Glastonbury Real Estate Market Action Report
The data for the month of February 2010 as it relates to properties for sale in Glastonbury is:
- Property Sales
- Market Time
- Selling Price vs. Original Listing Price
The number of homes that sold in Glastonbury CT in February 2010 was 8. This was a decrease of 55.6% compared to 18 properties that sold the prior month. This was also a decrease of 69.2% from 26 properties sold in February 2009.
The number of homes available for sale in Glastonbury has remained pretty consistent over the last several years. The total inventory of properties available as of February 2010 was 197 which is an increase of 13.2% from 174 in January, although down 10.9% from 221 properties for sale in Glastonbury in February of 2009.
The term average Days on Market or (DOM) shows how many days the average property is on the market before it sells. The DOM for Glastonbury was 48 for February 2010. This is a 41.5% decrease from 82 days the prior month. More importantly, for you the consumer, this downward trend of DOM for properties for sale in Glastonbury indicates a seller's market.
Selling Price vs. Original Listing Price
The selling price versus the original listing price reveals the average amount that sellers are willing to come down from their original list price. The lower the ratio is below 100% indicates more of a buyer's market. The current ratio for properties for sale in Glastonbury is 90.7% indicating a buyer's market.
In this ever fluctuating real estate market, it's good to know what the current trends are when looking for your new property for sale in Glastonbury. Each month, I will give you all the information you need to understand this. As always, if you need further answers or clarification please contact Brian Burke at (860) 798-3272 or send an email to firstname.lastname@example.org.