Where Do Most Buyers Come From To Danbury,CT

Real Estate Agent with William Pitt Sotheby's International Realty CT RES.0783448

Most sellers I meet with is convinced that everybody that has bought homes in CT over the last two years comes from New York. Danbury is a popular place to relocate due to affordable taxes, variety of real estate options and historically more affordable real estate prices than nearby NY state and lower Fairfield County, CT. Other attractions to Danbury include ample shopping, services, top rated public golf course & Candlewood Lake for recreation. 

However, not all buyers in Danbury, CT come from New York according to multiple listing data. Across the board, 1023 of properties were sold in Danbury from 1/1/2021 to 12/7/2021 for both single family and condos . According to MLS data, appx 595 transactions were sold to CT based buyers. 325 of buyers moved to relocated to Danbury, CT from New York, representing only 31.7% of all sales.  

Appx of 476 single family homes were told in Danbury.  The average home price in this time was $442,507. Approximately 51 single family homes that sold over $600,000 in Danbury. Of those, 19 number were purchased by New York buyers. Overall in all price ranges, 140  single family homes or 29.4% of the market were purchased by New York buyers.

Appx 545 of condos sold in Danbury,. The average price was $332,983. Approximately 87 were sold for over $500,000. Of those, 57 were purchased by New York buyers. Overall in all price ranges, 186 condos or 34.1% of all condos were purchased by New York buyers.

Across the board, the median price for these properties was $360,000 with an average price of $384,176. The NY based clients based properties that purchased was higher than the average transaction, $430,000 as a median and $443,403 as an average purchase price. This means about 15% above the typical sale.

What does this mean for clients?
As a sellers agent, it is important that I do this that and the other thing to promote clients houses. I also share properties with my trusted NY referral and lower Fairfield county contacts. Also keep in mind that the MLS system does not separate where in New York exactly the buyer came from (Manhattan vs. Putna,m or Westchester County), where exactly in CT or other regions buyers or sellers come to, and it's up to the listing agent to report accurately once a transaction has closed.

When acting as your buyers agent in CT, I take the time to explain the process as it is different than other nearby states. If you are not familiar with neighbors, we can check out different neighbors and see what the differences in terms of houses and what different prices would get you.  

Ready to talk about your move? Please contact me-Jonathan Hall with William Pitt Sotheby's International Realty 203-417-0523 or JonathanHallRealEstate@Gmail.Com

Data per smart mls 12/7/2021, accurate but not guaranteed. Post last update 12/8/2021. Please contact agent for more current information if desired. 

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Jonathan Hall-Realtor Serving Greater Danbury & Candlewood Lake with William Pitt Sotheby's International Realty
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This information is provided by Jonathan Hall,Realtor  with William Pitt Sotheby's International Realty in the Greater Danbury & Candlewood Region of CT. For additional information, please call him at 203-417-0523,203-796-7700X305 or email me at danburyrealestate@gmail.com . Unless indicated, all content is the property of Jonathan Hall. If you would like to use any of this information, please contact me for permission. He is a licensed CT Salesperson License #RES.0783448 with William Pitt Real Estate LLC License # REB.0751698. His office is located at 112 Federal Road,Danbury CT 06811.

Comments (1)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Jonathan I also would have expected most of the Danbury properties to have been purchased by Buyers from near by NY.  So even though it is a high percentage, I would have expected it to be higher.

Dec 08, 2021 11:42 AM