Selling your home, a townhome, in Greater Danbury could be challenging. As a real estate professional that has been fortunate to help many clients over the years, I am very knowledge of the local housing market.
Market trends has been somewhat favorable toward the sellers. Sales year to date have changed, 424 closed homes year to date compared to 399. Average price has increased about 12% over last year to date and the median price has changed almost 16%. In 2019, the median price was $225,000 with a average sale price of $252,794. Year to date in 2020, the median price was $270,000 with a average sales price of $287,122. Some of the change has been more of the Toll Brothers construction on Danbury's westside which really inflates the numbers-but prices have increased in most other communities. You still have to price within reason-contact for details. In almost all Demand is up, but not generally not as strong as the demand for single family homes. .
Keep in mind a little bit of the following. Not all communities are eligible for the same type of loans. Some of the items that home inspector sees could be an issue the individual townhome owner may not be responsible for ,rather the association. Bylaws and budget review can be used a reason to have a buyer walkway from the transaction without penalty. Some of the buyers I have seen lately are starting to express concerns over mechincal systems being toward their excepted life. There are still some investors in the market, but they are being careful as to make the numbers work .Additional difficulties that I am seeing is some buyers complaining about the monthly dues if they are on the higher side, sometimes pet restrictions as well as sometimes parking. It has also been discouraging to some over the last several months that many of the condominium that have amenties did not open due to covid-19 concerns and did not adjust the fees.
If you are considering selling. I am familiar & active in the local marketplace. Visit my website to learn more or contact Jonathan Hall with William Pitt Sotheby's International Realty at 203-417-0523 or send an email.
Sales data per smart mls 12/2/2020,page last updated 12/2/2020
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