Exploring the Glastonbury Housing Market: Limited Inventory and High Demand
Posted by Linda Edelwich on Tuesday, May 9, 2023 at 10:34 AM
By Linda Edelwich / May 9, 2023
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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 in Glastonbury
There are only 19 available homes on the market in Glastonbury.
Per MLS in Glastonbury: NO homes are listed under 300k and NO homes are listed in the 300-400k range. 2 homes are listed in the 400-500k range and 2 homes are listed in the 500-600k range. 2 homes are listed in the 600-699k range and 1 home is listed in the 700-800. 3 homes are listed in the 800's and 5 are in the 900's. 4 homes are listed over 1million...
Of these 19 homes, 11 are new construction. That leaves only 8 pre-loved homes available for the multitude of buyers. The lack of available homes to meet the market demand is why we continue to see upward shifts in the values of the homes coming onto the market. Simply explained: Economics 101: Supply and Demand.
This past week we saw more homes hit the market than in recent weeks. The current supply did not meet the demand and the result for my sellers who had their homes listed was incredible. Buyers pushed values and gave up contingencies to beat out their competition. My sellers learned how to evaluate many offers to ensure they are going under contract with the best possible outcome: a successful, stress-free closing for all involved.
Sales of condos in Glastonbury
Currently, there are just 3 condos on the market in Glastonbury. The activity on my new listing at 8 Copley Road was incredible. We received a multitude of offers and I will share the final sales price when it closes in 2 short weeks. If you think you want to sell your condo and you are waiting - you should reach out as soon as possible. There are very qualified BUYERS ready to buy!
Do you have a specific question about the market? Feel free to email me at [email protected] or send me a text. My contact info is found in my QR code.
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