We continue to see an increasing activity in terms of number of new listings, new prices and customers who have been renting who are exploring their new possibilities in the current market.
Although we live times of uncertainty, moving from being a tenant to own one's new home continues to be one of the immediate goals for many new families, and with more adjusted prices plus the lowest interest rates offered in many years, buyers are starting to taking real advantage of the current market.
As you can see in the tables below, the total of homes (single family properties) whose sales closed during the first two months of the year have declined to 36 from 47 units during the same period of time in 2008.
The Median Price came down from $342,500 to $314,875 or a 8.1%.
In average, the number of days these properties stayed on the market have remained very similar.
I will present some results for the towns of Bethel, Brookfield and New Fairfield in the next couple of days.
The table below shows how this segment of the market has behaved in the last three years. I have only selected those sales that occurred between June 1st and September 1st in 2006, 2007, and 2008.
Even though it took almost 40 days more in 2008 than in 2006, only 49 properties (2 bedroom condos) were sold but for a similar median price. It looks like property prices for this segment are recovering from 2007.
As you can see below, prices in Danbury have changed in average 4% per year during the last 3 years.
At least that is what a quick snapshot of what single family homes with a living area between 1,200 and 2,000 SqFt and in a lots of between 0.2 and 1 acres were sold for (Median Prices) between June and August in 2006, 2007 and this year.
The difference between the listing price (LP) and the selling price (SP) in 2006 was 2.43%, 1.33% in 2007 and 4.01% in 2008. This shows that these days the buyers' barging power is stronger than back in 2006 and 2007 and/or sellers are not listing their properties at the price the market is willing and able to pay.
64 properties were sold within June and August 2006, 40 during the same period of time in 2007 and 33 in 2008.
In terms of how long it took to sell one of these properties, it was observed that while in 2006 it took 67 days in average, 81 in 2007 and 84 in 2008.
How is the market these days in your market?
This is a snapshot of the current market in Danbury for Single Family Homes:
| Nr. Listings | Price Range | |
| 12 | $595,000 - $599,999 | |
| 11 | $325,000 - $329,999 | |
| 10 | $335,000 - $339,999 | |
| 9 | $295,000 - $299,999 | |
| 9 | $345,000 - $349,999 | |
| 9 | $355,000 - $359,999 | |
| 9 | $495,000 - $499,999 | |
| 8 | $365,000 - $369,999 | |
| 8 | $445,000 - $449,999 | |
| 7 | $375,000 - $379,999 | |
| 7 | $395,000 - $399,999 | |
| 6 | $245,000 - $249,999 | |
| 6 | $265,000 - $269,999 | |
| 6 | $315,000 - $319,999 | |
| 6 | $525,000 - $529,999 | |
| 6 | $695,000 - $699,999 | |
| 5 | $275,000 - $279,999 | |
| 5 | $310,000 - $314,999 | |
| 5 | $330,000 - $334,999 | |
| 5 | $435,000 - $439,999 | |
| 4 | $285,000 - $289,999 | |
| 4 | $385,000 - $389,999 | |
| 4 | $515,000 - $519,999 | |
