Danbury, CT Real Estate News

By Pamela Burdette-Miller
(RE/MAX Unlimited Real Estate)
Let's not forget the important things in life. As I was trying to figure out how to print address labels from the business contact manager in MS Outlook so I could send out my Christmas cards, I came across this quote on a card from a colleague."People will forget what you said, people will forget what you did, but people will never forget how you made them feel!" ~ Maya AngelouTake a few minutes to slow down if you are moving too fast, speed up if you are moving too slow and make sure your loved ones know how much they mean to you. In our business as with many, relationships are critical to our success and people really do remember how we make them feel. Focus on the important stuff especially at this busy time of year.Enjoy a happy and safe holiday season!
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By Nestor Realtor, www.HomesByNestor.com
(Coldwell Banker Residential Brokerage)
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 NOT significant in the analysis.The largest propor...
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By Nestor Realtor, www.HomesByNestor.com
(Coldwell Banker Residential Brokerage)
                 No major changes can be observed in the market of Condominiums in Danbury when we compare what the market looked like on November 2nd and what it looks today:First of all the average Median Price is practically the same. We could see less new listings, similar number of Active Listings, as well as number of units under contract or in the status Continue to Show. www.HomesByNestor.com
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By Don Fabrizio-Garcia, Owner/Broker/Trainer - Fab Real Estate
(Fab Real Estate)
Danbury, Connecticut Real Estate UpdateOctober, 2007 Closed home sales in Danbury, Connecticut: Single Family Homes:There were 20 single family home sales closed in Danbury, CT.List Prices ranged from $209,900 - $719,000.Closed Sales Prices ranged from $216,000 - $700,000. The average closed real estate sales price for single family homes in Danbury was $390,021.  The median closed real estate sales price was $342,750.On average, these homes sold for 96.2% of their most recent list price.Days on Market ranged from 8 - 404 days, with the average being 130 days of market time.  This compares with 37 closed sales in October, 2006, with an average closed sales price of $435,505 and a median closed sales price of $413,000. Condos:There were 38 condominium sales closed in Danbury, CT.List Pri...
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By Nestor Realtor, www.HomesByNestor.com
(Coldwell Banker Residential Brokerage)
The major differences between the snapshot for November 2 and today are:The median listing price for properties under contract came down from $359,000 (29 listings) to $339,900  (32 listings)The median listing price for New Listings has decreased from $367,450 to $329,900.Active Listings haven't shown a change in median listing priceMedian Listing Prices for properties in the status Continue to Show (offer accepted) actually increased from $332,394 to $335,000. 
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By Nestor Realtor, www.HomesByNestor.com
(Coldwell Banker Residential Brokerage)
Median Selling Prices for Single Family Homes in Danbury have increased 63% from October 2000 to October 2007.Properties sold between October 2006 and October 2007 saw a reduction of 3.38% but those homes sold in October this year reached an increase in Median Selling price of 3.5% compared to the Median Selling price in September 2007.You can see in the charts below how the number of listings sold and how prices have behaved since October 2000.
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By Nestor Realtor, www.HomesByNestor.com
(Coldwell Banker Residential Brokerage)
In last week's snapshot we can see that 72.75% are currently active (no offers yet). New listings still showed a listing price ($367,450) above those that already have a contract ($359,000) but below the average Median Listing Prices for this week or $371,659.Those with the lowest prices are Continue-to-Show or Back-on-Market confirming that the current seller needs to adjust his/her prices to adjust to what the market is willing to pay for existing available properties. 
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By Nestor Realtor, www.HomesByNestor.com
(Coldwell Banker Residential Brokerage)
The weekly snapshot last week showed a total of 333 units (ACTIVE plus Sale Pending), with an Average Median Price of $318,310 (The Average Median Price was calculated as the sum of the product of Nr. of units times the median price for each status divided by the total number of units, so I could have a parameter to compare week by week how prices are changing).This week, we can see that the total number of units went to 321, and the Avg. Median Price to $296,662. This is a 6.8% reduction, and 288 active listings (all af the status shown except "Sale Pending") versus 292 last week. 
