Fairfield and Westport CT Real Estate Guide

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

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Fairfield and Westport CT Real Estate Market Report April 2025 🌱🏡

Image: Close-up of set table with bright garden centerpiece and beautifully decorated living room in the background.

HAPPY APRIL! 🌱

Word on the street- is that prices continued to rise in Fairfield and Westport! Here’s a summary of what happened in March in our local Fairfield and Westport single-family housing markets compared to a year ago in March 2024.

Check out the What Sold Reports to see all the homes that sold last month! Stay informed of new listings, price changes, local market insights, and mortgage rates.

March 2025
Market Changes in Favor of Buyers & Sellers


Was it still a seller’s market in March?

Yes, the seller’s market continued in March. The median sale price was up 40% in Westport and almost 30% in Fairfield compared to March 2024. The average market time was 38 days in Fairfield and 44 in Westport. New listings were down 9.4% in Fairfield and 4.8% in Westport allowing limited competition for sellers and limited choice for buyers. Selling prices, on average, exceeded asking prices. Unit sales were flat in Fairfield (data not shown) and up 13.3% in Westport, but pending listings were down in both towns suggesting a possible lull which could offer some opportunities for buyers.

At the time this post was written, the 30-year fixed conforming mortgage rate creeped back up to 7% adding to the headwinds for financing buyers. But rates in the high fives and sixes remained for other loan products.

Action Items.

Whether you are thinking of buying, selling, or both, it’s in your best interest to plan ahead by meeting with your agent early in your process. This will help you know what to expect in the current market and have a plan in mind.

Many sellers ask, when is the best time to sell? The answer is, when you are emotionally ready, your house is market-ready, and the time is right for you. There will always be pros and cons to the current market, and no one can accurately time it.

Pro Seller Tip: Remember not to under-estimate the sellers market though. It is still necessary to position your home to show its very best, which may include some staging, and price it appropriately with the market in order to sell for top dollar in the least amount of time.

Reach out to your agent proactively with your questions and desired outcomes so you’ll have a plan and timeline to get you where you want to go. Collaborate with your agent for the best marketing strategy and negotiations to maximize demand for your listing in the current market. If you’re concerned about where to go, consider this story. Here’s an overview of what you can expect for the process.

As a buyer in this market, be ready and be patient! Reach out to your agent proactively to go over the process, current forms, and a plan that meets your needs. Your agent will help you navigate the market for a successful sale and/or purchase. The competition for a particular property at the time it hits the market determines how much leverage you will have to negotiate price, timing, and terms. Competition continues among buyers and there is still a short window before most sellers receive and accept offers.

If you are ready to make an informed decision, you will be well positioned to secure your new home. This means you are prepared to submit a competitive offer and your proof of funds or mortgage pre-approval are in your agent’s hands. Keep in mind if you are in a multiple-bid situation with financing, you may be competing with cash offers. Talk to your agent about how you can make your offer more attractive in other ways. If you need to sell your house before buying, discuss your options with your agent. Here’s a guide for what you can expect.

April showers bring May flowers- and many new home sellers to the market. Will you be one of them who is positioned to extract top dollar in the least amount of time? 🌸 🏡 💫

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William Raveis Local Housing Data

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Fairfield and Westport CT Real Estate Market Report March 2025 🍀🏡

Image: Cheerful dining area with bright green lamp and pink tulips in the background.

HAPPY MARCH! 🍀

Word on the street is- the spring real estate market is here! So let’s get to it…

Here’s a summary of what happened in February in our local Fairfield and Westport single-family housing markets compared to a year ago in February 2024.

Check out the What Sold Reports to see all the homes that sold last month! Stay informed of new listings, price changes, local market insights, and mortgage rates.

Febuary 2025
Market Changes in Favor of Buyers & Sellers


Was it still a seller’s market in February?

Yep. The months of supply was lower, there were fewer new listings, and the median sale price was higher this February compared to last February in both towns. Unit sales were up, almost 70% in Fairfield and 33% in Westport. However, market time was longer in both towns, averaging 49 days to contract in Fairfield, and 53 in Westport. Sale prices averaged just under 100% of asking in Fairfield, and dipped to 97% from almost 107% in Westport. These factors showed a continued sellers’ market but indicate that not every home flew off the shelf with a bidding war. Despite the tight inventory, some homes sat on the market longer and sold below asking.

Action Items.

