Home prices rose nearly 40 percent in Danbury for the month of June 2013 as compared to June 2012, according to home sales recorded by the Danbury Town Clerk.
Danbury saw 20 percent more home closings in June 2013 as well, although Realtors are not calling this a strong housing market.
“We’re seeing multi-bidding situations,” said Scott Clooney, broker and owner of ERA Goodfellow Homes, Danbury. Sales figures show sale prices rising. Cooney said a year ago, buyers were negotiating prices down. Not today. “It isn’t that the asking prices are higher. People are getting what they’re asking and sometimes more.”
Danbury’s figures for June 2013 show 82 houses changed hands, as compared to 68 for June 2012.
The price also rose. In 2012, the average selling price in Danbury was $253,900. In June 2013, the average selling price was $352,544, a 38.8 percent increase. Realtors attribute some of that increase to a shortage of houses on the market combined with many people looking to buy. Many people still can’t put their home on the market because the property is upside down, meaning the person owes more money than the home is worth.
“Some of it is supply and demand,” said Demaree Cooney, a Realtor with ERA Goodfellow. “Some of it is competitive bidding. I had one buyer lose out on three bids.”
She listed them off. On the first house, the buyer bid too late. The seller already found a buyer. On the second and fourth house, multiple bids put her buyer out of contention. On the third house, the buyer and seller couldn’t agree on a price and stopped talking $1,000 apart. After looking at the fourth house and losing it, the buyer went back to the third house’s seller and agreed to the higher price.
“It’s still a bit of a weak recovery, but it’s coming back. Buyers are coming out of the woodwork,” Demaree Cooney said.