From Condos to Single-Family Homes: Glastonbury Real Estate Update and Future Projections

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.

 
Glastonbury's single-family home update:
There are 18 available homes on the market in Glastonbury. Of these 18 homes, 7 are new construction, leaving just 11 ready-to-move-in-now homes available. This is certainly unprecedented. The need for homes that can close in 30-60 days is still very high. This winter, watch for any warming trends in the temps...I bet you will see houses hit the market on those warmer weekends and those homes get scooped up at great prices.  
Typically in a normal market, the seasonality aspect of homes coming on the market would be around St. Patricks Day. This year, I think we will see homes come on the market all through the winter months and the cadence of them selling will be status-quo to what we have seen these last few years - showings start on Friday and deadline for offers by end of weekend. Once interest rates dip down a little, we will see more buyers and more multiple offers.  Buyers could expect longer escrow times as well as sellers request the return of the rent backs.
Amount of single family homes listed between:
  100-200 = None         200-300  = 2
  300-400 = 2                400-500  = 1
  500-600 = 2                600-700  = 2
  700-800 = 2                800-900  = 2
                900-1million + = 5
Glastonbury's condo market update:
Currently, there are 2 condos on the market in Glastonbury. Last year there were 82 condos that sold. On average those condos sold 7% over-asking for a average sales price of $310,142. Compare that to 2022, we had 104 condos close, at an average of 5% over-asking and an average price of $262,627. If you recall, just about every week last year, I mentioned how HOT condos were....there is the proof.  
I have created a helpful seller’s guide. Visit for a free no obligation copy:  https://bit.ly/SellerGuideRequest

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