SF homes in Danbury – Jan & Feb – 2008 vs 2009

Sales of Single Family Homes in Danbury – Jan & Feb 2009

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.

Sales Jan and Feb 1008 vs 2009

Condos in Danbury (2006 – 2008)

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.

STAMFORD – SF – Market Snapshot – Dec. 15

When comparing the snapshot of the market of Single Family homes in Stamford taken on November 23 and the one taken today, we can conclude that Active Single Family Homes have seen Median Listing Price increased by 1.15%, and homes under contract today have a Listing Median Price 28.53%  higher than those under contract on November 23.

On the other hand, those shown today as “Price Reduced” have a Median Listing Price of 29.82% lower than those under the same status on November 23.
New Listings today have a Median Listing Price of $937,000 vs. $729,000 for the same group on November 23, or a 5.13% price reduction.

NORWALK – Market Snapshot – Dec. 15, 2007

This is the Norwalk’s Current Market Snapshot as of December 15, 2007.

While on November 2 we had 371 Single Family units with a Median Listing Price of $585,000 and an Average DOM of 103 days, today we have 335 SF units with a MLP of $579,900 and Avg. DOM of 114 days. This represents a reduction of less than 1% in terms of MLP.

The Median Listing Price for NEW LISTINGS of Single Family homes today is 18.08% lower than those listed on Nov. 02.

Single Family homes in Norwalk today under contract have a Median Listing Price of 15.34% less than those under contract as of Nov. 02.

DANBURY – Current Inventory – December 2, 2007

The distribution of the current inventory in Norwalk as of December 2, 2007 is shown below:

The next table shows the total number of available units in Danbury, the average Days on the Market – DOM, and the Median Listing Price – MLP for each type of property and each status.

As you can see, the highest Median Listing Price for Single Family units is found under the status Reduced Price, and the lowest Median Listing Price can be seen for those with accepted offers – CTS. Maybe some of those properties under Reduced Price still will need to come down to hopefully become CTS.

New Listings show a MLP lower than those for CTS and ACTIVE properties.

I will not comment on the renewed single family since statistically one property is significant in the analysis.

The largest proportion of available units belongs to ACTIVE Single Family homes (38.31%)  and  ACTIVE Condominiums (35.59%).

NESTOR N. ROMERO

www.HomesByNestor.com
1800-314-0461