Connecticut’s housing market is healing and Danbury home buyers express strong interest as they look for houses for sale. There are more buyers than sellers, but we expect the housing inventory to increase as Spring approaches. Now is the best time to list in order to take advantage of the buyers searching for their dream home.
More positive trends were evident that the market is healing with 19 of the top 20 metro regions showing price increases in December, 2012. Also, foreclosure rates in the Stamford-Bridgeport market (which includes Danbury) dropped 0.25 percent compared to a year ago.
We are seeing housing prices rise in Fairfield County and the Greater Danbury Area with the median sale price rising 2.4 percent. The number of house sales saw a 14 percent jump compared to January, 2012. These are all very positive indicators that the marketing is definitely turning. Consumers are more confident in the economy and are feeling more secure with their jobs.
Rents for apartments are on the rise and this may be one reason there are more buyers looking to buy rather than rent. Mortgage payments can be about the same or even less than monthly rent. Many people have been building up their money and now see this as a buying opportunity with interest rates still so low.