Hello July! 🌺☀️ And it feels like summer!

Word on the street- It took a while (for Mother Nature to let go of cold weather and constant rain 🌧️!), but things finally heated up! In fact, some are even saying that “summer is the new spring market here in coastal Connecticut”.) Here’s a summary of what happened in June in our local Fairfield and Westport single-family housing markets compared to a year ago.

Stay informed of new listings, price changes, local market insights, and mortgage rates.

June 2025
Market Changes in Favor of Buyers & Sellers

What were the opportunities in June?

For sellers, unit sales were up in both towns and sale prices still averaged 103 to 104 percent of asking in Fairfield and Westport respectively. Market time remained brisk with an average of 23 days to contract in Westport and only 18 days in Fairfield. For buyers, more choice was emerging, with inventory increases of about 10 percent in Fairfield and 47 percent in Westport compared to June 2024 offering more of a selection! Plus, the median sale price actually went down in Westport, for a change!

At the time this post was written, the 30-year fixed conforming mortgage rate remained at 6.875%, but the jumbo rate was down to 6.125%.

Action Items.

Whether you are thinking of buying, selling, or both, it’s in your best interest to plan ahead by meeting with your agent early in your process. This will help you know what to expect in the current market and have a plan in mind.

Many sellers ask, when is the best time to sell? The answer is, when you are emotionally ready, your house is market-ready, and the time is right for you. There will always be pros and cons to the current market, and no one can accurately time it.

Pro Seller Tip: Five key factors will get your home sold, and you are in control of most of them! No matter the market conditions, it is critical to position your home to show its very best, which may include some staging and landscape enhancements. You can critique your home as if you were a protective buyer to gain perspective.

Pricing at or below market value is a strategy to attract the most buyers quickly and generate competition for your listing. Although there are still more buyers than listings, many buyers are feeling frustrated by years of rising prices and interest rates, limited choice, and bidding wars. Pricing your house attractively can help you sell for top dollar in the least amount of time.

Reach out to your agent proactively with your questions and desired outcomes so you’ll have a plan and timeline to get you where you want to go. Collaborate with your agent for the best marketing strategy and negotiations to maximize demand for your listing in the current market. If you’re concerned about where to go, consider this story. Here’s an overview of what you can expect for the process.

As a buyer in this market, be ready to go! There may be more of a selection, but that doesn’t mean there’s more time to make a decision, as market time is still uncomfortably fast. Reach out to your agent proactively to go over the process, current forms, and a plan that meets your needs. Your agent will help you navigate the market for a successful sale and/or purchase. How much time and leverage you have when bidding on a home depends on the competition for that property at the time it hits the market. Competition continues among buyers and there is still a short window before most sellers receive and accept offers.

If you are ready to make an informed decision, you will be well positioned to comfortably secure your new home. This means you are prepared to submit a competitive offer and your proof of funds or mortgage pre-approval are in your agent’s hands. Keep in mind if you are in a multiple-bid situation with financing, you may be competing with cash offers. Talk to your agent about how you can make your offer more attractive in other ways. If you need to sell your house before buying, discuss your options with your agent. Here’s a guide for what you can expect.

Will you be enjoying a new home before summer’s end? 🏡 💫

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