Marabeth Gildersleeve

Portland Market Report - Comparison First Quarter 2007 to First Quarter 2008

Residential

1/1/2007 - 3/31/2007

Closed Sales - 19
Average Sale Price - $287,489
Average Price/Sq.Ft. - $149.46
Average Days on Market - 79

1/1/2008 - 3/31/2008

Closed Sales - 16
Average Sale Price - $ 278,038
Average Price/Sq.Ft. - $158.39
Average Days on Market - 53

Overall number of sales are down 15.8% and prices are down by 3.3%. This isn't too bad. There are only 55 homes on the market so the inventory has not gone up.

Middletown Market Report - First Quarter of 2007 and First Quarter of 2008

Residential

1/1/2007 - 3/31/2007

Closed Sales - 89
Average Sale Price - $264,732
Average Price/Sq.Ft - $155.03
Average Days on Market - 66

1/1/2008 - 3/31/2008

Closed Sales 51
Average Sale Price - $255,733
Average Price/Sq.Ft. - $163.02
Average Days on Market - 64

Overall the number of sales are down 42.7%, a major drop. Prices are down 3.4% which isn't too bad and days on the market are about the same. There are 164 homes on the market.

Condominiums

1/1/2007 - 3/31/2007

Closed Sales - 48
Average Sale Price - $165,977
Average Price/Sq.Ft - $142.16
Average Days on Market - 51

1/1/2008 - 3/31/2008

Closed Sales - 44
Average Sale Price - $181,718
Average Price/Sq.Ft - $153.04
Average Days on Market - 58

The number of sales are down 8.4%, but the prices are up by 9.5%. The condo market in Middletown seems to be faring better than the housing market. There are 89 condos on the market.

Glastonbury Market Report: 1^st Quarter 2008 Compared to First Quarter 2007

Residential

Jan.1, 2007 - March 31,2007

Number closed - 74
Average Sale Price - $455,310
Price/Sq.Ft. - $177.92
Average Days on Market - 57

Jan.1,2008 - March 31, 2008

Number Closed - 63
Average Sale Price - $432,051
Price/Sq.Ft. - $173.75
Average Days on Market - 54

Overall prices are down by 5.2%, sales are down 15% comparing the first quarter of 2007 to the first quarter of 2008. There are 161 active listings on the market.

Condominiums

Jan.1, 2007 - March 31, 2007

Number Closed - 29
Average Sale Price - $206,916
Price/Sq.Ft. -$163.63
Average Days on Market - 54

Jan.1, 2008 - March 31, 2008

Number Closed - 20
Average Sale Price - $192,931
Price/Sq.Ft. - $155.22
Average Days on Market - 61

Prices are down 6.8% and sales are down 31% comparing the first quarter of 2007 to the first quarter of 2008.

Middletown Market Report for December and a Comparison Between 2006 and 2007

Residential

There are 112 active listings on the market in Middletown which means inventory is down. There were 19 new listings that came on the market, 14 homes went under deposit and there were 11 closed sales. Below you will see a comparison between Dec. 2007 and Dec.2006:

Closed Sales 12/2007: 11 Closed Sales 12/2006: 26
Avg. Sale Price: $240,718 Avg. Sale Price: $286,758
$/Sq.Ft: 174 $/Sq.Ft: 163
DOM: 47 DOM: 65

Closed sales were down 52.7% and prices were down 17.1%, yet the price per sq.ft. was up by 6.7%. It looks like some mixed signals, but sales may have been down because of the weather.

1/1/2007 - 12/31/2007 Compared to 1/1/2006 - 12/31/2006

Closed Sales 2007: 376 Closed Sales 2006: 389
Avg Sale Price: $269,880 Avg.Sale Price: $274,629
$/Sq.Ft: 159 $/Sq.Ft: 163
DOM: 61 DOM: 63

Overall comparing last year to this year, sales were down 3.4%, prices were down 1.7% and average price/sq.ft. is down 2.5%. On a whole this is not a bad performance for Middletown.

Condominiums

There are 85 active listings, 12 new listings for December , 11 deposits and 12 closed sales. Below you will see a comparison between December 2007 and December 2006:

Closed Sales 12/2007: 12 Closed Sales: 12/2006: 15
Avg.Sale Price: $143,858 Avg.Sale Price: $223,732
$/Sq.Ft.: 149 $/Sq.Ft.: 156
DOM: 80 DOM: 42

Condo sales seem to be slowing a little and looking at this example it looks as though prices are way down. My opinion is that last year in December there were probably more units closed in Sonoma Woods, which would bring the average price up since they are priced much higher being in an Over 55 complex.

1/1/2007- 12/31/2007 Compared to 1/1/2006 - 12/31/2007

Closed Sales 2007: 219 Closed Sales 2006: 237
Avg.Sale Price: $160,267 Avg.Sale Price: $168,761
$/Sq.Ft: 147 $/Sq.Ft: 148
DOM: 49 DOM: 39

Sales were down 7.6% compared to 2006, prices were down 6.1% and selling time is up by 20%. Overall the condo market is not doing too badly even though there was a slight drop in prices and a slight drop in number of sales. If you are selling, pricing your property correctly from the beginning, is key to guaranteeing a sale, as well as overall condition of your condo.

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.