units that have sold this past year are 2br units three being townhouses and two being 2nd floor ranches.
6 Cinnamon Springs was the highest sale in the complex in the past year and was listed for $159,000 and went under contract in 10 days. This is a townhouse with carport. 6 Cinnamon Springs was totally updated with remodeled kitchen with stainless steel appliances and bath. This unit closed for $150,000 in Oct 2010.
50 Cinnamon Springs was the lowest sale price this past year on a 2br. This unit is a second floor ranch style condo that was listed for $89,900. It needed a substantial amount of work and went under contract in 8 days. It closed for $91,900 2k over list price.
57 Cinnamon Springs is a 2br townhouse style condo with carport and was listed at the end of January for $145,000. This unit featured an updated bath and offered a great view of the pond. This condo was reduced to $136,000 and sold after being on the market for 96 days. This unit closed for $129,000 in June 2011.
97 Cinnamon Springs is another 2br townhouse with carport and originally listed for $143,900. This condo had numerous updates and was in move in condition. This condo was reduced to $139,900 and went under contract in 36 days. This unit closed for $139,000 in Dec 2010.
87 Cinnamon Springs is a 2br second floor ranch unit and was listed for $109,000. This condo also needed some work. After 66 days on the market it went under contract. It closed for $105,000 in July 2011.
As you can see by the Cinnamon Springs condo market report this past year has not seen a lot of activity with only five closed sales. But to compare that with the same period between 2006-2007 the 7 total sales of that perios is not a huge difference. Most of this past year Cinnamon Springs was not fha/chfa approved so this also did not help the potential buyer pool for the complex since a large percentage of buyers utilize these types of financing. I am happy to say that this issue has been resolved and this can really help the complex since many of the other complexes around town are still not fha/chfa approved. We saw some great numbers from NAR this past week showing that existing home sales are up 7.7% for the month of August. Stay Tuned for more market updates.
South Windsor CT Condos like Cinnamon Springs are a fantastic place to call home with excellent schools, great restaurants, shopping, and a convenient location only minutes from Hartford and Springfield. Subscribe to my blog for more info on South Windsor Condos. If you are interested in BUYING or SELLING a South Windsor condo call Jeremy Joslin at (860)748-9381 your South Windsor condo expert.