Glastonbury CT Market Study report - A year in review

By
Real Estate Agent with William Raveis Real Estate 0757389
Market  OverviewMonthLML3MPYMLYYTDPriorYTDPriorYear
Median List Price of all Current Listings $399,450 0%   14%        
Average List Price of all Current Listings $530,510 3%   15%        
December Median Sales Price $363,000 37% 5% 18% 3% $360,000 4% 2%
December Average Sales Price $395,305 25% 5% 10% -1% $415,402 6% 4%
Total Properties Currently for Sale (Inventory) 146 -3%   25%        
December Number of Properties Sold 17 -35%   -32%   256 -12%  
December Average Days on Market (Solds) 68 2% -11% 0% 3% 69 5% 5%
Asking Price per Square Foot (based on New Listings) $176 -4% -1% -1% 1% $175 1% 1%
December Sold Price per Square Foot $164 -2% -1% 3% -1% $166 1% 1%
December Month's Supply of Inventory 8.6 48% 10% 84% 36% 7.6 20% 20%
December Sale Price vs List Price Ratio 97.3% 2.2% 0% 2% 1.1% 96.6% -0.2% 0.4%
* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date

Property Sales

December Property sales were 17, down -32.0% from 25 in December of 2010 and -34.6% lower than the 26 sales last month. December 2011 sales were at their lowest level compared to December of 2010 and 2009. December YTD sales of 256 are running -12.3% behind last year's year-to-date sales of 292.
 

Prices

The Median Sales Price in December was $363,000, up 18.2% from $307,000 in December of 2010 and up 37.2% from $264,500 last month. The Average Sales Price in December was $395,305, up 9.6% from $360,630 in December of 2010 and up 24.9% from $316,587 last month. December 2011 ASP was at highest level compared to December of 2010 and 2009.
 

Inventory & MSI

The Total Inventory of Properties available for sale as of December was 146, down -3.3% from 151 last month and up 24.8% from 117 in December of last year. December 2011 Inventory was at highest level compared to December of 2010 and 2009.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2011 MSI of 8.6 months was at its highest level compared with December of 2010 and 2009.
 

Market Time

The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for December was 68, up 1.5% from 67 days last month and equal to 68 days in December of last year. The December 2011 DOM was at a mid range compared with December of 2010 and 2009.
 

Selling Price per Square Foot

The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The December 2011 Selling Price per Square Foot of $164 was down -2.4% from $168 last month and up 3.1% from $159 in December of last year.
 

Selling Price vs Original Listing Price

The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The December 2011 Selling Price vs Original List Price of 97.3% was up from 95.2% last month and up from 95.7% in December of last year.
 

Inventory / New Listings / Sales

'This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in December 2011 was 24, up 9.1% from 22 last month and up 166.7% from 9 in December of last year.
 
 
Posted by

 

Linda Edelwich Realtor

 

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William Raveis Real Estate
218 New London Turnpike, Glastonbury, CT  06033

860-818-3610 (c)

 

Visit me anytime in Glastonbury www.iglastonbury.com

 Linda Edelwich, Glastonbury real estate

 

and www.WeknowGlastonbury.com  

 

Selling Glastonbury Real Estate blog by Linda Edelwich, Top Producing Real Estate Agent. Updates and information about Real Estate in Hartford County, Glastonbury, CT, Hebron, CT, Marlborough, CT , Portland, CT, and East Hampton, CT be sure to check out my market updates for valuable information about what is happening in YOUR town!

 

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Rainmaker
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Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Linda - Great, local real estate market report.  You've given both buyers and sellers a lot of good information to use.  Nicely done!

Jan 22, 2012 08:07 PM #1
Rainer
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Linda Edelwich
William Raveis Real Estate - Glastonbury, CT
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Thank you Laura!

Jan 22, 2012 08:25 PM #2
Rainmaker
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Ron Marshall
Marshall Enterprises - Saint Michael, MN
Birdhouse Builder Extraordinaire

Hi, Linda, I was just stopping by to say hello, and give you a little gift. 

Feb 22, 2012 11:00 AM #3
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