Sales soften, properties linger in county’s... -
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Published on: 7/17/2006
Last Visited: 12/6/2006
"Sellers have begun to realize they have to be competitive with their asking prices, that they can't reach beyond what's market value," said George Schneider of Preferred Properties in Danbury."It's taken a better part of a year to realize we're in a trend of reduced demand, increased inventory and the need for sellers to be more realistic in their pricing."
The housing market "is definitely in transition to a buyer's market," which is a month or two away, Schneider said.
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"The market for homes under $400,000 is less affected because the demand for beginner homes seems to have been sustained," said Schneider in Danbury.And home sales at the high end of the local market are still fairly active, he said.
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