Market Report for Glastonbury for May 2007

Residential 

There are 197 active listings in Glastonbury up to the end of May, compared to 173 active listings in April.  There were 73 new listings that came on the market in May, 49 deposits were taken and there were 33 closed transactions with an average sale price of $384,885, an average per sq.ft. sale price of $183 and an average of 57 days on the market.  Compared to the month of April, closings were up from 25 to 33, average sale price went down from $411,412  in April to $384,885 in May and days on the market went from 55 to 57.  In May of 2006 there were again 33 closed transactions with an average sale price of $412,964.  The average sale price for May 2007 compared to May 2006 is down by 7.3 %.  There appears to be about a 4 month supply of homes on the market.

Comparing the first 5 months of 2007 to the first 5 months of 2006, in 2006 there were 144 closed transactions, with an average sale price of $409,095.  In the first five months of 2007 there were 133 closed transactions with an average sale price of $426,446.  Closings are down 8% this year, but overall the average sale price is up by 4.24%.  We will have to keep an eye on the market to see if this trend continues.

Condominiums

There were 50 active condo listings in Glastonbury at the end of May compared to 37 in April.  There were 17 new listings that came on the market, 15 units went under deposit and there were 21 closed transactions.  The average sale price was $194,816, an aveerage per sq.ft. price of $166 and the average days on the market were 62. Compared to the month of April inventory is up 26%, closings are up from 12 in April to 21 in May and the average sale price is down a little from $196,075 in April to $194,816 in May.  Compared to May of 2006 closings went up from 19 last year to 21 this year and the average sale price went down from $205,545 in May 2006 to $194,816 in May of 2007.  Average sale price appears to be down 6.2%.

Comparing the first 5 months of 2007 to the first 5 months of 2006, in 2007 there have been 62 closed transactions with an average sale price of $200,719 and in 2006 there were 80 closed transactions with an average sale price of $206,714.  Sale prices overall are down about 3 % this year compared to last and sales are down 22.5%.

Marabeth Gildersleeve
Coldwell Banker Residential Brokerage
2300 Main St
Glastonbury, Ct 06033
860-633-3661 Ext.122

Mailto:Marabeth.Gildersleeve@CBMoves.com
http://www.CtRealEstateCorner.com