Fairfield and Westport CT Real Estate Guide

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

Category Archives: Neighborhoods & Community


by 1 Comment

FAIRFIELD REAL ESTATE REPORT – JULY 2021 – PLUS WHAT YOU NEED TO KNOW NOW

Dear Neighbor,

Some of you may have also received this newsletter in the mail. If you did not and would like to receive one, please send me a note below with your name and the address where you would like it sent with my compliments!

Like so many others, you probably 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. But the 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 the top things to know about the Fairfield real estate market right now: 

Sales are Up

The inventory remains low, yet the volume of sales is up. One hundred and five (105) sales closed this June, despite some buyer fall out, compared to just 93 single-family home sales last June 2020. This shows that the market is very dynamic. Many homeowners are listing and selling their homes, yet the current demand is still exceeding the supply.

Sellers who seek the guidance of a real estate expert to market their home and manage the turbulent activity are able to navigate this opportunity for a successful sale.

Supply is Way Down

In June this year, there are only 2.46 months of housing supply, whereas in June of 2020 we saw seven months worth of homes for sale. A balanced market has about six months of inventory.

Homes that show beautifully, are well-priced, and marketed strategically continue to sell quickly.

Since the start of the pandemic, I have worked with many clients 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 turnkey homes, and with my strategic listing preparation, solutions for sellers, and marketing plan, my clients are well positioned to get the highest possible price and 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

← Back

Thank you for your response. ✨


by 2 Comments

How’s the Housing Market in Westport and Fairfield CT at the Start of July 2021?

As far as the market is concerned, opportunity still knocks! So, why stay on the fence, when you can get a new one! 😉

You, like many others have been ready to get out of your current home for quite a while, but you haven’t made the move yet. It’s a monumental decision for sure. You want to get the best ROI and the best terms when you sell and also be able to transition to the right new home for your next chapter. You are worried about how to prepare your house for sale, navigate the process, and manage the timing. This is all very understandable. This is also why you need an expert agent who understands the current market and who will implement a strategy for you that fits with your priorities and guides you toward achieving your goals.

How’s the single-family housing market in Westport and Fairfield Connecticut as we head into July?

Take a look at the stats below comparing June 2021 to last June 2020:

In WESTPORT

  • Single-Family Homes Sales are UP 25.5% from 51 to 64 homes sold.
  • The Median Sale Price is UP 7.1% from $1,495,000 to $1,601,000.
  • Inventory is DOWN 22.6% from 283 to 219 homes for sale.
  • Months of Supply is DOWN 56.7% from 9 months to 3.72.
  • Market Time is DOWN 65% from 123 to 43 days.

In FAIRFIELD

  • Single-Family Homes Sales are UP 12.9% from 93 to 105 homes sold.
  • The Median Sale Price is UP 16.9% from $650,000 to $760,000.
  • Inventory is DOWN 42.9% from 434 to 248 homes for sale.
  • Months of Supply is DOWN 64.8% from 7 months to 2.46!
  • Market Time is DOWN 45.1% from 91 to 50 days.

The trends of extremely low inventory, increasing median sale price, and short market time continue through June. However, the market is not stagnant. Unit sales are up and we are seeing more homes listed for sale. In fact, as of the day of this writing, there are 71 newly listed single-family homes and condos in Westport and Fairfield. The buyer demand is still stronger than the supply which is keeping the inventory low, causing many multiple offer situations, and pushing sale prices upward in both towns.

Opportunities are here for both buyers and sellers in this dynamic marketplace, but we can all benefit from more homeowners listing their properties for sale!

As the summer temps rise, home appreciation as well as interest rates are anticipated to follow. Yet interest rates are still expected to remain historically low, and buyers continue to look for their perfect homes. If you are a homeowner on the fence, now is a great time to sell!

If you are thinking of selling in the next 12 months and would like to discuss how to buy and sell your home in the current market, call me today 203.912.4440.

← Back

Thank you for your response. ✨

 


by Leave a comment

SOLD and Accepted Offers in Fairfield Downtown and Westport Greens Farms, Second Half of June 2021

Happy 4th of July! The local markets continued with strong sales and accepted offers in both Downtown Fairfield and Greens Farms Westport during the last two weeks of June. The average days on market until the new listings accepted an offer was longer though, with 41 days in Downtown Fairfield and 37 days in Greens Farms compared to 17 and 20 in the first two weeks of June. Nearly all of the sales closed at or above the asking price.

If you are like many others who want to sell but are still on the fence, July offers an excellent window of time to make your move. Interest rates and inventory are still low, and buyer demand is still strong. Rates are expected to creep up toward the end of the summer, and August may be a big vacation month as usual, but especially now that most of us are vaccinated and everyone’s craving a get-away! You are right to arm yourself with an expert guide to help you put your strategy in place and ensure you reach your goal! Call me today to discuss your plans, (203) 912-4440.

What has sold in these two hot spots? Where are the accepted offers during the last half of June? Check out the scoop below!

FAIRFIELD DOWNTOWN – Within a one-mile radius of the train.

