Fairfield and Westport CT Real Estate Guide

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

Category Archives: Homeownership

Maintenance, lifestyle, transitions, decor, environment


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Navigating the Current Real Estate Landscape: Waiting for Interest Rates to Return to 2.85%

In the dynamic world of real estate, interest rates hold a significant sway over homebuyers’ decisions. Likewise, rates have an impact on homeowners’ ability to sell. As memories of the desirable 2.85% interest rate linger, the current market fluctuations have left potential homeowners pondering their next move. Of course, the unspoken value proposition in all of this is the impact that ‘home’ has on your lifestyle and quality of life. Each person needs to weigh how much they value their lifestyle relative to what they are willing to invest in a new home. In this discussion, we’ll delve into some strategic approaches that can help you navigate this uncertainty while awaiting the (unlikely) return of the coveted 2.85% interest rate.

1. Exploring Adjustable Rate Mortgages (ARMs) for Lower Rates: Consider opting for an Adjustable Rate Mortgage (ARM) in a higher interest rate climate. ARMs often begin with a lower rate than fixed-rate mortgages, potentially offering more affordable initial payments. As interest rates are expected to fluctuate, ARMs can be a prudent choice if you anticipate rates to decrease in the future. It’s crucial to understand the terms and associated risks of ARMs before making a decision.

2. Seizing Opportunity: Buying Now and Refinancing for Lower Rates: Rather than endlessly waiting for the ideal 2.85% rate, consider purchasing a home now and exploring refinancing opportunities later. By securing a home at current rates, you can build equity and enjoy the benefits of homeownership. Keep a vigilant eye on market trends to identify the optimal time for refinancing to secure a more favorable rate.

3. Negotiating Seller Concessions for Reduced Costs: Leverage negotiation skills when making an offer on a home by requesting a seller concession. This concession can be used to buy down the interest rate or cover closing costs. Keep in mind, that sellers typically have more leverage than buyers in the current market, but if a home has been lingering on the market longer than the average market time, the homeowner might be willing to work with you for a win-win agreement. This approach provides a means to mitigate the impact of higher interest rates, enhancing short-term affordability and financial flexibility.

4. Diversifying Investment Strategies: Exploring Real Estate Investment: For those hesitant about primary homeownership due to interest rates, diversifying into real estate investment can be an attractive alternative. Options like rental properties and real estate investment trusts (REITs) allow you to benefit from market dynamics while potentially bolstering your investment portfolio. Thorough research is essential to navigate each avenue’s nuances and risks.

5. Seeking Expert Guidance: Partnering with Financial Professionals: To effectively navigate the intricate interplay of interest rates and real estate, consult financial advisors, mortgage experts, and real estate professionals. Their insights and tailored advice can help you make informed decisions aligned with your financial goals and market projections.

Conclusion: In the pursuit of the elusive 2.85% interest rate, remember that the real estate market’s complexity extends beyond rates alone. By exploring ARM options, capitalizing on current opportunities and planning for future refinancing, negotiating for seller concessions, and diversifying investment strategies, you can confidently navigate today’s real estate landscape. Stay informed, seek professional counsel, and make choices tailored to your financial situation and aspirations.

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Dreaming of Barbie’s castle? Now, let’s make the savvy grown-up choice!

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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! 🙂


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🏡☀️ July 2023 Fairfield/Westport CT Housing Prices & Your Moving Plans After Summer Vacation

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.

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August 2023 Real Estate Update: Summer Market Trends in Fairfield & Westport CT

Hello Fairfield and Westport!

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.

  1. INVENTORY WAS DOWN 13 – 14% in the two towns.
  2. UNIT SALES WERE DOWN 39% in Fairfield and UP 6% in Westport.
  3. SALE PRICES AVERAGED 104% – 105% of asking in both towns.
  4. 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%)!
  5. MARKET TIME INCREASED to a range of 36 – 50 days to contract.
  6. 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!

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William Raveis Local Housing Data


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Top 5 Reasons People are Flocking to Rowayton CT from Darien & Elsewhere

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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.

  1. 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.

  1. 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.

  1. 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.

  1. 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.

  1. 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’re looking to join the Rowayton community, one of the featured homes newly listed for sale is 6 Crockett Street on Historic Oysterman’s Row.

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Hot Properties and Market Trends: Fairfield & Westport Real Estate Update – July 2023

Hello Fairfield and Westport!

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 market in June this year compared to June 2022.

  1. UNIT SALES WERE DOWN in both towns (20% in Fairfield, 30% in Westport).
  2. THE SELLING PRICE AVERAGED 103% – 105% of asking in both towns.
  3. MARKET TIME DECREASED to a range of 22 – 32 days to contract!
  4. 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.

When you are buying in this market, you need to be 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! 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 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!

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William Raveis Local Housing Data


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Home Warranty vs. Homeowner’s Insurance: What’s the Difference?

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.

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Master the Market: List Your House 100 Days in Reverse!

Maybe you want the equity from your house in time to buy a new one before the school year starts in the fall.

Or you want to sell your home and want to time your closing to minimize capital gains tax.

Perhaps you’ve seen beautiful listings come and go quickly, and you wish you could close ASAP so you can make a competitive offer on the next one you fall in love with.

Whatever your ideal timing is, begin the count down and count backwards on your calendar 100 days (at least, depending on average market time!) from the time you want to close on your sale. That’s the day you should have your listing paperwork signed in this market.

You need to allow time for the listing and sale process to take place.

Home Prep

Most people need two weeks or more to prepare their home for sale. Maybe you need a dumpster to do some quality purging. Maybe there are a few deferred maintenance items you’ve put off. Your agent or stager may have told you that your best selling price will follow a fresh coat of paint. Or maybe you want a top-dollar sale and opt for the wow-factor, offered by quality home staging. Many people need more time, but 14 days for home prep is a reasonable estimate to start with if you feel your home is close to being ready.