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By Nestor Realtor, www.HomesByNestor.com
(Coldwell Banker Residential Brokerage)
Danbury had a great month compared to one year ago in terms of Selling Prices for Condominiums: they went from a median price in October 2006 of $201,500 to $242,000 in October 2007, or a 20.10% price increase.Only 19 Single Family properties were sold in October 2007, while 37 were sold in October 2006, with a median selling price reduction of 21.91%. In September 2007, 28 single family units were sold or 50% less than the 56 units sold in 2006. Median Selling prices for single family homes were reduced 14.10%.Only one Two-Family home was sold in September 2007 but its selling price was 21.95% higher than the median price of the 4 units sold in September 2006 In total, there were 48.21% less units sold in September 2007.
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By Nestor Realtor, www.HomesByNestor.com
(Coldwell Banker Residential Brokerage)
This is the Weekly Snapshot for the current Real Estate Market in Danbury for the week ending on October 26, 2007.As you can see, the market as of today, shows that almost 14% of the Single Family properties already have an offer or an in the process of closing. It looks like in average it has taken in average 114 days for those Single Family properties to reach their current "Under Contract" status.There are 14 new Single Family listings, and 6 Single Family properties came back on market.
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By Nestor Realtor, www.HomesByNestor.com
(Coldwell Banker Residential Brokerage)
This is my weekly snapshot of the current market of Condominiums/Co-Ops in Danbury.Over 21% of the 333 Condo/Co-Op units currently in the market in Danbury are under contract or already have an offer accepted.There are 20 New Listings or 6.01% of the current market and 5.41% of Active Listings show a price reductions.  
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By Don Fabrizio-Garcia, Owner/Broker/Trainer - Fab Real Estate
(Fab Real Estate)
Danbury, Connecticut Real Estate UpdateSeptember, 2007 Closed home sales in Danbury, Connecticut: Single Family Homes:There were 27 single family home sales closed in Danbury, CT.List Prices ranged from $199,900 - $599,900.Closed Sales Prices ranged from $185,000 - $542,500. The average closed real estate sales price for single family homes in Danbury was $357,333.  The median closed real estate sales price was $335,000.On average, these homes sold for 96.9% of their most recent list price.Days on Market ranged from 11 - 364 days, with the average being 114 days of market time.  This compares with 53 closed sales in September, 2006, with an average closed sales price of $418,409 and a median closed sales price of $390,000. Condos:There were 26 condominium sales closed in Danbury, CT.Lis...
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By Peter Testa, PETER TESTA
(Nationwide Homes)
Are both fixed-rate and adjustable mortgage loans available? What is the interest rate? How long can I "lock-in" the financing at the current interest rate? Is a float down lock available in case rates drop after I have locked in? What are the other fees a lender may charge me in conjunction with my loan? Are funds for a second mortgage available? On adjustable loans: - How often will the interest rate be adjusted? - Is there a maximum limit on each rate change? - How often will the monthly payment be adjusted? - Is there a ceiling on payment adjustments? - Can the term of the loan be extended? - What is the maximum rate that can be charged over the life of the loan? - Is there any potential for negative amortization? Is there a pre-payment penalty clause? This involves extra charges f...
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By Nestor Realtor, www.HomesByNestor.com
(Coldwell Banker Residential Brokerage)
  We saw some interesting results in sales of Condominiums in Norwalk, Danbury and Stamford:As oposed to what happened with Single Family properties in Stamford and Norwalk last month, the number of condo units sold in Sept. 2007 was lower than one year ago for these three towns. (Danbury showed the largest difference).Prices, however, were higher this year than in 2006 for condos sold in Norwalk and Stamford. 
