Since 1998, the Inman Innovator Awards have honored companies, individuals and new technology that increases productivity, efficiency and transparency for consumers and real estate professionals alike. Out of more than 150,000 real estate firms in the country, only 50 or so finalists will meet the set of criteria to qualify. This year’s slate of winners was announced live at Inman Connect Las Vegas on August 10, 2023. The highest honor of “Top Brokerage” was bestowed upon William Raveis, a title that is well deserved after 50 years in the real estate industry.
William Raveis The #1 Real Estate Company in the United States!
Why William Raveis is continually named #1 locally, nationally, and globally every year? Read more on the Raveis Blog!
If you want your moving plans to be guided by an agent who has the best resources in the country, just give me a call to discuss your plans.
If you’re dreaming of Barbie’s Castle, now’s the time to make the practical, savvy, grown-up choice! 🙂
Step into History and Luxury: Discover 6 Crockett Street, Rowayton’s Charming Victorian Gem! Welcome to this enchanting home on coveted, historic Oysterman’s Row along the harbor. It boasts a walk-to-everything location, charming wrap-around porch, idyllic gardens, new stone walkways, & delicate wrought iron gates. Bright & airy with 9-ft ceilings & tall windows, the gracious foyer leads to a spacious family room & elegant fireplace. Save energy with propane, tankless hot water, spray foam insulation, new Anderson windows upstairs, & maintenance-free Azek on the porch. Gaze at the water from upstairs before exploring the charming maritime community. Walk to the beach, quaint eateries, & Pinkney Park. Explore bustling SONO, or hop on a train to NYC in under an hour. Enjoy covered parking for 2 cars in the garage & carport. Experience the joy of history, luxury, & serenity in this one-of-a-kind home.
Call for more information. Linda Raymond, Realtor® 2 0 3 – 9 1 2 – 4 4 4 0 William Raveis Real Estate 2525 Post Rd – Southport, CT 06890
In the meantime, there’s no harm in channeling your inner Barbie! An enthusiastic group from our Southport office sure did! ….We saw the movie too! 🙂
Prices went down a little bit in July… Because the rates are high, and all the buyers left the market, right? 🤨
-Ah…No. Prices were up again in July and we still have an imbalance ⚖️ of supply
and demand.
Why are Prices Still Going Up when buyers are sidelined due to interest rates?!
I want to read a quote to you from Lawrence Yun, who’s the Chief Economist
for NAR. This puts it in perspective He says, “We need 50% more listings to reach pre-pandemic
2019 housing inventory levels. And we need 100% growth in listings to reach an adequate
supply.”
So as a result, the average sale price was 104 to 105% of the listing price in Fairfield
and Westport in July. And the accepted offers compared to the total available listings were
also way higher than pre-pandemic levels. It has gone down a little bit from the past two years,
but compared to 2019, accepted offers accounted for 27% of the active listings in Fairfield,
which was DOUBLE what it was in 2019 (13%), and 15% of the available listings had accepted
offers in Westport, which was TRIPLE what it was in 2019 (5%). So there is still extreme demand relative to the supply.
What’s the Good News?
🏡 The GOOD NEWS is that rising prices mean that, on the sale side, you
enjoy a high sale price. On the buy side, when you get into your new home, you can enjoy equity
from the continued appreciation ↗️ in prices.
🏡 New listings 🎉 are also coming on the market each day. We have 46 new listings on the market in Fairfield and Westport as we speak.
🏡 And the market time ⏰ is a little bit longer. Instead of just a few weeks before something flies off the shelf with an accepted offer, now listings are staying on the market for an average of one to two months before going to contract, so you have a little bit more time to make decisions 😅.
🏡 And who knows, MAYBE RATES WILL COME DOWN at the end of this year or next year 🙏!
So, send me a note now, and when you come back from your summer vacation, think about making your move! You can also see all the July stats here.
If you are like many I know, you would like to make a move but are trying to figure out the best timing for your goals.
I am seeing some buyer resistance to prices due to the added expense of current interest rates. However, the imbalance of supply and demand still keeps us in a seller’s market despite the rising rates. Here’s the latest market update.
