Fairfield and Westport CT Real Estate Guide

Local insights on buying, selling, and living in Fairfield County


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Welcome to Fairfield CT Lake Mohegan Living at 120 Saddle View Road!

120 Saddle View Road, Fairfield Connecticut | Walk to Lake Mohegan

New Listing! A chance to own a home in one of Fairfield’s most sought-after lifestyle locations.

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Exceptional 5-Bedroom Colonial in Fairfield’s Desirable Lake Mohegan Neighborhood!

Featuring first-floor bedrooms, four full baths, an enviable private fenced backyard, and easy access to beaches, commuter rail, and Fairfield’s town centers, this home checks all the boxes. Ideally located steps from the Lake with serene dog-friendly nature trails, fresh-water swimming beach, and sprinkler area, this beautifully updated home with 3,328 square feet on three levels and .68 acres offers the perfect blend of space, convenience, and lifestyle.

Designed for flexible modern living, the home features multiple entrances, open-flow, and a large eat-in kitchen with an oversized island and direct access to the backyard for seamless indoor-outdoor entertaining.

The second floor offers two primary suite options, another guest bedroom and a full hall bath. The main suite is a private retreat with a vaulted ceiling, walk-in closets, a generous proportioned spa-inspired bath, and a balcony overlooking the backyard. An open flex space with a picture window creates an ideal home office, reading nook, or homework area. Convenient upstairs laundry completes the upper floor.

The lower level offers additional flex rooms perfect for a gym, playroom, media room, or workshop, while the attic, basement, garage, and shed provide exceptional storage.

Enjoy comfort , energy-efficiency, and peace of mind year-round with central air, (2 HVAC systems), extra insulation, and programmable thermostats in this generator-ready home.

Enjoy access to award-winning schools, peaceful nature, Long Island Sound beaches, shopping, dining, libraries, performance venues, Sportsplex, and two train stations.


Welcome to Lake Mohegan living in Fairfield!

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June 2026 Fairfield & Westport CT: How’s the Real Estate Market? 🌞🏡

Photo collage depicting summer fun, barbecues, pool play and the beach.


June is here! 🌞 Here’s a summary of the Fairfield and Westport CT single-family markets in May 2026 compared to a year ago.

May 2026 Takeaways 📝

  1. Inventory was still low but was rising.
  2. On average, homes sold 3-5% over the asking price, but this average reflects a wide range.
  3. Some homes sold way over asking with bidding wars and others sat on the market, or had price reductions.
  4. Market time was up in both towns.
  5. Buyers need to work with their agents to determine the best way to approach an offer based on the conditions specific to the home of interest, since competition is case-by-case.
  6. Sellers must approach the market strategically to capitalize on buyer demand balanced with buyer fatigue and be perceived as the best value available for the price.
  7. If you are financing, your offer needs to be extra attractive because you may be competing with cash offers that are very attractive to sellers due to their simplicity. As much as 46% of the May sales were cash deals in Westport, and 28% in Fairfield.

In Fairfield, sales were down 28% from last year, while inventory was 27% higher. The housing supply increased to 3.1 months-worth in May. These factors were helpful for buyers, though the median sale price was way up, 48%, compared to last May. Market time was longer than last May with an average of 33 days to contract, and 11% of homes took 90 days or more to get a signed contract.

Homes sold for an average of 105% of the asking price. This reflected a huge range though, from 79% to 138% of the list price! Most homes sold close to full price, with 86% of homes selling at or above 95% of the list price. Cash deals accounted for 28% of the sales, significantly fewer than last month.

Six Fairfield market charts showing unit sales, median prices, inventory, days on market, and months of supply.

Sales and inventory were down in Westport, compared to May 2025. The months of supply metric was also down to 4.23 months, though this reflected an increase from last month. Days to contract averaged 43, which was a significant increase from the prior year, though fewer than last month.

Sale prices averaged 103% of asking. There was also a wide variation here, with a low of 94% up to as high as 121% of the price. Ninety-one percent of the sale prices were at or above 95% of the asking price. Forty-six percent of the of the buyers in May reported using cash. A number of buyers withheld this information, so the percentage could be higher.

