How did August and September 2020 compare to 2019 in these towns? What were the top three selling price categories, and how much is currently for sale in these ranges? Watch the video below and get the scoop!
Feel free to reach out to me any time using the form below or give me a call at 203.912.4440 if you have any real estate questions.
My listing meeting at the lovely home on the Pine Creek waterway was scheduled for next week. I had met with the homeowners, completed my market analysis, and created a comprehensive custom marketing plan that included professional photos, aerial views, and twilight views. But I needed a nice photo to use in my presentation materials, and as always, I set out to take my picture.
The home was gorgeous from every vantage point, but the money shot had to combine the dramatic walls of glass facing the water, the fabulous dock, and of course, the water views!
I could not capture everything in one view from the edge of the property. But there was a ramp extending into the water just next to the property that I set out towards to capture my shot. Here’s what happened.
Here’s what my client had to say-
That’s my story with a happy ending! Here’s a little more info about this property.
Fairfield Beach Road
There are no active listings available on Pine Creek Ave or Old Dam Road.
What About Accepted Offers?
Interestingly, compared to last year, the same sales activity occurred during this timeframe. Five homes sold and two condos sold, one condo on Fairfield Road, and one on Pine Creek Avenue. However, the sale prices for the single-family beach houses were quite a bit lower, ranging from $700,000 to $1,750,000 last year, mid-August to mid-October.
So the word on the street is that air may be getting cooler, but the waterfront market remains quite warm! Who is ready to take a dip? 🙂
If you have any questions about this market and what it can mean for you, please reach out to me at 203.912.4440, Linda.Raymond@raveis.com , or using the form below. I’m here to help!
After an exhaustive home search, my clients finally came upon the historic home of their dreams in Rowayton and put in an offer. But the pandemic effect was strong and so was the buyer competition.
We closed many weeks earlier on the sale of their home in Southport and had been targeting a new home in Darien. We sold their home to capture the sellers market and hoped to find their new home shortly thereafter. Searching for a special antique home with character and history, it took longer than expected, so they hunkered down in a hotel as their temporary residence and put their furnishings in storage while focusing on the hunt.
However, after losing a home they loved to multiple offers, nothing seemed to stack up to the benchmark my clients now had in their minds. Or nothing lasted on the market long enough for them to see with their busy work schedules. Or nothing matched the price they felt it was worth. After months of looking in Darien, we tried a new focus on Greenwich… and then Rowayton.
It turns out that this was the special day when the one-of-a-kind gem they had been searching for was found, AND their offer was accepted. After touring dozens of homes across three towns, this historic antique near the Long Island Sound, previously a sea captain’s home, was about to begin a new chapter. This vintage home was number 62 of their home search, but for them, it was new and exciting, and number one!
Thinking of buying or selling in the area? Set up your own MLS search here. Call me today 203-912-4440, or send a note in the form below. We will have a brief consultation about your goals, the market, and if I can help.
Take the Pop Quiz about the local single-family housing markets at the end of the summer in Westport and Fairfield. Then check your answers below and watch my video that explains the numbers also spotlights our October opportunities!
Westport
1. What was the top selling price range in August and September?
A. $1.4 m – $1.5 m
B. $1.5 m – $1.6 m
C. $2 m – $2.249 m
2. Which price range currently offers the most listings for sale?
A. $1.1 m – $1.2 m
B. $2.5 m – $3.5 m
C. $5 m – $10 m
Fairfield
3. What was the top selling price range in August and September?
A. $500K – $550K
B. $600K – $650K (3rd place)
C. $700K – $750K (2nd place)
4. Which price range currently offers the most listings for sale?
A. $400K – $500K = 22 active listings
B. $750 – 850K (17 homes for sale)
C. $1.1 m – $1.3 m (13 homes for sale)
ANSWERS
Westport
1. A (followed by B & C)
2. B (with 36, C with 16, and A with 10 homes for sale)
Fairfield
3. A (followed by C & B)
4. A (with 22, B with 17, C with 13 homes for sale)
SmartMLS 10/9/2020
Please share your comments or questions below, and I will respond within one day.
Relax and enjoy some calm shoreline beauty to soothe your soul.
Since now is a time of stress for many, I wanted to share my three favorite videos of beach properties that are serene and beautiful to watch. So click on an image to start the video, sit back, and let them take you away. Enjoy!
