So how did our single-family housing markets in Fairfield and Westport Connecticut do this January compared to January 2020? As you’d probably expect, it’s been a chilly market for buyers! In a nutshell, sales and prices were UP, market time and inventory were DOWN. If you would like me to send you the link to the William RaveisLocal Housing Data tool so you can run graphs like the ones below, just send me a note! Here are the specifics from William Raveis.
In FAIRFIELD
Single-Family Homes Sales Increased 77% from 35 to 62. The Median Sale Price Increased 1.4% from $639,000 to $648,000. Market Time Decreased 43% from 114 to 65 days. Inventory Decreased 53% from 425 to 207 homes for sale.
In WESTPORT
Single-Family Homes Sales Increased 50% from 22 to 33. The Median Sale Price Increased 31% from $1,187,500 to $1,555,000. Market Time Decreased 44% from 156 to 87 days. Inventory Decreased 51% from 296 to 146 homes for sale.
Of particular note is that the number of homes for sale began to decline in June 2020 in both towns at the same time that sales were rising. Unit sales spiked in July through September in Fairfield and July and August in Westport. This trend is self-limiting by the lack of homes on the market. Inventory is now at an all time low, and new listings have been dripping into the market very slowly. There is not nearly enough choice to satisfy the current buyer demand and the added buying incentive of low interest rates. The series of snow storms during the past few weeks has also contributed to discouraging would-be sellers.
However, as of the third week of February, the pace of new listings entering the market appears to be picking up. With vaccine distribution on the rise and a much anticipated spring around the corner, things may be heating up very soon!
Luxury Coastal Real Estate Specialist | Fairfield Beach, Southport & Westport CT | Waterfront & Lifestyle Transitions | William Raveis Real Estate
Buying or selling a home can feel overwhelming, or exciting. It is one of life’s biggest transitions — and it often comes with more questions than answers. How do I price my home for top dollar? What upgrades matter most to buyers? How can I compete for Fairfield Beach or Westport CT homes for sale without overpaying?
I’m Linda Raymond, a Fairfield County Realtor with William Raveis, and I'm here to guide you to make informed decisions so your move is smooth, strategic, and successful!
As a lifelong Connecticut resident who has lived and worked in Westport, Fairfield, Southport, and neighboring towns, I bring deep local knowledge and community connections. My clients trust me for personalized service, innovative marketing, and results-driven strategies that help sellers achieve the best price and buyers find the right fit — whether that’s a luxury home in the Fairfield Beach Area or Westport or a first home in a welcoming neighborhood.
With nearly 100 five-star reviews and recognition as a Luxury Property Specialist, Chairman’s Elite Club member, and Connecticut Magazine’s Five-Star Professional Award winner, my track record speaks for itself. But what I value most are the long-term relationships I’ve built. Many of my clients return — or refer friends and family — because they know I’ll put their goals first.
Whether you’re upsizing, downsizing, or relocating to Fairfield County, I’ll start by listening closely to your needs and priorities. Then, I’ll create a custom plan to help you move forward with confidence.
Let’s make your next move rewarding — and even exciting. Call or text me today at 203.912.4440 to connect with a trusted Fairfield and Westport CT Realtor.
3 thoughts on “How’s the Local Housing Market in Fairfield and Westport CT – January 2020 vs 2021?”
Fairfield and Westport CT Real Estate Guide 
Pingback: Should I Sell My House? | Linda Raymond Real Estate Blog, Fairfield, Westport & More
February 23, 2021 at 1:56 pm
Thank you!
LikeLike
February 23, 2021 at 1:31 pm
Good info, Linda!
>
LikeLike