The charts below show a summary of what happened in July 2023 compared to last July. My What Sold Reports include a list and summary of all the single-family homes that sold in July 2023 in Fairfield and Westport Connecticut.
FAIRFIELD SINGLE-FAMILY – JULY 2023
WESTPORT SINGLE-FAMILY – JULY 2023
William raveis Local Housing Data
Low inventory and strong buyer demand continue to push prices of many homes higher and also limit the overall market pace in Fairfield and Westport.
Here are six key points to understand about the market in July this year compared to last July.
INVENTORY WAS DOWN 13 – 14% in the two towns.
UNIT SALES WERE DOWN 39% in Fairfield and UP 6% in Westport.
SALE PRICES AVERAGED 104% – 105% of asking in both towns.
ACCEPTED OFFERS COMPARED TO ACTIVE LISTINGS REMAINED HIGH at 27% of active listings in Fairfield and 15% in Westport. Although these are lower percentages than in July of 2020 through July 2022, the accepted offer levels were still significantly higher than those of July 2019 pre-pandemic; double in Fairfield (13%) and triple in Westport (5%)!
MARKET TIME INCREASED to a range of 36 – 50 days to contract.
CASH DEALS comprised 36% and 38% of the sales in July in Fairfield and Westport respectively.
When you are buying in this market, you want to be prepared to come in with a competitive offer. This includes being prepared with a mortgage pre-approval or proof of funds in hand so you can make an offer quickly when you see a home you want! Remember, there’s a 36-38% chance you may be competing with cash offers, so you will want to do everything you can to present a competitive offer. The good news is that new listings are coming to the market each day.
If you are selling a home that you paid cash for, you can look forward to a high sale price and maximum equity!
There are multiple offers on some properties, while others receive just one, and some will even have a price reduction if the initial price was too ambitious. Homes on average were still selling above the asking price in July. Some are selling for full price, some above, and some are selling below. It depends on the demand for the individual property.
Bottom line: Now is a still a great time to sell! Buyer demand remains high. Inventory is still low. As a buyer in this market, you can anticipate increased equity from price appreciation that is expected to continue. New listings continue to come to the market each day. Rates may also come down enabling you to refinance. Committing to the process will get you to your new home!
Reach out to me anytime with your questions about the market and to discuss your plans.
Not ready to think about your move yet? Please refer your friends to me using the form below. Referrals are a win-win!
See Instagram Reel! Connecticut is renowned for its picturesque landscapes, close-knit communities, and idyllic small towns. Among its gems are two charming coastal neighborhoods: Darien and Rowayton. For decades, Darien has been a sought-after destination for families and professionals alike, boasting top-notch schools and an affluent atmosphere. However, an increasing number of people are packing their bags and making the short move to Rowayton, a neighboring haven with its own unique appeal. Let’s explore the reasons behind this migration, uncovering the allure that draws individuals to Rowayton’s shores.
Coastal Charm and Tranquility
Rowayton’s waterfront location is one of its most alluring features. Nestled along the banks of Long Island Sound, this quaint village exudes coastal charm and tranquility. The serene beaches, breathtaking sunsets, and calming sea breeze create an ambiance that is hard to resist. Compared to Darien, Rowayton’s seaside lifestyle offers residents a greater sense of peace and connection to nature, making it a magnet for those seeking a more relaxed pace of life.
Sense of Community
While Darien has its own strong sense of community, Rowayton takes it a step further. The village’s smaller size fosters a tight-knit and welcoming environment where neighbors know each other by name. Rowayton’s community events, such as the annual River Ramble and Shakespeare on the Sound, bring residents together, fostering friendships and creating a real sense of belonging. For many, this close community spirit is a major factor in choosing Rowayton as their new home.
Arts and Culture Scene
Rowayton’s artistic flair sets it apart from its neighboring town of Darien. The village boasts a thriving arts and culture scene, with several galleries, studios, and creative spaces. The Rowayton Arts Center, for instance, hosts exhibitions and workshops, providing a platform for local artists to showcase their talent. For art enthusiasts, this lively cultural environment can be a significant draw, making Rowayton a haven for creativity and self-expression.