Six Westport market charts showing unit sales, median prices, inventory, days on market, and months of supply.

Spring 2026 Fairfield & Westport Real Estate Market: Trends, Pricing & Winning Strategies

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Life guard team prepping at Lake Mohegan Fresh Water Swimming Beach


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Discover Fairfield, CT: Nature and Community in Lake Mohegan and Lake Hills

Pip: Fairfield, Connecticut — where the commute to Manhattan is sixty-one miles, the trails are free, and the neighborhood secrets are only secrets if nobody has a podcast.

Mara: This episode covers the Fairfield and Westport CT Real Estate Guide, with posts from Luxury Coastal CT Real Estate Specialist Linda Raymond at William Raveis Southport — we're looking at two distinct inland neighborhoods, Lake Mohegan and Lake Hills, and what makes each one worth knowing about.

Pip: Let's start with the lake that comes with a waterfall and a splash pad.

Lake Mohegan Living

Mara: The question the Lake Mohegan post is really answering is whether this neighborhood can deliver an active, nature-forward lifestyle without the tradeoffs you usually accept when you move away from the coast.

Pip: The post frames it directly — residents enjoy what it calls a "vacation-at-home lifestyle," with trails, a Cascades waterfall, a natural dog beach, and a lifeguard-staffed fresh-water swimming beach all within walking distance.

Mara: The upshot is that most of that access is free and year-round. Trails, fishing, hiking — open to the public at no cost. The beach and splash pad are seasonal, but the open space itself never closes.

Pip: And the value proposition against the beach side of Fairfield is pretty concrete. Lots here run point-four-five acres or larger, compared to point-two-one or less near the water, and flood insurance is rarely required — the homes sit well above the Mill River valley.

Mara: With only three homes for sale in the neighborhood at the time of writing, inventory pressure is real. Fairfield-wide, there were ninety-one listings total, which tells you how tight the Lake Mohegan pocket specifically is.

Pip: Dogs off-leash past a hundred feet from the parking lot. That detail alone will close some buyers.

Mara: The Metro North connection matters too — the Fairfield Metro station is under four miles away, keeping Manhattan commutes manageable from what is genuinely a wooded, quiet neighborhood.

Pip: Which raises the question of what happens when that neighborhood has a private lake association attached to it.

Lake Hills Community Guide

Mara: The Lake Hills segment is about a neighborhood amenity that most Fairfield locals have heard of but few can describe — the post opens with exactly that tension.

Pip: The post puts it plainly: "Most Fairfield locals have heard of the Lake Hills Association, but many don't know much about it, as it remains one of those best-kept neighborhood secrets!"

Mara: What that means in practice is that buyers can miss a meaningful perk entirely if their agent doesn't flag it. Deeded membership to the association is tied to specific parcels — for some owners it's optional, for others it's required — and it runs about four hundred dollars a year.

Pip: For four hundred dollars you get access to five private beaches along the Samp Mortar Reservoir, live music, outdoor movies, and a structured swim lesson program with five levels and class sizes capped at ten. That is a genuinely specific amenity package for an inland neighborhood.

Mara: The beaches are spread across several streets — Tahmore Drive, Samp Mortar Drive, Mountain Laurel Road, Winnepoge Drive, and Sasapequan Road — each marked with a sign. The post notes, with some amusement, that the last one is labeled Beach 6 rather than Beach 5, and the association's own website doesn't explain why.

Pip: Nothing builds trust in a neighborhood association like unexplained numbering gaps.

Mara: The post also points out that Lake Mohegan park sits nearby and is open to all town residents — so the two neighborhoods we're covering today are actually within a short drive of each other, and the amenities layer rather than compete.

Pip: If you're buying with deeded beach access in mind, the post is clear: ask your agent specifically to filter for it, because it won't always surface on its own in a standard search.

