Uncover the Hidden Factors Keeping Glastonbury Home Prices High: What Every Homeowner Needs to Know

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:
Why we are not going to see a “buyers market” any time soon....The inventory is broken down into 3 categories: existing listings, new home builds, and shadow inventory (distressed properties).

The 2020-2021 “3% or better” mortgage have many homeowners holding onto their properties longer and selling, leading to EVEN lower inventory levels. I see many local homeowners wanting to jump in on the great sales prices and sell their homes but have found they had nowhere to go...

Home builders are not mass building in our area, stung by the 2008 mortgage debacle and lack of available land in our areas has contributed to an overall decline in new homes being available.

Why won’t we see a flood of foreclosure inventory? Due to tight mortgage lending standards in place post-2008, the likelihood of a substantial increase in defaults and foreclosures is very low. Further, the “baby-boomers” who have paid off their homes represents a huge chunk of the housing stock is which is unforclosable under any economic environment.

Did you know:
Baby boomers own more than 38% of the housing stock in the US and 54% of them own their homes outright. 40% of all homes in the USA are owned outright and 46% of homes have more than 50% equity.

Single family homes listed between: We have 29 houses on the market.
100-200 = 0       200-300 = 0
300-400 = 3       400-500 = 7
500-600 = 6       600-700 = 2
700-800 = 1       800-900 = 4
900-1million + = 3

Glastonbury Homeowners:
Contact me today for your free-market analysis and discover the secrets to a smooth and successful sale. Send me an email for a copy of my comprehensive seller’s guide. Looking for more tips and insights? Please reach out to me at [email protected]

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