Whether you are buying or selling, plan accordingly so that you are ready to approach the market and know what to expect. Although new listings were down last month from the year prior, this was likely due to the bitter cold and snow mixed with the uncertainty in the news. Now that the weather will be warming up, (and some people are getting used to an atmosphere of chaos 😂), we expect to see more homes on the market each day as spring approaches. For now, sellers can continue to enjoy minimal competition.

As a seller, you are likely wondering, when is the best time to sell? The answer is, when you are emotionally ready, your house is market-ready, and the time is right for you. There will always be pros and cons in the marketplace, and no one can accurately time the market.

Reach out to your agent proactively with your questions and desired outcomes so you’ll have a plan and timeline to get you where you want to go. Collaborate with your agent for the best marketing strategy and negotiations to maximize demand for your listing in the current market. If you’re concerned about where to go, consider this story. Here’s an overview of what you can expect for the process.

As a buyer in this market, you want to be patient- and ready! Reach out to your agent proactively to go over the process, current forms, and a plan that meets your needs. Your agent will help you navigate the market for a successful sale and/or purchase. The demand at any given moment for a particular property determines whether there’s flexibility for you on price, timing, and terms. Competition continues among buyers and there is often a short window before sellers receive and accept offers.

If you are buying now, be ready to make an informed decision in order to secure your new home. This means you are ready to submit a competitive offer and your proof of funds or mortgage pre-approval are in your agent’s hands. Keep in mind if you are in a multiple-bid situation with financing, you may be competing with cash offers. Talk to your agent about how you can make your offer more attractive in other ways. If you need to sell your house before buying, discuss your options with your agent. Here’s a guide for what you can expect.

You won’t be pushed off-course by March madness or spring fever if you have a focused plan! 🙂 🌟🏡

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Thank you for your response. ✨

William Raveis Local Housing Data

#LuxuryHomes

#LuxuryLifestyle

#LuxuryRealEstate

#WilliamRaveisRealEstate

#WilliamRaveis

#RaveisSouthport

#WaterfrontLiving

#BeachHouse

#CoastalLiving

#DreamHome

#HomeSweetHome

#MyHomeisMyCastle

#FairfieldBeachArea

#MarketReport

#RealEstateMarket

#HousingPredictions

#MortgageRates


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Fairfield and Westport CT Real Estate Market Report February 2025 ❄️🏡

Image: Elegant kitchen leading to a bright great room in Fairfield, CT.

IT’S FEBRUARY! 🏈🏡

Word has it that the spring real estate market begins right after the Super Bowl! So let’s get to it… 💨

Here’s a summary of what happened in January in our local Fairfield and Westport single-family housing markets compared to a year ago in January 2024.

Check out the What Sold Reports to see all the homes that sold last month! Stay informed of new listings, price changes, local market insights, and mortgage rates.

January 2025
Market Changes in Favor of Buyers & Sellers


Was it still a seller’s market in January?

The New Year began with just two months of supply in Fairfield, and slightly more than that in Westport. Market time was even more brisk than the prior January, averaging just 36 days to contract in Fairfield and 19 in Westport. Sale prices hovered very close to 100% of asking. These factors showed a continued sellers’ market. Unit sales were down in both towns compared to January 2024, which may have helped some buyers.

Action Items.

Be ready to enact your plans because new listings are coming to the market each day, and this trend typically increases as spring approaches. For now, sellers can continue to enjoy minimal competition.

When’s the best time to sell? -When you are emotionally ready, your house is market-ready, and the time is right for you. Reach out to your agent proactively with your questions and desired outcomes so you’ll have a plan and timeline to get you where you want to go.

As a seller, collaborate with your agent for the best marketing strategy and negotiations to maximize demand for your listing in the current market. If you’re concerned about where to go, consider this story. Here’s an overview of what you can expect.

As a buyer in this market, you want to be patient- and ready! Reach out to your agent proactively to go over the process, current forms, and a plan that meets your needs. Your agent will help you navigate the market for a successful sale and/or purchase. The demand at any given moment for a particular property determines whether there’s flexibility for you on price, timing, and terms. Competition continues among buyers and there is often a short window before sellers receive and accept offers.

If you are buying now, be ready to make an informed decision in order to secure your new home. This means you are ready to submit a competitive offer and your proof of funds or mortgage pre-approval are in your agent’s hands. Keep in mind if you are in a multiple-bid situation with financing, you may be competing with cash offers. Talk to your agent about how you can make your offer more attractive in other ways. If you need to sell your house before buying, discuss your options with your agent. Here’s a guide for what you can expect.