Mara: And for anyone tracking value over time, the post flags the importance of monitoring estimated market value in a shifting environment — useful advice whether you're buying into Lake Hills or just watching the broader Fairfield market.

Pip: Two inland neighborhoods, two very different amenity stories — and both sitting minutes from the same parkway on-ramp.


Mara: Whether it's trails and a waterfall at Lake Mohegan or private reservoir beaches at Lake Hills, Fairfield keeps finding ways to deliver outdoor access that most buyers don't expect this close to a Metro North line.

Pip: Next time, we'll see what else is hiding in plain sight.


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Thinking About Moving to Lake Mohegan in Fairfield, CT? Top 10 Things You Should Know!

  1. What’s the neighborhood vibe? 🚶🏽
    • The streets near Lake Mohegan have a relaxed peaceful vibe. Neighbors are friendly, and many embrace an active lifestyle, so you can expect to see people out walking. Residents especially love to take advantage of living near the lake. With the beautifully scenic and peaceful trails, the Cascades waterfall, the natural dog beach, life guard staffed fresh-water swimming beach, and the playground and Splash Pad sprinkler area for kids, nearby home owners embrace the lake area lifestyle and enjoy it all!
  2. How good are the schools? 🎓
    • Fairfield is known for top-rated schools at all levels, and the North Stratfield Elementary School in the neighborhood is award-winning. Many families with children are attracted to Fairfield and the neighborhoods near Lake Mohegan for this reason.
  3. Can you actually use Lake Mohegan year-round? 📆
    • Yes, the open space at Lake Mohegan is actively used year-round. There are two marked trails for walking, hiking, picnicking, and outings with your dog. Fishing is permitted along the shoreline. The beach and sprinkler areas are seasonal. Lake Mohegan is one of the most popular recreational outdoor spaces in town. Access to the trails and the parking lot are free to the public.
  4. How dog-friendly is it? 🐕
    • Very! The trails and dog beach are perfect for dogs. Once you get about 100 feet from the parking lot, dogs are even allowed to be off-leash. Dogs are not allowed in the public swimming, pavilion, or sprinkler and playground areas, but the rest of the 170-acre open-space park is exceptionally dog-friendly. Below is the open space trail map from the town of Fairfield.
  5. What’s the commute to NYC? 🚊
    • Manhattan is 61 miles from Lake Mohegan, and most commuters take advantage of the convenience of the Metro North Train. The Fairfield Metro is 3.7 miles and about 11 minutes by car.
  6. Are home prices still rising? 🏷️
    • Home prices throughout Fairfield continue to experience upward pressure due to high demand and limited inventory. At the time this is written (6/7/26) there are 91 homes for sale in Fairfield, and just three in the Lake Mohegan neighborhood.
  7. How does it compare with beach-side of Fairfield? 🏖️
    • You can expect to get more property and privacy for your money in the Lake Mohegan neighborhood. Most properties here are in the R-3 residential zone with property sizes of .45 of an acre or larger. The Fairfield beach area is comprised of homes primarily in the A and B zones with .21 of an acre or less. Most of the homes in the Fairfield Beach area are in the AE Flood Zone and are subject to flood insurance and special building requirements. Lake Mohegan and Jennings Beach on Long Island Sound are 5-6 miles apart, which is 15 to 20 minutes by car. Whichever neighborhood you choose, these fabulous natural resources are not far away!
  8. Are there flood issues? 🌊
    • The lake and nearby Mill River are situated in a deep valley with nearby homes occupying property at a significantly higher elevations. Run-off from heavy rains tends to flow toward the lake rather than pool on the streets. Properties near the lake are in the low-risk risk zone on the flood maps, and flood insurance is rarely required. Storm surges from the Long Island Sound are too far away to impact this area.
  9. Is there enough nearby shopping and restaurants? 🛍️ 🍽️
    • There’s an abundance of shopping, restaurants, and amenities on Black Rock Turnpike, which is about five minutes and under two miles away. An additional hub of shopping and restaurants is located in downtown Fairfield, about 12 minutes and 4 miles away by car.
  10. What do current residents like most? 🤗
    • Nearby residents love that they can walk to the Lake Mohegan trails, Cascades waterfall, hiking trails, fishing spots, and the fresh-water swimming beach. They value the rare opportunity to be surrounded by nature with the convenience of being just minutes to shopping and dining, the Merritt Parkway, I-95, and the train. They enjoy access to top schools. And they cherish owning more land that offers privacy and plenty of space for recreation and gardening, in a neighborhood with an all-around “vacation-at-home lifestyle”!