| 3 | $290,000 - $294,999 | |
| 3 | $300,000 - $304,999 | |
| 3 | $350,000 - $354,999 | |
| 3 | $410,000 - $414,999 | |
| 3 | $425,000 - $429,999 | |
| 3 | $430,000 - $434,999 | |
| 3 | $475,000 - $479,999 | |
| 3 | $485,000 - $489,999 | |
| 2 | $1,295,000 - $1,299,999 | |
| 2 | $195,000 - $199,999 | |
| 2 | $240,000 - $244,999 | |
| 2 | $260,000 - $264,999 | |
| 2 | $280,000 - $284,999 | |
| 2 | $305,000 - $309,999 | |
| 2 | $340,000 - $344,999 | |
| 2 | $380,000 - $384,999 | |
| 2 | $440,000 - $444,999 | |
| 2 | $45,000 - $49,999 | |
| 2 | $450,000 - $454,999 | |
| 2 | $455,000 - $459,999 | |
| 2 | $465,000 - $469,999 | |
| 2 | $545,000 - $549,999 | |
| 2 | $55,000 - $59,999 | |
| 2 | $555,000 - $559,999 | |
| 2 | $565,000 - $569,999 | |
| 2 | $70,000 - $74,999 | |
| 2 | $75,000 - $79,999 | |
| 2 | $845,000 - $849,999 | |
| 2 | $895,000 - $899,999 | |
| 2 | $995,000 - $999,999 | |
| 1 | $1,145,000 - $1,149,999 | |
| 1 | $1,195,000 - $1,199,999 | |
| 1 | $1,245,000 - $1,249,999 | |
| 1 | $1,290,000 - $1,294,999 | |
| 1 | $1,380,000 - $1,384,999 | |
| 1 | $1,390,000 - $1,394,999 | |
| 1 | $1,425,000 - $1,429,999 | |
| 1 | $1,430,000 - $1,434,999 | |
| 1 | $1,495,000 - $1,499,999 | |
| 1 | $1,500,000 - $1,504,999 | |
| 1 | $1,550,000 - $1,554,999 | |
| 1 | $1,850,000 - $1,854,999 | |
| 1 | $135,000 - $139,999 | |
| 1 | $160,000 - $164,999 | |
| 1 | $175,000 - $179,999 | |
| 1 | $180,000 - $184,999 | |
| 1 | $185,000 - $189,999 | |
| 1 | $2,495,000 - $2,499,999 | |
| 1 | $200,000 - $204,999 | |
| 1 | $205,000 - $209,999 | |
| 1 | $210,000 - $214,999 | |
| 1 | $215,000 - $219,999 | |
| 1 | $225,000 - $229,999 | |
| 1 | $255,000 - $259,999 | |
| 1 | $3,495,000 - $3,499,999 | |
| 1 | $30,000 - $34,999 | |
| 1 | $320,000 - $324,999 | |
| 1 | $35,000 - $39,999 | |
| 1 | $360,000 - $364,999 | |
| 1 | $370,000 - $374,999 | |
| 1 | $390,000 - $394,999 | |
| 1 | $40,000 - $44,999 | |
| 1 | $400,000 - $404,999 | |
| 1 | $405,000 - $409,999 | |
| 1 | $415,000 - $419,999 | |
| 1 | $420,000 - $424,999 | |
| 1 | $460,000 - $464,999 | |
| 1 | $50,000 - $54,999 | |
| 1 | $505,000 - $509,999 | |
| 1 | $520,000 - $524,999 | |
| 1 | $535,000 - $539,999 | |
| 1 | $550,000 - $554,999 | |
| 1 | $570,000 - $574,999 | |
| 1 | $575,000 - $579,999 | |
| 1 | $585,000 - $589,999 | |
| 1 | $615,000 - $619,999 | |
| 1 | $625,000 - $629,999 | |
| 1 | $645,000 - $649,999 | |
| 1 | $65,000 - $69,999 | |
| 1 | $655,000 - $659,999 | |
| 1 | $680,000 - $684,999 | |
| 1 | $685,000 - $689,999 | |
| 1 | $715,000 - $719,999 | |
| 1 | $745,000 - $749,999 | |
| 1 | $790,000 - $794,999 | |
| 1 | $795,000 - $799,999 | |
| 1 | $815,000 - $819,999 | |
| 1 | $875,000 - $879,999 | |
| 1 | $890,000 - $894,999 | |
| 1 | $935,000 - $939,999 | |
| 1 | $945,000 - $949,999 | |
| 1 | $95,000 - $99,999 | |
| 1 | $985,000 - $989,999 |
Source: CT-MLS
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www.HomesByNestor.com REALTOR® at Coldwell Banker to assist and guide you in your Real Estate transactions using my experience in Marketing and Real Estate. English/Spanish/Portuguese.
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