Will this New Year bring your new home and lifestyle? Let’s talk! 🌟

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Thank you for your response. ✨

William Raveis Local Housing Data

#LuxuryHomes

#LuxuryLifestyle

#LuxuryRealEstate

#WilliamRaveisRealEstate

#WilliamRaveis

#RaveisSouthport

#WaterfrontLiving

#BeachHouse

#CoastalLiving

#DreamHome

#HomeSweetHome

#MyHomeisMyCastle

#FairfieldBeachArea

#MarketReport

#RealEstateMarket

#HousingPredictions

#MortgageRates


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Fairfield and Westport CT Real Estate Market Report January 2025 🌟🏡

Image: Stunning contemporary kitchen with vaulted ceiling and glass walls overlooking Pine Creek in Fairfield, CT.

Happy New Year! 📆🏡

Here’s a summary of what happened in December in our local Fairfield and Westport single-family housing markets compared to a year ago in December 2023.

Check out the What Sold Reports to see all the homes that sold in December! Stay informed of new listings, price changes, local market insights, and mortgage rates.

December 2024
Market Changes in Favor of Buyers & Sellers


Did the December market favor buyers or sellers?

The year ended with just two months of supply in Fairfield, and less than that in Westport. Market time was significantly shorter than the prior December, averaging just 33 days in Fairfield and 39 in Westport. Sale prices hovered very close to 100% of asking. These factors showed a continued sellers’ market. However, the buyers’ good news was a substantial rise in new listings in December 2024 compared to December 2023, up 37.5% in Westport, and almost double in Fairfield (87.5%)!

Action Items.

The market gained new listings throughout the holiday and into the New Year, maintaining opportunities for buyers. Yet pent-up demand for new listings remains, and sellers have a window of opportunity now to get into the market before their competition arrives in the spring. The top priority, of course, is what’s important to you and the ideal timing that suits your goals. Reach out to your agent as soon as possible with your questions and desired outcomes so we can work together on a plan to get you where you want to go.

As a seller, collaborate with your agent for the best marketing strategy and negotiations to maximize demand for your listing in the current market. If you’re concerned about where to go, consider this story. Here’s an overview of what you can expect.

As a buyer in this market, you want to be patient- and ready! Reach out to your agent proactively to go over the process, current forms, and a plan that meets your needs. Your agent will help you navigate the market for a successful sale and/or purchase. The demand at any given moment for a particular property determines whether there’s flexibility for you on price, timing, and terms. Overall, competition continues among buyers and there is often a short window before sellers receive and accept offers.

If you are buying now, you want to be prepared to make an informed decision in order to secure your new home. This means you are ready to submit a competitive offer and your proof of funds or mortgage pre-approval are in your agent’s hands. Keep in mind if you are financing and enter a multiple-bid situation, you may be competing with cash offers, so you need to make your offer more attractive and competitive in other ways. Here’s a guide for what you can expect.

If you need to sell your house before buying, let’s discuss the options.

Is 2025 the year for your new home and lifestyle? Let’s talk!

Review last month’s market report here.

Keep track of your home’s value estimate in our ever-changing environment.

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Thank you for your response. ✨

William Raveis Local Housing Data

#LuxuryHomes

#LuxuryLifestyle

#LuxuryRealEstate

#WilliamRaveisRealEstate

#WilliamRaveis

#RaveisSouthport

#WaterfrontLiving

#BeachHouse

#CoastalLiving

#DreamHome

#HomeSweetHome

#MyHomeisMyCastle

#FairfieldBeachArea

#MarketReport

#RealEstateMarket

#HousingPredictions

#MortgageRates


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Fairfield and Westport CT Real Estate Market Report December 2024 🎁🏡

Image: Elegant off-white side-board table and a round mirror above reflecting a bright, festive starburst light fixture.

Happy Holidays! 🎁🏡

I hope you’re enjoying the holiday season as you look forward to what’s next in local real estate markets. Here’s a summary of what happened in November in our local Fairfield and Westport single-family housing markets compared to a year ago in November 2023. Check out the What Sold Reports to see all the homes that sold in November! Register here to stay informed on new listings, price changes, local market insights, and mortgage rates.

November 2024
Market Changes in Favor of Buyers & Sellers

Did the November market favor buyers or sellers?

In both towns, the median sale price was higher, market time was shorter, and the number of new listings were down compared to last November. These factors continued to favor sellers, though the inventory and months of supply was higher in Fairfield this year than last year, offering some renewed opportunity to buyers. More demand than supply sustained the trend of upward pressure on home prices.