Questions or comments about the Lake Mohegan neighborhood? Send a note below.

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Southport CT: The Strategy and Collaboration Behind a Successful Home Sale

494 Pequot Court, Southport, view of house and church steeple from across the street.


With Fairfield and Westport Connecticut real estate markets favoring sellers since 2020, it’s easy to assume that every home magically flies off the shelf. The reality is that the homeowners who seek a savvy agent, align with the strategy they propose, and take advantage of the resources they provide are the ones who enjoy success!

Every successful sale is the result of more than marketing alone. It begins with a shared commitment between homeowner and agent, followed by strategic planning, careful preparation, and ongoing collaboration throughout the process.

Aligned Vision

We met to confirm the end-goal and priorities before a plan was established. The goal was to sell quickly for the highest price, but remain in the property for an extra month or so to finish a work commitment.

Proposed Plan

In my role of sharing information to help my client make informed decisions, I told her that optimal presentation and attractive pricing were both key success factors before creative and comprehensive marketing could begin. We toured the property together, and I compiled a list of key selling points, potential objections, and recommendations for how to get top dollar. We drafted a schedule together and got to work.

I connected my seller with an excellent local attorney upfront, because the antique home had numerous property easement changes on the deed over the years, so we could be proactive in sorting that out.

Conservative pricing

We reviewed the market data on both town-wide and neighborhood levels, and then looked at the closest comparable sales and potential competition for her property. We agreed to price conservatively to attract buyers and elicit enthusiasm versus critique when they came through. This also created competition for the home.

I invited a handful of agents from my office for a preview and endorsement of our price since there was very little immediate market data available to pinpoint a number.

Intentional home prep

Since curb appeal makes the first impression, we began there. A tree in front of the house was cute when she bought it three years earlier, but it since grew to hide the charming front porch and adorable covered terrace beneath, two key assets of the home. So it was important to the mission to remove it. The brick terrace had also been covered by a layer of green growth since it was last purchased.

So I connected her with my best landscaper to complete a full landscape refresh including tree removal, weeding, trimming, power-washing, and mulching.

The interior was well-maintained and had been updated by the prior owner, but it was packed full of large-scale furnishings from a prior residence that was more than three times the size. Most of the furnishings were cherished finds from chic furniture stores or specialty antique shops. So we focused on what had the biggest impact. We relocated some chairs to open the space and showcase the fireplace. We moved smaller pieces from window sills into storage to capitalize on the beautiful views of the gardens. And we identified other pieces that could be stored in the garage or sold.

That’s when I shared my estate sale contacts who helped to sell several armoires and an extra bed.

We used staging as a key marketing strategy to showcase the home’s assets and best use of space, streamline the focal points, and make a powerful emotional impression for buyers starting with the first glance at the curb.

Strategic timing & comprehensive marketing

It was going to take a few weeks to get the home ready amidst my client’s work and family obligations, but once the paperwork was complete, I began a marketing campaign to promote the Southport Village neighborhood where the house was located. This included a series of blog posts about the history and amenities of Southport Village that were shared across multiple social media channels.

Southport Village Video Shoot
Southport Village Video Shoot

Because the location was as much of an asset as the house itself, we filmed clips all over town, which also drew attention and conversation about the upcoming sale among passers by.

Once the house preparation was complete, I brought in my professional photography, video, drone, and floor plan crew.

