Glastonbury CT Real Estate Market Report
November 2009
Welcome to Glastonbury, Connecticut!! Having a better understanding of the current Glastonbury real estate market conditions is critical in order to help you make a more informed decision when buying or selling a home in Glastonbury. To keep you up to date, I have included November 2009's market profile and trends for your consideration.
Property Sales
November Property sales were 45, up 95.7% from 23 in November of 2008 and 18.4% higher than the 38 sales last month. November 2009 sales were at their highest level compared to November of 2008 and 2007. November YTD sales of 404 are running 3.6% ahead of last year's year-to-date sales of 390.
Inventory & MSI
The Total Inventory of Properties available for sale as of November was 178, down -8.7% from 195 last month and down -23.9% from 234 in November of last year. November 2009 Inventory was at its lowest level compared with November of 2008 and 2007.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The November 2009 MSI of 4.0 months was at its lowest level compared with November of 2008 and 2007.
Market Time
The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for November was 55, down -1.8% from 56 days last month and down -17.9% from 67 days in November of last year. The November 2009 DOM was at a mid level compared with November of 2008 and 2007.
Selling Price vs Original Listing Price
The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The November 2009 Selling Price vs Original List Price of 95.5% was up from 93.9% last month and up from 93.4% in November of last year.
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