Jan – Aug   2007
		Nr. Units	Avg. Listing Price	Avg. Selling Price	DOM	Selling  /  Listing
	Single Family Detached	295	$394,103	$360,000	93	8.65%
	Condo	300	$267,786	$252,000	95	5.90%
	Two Family	27	$393,607	$385,000	109	2.19%
	3 Family	9	$508,000	$475,000	101	6.50%
	4 Family	4	$494,250	$489,000	148	1.06%
	TOTAL	635
	Jan – Aug   2008
	Single Family Detached	235	$364,219	$337,500	98	7.34%
	Condo	204	$272,125	$269,000	102	1.15%
	Two Family	17	$264,571	$285,000	127	-7.72%
	3 Family	5	$324,760	$240,000	103	26.10%
	4 Family	2	$415,000	$415,000	193	0.00%
	TOTAL	463

 

The tables above show how the real estate market in Danbury has behaved in the last 8 months when compared to the same period of time last year.

These are some conclusions we can draw that will assist you in reading these tables:

The difference between the  average listing price and the  average actual selling price for Single Family properties in the first 8 months of 2008 was  around 7.34% while it was 8.65% in 2007. What it means is that either listing prices were adjusted closer to what the market was willing and ready to pay, or/and that buyers had a better bargain power back in 2007 so they could get better deals (discounts).

Another observation worth looking at is the difference of number of properties sold. While 635 residential properties were sold in the first 8 months in 2007, 463 were sold in the same period in 2008.

Days on Market:
While Single family properties showed an increase in the number of days in the market of around 5% in 2008, Two Family homes stayed much longer (14%) and Four Family properties around 23&.

Change in Average Selling Price:
Only condominiums saw their selling prices increased from 2007 to 2008 in around 6.3% while  SIngle Family homes average selling price in 2008 has been 6.7% lower than in 2007.

Every market behaves different and by market I mean not only location but type of construction, so these conclusions are not necessarily a reflection of what is happening in other neighbor towns.