I know you like me, want to stay informed on our market. I have taken a look at the past 12 months of Glastonbury specific sales in order to provide you with a detailed report as to what occued in our market place. This snapshot is for single family homes only.
July Property sales were 26, equal to 26 in July of 2010 and -29.7% lower than the 37 sales last month. July 2011 sales were at their lowest level compared to July of 2010 and 2009. July YTD sales of 136 are running -19.0% behind last year's year-to-date sales of 168.
The Median Sales Price in July was $385,312, down -0.2% from $386,000 in July of 2010 and down -2.2% from $394,000 last month. The Average Sales Price in July was $445,564, up 2.5% from $434,498 in July of 2010 and up 6.1% from $419,920 last month. July 2011 ASP was at highest level compared to July of 2010 and 2009
The Total Inventory of Properties available for sale as of July was 185, up 1.1% from 183 last month and up 6.3% from 174 in July of last year. July 2011 Inventory was at highest level compared to July of 2010 and 2009.
A comparatively lower MSI (number of months needed to sell all the inventory) is more beneficial for sellers while a higher MSI is better for buyers. The July 2011 MSI of 7.1 months was at its highest level compared with July of 2010 and 2009
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 July was 41, down -32.8% from 61 days last month and down -37.9% from 66 days in July of last year. The July 2011 DOM was at its lowest level compared with July of 2010 and 2009
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The July 2011 Selling Price per Square Foot of $170 was down -4.0% from $177 last month and up 2.4% from $166 in July of last year.
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 July 2011 Selling Price vs Original List Price of 98.1% was up from 96.6% last month and up from 97.3% in July of last year
The number of New Listings in July 2011 was 49, down -36.4% from 77 last month and down -9.3% from 54 in July of last year.
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