What about interest rates?

According to global economist, Dr. Marci Rossel in a webinar on December 6th from Leading Real Estate Companies of the World, rates are likely to be stuck in the six percent range until as late as April or May next year. She said that we likely won’t know where rates are going until we see what happens with proposed tariffs and deportation which will impact the cost of goods, and the labor market. However, there are several loan products in the five-percent range offered by William Raveis Mortgage at the time of this post.

So, should I move now, or wait a couple of years until conditions are better?

When prices and rates seem to be at an all-time high, it can be tough to decide on a strategy. Two value propositions people often forget to consider are the joy of starting their coveted new lifestyle sooner rather than later and the benefit of getting a jump-start on building equity.

That being said, what might the actual numbers look like if you closed today and refinanced in two years versus waiting two years to make your move? Take a look at a scenario where you buy a home today for $900,000 with 20% down and an interest rate of 6.375% vs. another buyer who waited two years. Based on an estimated average home value appreciation of 3.5% over the next 12 months based on several expert economists in a chart provided by PalmAgent, you may be surprised by the comparison!

Action Items.

We also know that every market offers opportunities. People have been buying and selling homes every month of every year since ‘real estate’ began. What’s important are your goals and the ideal timing for you. Reach out to your agent as soon as possible with your questions, concerns, and ideal outcomes so you can work together on a plan to get you where you want to go in the existing market.

As a seller, collaborate with your agent for the best marketing strategy and negotiations to maximize demand for your listing in the current market. If you’re concerned about where to go, consider this. Here’s an overview of what you can expect.

As a buyer in this market, preparedness and patience are the key! Your agent will help you navigate the market for a successful sale and/or purchase. The current demand for a particular property will determine whether there’s flexibility on price and terms. In general, there is still solid competition among buyers and a short window before sellers receive and accept offers. However, you may be have some holiday leverage right now if a seller is motivated to close before the year ends and willing to make a deal! 🎁

If you are buying now, you must be ready to make an informed decision in order to secure your new home. This means you are ready to submit a competitive offer and your proof of funds or mortgage pre-approval are in your agent’s hands! Keep in mind if you are financing and enter a multiple-bid situation, you may be competing with cash offers, so you may need to have other terms that are attractive in order to be more competitive. Here’s a guide for what you can expect.

Are you planning a move this season? What dreams do you have for your newest lifestyle?

To review last month’s market report here.

Get a quick online estimate of your home’s value.

← Back

Thank you for your response. ✨

William Raveis Local Housing Data

#LuxuryHomes

#LuxuryLifestyle

#LuxuryRealEstate

#WilliamRaveisRealEstate

#WilliamRaveis

#RaveisSouthport

#WaterfrontLiving

#BeachHouse

#CoastalLiving

#DreamHome

#HomeSweetHome

#MyHomeisMyCastle

#FairfieldBeachArea

#MarketReport

#RealEstateMarket

#HousingPredictions

#MortgageRates


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Fairfield and Westport Real CT Estate Market Report November 2024 🦃

Image: Elegant wood breakfast bar with metallic lamp

Looking to Forward to Warm November Gatherings and Beyond! 🦃🏡

As we anticipate the upcoming holidays and what’s next in local real estate, here’s what happened in October in our local Fairfield and Westport single-family housing markets compared to one year ago. If you want the exact details, check out the What Sold Reports.

October 2024

PRICE: Median Price Down. Homes Sold an Average of 102-103% of Ask.

  • Single-family sale prices averaged 103 percent of asking in Fairfield and 102 percent in Westport.
  • The median sale price in Fairfield was $828,000, down 4.8 percent from October 2023. The median sale price per square foot was also down slightly from a year ago, to $388. In Westport, the median sale price was $1,550,000, down 31.1% from last October. The median sale price per square foot was down 6.9% from the same time last year, to $577.

PACE: Shorter Average Market Time. Unit Sales Down. Hovering Around 3 Months of Supply

  • Market time was down more than 30% from than last October, averaging just 24 days to contract in Fairfield and 28 days in Westport.
  • Unit sales in Fairfield totaled 41, DOWN 6.8% from October 2023, and 23 in Westport, DOWN 8% compared to last year.
  • Inventory in Fairfield was up 23.4% from last October with 153 single-family homes for sale and down 16.1% in Westport with 78 homes for sale.
  • The months of supply metric remained in the low three-month range with levels of 3.34 and 3.21 months in Fairfield and Westport respectively. The inventory trend favoring sellers continued.

