Like most people, if you live in the area, you have to work for a living. A great thing about Danbury is that it has the lowest unemployment rate in the state.
In Danbury, there are number of large employers, such as Cartus, the Danbury Hospital, Boehringer Ingelheim and more. Within an hour, there are is a lot of employment opportunities at Somers, Stamford, Norwalk, White Plains, Greenwich, Tarrytown, Hartford, and New York City.
Due to the lower costs of real estate and property taxes, the Greater Danbury and Candlewood Lake area is a natural fit for buyers looking for a place to call home.
How does this effect the real estate market? Because of the large employment base in Danbury as well as as large regional employment centers within commuting distance, there are no wild changes in the economy. On the national level, the Danbury area is historically the last area effected by a downturn and one of the first areas on the economic growth.
Typically,the further away from New York City you go, the more affordable homes are due to the increase of time you would spend commuting. However, there are expectations to a rule and as an experienced real estate profession, I can help you navigate the market and help identify the right property for your families needs. There is not a vast amount of inventory in certain price ranges, but there are still some short sales and foreclosure properties.
The real estate market is dynamic. The Danbury area offers all types of the real estate, so the market is not dominated by one type of buyer (such as luxury, second home,etc). It is a fairly good sized market, with people always going in and leaving, yet there is a still large amount of people who have been living in the area for years.
For determing a commute, I always suggest buyers plug in any perspective new address into goggle maps, and with the traffic field, see how long it would take to get their place of employment. There are some local tips and shortcuts to save time for your commute . You can always get a satellite or street view of the neighborhood. If you feel the property is too far away or you don’t like the neighborhood, we don’t have to arrange for a viewing. Your budget and commute tolerance does determine the type of property that you would be purchasing.
Not sure about purchasing or selling your property? Is the right time for you to relocate or relocate out of Greater Danbury? Can you afford to purchase a home or sell your property at today’s prices? If you need assistance in your real estate move , feel free to contact me below.
Jonathan Hall ,Realtor, William Pitt Sotheby’s International Realty- (203)796-7700 | call or text me on my cell phone (203)417-0523
www.danburycthomes.com | www.danbury-condos.com