MArket Report for Glastonbury for April 2007

By
Real Estate Agent with Prudential Ct. Realty

Glastonbury Market Report for April 2007

Residential

For the month of April there were 43 new listings, 28 homes went under deposit and there were 25 closed transactions.  The average sale price was $411,412 and the median sale price was $365,000.  Homes sold for 96.87% of their final asking price and were on the market for an average of 55 days. There are 173 homes actively on the market.  Looking at the absorption rate, there is a 6 month supply of homes on the market.  In April 2006 there were 31 closed transactions with an average sale price of $419,838 and a median sale price of $360,000.  Homes in April of last year sold for 96.97% of their final asking price and were on the market an average of 44 days.   Prices seem to be holding steady, although homes are remaining on the market a little longer and sales are down about 20%.

Compared to March of this year, activity went down in April.  March had 60 new listings compared to 43 in April, there were 42 deposits compared to 28 in April and closings were the same for both months. 

Condominiums

 

There are 37 condos on the market.  In the month of April there were 17 new listings, 16 went under deposit and there were 12 closed transactions.  The average sale price was $196,075 and the median sale price was $201,000.  Condos sold for 96.89% of their final asking price and were on the market for an average of 59 days.  Looking at the absorption rate there is a 2 1/3 month supply of condos on the market.  In April 2006 there were 17 closed transactions with an average sale price of $219,402 and a median sale price of $200,000.  Condos sold for 98.51% of their final asking price and were on the market for an average of 43 days.

Activity for condos seems to have remained about the same, looking at March compared to April, although the average sale price went from $217,316 in March down to $196,075 in April and average days on the market went from 43 to 59.

 

 

Marabeth Gildersleeve

Coldwell Banker Residential Brokerage

2300 Main St

Glastonbury, Ct. 06033

E-Mail: Marabeth@CtRealEstateCorner.com

Website:  http://www.ctrealestatecorner.com/

 

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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
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Marabeth, thanks for the market report, and by the way how are you coming along with the house at Old Farms East in Middletown?
May 12, 2007 12:48 PM #1
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