The rollout capitalized on an in-office announcement just before the listing approached the market, use of the Coming Soon status in the Multiple Listing Service, and a yard sign with my agent rider to build momentum and pre-fill the upcoming showing schedule. This was followed by activating the listing for showings along with a full promotion on all websites and social channels to announce the new listing, broker tour, and the weekend of open houses.

I shared the new listing launch with my vast network via text thread, networking groups, social media groups, and email contacts.

The beautiful professional images and video were shared across dozens of websites and social media channels, email, and printed brochures, so that news could reach everyone wherever they were and whenever they were looking, 24/7.

Potential roadblock

My client had replaced the cedar roof on the detached garage with a licensed contractor but without obtaining a permit. Our buyer insisted that the seller obtain the permit before closing. The added layer was that the house was in the Southport Historic District and a flood zone, so those two departments needed to sign off in addition to the building and zoning departments in order to close the permit.

I connected my client with the Fairfield zoning department and historic commission to begin the permitting process. Ultimately, I also had to press them to come out for the final inspection in time for the closing!

Resources provided

Landscapers, staging insights, estate planners, photographers, videographers, drone specialists, the right attorney, town officials, office colleagues, and my vast network were key resources I provided to my client as we worked together to implement the plan.

This network, along with the countless technology platforms, digital subscriptions, and APPs I employ, helped to pull it all together.

The result

Several showings were pre-scheduled for the first few days of the active listing. The broker tour and two open houses had a non-stop flow of interested agents and potential buyers. We received an offer well-above the list price right away. We knew we could not keep that buyer waiting but wanted to honor the previously scheduled showings and open houses. So we made an offer deadline of noon on Monday, and by then, we had three offers to review. We reviewed the benefits and risks of each offer, accepted one, and sold the house for 17% above the asking price with a rent-back to my client at an agreed-upon rate, for a month and a half.

  • Address: 494 Pequot Court, Southport
  • List Price: $1,495,000
  • Sale Price: $1,750,000
  • Percent Above List: 17%
  • Days on Market: 13
If you're thinking of moving in the next 12 months, call now for your free consultation -> 203-912-4440

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FAIRFIELD CT REAL ESTATE – FAIRFIELD BEACH BULLETIN, Q1 2026

Fairfield County Real Estate, Fairfield CT Beach Area, Fairfield CT Beach Bulletin, Fairfield CT Lifestyle, Waterfront Homes

🌊 Fairfield CT Beach Market Update – What Buyers & Sellers Should Know – In Your Quarterly Fairfield Beach Bulletin!

View Introduction

Visit Fairfield Beach Guide

View prior issues:
Fairfield Beach Bulletin – Q4 2025
Fairfield Beach Bulletin – Q3 2025
Fairfield Beach Bulletin – Q2 2025
Fairfield Beach Bulletin – Q1 2025

Questions? Reach out below.

If you're thinking of moving in the next 12 months, call now for your free consultation -> 203-912-4440

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Linda Raymond, Realtor | 203-912-4440
William Raveis Real Estate | 2525 Post Rd. | Southport, CT


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May 2026 Fairfield & Westport CT: How’s the Real Estate Market? 🌷🏡

May 2026 Fairfield & Westport CT: How's the Real Estate Market?
May 2026 photo collage with spring flowers and optimism!

It’s May! 🌷 Here’s a summary of the Fairfield and Westport CT single-family markets in April 2026 compared to a year ago.

April 2026 Takeaways 📝

  1. Low inventory continues, making it a competitive market for buyers, and giving sellers an advantage, in general.
  2. On average, homes sold over the asking price, but this average reflects a wide variation.
  3. There were a combination of bidding wars along with listings that sat on the market, and listings that reduced prices.
  4. Buyers need to work with their agents to determine the market competition and other factors specific to the home they want to bid on to inform a strategic offer.
  5. Sellers cannot take the low inventory situation for granted and must approach the market strategically as well in order to capitalize on buyer demand along with buyer fatigue.
  6. As much as 42% of sales were cash deals.

