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Marabeth Gildersleeve's Central Ct Blog

Articles will be posted that will be of interest to you as a buyer or seller or renter, including mortgage information, insurance information, market statistics for Glastonbury, Portland and Middletown, listings, open houses.
Glastonbury Market Report for December 2007

Glastonbury Market Report for December 2007 and Year End Comparison to 2006

 Residential Market for December

For the month of December 2007, there were 148 listings on the market, which is a decrease from 178, which has been more the norm.  There were 24 new lstings that came on the market in Dec., 19 went under deposit and there were 16 closed sales.  Below you can see the comparison to what happened in December 2006:

Closed Dec.2007:  16                                       Closed Dec.2006:   36

Avg. Sale Price:  $394,813                               Avg. Sale Price:  $443,879

$/Sq.Ft.:  181                                                    $/Sq.Ft.:  $183

DOM:  61                                                         DOM:  58

Closed sales were down 56% this December compared to last  and average sale prices

were down  11.1%.  Some of the change may be because of the weather that we had this December.

Residential Market  for 1/1/2007 – 12/31/2007 compared to 1/1/2006 – 12/31/2006

Closed 1/1/2007-12/31/2007:  368                 Closed 1/1/2006 – 12/31/2006:   387

Avg.Sale Price:  $449,247                               Avg. Sale Price:  $435,300

$/Sq.Ft:  $181                                                  $/Sq.Ft:  $185

DOM:  55                                                        DOM:  49

Number of sales were down 4.1%, but prices were up 3.2%.  Glastonbury seems to be holding fairly steady and is bucking the trend that you see in some other markets.

Condominium Market for December

For the month of December there were 41 active listings, 6 were new to the market, 3 went under deposit and there were 4 closed sales.  Below is the comparison between December 2007 and December 2006:

Closed Dec.2007:  4                                       Closed Dec. 2006:  14

Avg.Sale Price:  $217,125                              Avg. Sale Price:  $215,108

$/Sq.Ft.:  $163                                                 $/Sq.Ft.:  $160

DOM:  40                                                        DOM:  50

Although closed sales were down  71.4%, prices were up 1%, which is not too significant.

Condominium Market for 1/1/2007-12/31/2007 compared to 1/1/2006 – 12/31/2006

Closed 1/1/2007 – 12/31/2007: 152                 Closed 1/1/2006 – 12/31/2006:  192

Avg. Sale Price:  $207,587                               Avg.Sale Price:  $204,001

$/Sq.Ft.:  $164                                                  $/Sq.Ft:  $163

DOM:  47                                                         DOM:  47

Number of condominium sales were down significantly, by 20.8% and prices were up by

2%.  The condo market does not seem to be faring as well as the residential market, but again prices have not gone down.

Published Wednesday, January 02, 2008 4:08 PM by Marabeth Gildersleeve

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