Your Guide to Glastonbury Real Estate Trends: Unpacking MLS Stats and Market Dynamics

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 35 available homes on the market in Glastonbury. 9 of those homes are new construction.  Per MLS in Glastonbury: 1 house is priced under 300k, 4 homes are priced 300-400k and 5 homes are listed in the 400-500k range and 7 homes are listed in the 500-600k range. 4 homes are listed in the 600-699k range and 1 home is listed in the 700-800.  2 homes are listed in the 800's and 5 are in the 900's. Lastly, 6 homes are listed over 1million.  
Glastonbury's condo market update:
Currently, there are 3 condos on the market in Glastonbury. This statement was from last week and it resonated really well, deserves repeating: Home prices are still pushing upwards forcing some buyers to seek lower entry point housing options. The result: Condos are HOT!!
Let's talk seasonality.
Everyone always asks me about timing and when to sell. They want to know if selling before the kids go to school or after the kids are out of school is important. The answer is Yes and NO (...for right now).  
Since we have moved past the 3% interest rates and any housing related moves resulting from needs realized during covid: we are seeing a return to homes coming on the market based on our historical seasonality - more houses typically come on the market in spring and over the dog days of summer, the built-up left-over inventory is typically sold off. This year we saw a late spring market bloom and pretty much all new listings were gobbled up. Any home that comes on the market is getting plenty of eyeballs on it and offers right away, if it checks all the boxes, is priced right, and presented properly. There is an extreme lack of homes for sale which is driving prices upward.  
The seasonality pattern is starting to be seen again.  As I see this lagging indicator develop, I can help better predict timing of when homes will sell with the best results. As I stated last week; the leading indicator for future pacing home sale price predictions is definitely our inventory levels.

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