In Fairfield, sluggish sales and increased inventory caused the housing supply to increase to 2.34 months-worth in April. These factors favored buyers, though prices were still up due to greater buyer demand than housing supply. Sellers signed contracts in an average of 34 days, though many accepted offers within a week. Other homes sat on the market and had price adjustments before securing an offer.

Homes sold for an average of 5% above the asking price. This reflected a wide range though, from 93% to 121% of the list price. Most homes sold close to full price, with 97% of homes selling at or above 95% of the list price. Cash deals accounted for 42% of the sales.

Unit sales were up in Westport, despite a 22% drop in inventory from the prior year bringing down the months of supply. The seller’s advantage continued. Days to contract averaged 50, which was an increase from the prior year.

Sale prices averaged 104% of asking. There was also a wide variation here, with a low of 93% up to as high as 122% of the price! Eighty-six percent of the sale prices were at or above 95% of the asking price. Thirty-two percent of the of the buyers in April reported using cash. A number of buyers withheld this information, so the percentage was likely higher.

Check Spring 2026 Fairfield & Westport Real Estate Market: Trends, Pricing & Winning Strategies

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Spring & Summer 2026 Fairfield & Westport Real Estate Market: Trends, Pricing & Winning Strategies


What Are the Winning Strategies for Sellers and Buyers in Todays Local Markets?

Market Conditions in Fairfield and Westport Connecticut are characterized by continued low inventory, rising prices, some bidding wars, and some listings that are sitting and making price adjustments. There is some pent up demand from both buyers and sellers from a long harsh winter. Every home sale requires a strategy to suit personal goals and ideal positioning on the market.

Sellers, entering the market now still comes with the benefit of relatively low competition. But strategic pricing and optimal presentation are still critical for success.

You still need

✔️ Intentional home prep

  • Make sure to address obvious maintenance and repairs, both inside and out. Even though buyers may have to compete for a home in this market, they are still wary of maintenance and repair costs.
  • The exterior of your home makes the first impression regarding how much perceived deferred maintenance might be lurking inside.
  • Staging is a marketing strategy you can employ to showcase your home’s assets, show the best use of space, streamline the focal points, and make a powerful emotional impression that can seal your deal.

✔️ Conservative pricing

  • Pricing conservatively will attract buyers to generate competition for your listing. Doing so will also create enthusiasm versus critique when they walk through.

✔️ Strategic timing

  • Ask your agent what the rollout plan is and why.

✔️ Aggressive marketing

  • Ask your agent for your custom marketing plan and schedule.

How can you coordinate a purchase with your home sale?

  • If you are looking to buy and worry about coordinating your sale with finding your new home, you can protect yourself in the transition when you list your house “subject to finding suitable housing”. This means you are under no obligation to sell your house until you have found the new home.
  • Another option is to sell your house and rent it back until you’re ready to move. This puts cash in your pocket and positions you as a strong buyer. 
  • You can also request a long closing to give you time to find and close on your new home.
  • Consider using a Pod for storage and planning to get an AirBnB to ease your transition. This way you are already partially packed for your move and can take your time to decide on where you want to be without trying to match up any timelines.
  • You can opt for a short term bridge loan for your purchase that you pay back when you sell your house. 
  • Talk to your agent and mortgage broker about a strategy that works best for you. Putting your house on the market enables you to be a competitive buyer while expanding the housing choices for everyone out there shopping for a home!

Buyers, you may face multiple offers or have leverage to negotiate depending on the competition for the home of interest. It’s critical to have your budget set, down payment saved, and credit score in good order. Remember to avoid applying for financing of additional large purchases before and during a mortgage application process!

  • If you see something you like, be prepared to have your agent submit a complete and competitive offer including your pre-approval or proof of funds. If you need to sell your house first, talk to your agent as soon as possible to determine your strategy.
  • Keep in mind that you will likely be competing with cash offers, which are very attractive to sellers. Cash comes deals are much simpler and with less risk: no appraisal, no interest rate variables, no credit or job stability requirements.
  • So if you are financing, it’s important to do everything possible to make your offer attractive compared to the ease of cash.

