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Glastonbury is currently a Buyer's Market - Look for Opportunities!!!
Comparing the Glastonbury market median sales prices for the first half of 2009 ($320,000) to the corresponding period for 2008 ($392,300), the 18+% decrease is significant. This does not mean that everyone in town has lost 20% of the value of their houses; there are many indications that buyers in Glastonbury this year are choosing to be conservative, buying more modestly-priced properties. There are also more modestly-priced homes for sale in town.
If we look at the median sales, by price paid, we see that $320,000 in 2009 bought 119 Spring Street, a restored antique colonial with 2,100 sf, 8 rooms, 3 bedrooms and 2.1 baths on a .35 acre lot with a 2-car garage. The median sale price of $392,300 in 2008 bought 310 Eastbury Hill Road, a 2,144 sf colonial with 8 rooms, 4 bedrooms, and 2.1 baths on a .93 acre lot with a 2-car garage.
The number of houses closing decreased by about 14%, from 148 sales in 2008 to 127 sales in 2009 (based on Multiple Listing Service statistics as of August 13, 2009). For the successful sales in 2009, median days-on-market was just 43---(there were more well-priced homes than last year, when median days-on-market was 49)!  The range ... more

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