Dear Neighbor,

Like so many others, you want to make a move to a home that is better suited to your current needs and desired lifestyle. You want the right amount of space for privacy, relaxation, and recreation. Problem is, you’re worried about the monumental stress of actually making it happen. This is completely understandable.

For most of the population, real estate transactions are the biggest and most difficult financial transactions of their lives. There are so many moving parts and potential roadblocks. That’s why understanding the market you’re in is so important for making the best decisions. From there, working with a well-qualified real estate expert can help you lock down your hard-earned equity. As you consider your next move, here are two top things to know about the Fairfield real estate market right now: 

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Inventory Remains Historically Low

You’ve probably heard that the number of homes for sale has been declining. Well, this overall trend has continued despite some more homes for sale in the last couple of weeks.  At the end of May, there were just 257 single-family homes on the market in Fairfield—a 39% decrease from 421 in May 2020 and a 59% decrease from 627 in May 2019. Buyer demand is still high, so it’s no wonder sellers who correctly market their homes are receiving multiple offers! Homeowners that seek the guidance of a real estate expert can be sure to navigate this opportunity for a successful sale.

Mortgage Rates are Low, But May Rise

Due to inflation reported in May, and the growing percentage of fully vaccinated adults in the US, most economists and investors are expecting a boom in the economy. Since mortgage rates increase with these factors, they’re expected to increase but also fluctuate throughout the summer—potentially making home-buying more expensive. 

Housing and financial agencies are predicting rates to be in the low to mid 3s in the later part of 2021; but, according to The Mortgage Reports Editor, Tim Lucas, buyers are just as likely to find comparable rates by shopping around as they are by trying to time a rate lock later this year.  No matter what the market is doing, working with a real estate professional to properly price and position your home can have you getting multiple offers in a short period of time. 

Time on Market is Down

The average number of days a single-family home in Fairfield is on the market before entering into a contract dropped 56% since May 2020. It took an average of 107 days to go to contract last May, and just 47 days in May 2021. Homes that show beautifully and are well-priced continue to sell very quickly.

I have worked with buyers and sellers since the start of the pandemic to successfully reach their goals and accomplish over $15M in sales.  The market continues to be fast-paced, yet tricky with the need to navigate multiple offers, coordinate timing, and be in tune with what’s happening up to the minute. Buyers are looking for beautiful homes to bid on, and with my strategic listing preparation and marketing plan, my clients are positioned to get the highest possible price with the best possible terms for their priorities.

As a homeowner, what does this mean for you?

If you’re thinking of selling in the next 12 months, it’s time to start preparing for market.

What if you could off-load all the complicated worrisome steps to me and coast through a seamless, collaborative, positive, maybe even a bit fun, experience with peace of mind while you achieve your desired goal of capturing your ROI in as few days as possible? You deserve the utopia of the perfect home and lifestyle that you’ve worked so hard to enjoy.

If you are thinking of selling your home in the next 12 months, call me today for your Strategic Marketing Consultation → 203-912-4440

We’ll discuss your goals and timeline, briefly cover my unique approach to getting you the highest possible price and best terms for you in the fewest days on market, and if we seem like a match, we’ll discuss the next steps from there.

Call Today → 203-912-4440

To Your Success,

Linda Raymond
License # 077359
William Raveis Real Estate
LindaRaymond.raveis.com
Linda.Raymond@raveis.com
203-912-4440