Danbury Real Estate Market has changed rapidly.
Since 2019, we’ve seen condo prices go up by 41% and single family home prices go up by 65%. The average price of a condo increased from $187,500 to $296,500 while the average price of a single family home in Danbury went up from $272,067 to $439,850.
In 2022 the cost of real estate will keep rising, especially in areas like Danbury, Stamford CT. The current market is hot for buyers, but for sellers it’s the right time to put your house on the market. The average home sale price increased over $40K in 2020 compared to 2019, and the trend is expected to continue through 2022.
According to their forecasts for Connecticut’s housing market, experts are closely monitoring the number of houses for sale as 2022 begins.
There is a global shortage of homes. Global housing deficit is estimated to be 233 million homes in 2022, and it is still increasing. A number of affordable housing programs have helped ease certain problems over time, but the demand for housing continues to grow at such a rapid pace that the supply cannot keep up.
If you would like more information on the real estate market, please contact us.
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