Cold Snap Can't Stop Glastonbury Homebuyers: Real Estate Market Update

Breaking down the real estate headlines and MLS stats so you, the local homeowner, can stay informed on what matters to our hyper-local Glastonbury market.

Sales of single-family homes
There are 30 available homes on the market in Glastonbury. Including my newest listing at 257 Old Farms Road. This home is a stunner! Over 6000sf and on 9.69acres. MLS id: 170545578.

Per MLS in Glastonbury: 1 home is listed under 300k and 4 homes are listed in the 300-400k range. 3 homes are listed in the 400-500k range and 3 homes are listed in the 500-600k range. 1 home is listed in the 600-699k range and 5 homes are listed in the 700-800. 6 homes are listed in the 800's and 4 are in the 900's. These numbers clearly show the LACK of homes on the market which is why sellers will still see appreciation of properly prepared/priced homes. We are seeing an uptick in buyer activity and offers!!! This is critical information that buyers are out now and ready to transact.

Sales of condos
Currently, there is just 1 condo on the market in Glastonbury. There are 7 condos under contract waiting to close. In the past 180 days, condos sold on average, 5% over-asking. If you think you want to sell your condo and you are waiting - you should reach out as soon as possible to beat the competition.

***The little bit of cold snap did not stop buyers this past week! They were out in droves and making offers***

Interest rates hover just above 6% for a 30year fixed with good credit and down-payment. Some areas of the country had reported a pause in buyer activity in Q4 of 2022 because of higher rates. Glastonbury really didn't see the pause as much to do with rates but more over, if we saw a decrease in activity, it was related to normal seasonality and lack of homes to meet buyer demand.