Quaint Village Charm
Rowayton’s charm is undeniable, with its picturesque streets lined with historic homes, charming boutiques, and cozy cafes. The village’s quaint and welcoming atmosphere is a stark contrast to the more suburban feel of Darien. Residents can stroll along Rowayton Avenue, admiring the picturesque architecture and stopping for a coffee at the local cafe. The town’s small size also means that everything is within walking distance, contributing to its intimate and laid-back ambiance.
Access to Nature and Outdoor Activities
For outdoor enthusiasts, Rowayton offers a wealth of opportunities to embrace nature fully. Residents can enjoy a leisurely paddle along the Five Mile River, take scenic walks in the local parks, or go sailing in the Long Island Sound. The abundant green spaces and proximity to the water attract nature lovers and outdoor adventurers who find solace in Rowayton’s natural beauty.
While Darien, CT, has long been a symbol of affluence and suburban living, the draw of Rowayton speaks volumes about the allure of this charming coastal village. From its coastal charm and strong sense of community to its vibrant arts scene and quaint village charm, Rowayton offers a unique lifestyle that is capturing the hearts of many. As more people make the move from Darien as well as from other Connecticut and New York towns to Rowayton, this delightful village continues to shine as a hidden gem along Connecticut’s coastline. Whether it’s the call of the sea, the sense of belonging, or the artistic vibe, one thing is clear – Rowayton has certainly carved out its place as a desirable destination for those seeking a different pace of life.
If you are like many people I know, you would like to make a move but are trying to figure out the best timing for your goals. We are still in a seller’s market, and here’s the latest market update.
The charts below show a summary of what happened in June compared to June 2022. And my What Sold Reports list all the single-family homes that sold in June 2023 in Fairfield and Westport Connecticut.
FAIRFIELD SINGLE-FAMILY – JUNE 2023
WESTPORT SINGLE-FAMILY – JUNE 2023
Low inventory and strong buyer demand continue to push prices of many homes higher and also limit the overall market pace in Fairfield and Westport.Here are four key points to understand about the marketin June this year compared to June 2022.
UNIT SALES WERE DOWN in both towns (20% in Fairfield, 30% in Westport).
THE SELLING PRICE AVERAGED 103% – 105% of asking in both towns.
MARKET TIME DECREASED to a range of 22 – 32 days to contract!
CASH DEALS comprised 31% and 39% of the sales in June in Fairfield and Westport respectively.
If you are buying a home, there’s a 30-40% chance you may be competing with cash offers, so you will want to do everything you can to present a competitive offer.
If you are selling a home that you paid cash for, you can look forward to a high selling price and maximum equity!
There are multiple offers on some properties, while others receive just one, and some will even have a price reduction if the initial price was too ambitious. Homes on average, are selling above the asking price based on June numbers though. Some are selling for full price, some above, and some are selling below. It depends on the demand for the individual property.
Bottom line: Now is a still a great time to sell! Buyer demand remains high. Inventory is still low. But new listings are still coming to the market each day, so committing to the process will ultimately land you your new home!
Reach out to me anytime with your questions about the market and to discuss your plans. Not ready to think about your move yet? Please refer your friends to me using the form below. Referrals are a win-win!
🏡 💫 Discover your dream home in Rowayton and bring your search to a fabulous finish!
Adorning the peaceful corner of two of the most prominent streets on Historic Oysterman’s Row, is this charming Victorian with its wrap-around porch and idyllic gardens. The romantic grounds showcase alternating blue hydrangeas and yellow roses, flowering pear trees, and dozens of other blooms. Lush colors are framed by new custom stone walkways and delicate wrought iron fencing. This special home embraces history, authenticity, and modern-day assets alike.
Nine-foot ceilings and tall windows on the main level give the space a bright airy ambience. Enter the gracious foyer leading to the spacious family room with elegant fireplace. Enjoy a meal in the formal dining room with access to the side porch. Create any meal in the adjacent kitchen with subzero and stainless appliances, ceiling-height cabinetry, peninsula with seating, mudroom access, and sliders to the picturesque bluestone patio. Your charming living room and first floor bedroom or study complete the first floor.
