How do these luxury community’s stack up by the numbers?
|Community Name||2008 Price Per Sq FT||2007 Price Per Sq FT|
|Lexington Mews & Lexington Court||$189||$180|
|Average for above:||$200.50||$212|
This chart below discusses units sold between January 1 & October 24 for each respective year:
|Lexington Mews & Lexington Court||7||8|
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|
|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.
|Lexington Mews & Lexington Court||99||88|
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.
This information is per Greater Fairfield County Multiple Listing Service,10/24/08. Information believed to be accurate but not guaranteed.