According to RealtyTrac the number of Foreclosure filings in August 2010 compared to 2009 fell 5%. This represents the third month with a declining trend.

In their reports, it appears as the number of foreclosure filings in Connecticut was below the average number of filings nationwide. While one in every 804 households received foreclosure filings in Connecticut in August, the national average was 1 in every 381 homes.

There was an increase of 4% from July to August in the number of properties receiving a foreclosure filing, but still 5% below from what was seen last year, according to James Saccacio from RealtyTrac.

In one of my previous posts I showed how median selling price of 2 bedroom condos in Danbury behaved during the years of 2007, 2008, and 2009.

And in a more recent post this week I also showed that the median price for 2BR condos sold between Jan and Aug 2009 and 2010 were $200,000 and $212,250 respectively. It is aprox. 25% below the median price in 2008, but it looks promising. Also, the ratio between SellingPrice /ListingPrice in 2009 was higher (6.84%) than in 2010 (4.36%). In other words, back in 2009 buyers were offering a much lower price than the listing price.

It would seem as we are finally seeing an improvement in terms of selling prices for this particular segment of the market in Danbury.

Maybe a sign of hope for better times finally coming?

I was very fortunate representing this young couple as their buyer's real estate agent.

They simply fell in love with this beautiful dettached condo. I think it was a great buy: a single family home in a wonderful and well maintained condo complex in Danbury.

I wish them the very best in this, their first home.

Listed by Ron Waterfall and sold by Nestor Romero.

Sold on August 18, 2010.

Sold by Nestor Romero.

Comparing the closing of 29 two bedroom units in 2009 between Jan 1 and Aug 30, and sales of 22 units during the same period in 2010 brings some interesting results: the average price for two bedroom condos in Danbury has remain practically the same, and the best part is that the median price has actually increased by almost 6%.

Although the average DOM (days on market) in 2010 was 104, higher than the 86 average number of days in 2009, it is also interesting to see how the SellingPrice /ListingPrice ratio in 2009 was higher (6.84%) than in 2010 (4.36%). In other words, the selling price was closer to the final listing price of those units sold so far this year.

While trying to compare sales of one bedroom condos sold between January 1st and August 30 in 2009 and during the same period in 2010 I found that the median price in 2009 (Jan-Aug) was $85,750 and $155,000 for the same period this year.

Because only 3 one bedroom units were sold this year the statistics can be skewed. In future posts I will show how 2 bedroom condos and 3 bedroom condos behaved.

Stay tuned!

www.HomesByNestor.com

www.HomesByNestor.com

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.