Danbury Real Estate Blog

Market Report-Westwood Village Danbury,CT

January 6th, 2012 11:20 AM by Jonathan Hall

The city of Danbury has a large number of condominiums for it’s size. Geared for buyers geared seeking a low maintenance lifestyle, condos are a popular choice. Some of the more well known communities are located along the western Route 6 , Mill Plain Road corridior. This area is centrally located near the New York border, with a ton of shopping,restaurants and the Danbury Fair Mall. The Brewster,NY train station is 10 minutes away, and there are several commuter lots that offer shuttle service. The area is near exit 2 of I-84, with I-684 appropriately 8 minutes driving time.

About Westwood Village,Danbury CT
Westwood Village is a large well maintained condo complex located at 55 Mill Plain Road in Danbury. The community of 294 ranch and townhouse style units offers modern floor plans and designed careful around the natural surroundings. The community offers reasonable common charges, yet great on site recreational opportunities. It’s a great spot to run errands from, with 2 grocery stores, a pharamcy, a couple of pharmacy’s, dryer cleaners and more within a 3 minutes of the neighborhood entrance.

Westwood Village – Recent Real Estate Activity:

Up to the middle of 2008, Danbury seemed to be immune for the economic slowdown and housing crisis. Danbury historically does better than most of the country due to proximity to NYC, major secondary employment markets near by, large economic base in Danbury and affordability compared to lower Fairfield County and Westchester County,NY. But in this market, there is a correction. 1 bedroom units prices have declined about 15% since 2007, which is about typical for the entire marketplace. Prices of 2 bedroom units have fallen dramatically about 29% since 2007. Three bedroom units have only experienced a slight decline, due to lack available inventory of 3 bedroom units in the development.

*Westwood Village offers different floor plans 1 and 2 bedroom units offering different amount of spaces. Sometimes if a couple smaller ones sell, it has a much larger negative effect on the prices. For further detailed sales information, please contact me.

Sellers have to be realistic in pricing their unit in hopes of getting it sold, but this is a great time to become a homeowner. Not only are prices favorable, interest rates are Buyers should be get on the train because this combination might not come back for a very long time. Most of time, with rents rising, you can be homeowner for almost much money as you would be paying in rent on top of getting all the benefits of owning a home.

Posted in:General
Posted by Jonathan Hall on January 6th, 2012 11:20 AM


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