"Hartford metro area expected to lead as top housing market across U.S. in 2023" ~ recent headline in a Dec. 8, 2022 article by WTNH

"Hartford metro area expected to lead as top housing market across U.S. in 2023" ~ recent headline in a Dec. 8, 2022 article by WTNH. This article cited Realtor.com's 2023 housing forecast. Our area is "ranked the highest out of the top ten markets", "poised to do well" the article further cited. This prediction is really a reflection of the market conditions I am actively seeing right now.

Sales of single-family homes 
There are 37 available homes on the market in Glastonbury of which 16 are those same new construction homes leaving just 21 pre-loved homes available in Glastonbury. Sales are averaging 4% over-ask. 
Median price per square foot YTD is: $229.68.
Compare that to the overall median per sf in 2021: $204.

Sales of condos
Currently, there are 8 available condos on the market in Glastonbury. Sales are averaging 5% over-ask. 
Last year there was a total of 146 condo that sold. So far this year: 102.
The median price for condos YTD: $249,950.
Compare that to the overall median in 2021: $214,950.

"The housing market, once adjusted to the new normal of higher mortgage rates, will benefit from continued strong demographic-driven demand relative to an overall long run shortage of supply." ~ Mark Fleming, Chief Economist for First American.

As we head into Q1 of 2023, we still have more buyers than sellers in our hyper-local Glastonbury market. We are still feeling pressure from Millennials aging into home-buying, we remain a solid choice for people around the country looking to relocate to Central CT area, and we have strong "move-up" buyer activity. As we move into 2023, all of these factors are expected to continue to put upward pressure on home prices here in Glastonbury.