There were 12 sales and seven more accepted offers in Fairfield’s downtown and beach areas during the second half of June from the 16th through the 30th. This activity was slightly slower than the first half of the month that saw 13 sales and eight accepted offers. The average days on the market for these new listings with accepted offers was 41 with a range from 10 to 156 days.

SOLD:

NEWLY ACCEPTED OFFERS:

WESTPORT Greens Farms

Sales were UP in Greens farms with five closings during the last two weeks of June, compared to just two homes sold the first half of June and none during the last half of May.

SOLD:

There were five accepted offers in Westport’s Greens Farms neighborhood during the last half of June compared to four in the first half and none during the last two weeks of May. The average market time for these listings was 37 days ranging from 17 to 90.

NEWLY ACCEPTED OFFERS:

Call me if you are thinking of making a move in the next 12 months, and we will have a 15 minute consultation to discuss your goals, the market, and whether I can help. —> (203) 912-4440

← Back

Thank you for your response. ✨


by 3 Comments

FAIRFIELD REAL ESTATE REPORT – JUNE 2021 – PLUS WHAT YOU NEED TO KNOW NOW

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: 

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


by Leave a comment

Grateful for Our Positive Work Culture at William Raveis Real Estate!

Pictured below are scenes from a fabulous elegant lunch hosted by Bill Raveis and his wife Candy at their Fairfield Connecticut home to celebrate 🎊 the careful selection of our new Southport office manager, Tammy Fenelstein (after Amy Arnheim retired), and getting back to “normal” after the pandemic!  The festivities began earlier in the day at the weekly morning sales meeting in our Southport office where Tammy was introduced to us. The meeting adjourned with a group photo outside the building.

At Willliam Raveis the company’s mission is to be laser-focused on supporting the agents as their customers. So everything they do is driven by the goal of ensuring our success in serving you. This means providing the best cutting-edge technology, a family of companies to support seamless transactions, key solutions to solving the challenges you face when moving to a new home, the best agent training, and the best local, national, and global marketing resources. So we work hard, play hard, and celebrate our happy clients as we go.

You are right to want to work with the agent who’s company has a supportive, joyful, family culture which we are so grateful to have at William Raveis Real Estate, because this positive force 🌅 supports everything we do, and I bring that great energy along with all our resources to work for you! ❤️

If you are thinking of selling in the next 12 months, now is the time to start planning. Call me at 203.912.4440 or reach out using the form below.

← Back

Thank you for your response. ✨


by Leave a comment

SOLD and Accepted Offers in Fairfield Downtown and Westport Greens Farms, First Half of June 2021

Summer is heating up and June has started off with an up-tick in sales and new accepted offers in both downtown Fairfield and Greens Farms Westport during the first two weeks in June. The average days on market for the new listings with accepted offers has been just 17 to 20 days. Many of the homes have sold at or above the asking price.

Buyers have had to be creative and aggressive to win their prize. Most homes have been flying off the shelf, yet some… have not, despite this crazy market. You are right to arm yourself with an expert guide to help you put your strategy in place and ensure you reach your goal!

What has sold in these two hot spots? Where are the accepted offers during the first half of June? Check out the scoop below!

FAIRFIELD DOWNTOWN – Within a one-mile radius of the train.

There were 13 sales and eight more accepted offers in Fairfield’s downtown and beach areas during the first half of June from the 1st through the 15th. Sales were almost double the seven sales during the last two weeks of May, and accepted offers were up by two. The average days on the market for the new listings with accepted offers was just 17!

SOLD:

NEWLY ACCEPTED OFFERS:

WESTPORT Greens Farms

Two homes sold in the Greens Farms neighborhood during the first half of June compared to none during the previous two weeks.

SOLD:

There were four new accepted offers in Westport’s Greens Farms neighborhood during the first half of June after having none during the previous two weeks. The average market time for these listings was just 20 days!

NEWLY ACCEPTED OFFERS:

Call me if you are thinking of making a move, and we will have a 15 minute consultation to discuss your goals, the market, and whether I can help. —> 203.912.4440

← Back

Thank you for your response. ✨


by Leave a comment

How’s the Housing Market, June 2021? Is it Still Strong in Westport and Fairfield CT?

How’s the single-family housing market in Fairfield and Westport Connecticut at the end of May as we head into June? Take a look at the info below to see the comparison to last May, 2020, and take note of the opportunities. If we follow last year’s trend, we will see a spike in sales beginning in the next couple of weeks and extending through September!

If you would like access to our William Raveis Local Housing Data tool and run your own graphs like the ones below, just send me a note in the form below for the link! Here are the specifics. 

In WESTPORT

  • Single-Family Homes Sales are UP 52% from 31 to 47 homes sold.
  • The Median Sale Price is UP 46% from $1,085,000 to $1,582,000.
  • Inventory is DOWN 29% from 306 to 217 homes for sale.
  • Months of Supply is DOWN 61% from 10 months to 4.
  • Market Time is DOWN 41% from 90 to 53 days.

In FAIRFIELD

  • Single-Family Homes Sales are UP 3% from 72 to 74 homes sold.
  • The Median Sale Price is UP 22% from $662,500 to $807,500.
  • Inventory is DOWN 39% from 421 to 257 homes for sale.
  • Months of Supply is DOWN 62% from 7 months to 2.6!
  • Market Time is DOWN 56% from 107 to 56 days.

