Fab Real Estate Blog: Danbury, CT - May, 2009 Real Estate Market Report

Danbury, CT - May, 2009 Real Estate Market Report

Danbury, Connecticut Real Estate Update
May, 2009

Closed home sales in Danbury, Connecticut:

Single Family Homes:
There were 25 single family home sales closed in Danbury, CT.

The median closed real estate sales price for single family homes in Danbury was $265,000. 

On average, these homes sold for 94.9% of their most recent list price.

Days on Market averaged 121 days of market time. 

This compares with 17 closed sales in May, 2008, with a median closed sales price of $339,000.


***  What is interesting to note is that of these 25 sales in May of 2009, 28% of these sales were bank-owned foreclosure homes - more than 1/4 of all sales in Danbury were foreclosure sales.  As foreclosure properties are typically priced just under market value, this can be seen to indicate why the days on market is so much lower than normal, as well as play a role in the declining  values compared to May of 2008.

Condos:
There were 19 condominium sales closed in Danbury, CT.
The median closed sales price was $205,000.
On average, these homes sold for 93.2% of their most recent list price.

This compares with 27 closed sales in May, 2008, with a median closed sales price of $268,000.

Danbury CT Median Sales Prices




Currently available homes for sale in Danbury, Connecticut:

Single Family Homes:
Currently, there are 274 single family homes for sale in Danbury, CT.
List Prices range from $135,000 for an older bank-owned home to $2,290,000 for a large Candlewood Lake waterfront home with guest house.

Condos:
Currently, there are 226 condos available for sale in Danbury, CT.
List prices range from $69,900 - $759,900.


Danbury, Connecticut, a former military depot during the American Revolution, is a diverse community of about 78,000 residents that borders New York State to the west and the southern shores of Candlewood Lake.  Several lake communities border Candlewood Lake, and typically offer a private beach for residents, boat docks and other amenities.  Danbury enjoys a convenient commute location to lower Fairfield County and Westchester County, New York.  Danbury is situated just about an hour by car to Hartford, Connecticut and New York City.

 

This Market Report prepared by:
Don Fabrizio-Garcia, REALTOR
Connecticut Real Estate & Appraisals
203.746.1199
Connecticut Real Estate and Homes for Sale

 

Data compiled from the Greater Fairfield County MLS and believed to be accurate

 

 

Comment balloon 0 commentsDon Fabrizio-Garcia • June 18 2009 02:23PM

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