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By Nestor Realtor, www.HomesByNestor.com
(Coldwell Banker Residential Brokerage)
The mission of the Danbury Music Centre: - To sponsor musical organizations, both instrumental and vocal, in which persons of a wide variety of musical backgrounds are encouraged to study and perform classic and modern compositions to improve their musical ability and to share the joy of music with the people of the greater Danbury area. - The musical organizations of the Danbury Music Centre will be composed of amateur and professional musicians from the greater Danbury area and will be conducted by professional directors. Most performances will be free to the public.  Coming Events:SATURDAY, OCTOBER 13TH Sergey Vladimiroff - Pianist: Recital Oct 13, 8:00pm Pianist Sergei Vladimiroff will give an all-Chopin program of etudes at DMC HQ, the Marion Anderson Recital Hall at 256 Main St. S...
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By Don Fabrizio-Garcia, Owner/Broker/Trainer - Fab Real Estate
(Fab Real Estate)
The Federal Energy Regulatory Commission will hold a public meeting on Monday, September 24, 2007 at 6:00 pm at the New Fairfield High School for residents to voice their concerns about the new Shoreline Management Plan. The Candlewood Lake Shoreline Management Plan has been set and will charge fees to lakeside residents in New Fairfield, Danbury, Brookfield, New Milford and Sherman for docks and any buildings/patios on the shoreline.  These charges will be in place even though some residents actually own the land to the shoreline. The public is encouraged to attend this meeting to voice their concerns and learn more about the Shoreline Management Plan.   Don Fabrizio-Garcia, REALTORConnecticut Real Estate & AppraisalsCT Home GroupKeller Williams CT Realty203.746.1199Connecticut Real Es...
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By Don Fabrizio-Garcia, Owner/Broker/Trainer - Fab Real Estate
(Fab Real Estate)
Danbury, Connecticut Real Estate UpdateAugust, 2007 Closed home sales in Danbury, Connecticut: Single Family Homes:There were 55 single family home sales closed in Danbury, CT.List Prices ranged from $250,000 - $775,000.Closed Sales Prices ranged from $240,000 - $775,000. The average closed real estate sales price for single family homes in Danbury was $397,081.  The median closed real estate sales price was $360,000.On average, these homes sold for 97.7% of their most recent list price.Days on Market ranged from 2 - 788 days, with the average being 154 days of market time.  This compares with 53 closed sales in August, 2006, with an average closed sales price of $445,212 and a median closed sales price of $390,000. Condos:There were 37 condominium sales closed in Danbury, CT.List Price...
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By Nestor Realtor, www.HomesByNestor.com
(Coldwell Banker Residential Brokerage)
You will find in this report the number of units sold (SF) in August 2007 and a comparison of the sales reported in the same month one year ago.You will also see the difference between Listing Price and Selling Price showing the bargain power of buyers these days.Single Family Homes in the price range of $200k - $300K, a segment usually covered by First Time buyers showed an average Listing Price went actually up (7.45%). However, the difference between the Listing Price and the Selling Price was the largest: 14.23%. In other words, buyers closed for less than 14% of the asking price. [Please note than the fact there were only 11 units, if one or two of them suffered a drastic price reduction, these reductions will impact the average in a more dramatic way.]For homes sold in the price r...
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By Nestor Realtor, www.HomesByNestor.com
(Coldwell Banker Residential Brokerage)
 I detected some inconsistencies in my table prepared on Aug. 19, so I am only re-posting the section I could rely.Sorry!!!As I have said in other posts, not all markets and price segments behave the same. You can see that while the number of available Condos in the price range of $250K - $350K has slightly increased from 93 to 98, the number of Single Family homes in the range $450K - $550K has decreased from 56 to 41 in 10 days. Now, it doesn't mean those 15 homes were sold. Some may have been withdrawn from the market, or their listings may have been cancelled or expired. I am not sure if these tables will help but I will continue to do it for a couple of months, together with a table showing sales per month.Any ideas?I will run the model again on Sep.30 to see what trend Danbury is ...
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By Nestor Realtor, www.HomesByNestor.com
(Coldwell Banker Residential Brokerage)
This is the report showing sales in the last 30 days in Danbury. I will compare these figures with sales recorded until the last day of the month, next week.I have divided the sold properties in price ranges as usual. You can compare these results with those presented by Stamford and Norwalk. 
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