What does it mean?

The market slow down was not surprising given the longterm trend (since 1963!) of a seasonal drop in sales during October and November that’s even sharper during election years.


Yet on average, homes that sold went quickly and for above the asking price. Affordability pressures and mortgage rates, that headed north of seven percent despite anticipated cuts, likely encouraged more sales in lower price points and cash purchases. In fact, 27% of the sales in Fairfield and 43% in Westport were cash deals. The short market time demonstrated the high demand from buyers who were well-prepared and ready to commit to making competitive offers.

What can we expect going forward? History tells us that the real estate market picks up after election uncertainty has passed. Keeping Current Matters said that home sales went up after 9 of the last 11 presidential elections, referencing HUD and NAR.


What we do know is that demand continues to out-pace housing supply. There is additional pent-up demand from both buyers and sellers who have been waiting on the sidelines for changing interest rates and election results. Increased sales activity is in the 2025 forecast below.


These trends are national, and we know that real estate markets are hyper-local. No one knows for sure, but here is what AI has to say! What do you foresee? (Share your thoughts below).

Action Items.

We also know that every market offers opportunities. People have been buying and selling homes every month of every year since ‘real estate’ began. What’s important are your goals and the ideal timing for you. Reach out to your agent as soon as possible with your questions, concerns, and ideal outcomes so you can work together on a plan to get you where you want to go in the existing market.

As a seller, collaborate with your agent for the best marketing strategy and negotiations to maximize demand for your listing in the current market. If you’re concerned about where to go, consider this. Here’s an overview of what you can expect.

As a buyer in this market, preparedness and patience are the key! Your agent will help you navigate the market for a successful sale and/or purchase. Depending on the demand at any given moment for a particular property, there may or may not be flexibility on price and terms. There is still solid competition among buyers and a short window before most sellers receive and accept offers. However, there is a window right now heading into the holidays, where buyers may catch a break in leverage. As a buyer, you may be have a little more room for negotiation right now if a seller is motivated to close before the year ends and willing to make a deal!

You need to be ready to make an informed decision if you plan to secure your new home. This means you are ready to submit a competitive offer and your proof of funds or mortgage pre-approval are in your agent’s hands! Keep in mind if you are financing and enter a multiple-bid situation, you may be competing with cash offers, so you may need to have other terms that are attractive in order to be more competitive. Here’s a guide for what you can expect.

Are you planning a move this season? What dreams do you have for your newest lifestyle?

William Raveis Local Housing Data

FAIRFIELD SINGLE-FAMILY – OCTOBER 2024


WESTPORT SINGLE-FAMILY – OCTOBER 2024


To review last month’s market report.

Get a quick online estimate of your home’s value.

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Thank you for your response. ✨

William Raveis Local Housing Data

#LuxuryHomes

#LuxuryLifestyle

#LuxuryRealEstate

#WilliamRaveisRealEstate

#WilliamRaveis

#RaveisSouthport

#WaterfrontLiving

#BeachHouse

#CoastalLiving

#DreamHome

#HomeSweetHome

#MyHomeisMyCastle

#FairfieldBeachArea

#MarketReport

#RealEstateMarket

#HousingPredictions

#MortgageRates


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Fairfield and Westport Real Estate Market Report October 2024 🎃

Image: Blazing outdoor fireplace at 115 Lalley Blvd, Fairfield CT


October Chill is in the Air! 🎃🏡

Here’s what happened in September in our local Fairfield and Westport single-family housing markets. If you want the exact details, check out the What Sold Reports.

In September 2024–

Prices: Median Prices Varied By Town. Homes Sold for 100% or More On Average with a Wide Range

  • Single-family home sale prices averaged 100 percent of asking in Fairfield and 103 percent in Westport. There was a wide range of 84 to 111 percent in Fairfield and 91 to 125 percent in Westport.
  • The median sale price in Fairfield was $772,500, down 8 percent from September 2023. The median sale price per square foot was also down slightly from a year ago to $388. In Westport, the median sale price was $2,054,000, down 12.6% from a year ago. However, the median sale price per square foot was up 4.7% from last September, to $518.

Pace: Short Average Market Time. Unit Sales Up. Less than 4 Months Supply, Inventory Increased.

