Glastonbury Real Estate Trends: Homes and Condos Market Overview

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 23 available homes on the market in Glastonbury. There are NO homes priced under 300k, 3 homes are priced between 300-400k and 2 homes are listed in the 400-500k range and 3 homes are listed in the 500-600k range. 3 homes are listed in the 600-699k range and there are NO homes listed in the 700-800. 3 homes are listed in the 800's and 5 are in the 900's. Lastly, 4 homes are listed over 1million. 

Glastonbury's condo market update:

Currently, there are 3 condos on the market in Glastonbury. The condo market is really HOT! I a seeing a considerable push upwards on values. Condo price points are still affordable when compared to most homes in Glastonbury.

State of the Housing Market

A look at the national market shows us the rates have remained elevated at or near the 7% mark for much of Q1 and Q2. In July, rates hit a peak for 2023. While these higher rates have turned some would-be buyers away from making offers in the last few months, the lack of actual homes for sale is still keeping demand and prices high. Compare and contrast this look-back to our local market. What I have been seeing over the last few months is a return to buyers ready to make offers and I saw a very strong August. Locally, we are a strong market that continues to see sale-price growth relative to a lack of inventory. Keep this mind however: last year when rates hit the highs in late Q2, and then again in these last few months when rates pushed higher, I saw buyers do what they need to in order to win the offer but then really tighten the purse strings on potential inspection issues and such making contracts harder to keep together. Couple that with fluctuating rates making under-contract homes vulnerable to buyers feeling the squeeze - which could result in buyers terminating contracts. If you want a free no obligation copy of my seller guide:

Post a Comment