Market Time

Every market is different, and the average days on market will also vary with the season and other external factors. Note that the market time refers to the day the listing goes live on the MLS until a purchase agreement is fully executed.

Ask your agent what the current market time is in your town. The the days on the market of homes currently under contract will give the most recent view. The average market time of 76 homes under contract in Fairfield as of today (6/16/23) is 39 days. In Westport, there are 85 contracts with an average market time of 62 days. If we are going to be super optimistic, and say your Fairfield home will have a signed purchase agreement in record time, we can figure at least 35 days for market time.

Buyer Financing

Sixty to seventy percent of buyers YTD have used financing to buy their homes in Westport and Fairfield, so you need to account for the time it takes for the mortgage process, and this is typically a minimum of 45 days for a loan commitment.

“Clear to Close“

This precious term comes from the lender when they have cleared all the contingencies in the buyer’s loan application. Typically the lender needs another week after the loan commitment to reach clear to close status.

… and BOOM, before you know it, 100 days have whizzed by! These are very conservative time blocks, and most markets have a much longer market time. So before you miss your mark and risk losing your next dream home start the process that serves your goal.

Unlock Your Sales Success: Begin the Countdown! Mark your calendar, and count backwards. Rewind 100 days (or more!) from your desired closing date. This strategic milestone is when your listing paperwork should be completed in today’s market. Then you can enjoy the leverage you will gain to move into your next castle!

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Local Real Estate Report – Fairfield & Westport Connecticut June 2023

Hello Fairfield and Westport!

I know many of you are thinking of making a move but may be trying to figure out the best timing. 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 May compared to May 2022. And my What Sold Reports show all the single-family homes that sold in May 2023 in Fairfield and Westport Connecticut.

FAIRFIELD SINGLE-FAMILY – MAY 2023


WESTPORT SINGLE-FAMILY – MAY 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 market in May this year compared to May 2022.

  1. UNIT SALES WERE DOWN in both towns.
  2. THE MEDIAN SALE PRICE WAS UP in both towns.
  3. MARKET TIME INCREASED from last May and averaged 41 days to contract in Fairfield and 83 days in Westport. However, the May Median days on market in both towns was less than in April!
  4. 30-40% of all sales in May were CASH deals.

The amount of cash offers nearly doubled since before the pandemic. Thirty-three percent of all sales in Fairfield from January through May were cash deals, versus 18% during the same months in 2019. In Westport, forty percent of the sales YTD through May were cash, up from twenty-two percent in 2019.

If you are buying, 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.

When you are buying in this market, you want to be 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! The good news is that you have a little more time to make a decision than you did last year, and new homes are coming to the market each day.

If you will be selling a home that you paid cash for, you will enjoy full equity and a high selling price!

There are multiple offers on some properties, while others receive just one. Homes on average, are selling close to the asking price. This means some are selling for full price, some above, and others below. It depends on the demand for the individual property.

Bottom line: Now is a still a great time to sell! The inventory is still low and buyer demand remains high.

Reach out to me anytime with your questions about the market and to talk about 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!

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William Raveis Local Housing Data


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Fresh Start: Spring Purging Top 10 – Get Rid of it Now!

My husband likes to get a dumpster every year, or at least every other year right around this time. It’s funny, there always seems to be one of each in every home, the Pack Rat and the Purger. I’m definitely…the first one. Which one are you? 🙂

Our window above the kitchen sink looks out to the driveway, and one year I looked out and saw my bike in the dumpster! I said, “Hey, that’s my bike!” In truth, I hadn’t ridden it in years, maybe decades, so I didn’t have any strong arguments. Plus it turned out to make room for a nice new one that I actually do ride!

As hard as it is to part with…stuff, how much stuff do we really need to hold onto?

Although it takes a bit of time and effort, It is always refreshing to sort through and get rid of unneeded things. Not everything has to be thrown in the trash. Many things can be donated to GoodWill, Veterans of America, and other organizations, given to friends, family, or neighbors, or sold online.

You will also be glad you kept up with managing your clutter when it comes time to make a move.

Especially if you’re thinking of moving in the near future, you will have to put all that stuff somewhere anyway.

Doesn’t it make good sense to lighten the load before you have to pay to move it and then un-pack it again at your new home?

I have a client who put her dream move on hold for years simply because she didn’t want to face moving all the stuff in her attic that had been sitting in un-packed boxes since her previous move a decade earlier! Once she called me to help get the process going, she was de-cluttered, had some deferred maintenance done, plans made, and sold her house in a month! Her dream was to travel overseas for a year or so, and she’s been having a blast traveling ever since!

It’s always a good time for a fresh start.

1. “Revamp Your Closet: Toss Unworn Clothes & Shoes for Goodwill or Cash!”

2. “Digital Detox: Sell or Recycle Old Electronics – Phones, Computers, and More!”

3. “Clear the Shelf: Bid Farewell to Unwanted Books & Magazines!”

4. “Paws Off: Part Ways with Unused Pet Toys and Supplies!”

5. Kitchen Refresh: Clear Out Old Food & Supplies for a Fresh Start!

6. “Garage Transformation: Free Up Space by Purging Bikes and Toys!”

7. “Paperwork Be Gone: Discard Old Bills, Policies, and Tax Records!”

8. “Unclutter Your Vanity: Say Goodbye to Unneeded Toiletries and Makeup!”

9. “Farewell to Festive Clutter: Rid Yourself of Unused Holiday Supplies!”

10. “Banish the Misfits: Bid Adieu to Mismatched Socks, Sheets, and More!”

And that’ll do it! 😃 Reach out to me if you would like some resources or help getting started!

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