Contact your agent to help you plan for your new home this year.

If you're thinking of moving in the next 12 months, call for a confidential consultation

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How’s the Real Estate Market? Fairfield & Westport CT, March 2026 🥶🏡

March 2026 Takeaways 📝

Fairfield and Westport CT single-family markets in February 2026 compared to 2025.

February sales were lack-luster compared to the same time in 2025, likely due to the frigid temperatures and ample snow in January. However, as ‘winter’ headed toward the rearview mirror, more sellers began to enter the market causing a rise in inventory. Competition among buyers remained stiff with many homes selling above the list price.

Contact your agent to help you plan for your new home this Spring! 🏡 🌱☀️

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#WestportCTRealEstate
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#HomeSellers
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#LuxuryRealEstate
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How’s the Real Estate Market? Fairfield & Westport CT, April 2026 🌱🏡

Photo collage depicting spring onset with the welcome warmth of the sun!

Welcome Spring! 🌱 Here’s a summary of the Fairfield and Westport CT single-family markets in March 2026 compared to a year ago.

March 2026 Takeaways 📝

In Fairfield, the sellers’ market continued, with just 96 single-family homes for sale and two months of supply despite a small increase in inventory from the prior year. The average time on market was a little over a month to contract. The median sale price and price per square foot was also higher than a year ago. Sales activity was up nearly 9% from March 2025, suggesting that more people are ready to get into the market and commit to their lifestyle goals.

Homes sold for an average of 4% above the asking price. This reflects a wide range though, from 83% to 124% of the asking price. Most homes sold close to full price, with just 13% of sales below 95% of the list price. Cash deals accounted for 37% of the sales.

Unit sales were also up In Westport, despite a dip in inventory from the prior year. The seller’s advantage continued here as well. Housing inventory was down 4% from the previous year with 74 houses for sale, and there were just under three months worth of supply. Days on market averaged 80, a nearly 67% increase over the prior year.

Sale prices averaged 102% of asking. There was also a wide variation here, with a low of 78% of the list price up to as much as 134% of the price! Interestingly though, 26% of the sale prices were under 95% of the asking price. So this average is made of extremes, and each sale is unique depending on the demand and perceived value for that particular property at the time it hits the market. A significant 62% of the sales in March were made with cash!


Sales Were Up

Sales activity was up in both towns compared to a year ago. Inventory was still low but appeared to be starting to trend upward. The spring market was delayed by extreme winter weather conditions this year, but more homes were beginning to arrive on the market.

The Opportunities…

Rates are holding steady with the 30-year fixed conforming mortgage rate at 6.125% and the jumbo rate at 6.000% at the time this was written. William Raveis Mortgage also offers adjustable rate mortgages (ARMs) with rates in the low-five percent range.

Sellers, if you enter the market now, you still benefit from low competition.

Concerned about coordinating a purchase with your home sale?

  • If you are looking to buy and worry about coordinating your sale with finding your new home, you can protect yourself in the transition when you list your house “subject to finding suitable housing”. This means you are under no obligation to sell your house until you have found the new home.
  • Another option is to sell your house and rent it back until you’re ready to move. This puts cash in your pocket and positions you as a strong buyer.
  • You can also request a long closing to give you time to find and close on your new home.
  • You can opt for a short term bridge loan for your purchase that you pay back when you sell your house.

Talk to your agent and mortgage broker about a strategy that works best for you. Putting your house on the market enables you to be a competitive buyer while expanding the housing choices for everyone out there shopping for a home!

Buyers, depending on the competition for the home you are bidding on, you may face multiple offers or you could have leverage to negotiate. Remember to have your budget set, down payment saved, and credit score in good order. Avoid taking out other loans or financing other large purchases before and during a mortgage application process! If you see something you like, be prepared to have your agent submit a complete and competitive offer including your pre-approval or proof of funds. If you need to sell your house first, talk to your agent as soon as possible to determine your strategy.

Contact your agent to help you plan for your new home this year! 🏡 🌱☀️

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