Glastonbury, CT Market Report: 2011 in Review

02-28-12

Minna Reid, CT REALTOR®, Short Sale Agent

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Mobile: (860) 416-1255

Glastonbury, CT Market Report: 2011 in Review

2011 was an interesting year for home sellers in Glastonbury, CT . 374 homes in Glastonbury, CT sold in 2011 – down 10% from 2010. Meanwhile the average 2011 sales price of $354,186 is a 5% increase since 2010.

Should the trend continue, just 11% of current market inventory of 281 homes in Glastonbury is expected to sell in any given month. Another telling figure is the amount of homes that expired in 2011. An expired home is a home that goes on market, but ultimately just does not sell at. In 2011, 242 homes in Glastonbury expired unsold – leaving the odds of successfully selling at 60%. The average listed price of homes currently on market is $450,700 – which is a whopping 21% higher than what homes are actually selling for. It would seem many Glastonbury home sellers have not yet faced the reality of the market.

What does that mean to you as a Glastonbury, CT home seller? If you are considering going on market, you will have to be very realistic about the value of your home if you wish to successfully sell. You have a lot of competition and just a 60% shot at selling your home at all. How do you make it happen in this market? With an aggressive marketing plan, and most importantly – THE RIGHT PRICE.

Short sales and foreclosures in Glastonbury CT in 2011: Out of all sold homes in 2011 3% were short sales and 6% were bank owned (foreclosed). 3% of all currently listed homes are short sales, while 2% of homes are bank owned – making distressed homes 8% of the current inventory in Glastonbury, CT.

What will 2012 hold? Only time will tell.

FIND THE RIGHT GLASTONBURY, CONNECTICUT REALTOR.

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Glastonbury CT average sale price and square foot price

02-12-12

Linda Edelwich

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Office: (860) 818-3610 x146

Mobile: (860) 818-3610

Glastonbury CT: Average price of sold properties and the price per square foot range.

As we prepare for the spring market here in Glastonbury CT, I prepared a market analysis of the current market from Feb 2011 through Feb 2012.

If you are looking to sell or buy a home here in Glastonbury CT, be sure to call me for up to the minute trends and inventory.

DescriptionFeb 11Mar 11Apr 11May 11Jun 11Jul 11Aug 11Sep 11Oct 11Nov 11Dec 11Jan 12Feb 12

Sold Average Price	633	389	352	373	422	445	383	422	374	317	395	320	297
Price per Sq Feet	165	158	162	167	176	170	156	171	151	168	164	147	130

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Glastonbury CT Condo Market Study report - preparing for the spring market

02-12-12

Linda Edelwich

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Office: (860) 818-3610 x146

Mobile: (860) 818-3610

As we prepare for the spring market here in Glastonbury ct, I prepared a market analysis of the current Condo market from Feb 2011 through Feb 2012.

If you are looking to sell or buy a condo here in Glastonbury CT, be sure to call me for up to the minute trends and inventory.

MonthLML3MPYMLYYTDPriorYTDPriorYear

Median List Price of all Current Listings	$279,900	17%		27%
Average List Price of all Current Listings	$283,029	-5%		11%
January Median Sales Price	$180,000	-13%	0%	35%	9%	$180,000	35%	9%
January Average Sales Price	$180,000	-28%	-18%	26%	-4%	$180,000	26%	-4%
Total Properties Currently for Sale (Inventory)	51	-14%		-9%
January Number of Properties Sold	2	-71%		-80%		2	0%
January Average Days on Market (Solds)	132	55%	42%	23%	35%	132	23%	35%
Asking Price per Square Foot (based on New Listings)	$166	6%	1%	-5%	4%	$166	-5%	4%
January Sold Price per Square Foot	$134	-10%	-4%	0%	-5%	$134	0%	-5%
January Month's Supply of Inventory	25.5	203%	41%	355%	96%	25.5	355%	96%
January Sale Price vs List Price Ratio	97.4%	3.2%	1%	1%	1.4%	97.4%	1.1%	1.3%

* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date

The Median Sales Price in January was $180,000, up 35.3% from $133,000 in January of 2011 and down -12.6% from $206,000 last month. The Average Sales Price in January was $180,000, up 25.5% from $143,390 in January of 2011 and down -28.0% from $249,986 last month. January 2012 ASP was at a mid range compared to January of 2011 and 2010.

glastonbury ct condo market

Inventory / New Listings / Sales

This look at the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in January 2012 was 13, up 62.5% from 8 last month and up 30.0% from 10 in January of last year

glastonbury condo market

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Glastonbury CT Market Study report - preparing for the spring market

02-12-12

Linda Edelwich

view my blog
Office: (860) 818-3610 x146

Mobile: (860) 818-3610

As we approach the spring market here in Glastonbury CT, I wanted to share a year in review persepective on our market.

If you are looking to sell or purchase a home here in Glastonbury, CT, be sure to give me a call for up to the minute analysis on our market.

MonthLML3MPYMLYYTDPriorYTDPriorYear

Median List Price of all Current Listings	$399,900	0%		5%
Average List Price of all Current Listings	$528,585	-1%		14%
January Median Sales Price	$317,000	-13%	-1%	-34%	-12%	$317,000	-34%	-12%
January Average Sales Price	$320,000	-19%	-9%	-44%	-22%	$320,000	-44%	-22%
Total Properties Currently for Sale (Inventory)	147	4%		50%
January Number of Properties Sold	9	-47%		-25%		9	0%
January Average Days on Market (Solds)	124	82%	53%	55%	75%	124	55%	75%
Asking Price per Square Foot (based on New Listings)	$195	11%	7%	1%	11%	$195	1%	11%
January Sold Price per Square Foot	$147	-10%	-8%	-11%	-11%	$147	-11%	-11%
January Month's Supply of Inventory	16.3	97%	61%	100%	117%	16.3	100%	117%
January Sale Price vs List Price Ratio	94.7%	-2.7%	-2%	1%	-1.9%	94.8%	7.3%	-1.8%

* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date

The Median Sales Price in January was $317,000, down -34.0% from $480,000 in January of 2011 and down -12.7% from $363,000 last month. The Average Sales Price in January was $320,000, down -43.6% from $567,250 in January of 2011 and down -19.0% from $395,305 last month. January 2012 ASP was at the lowest level compared to January of 2011 and 2010

glastonbury ct market trends

This graph shows the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in January 2012 was 40, up 66.7% from 24 last month and up 48.1% from 27 in January of last year.

glastonbury ct market