The condo market is averaging about 7 months of inventory as of the end of May. That is an improvement of when inventory reached 14 months in January, but is up from 5.6 months supply in April. I think the large increase of properties going on the market is because people want to move in the summer.
The average days on market has increased from 90 days in March up to 112 days in May. In addition, the average price per square foot for sold condos have increased across the board from $159 a square foot up to $164. The median price for condo in sale in Danbury is currently $245,0000, compared to $230,000 in January.
If you would like additional information on the value of your Danbury condo or if you are interested in purchasing a condo in Danbury, please contact me.
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