The trends of extremely low inventory, increasing median sale price, and short market time continues through May, though we are seeing more homes come on the market. The strong buyer demand in the face of this limited choice is still causing frequent multiple offer situations and pushing sale prices upward in both towns.

Opportunities are here for both buyers and sellers, but the market can unquestionably benefit from more home owners listing their properties for sale! The summer is heating up, and me may see another spike in June through September like last year, depending on whether people are still wanting to escape the City. Interest rates remain low, and buyers are still out looking for their perfect homes. If you have been wondering, yes, now is the time to sell!

If you would like to discuss how to buy and sell your home in the current market, you can create your own home search to check out the market, visit my website, give me a call, 203.912.4440, or send me a note below. I’m here to help!

← Back

Thank you for your response. ✨

 


by Leave a comment

SOLD and Accepted Offers in Fairfield Downtown and Westport Greens Farms, Last Half of May 2021

What has sold in these two hot spots? Where are the accepted offers during the second half of May?

More homes have been coming on the market and some are still getting frenzied offers. However, agents are seeing fallout after some bidding wars due to buyer regrets as well as some resistance to the high prices from buyers who are choosing to wait on the sidelines.

If you are going to sell now, I recommend you price your house to match recent sales and not over-shoot so that you attract the current buyers and don’t risk turning them away. Check out the scoop below!

FAIRFIELD DOWNTOWN – Within a one-mile radius of the train.

There have been seven sales and six more accepted offers in Fairfield’s downtown and beach areas during the last half of May from the 15th through the 31st.

SOLD:

NEWLY ACCEPTED OFFERS:

WESTPORT Greens Farms

SOLD:

There were no more sales or new accepted offers in Westport’s Greens Farms neighborhood during the second half of May. But there were seven new listings and, (Spoiler alert: two accepted offers on June 2, both under one million dollars.)!

NEWLY ACCEPTED OFFERS:

Please reach out to me if you are thinking of making a move, and let’s have a conversation! 203.912.4440

← Back

Thank you for your response. ✨


by 2 Comments

We Found Home Sweet Home by the Sea!

It has been a long road to find the right home in this very challenging market, but we prevailed.

We are closed!

Coming all the way from Texas to the east coast, Robin secured a rental in the Fairfield Beach area for herself, her two children, and her little chihuahua, about a year ago. They were just beginning to feel at home in the new community, when the pandemic hit.

Hunkering down at home as we all were, Robin prepared to renew her lease. However, upon seeing the spiking sale prices, the landlord changed his mind about renting, and told her they were selling the house as soon as possible, giving her only two months to vacate.

In a panic, Robin convinced them to give her a few more months and sent out a text to our neighborhood chat group asking if anyone knew of an available rental.

I reached out and offered to help. After talking with her, and learning what her ideal home would look like and how much she was planning to spend on rent, I suggested that she get pre-approved for a mortgage and put her hard earned money toward a purchase that would build equity for her. As the leader of a large software development group, she had no trouble securing a loan.

So the quest began! Loving the Fairfield beach area, and looking for charm, character, a light and bright feel with room the family and guests, we searched! At first there was almost nothing to look at, but then some homes began to trickle onto the market. Then we found a lovely home and put in an offer. We were faced with ~10 other buyers and were out-bid. We tried again. And again. And again! But the bidding wars were driving the prices out of range.

Unfortunately, the search was taking more time than she had. Her time was up at the current rental, but luckily she found a homeowner nearby that let her rent for three more months. So Robin packed up her entire three-bedroom home and two kids, moved a few blocks away, and unpacked again.

It seemed there was nothing that matched the wish-list for the right price… until we ventured over to the popular beachy neighborhood of Woodmont in Milford. Under construction was a beautiful, bright new home with four bedrooms and finished space on three floors. It even had treetop water views and two balconies! After much negotiation, we secured the home and closed last week.

After so much time being unsettled by a cross-country move, a pandemic, and two limited rentals, Robin had to pack up her family, furniture, and belongings, and move it all one more time. But this time, she can relax, decompress, and enjoy. Finally, a sweet new place by the shore to call home!

Please reach out to me anytime if you have real estate questions or would like to have a conversation about your plans.

← Back

Thank you for your response. ✨


by Leave a comment

SOLD and Accepted Offers in Fairfield Downtown and Westport Greens Farms, First Half of May 2021

What has sold in these two hot spots? Where are the accepted offers by mid-May? Check out the lists below!

FAIRFIELD DOWNTOWN – Within a one-mile radius of the train.

There have been five sales and 11 more accepted offers in Fairfield’s downtown and beach areas during the first half of the month, from May first through the 15th.

SOLD:

NEWLY ACCEPTED OFFERS:

WESTPORT Greens Farms

SOLD:

There were three more sales but no additional accepted offers in Westport’s Greens Farms neighborhood during the first half of May.

NEWLY ACCEPTED OFFERS:

Please reach out to me if you are thinking of making a move, and let’s have a conversation! 203.912.4440

← Back

Thank you for your response. ✨