Danbury Luxury Townhome Statistics 2007/2008

How do these luxury community’s stack up by the numbers?

Community Name 2008 Price Per Sq FT 2007 Price Per Sq FT
Woodland Hills $175 $189
Lexington Mews & Lexington Court $189 $180
Briar Woods $200 $258
Lake Place $201 $201
Sterling Woods $203 $206
Stetson Place $204 $214
Arlington Woods $210 $217
Kensington Woods $222 $231
Average for above: $200.50 $212

This chart below discusses units sold between January 1 & October 24 for each respective year:

Community Name 2008 2007
Sterling Woods 22 25
Woodland Hills 10 10
Kensington Woods 10 9
Stetson Place 9 7
Lexington Mews & Lexington Court 7 8
Lake Place 6 6
Arlington Woods 5 7
Briar Woods 4 6
Total: 73 78

This sales data is for the entire calendar years, however the 2008 data is only up to 10/24/08.

Community Name 2008 High 2008 Low 2008 Average 2007 High 2007 Low 2007 Average
Stetson Place $315,900 $284,900 $303,644 $339,900 $295,000 $317,812
Arlington Woods $331,650 $288,900 $307,510 $375,000 $300,000 $327,866
Briar Woods $350,000 $307,000 $338,000 $405,000 $350,000 $382,014
Kensington Woods $361,500 $300,000 $326,750 $364,000 $324,000 $353,556
Sterling Woods $425,000 $307,500 $342,875 $485,000 $310,000 $366,028
Lake Place $440,000 $290,000 $332,500 $520,000 $300,000 $387,327
Woodland Hills $500,000 $320,000 $380,475 $560,000 $300,000 $451,000
Lexington Mews & Lexington Court $515,000 $381,000 $417,928 $508,000 $374,000 $414,588
Average for above:     $343,710     $374,962

The chart below is the average days for each luxury community from listed to closed. This data does not reflect homes that were listed a few times prior to the listing where the house was sold.

Community Name 2008 2007
Sterling Woods 93 91
Lexington Mews & Lexington Court 99 88
Kensington Woods 121 95
Lake Place 121 113
Woodland Hills 122 101
Arlington Woods 134 90
Briar Woods 152 127
Stetson Place 178 346
Average 127 132

To make sense of this all:

The units in Woodland Hills and Lexington Mews/Court are among the largest in Danbury, so the cost per square feet is the most affordable yet their average sales price is the highest. However, units at Briar Woods, Kensington Woods & Arlington Woods are almost identical in size but the price per square foot varies quite substantially. Lake Place is one of the oldest communities in the above list, yet do outsell & out price some of the newer ones. Kensington Woods is the hot community this year (2008), being so close to New York & Mill Plain Road, with the most sales of communities of its size (under 100 units) and being at the top of the chart for price per square foot.

Real estate is all local. The two communtities near Federal Road (Lexington & Sterling Woods) sell the quickest & in the upper end for prices. Time on the market to sell varied substantially, primarily due to the end of the construction at Briar Woods & near the sell out of Stetson Place where units where listed on the MLS with a long time before they were ready for occupancy (as was the case of 2008 there for a few units). Several of the large units at Woodland Hills & Lake Place were sold in 2007, which account for the substantial decrease on average sales price in each community & effected the average sales price for each year. Demand for these luxury townhomes has not dropped off in 2008 and the time to sell has decreased.

-Jon

This information is per Greater Fairfield County Multiple Listing Service,10/24/08. Information believed to be accurate but not guaranteed.

Search for real estate in any of these communities as well as others!

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s