Glastonbury Market Report for Dec. 2007 and a Comparison with 2006

Glastonbury Market Report for December 2007 and Year End Comparison to 2006

Residential Market for December

For the month of December 2007, there were 148 listings on the market, which is a decrease from 178, which has been more the norm. There were 24 new lstings that came on the market in Dec., 19 went under deposit and there were 16 closed sales. Below you can see the comparison to what happened in December 2006:

Closed Dec.2007: 16 Closed Dec.2006: 36
Avg. Sale Price: $394,813 Avg. Sale Price: $443,879
$/Sq.Ft.: 181 $/Sq.Ft.: $183
DOM: 61 DOM: 58

Closed sales were down 56% this December compared to last and average sale prices
were down 11.1%. Some of the change may be because of the weather that we had this December.

Residential Market for 1/1/2007 - 12/31/2007 compared to 1/1/2006 - 12/31/2006

Closed 1/1/2007-12/31/2007: 368 Closed 1/1/2006 - 12/31/2006: 387
Avg.Sale Price: $449,247 Avg. Sale Price: $435,300
$/Sq.Ft: $181 $/Sq.Ft: $185
DOM: 55 DOM: 49

Number of sales were down 4.1%, but prices were up 3.2%. Glastonbury seems to be holding fairly steady and is bucking the trend that you see in some other markets.

Condominium Market for December

For the month of December there were 41 active listings, 6 were new to the market, 3 went under deposit and there were 4 closed sales. Below is the comparison between December 2007 and December 2006:

Closed Dec.2007: 4 Closed Dec. 2006: 14
Avg.Sale Price: $217,125 Avg. Sale Price: $215,108
$/Sq.Ft.: $163 $/Sq.Ft.: $160
DOM: 40 DOM: 50

Although closed sales were down 71.4%, prices were up 1%, which is not too significant.

Condominium Market for 1/1/2007-12/31/2007 compared to 1/1/2006 - 12/31/2006

Closed 1/1/2007 - 12/31/2007: 152 Closed 1/1/2006 - 12/31/2006: 192
Avg. Sale Price: $207,587 Avg.Sale Price: $204,001
$/Sq.Ft.: $164 $/Sq.Ft: $163
DOM: 47 DOM: 47

Number of condominium sales were down significantly, by 20.8% and prices were up by
2%. The condo market does not seem to be faring as well as the residential market, but again prices have not gone down.