Five bedrooms and five baths accommodate all your needs. The first-floor bedroom or study features its own entrance and en-suite half bath. Three bedrooms reside on the second floor including the over-sized primary suite with custom walk-in closet and renovated spa bath with radiant heated floor and steam shower. The third floor features an in-law suite including bedroom area, kitchenette, sitting area, full bath, vaulted ceiling, and skylights.
Energy-efficiency is also a priority here, with propane fuel, tankless hot water, spray foam insulation, new Anderson windows on the upper floors, and new maintenance-free Azek on the wrap around porch.
Sneak a peek at the water from the upper floors before heading out to one of the most sought-after charming maritime communities in Fairfield County, just steps from your door. Stroll to the beach, Rowayton Seafood, Pinkney Park, take a short ride to bustling and chic SoNo, or hop on the train to NYC, in under an hour. Enjoy your covered parking for two cars in the garage and carport. Come home to your cherished, one of a kind, 6 Crockett Street.
Well it’s the first day of summer- and it’s freezing!! 😎 🥶
But don’t let that cool off your plans, because 299 people bought 🏡 and sold 🏡 in Fairfield and Westport last summer during July and August. 🥳 Right now there are 272 homes under contract and another 215 listings are Active or Coming Soon! Here’s a more detailed market update.
So if you’re not sure of the best timing think about your personal priorities and count back 100 days from your ideal closing date. Give me a call at 203-912-4440. Let’s heat things up! See you this summer! ☀️ ☀️
Searching for a home in Rowayton, CT, comes with its share of challenges. Let’s tackle the top 7 obstacles you will face as a buyer and the effective strategies to overcome them. By mastering these challenges, you’ll be well-equipped to find your dream home in this sought-after coastal community.
Limited Inventory: Navigating Rowayton’s competitive market requires proactive measures. Work closely with a trusted agent who can access off-market listings and notify you of new properties as they become available. Your agent may know of an exclusive property that has not been listed yet, and you can get a head start on a competitive bid. There be new opportunities coming to the market after the July 4th holiday.
High Housing Prices: Rowayton’s popularity means higher price tags. Determine your budget, secure your proof of funds or pre-approval, and consider alternative options within Rowayton.
Competitive Bidding Wars: Prepare for bidding wars by crafting a strong offer strategy with your agent. Offer a competitive price, have financing in order, and be flexible with closing timelines.
Property Criteria: Prioritize your must-haves, but be open to compromise. Your optimal choice may be the home that offers some of your top wishlist items and has the potential to add the remaining ones down the road.
Understanding Location: Take time to explore Rowayton’s neighborhoods, evaluate the streets you are considering, and seek insights from residents. Do you want a quiet road? Do you want to be able to walk to the town and beach? Are water views a plus?
Competitive Financing Strategy: Determine whether you need a pre-approval for a mortgage or proof of funds for a cash offer. This shows sellers you are a serious buyer. Year to date in Rowayton, 14 of the 26 homes sold were purchased by cash buyers (54 percent).
Emotional Decision-Making: Stay objective and focused on your needs and priorities. Seek advice from your agent to make informed decisions.
Overcoming the challenges of Rowayton’s home search is possible with the right approach. Leverage your agent’s expertise, stay flexible, and if a home checks off your key boxes, do what you can to make a competitive offer. With determination and strategic decision-making, you’ll soon find your ideal home in Rowayton, CT.
Ever wonder what the difference is between a home warranty and homeowners insurance? Here’s the scoop from our experts at William Raveis Insurance!
If you would like to see a brochure for the American Home Sheild Warranty and what it covers, send me a note below.
A home warranty is a great thing to have in your toolbox as a homeowner, especially if you have some older appliances. It can also be of great assistance when selling your home if your buyer’s inspection indicates that some appliances are working but past their indicated lifespan and your buyer wants some reassurance. Likewise, if you’re buying a home and you have concerns about older appliances, an annual home warranty plan can protect you from the expense of needing to repair or replace many elements in the house. Your negotiations will be more attractive if you ask for a credit toward a home warranty instead of a whole new appliance.
Fairfield and Westport CT Real Estate Guide 