Twilight tour on the creek…
Glide through this stunning antique home on the creek side of Fairfield Beach Road as dusk approaches.
Soar over the Long Island Sound…
Soak in the beauty of this beachfront and creekside home with jetty views.
A peek at the peninsula…
Soar over and through this delightful home on the peninsula of Fairfield Beach Road.
Feel free to reach out to me with any questions or comments using the form below, and I will respond quickly.
Fairfield Beach Road
Pine Creek Ave
Old Dam Road
What About Accepted Offers?
There have been nine sales so far this year through August 15 compared to 14 last year during this timeframe, however the five accepted offers should catch us up. One improvement we have seen this year is the beach homes selling closer to the asking price. On average the nine sales this year closed at 96 percent of the asking price compared to 94% last year.
Still, this year’s beach market has been a bit slow compared to other blazing markets driven by the pandemic. For example, in the entire Fairfield Beach Area (including homes closer to town), there were 95 sales year to date that sold for an average of 97 percent of asking compared to 78 sales YTD in 2019 selling on average for 96 percent of asking.
So the word on the street is that we may be in the dog days of summer at the beachfront, but the market overall is still hot!
If you have any questions about this market and what it can mean for you, please reach out to me at 203.912.4440, Linda.Raymond@raveis.com , or using the form below. I’m here to help!
Fairfield Beach Road
Pine Creek Ave
Old Dam Road
What About Accepted Offers?
Sales activity on the waterfront this year has some catching up to do to match 2019 activity. Last year there were seven sales in February through May with sale prices ranging from $980,000 on Old Dam Road to $2,455,000 for (my listing), a large home on the beach with a creekside garage and finished space above it. The late start of this year’s beach market is not surprising given the onset of the pandemic. However, the real estate market overall has seen an influx of activity from low interest rates and swarms of people leaving New York City, so the word on the street is that ‘summer is the new spring‘, and many anticipate a busy beach market ahead!
If you would like to discuss the value of your property in this market and how I would market it for you, please contact me at 203.912.4440, Linda.Raymond@raveis.com , or using the form below.
It’s a very dynamic time right now in real estate and a great time for anyone interested to jump into the action. Here are five things you should know.
Look at the difference in the number of homes for sale in Fairfield and Westport in May compared to May of 2019! The marketplace is in need of more homes for sale. This creates a huge opportunity for sellers!
Although there has been daily fluctuation in interest rates, they have remained extremely attractive. In fact, this week the rate for a conforming loan up to $510,400 has dipped to 2.85% for purchasers with high credit scores and a twenty percent downpayment. So there’s an excellent opportunity for buyers to finance a purchase at an amazingly low rate. This is great news for sellers as well because these low rates make their homes more affordable! Click the image from your phone and download the mortgage app!
The real estate marketplace is very busy right now for a few key reasons. Realtors and everyone else in the industry have adapted to working in safe mode, there is pent up demand from the initial pandemic slowdown, and it’s a great time to buy and sell! If you are thinking of buying a home and want to take advantage of the low interest rates and increased home affordability, reach out to me so I can help you get that perfect new home. Sellers, take note of the sample prep list above and the new Raveis Refresh program that’s here to help you with it. Reach out to me, and I will help you to make the process seamless!
Quick Video explaining Raveis Refresh
If you have thought about selling but feel overwhelmed by what needs to happen to get your house ready, fear not! Raveis Refresh is a new service that is here to provide you with nearly anything you need, from help packing, to staging, painting, kitchen or bathroom renovations, and repairs, small to large. The cost is completely deferred until closing, so no worries about that either.
So there are exciting opportunities for everyone right now, and you can even boost the economy when you make a move to help yourself. Reach out to me anytime so I can help you with your next steps.
Fairfield Beach Road
Pine Creek Ave
Old Dam Road
Source: SmartMLS Updated 2/12/2020
The 2019 waterfront market enjoyed a higher median sale price of $1,527,500 compared to $1,460,000 in 2018. Twenty single-family homes sold in both 2019 and 2018, and there was one condominium sale in 2018 and two in 2019. As we begin 2020 with low interest rates, a nice selection of active beach listings, and one home already under contract, I’m optimistic for a great year ahead. If you would like to discuss the value of your property in this market and how I would market it for you, please contact me at 203.912.4440, Linda.Raymond@raveis.com , or using the form below.
Fairfield and Westport CT Real Estate Guide 