  • Market time averaged 27 days in Fairfield and 34 days in Westport which was more than 40 percent shorter than September 2023.
  • Unit sales in Fairfield totaled 46, UP 24.3% from September 2023, and 24 in Westport, UP 41.2% compared to last September.
  • Inventory in Fairfield was UP 43.6% from last September with 168 single-family homes for sale and DOWN 9.9% in Westport with 91 homes for sale.
  • The months of supply metric was UP 55.3% in Fairfield and slightly down in Westport compared to September 2023, with levels of 3.66 and 3.73 months respectively. This range still leaned towards a seller’s market and was below a balanced market with six months of supply.

What does it mean?

The sales volume and market time picked up compared to last September. The supply of inventory was about 3.7 months in both towns pointing to a continued seller’s market, but with a shift closer to more balance. Homes sold on average at full price or more but also spanned a wide range of well below- and well above the asking price. Market time overall was quick, averaging about one month to contract, but there was a wide range here too, with some homes selling quickly, some lingering, and some having price reductions.

There are numerous factors at play with expected interest rate reductions and economic factors, not to mention the election! What we do know is that there is still more demand than there is supply. What can we expect going forward? No one knows for sure, but here is what AI has to say! What do you predict? (Share your comment below).

Bottom line.

If now is a good time for you to pursue a new lifestyle, the current market always offers opportunities. Reach out to me anytime with your questions about the market and to discuss your plans.

When you are selling, your agent will guide you on the marketing strategy and negotiations to maximize the demand for your listing in the current market. If you’re concerned about where you can go, consider this. Here’s an overview of what you can expect.

If you plan to buy in this market, patience and preparedness will work in your favor! Your agent’s expert guidance will help you navigate this market for a successful sale or purchase. There may or may not be some flexibility with timing and price. It is on a house-by-house basis. There is still a predominance of solid competition and a short window before sellers receive and accept offers. It depends on how much competition exists for a particular home at the moment you want to pursue it. You need to be ready to make an informed decision if you really want to secure your new home. This means you are ready to submit a competitive offer, so your mortgage pre-approval or proof of funds should be in your agent’s hands! Keep in mind if you will be financing and enter a multiple-bid situation, you may be competing with cash offers, so you will need other attractive terms to be competitive. Here’s a guide for what you can expect.

What are your thoughts about the market and interest rates? Are you planning a move this fall? What new lifestyle dreams are you focused on? Share your thoughts in the blog comments or send me a note below.

William Raveis Local Housing Data

FAIRFIELD SINGLE-FAMILY – JULY 2024


WESTPORT SINGLE-FAMILY – JUNE 2024


To review last month’s market report.

Want a quick online home estimate?

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William Raveis Local Housing Data


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Fairfield and Westport Real Estate Market Report September 2024 🪻

Photo of twilight pool with fountains and firebowls at 155 Lalley Blvd, Fairfield CT. Text overlay" Hello September, what happened in August, and castle logo for Realtor, Linda Raymond
Image: Twilight pool at 115 Lalley Blvd, Fairfield CT


September is in Full Swing! 🪻🏡

As we dive into ‘back to school’ mode, here’s a look at what happened at the end of summer in our local Fairfield and Westport single-family housing markets. If you’re curious which homes sold, take a look at the What Sold Reports.

Here’s what happened in August 2024.

Prices: Up in Both Towns Compared to August 2023. Homes Sold At or Above Asking On Average

  • Single-family home sale prices averaged 103 percent of asking in Fairfield and 102 percent in Westport.
  • The median sale price in Fairfield was $1,150,000, UP 23.7% compared to August 2023. The median sale price per square foot was UP 6.8% from a year ago to $448. In Westport, the median sale price was $2,450,000, UP 41.6% from a year ago, although there was a distinct dip in the median sale price during August 2023. The median sale price per square foot was $517, which was up slightly (1.7%) from last August.

Pace: Short Average Market Time, But Some Homes Lingered. Unit Sales Down. < 4 Months Supply, But Inventory Increased.

  • Market time averaged 23 days in Fairfield and60 days in Westport. Market time ranged from two days to 349 days, so the average contains a broad range.
  • Unit sales in Fairfield totaled 58, DOWN 21.6% from August 2023, and 37 in Westport, DOWN 7.5% compared to last August. Inventory in Fairfield was UP 12.8% from last August with 141 single-family homes for sale and UP 4.7% in Westport with 89 homes for sale.
  • The months of supply metric was UP 28.9% in Fairfield and 26.4% in Westport compared to August 2023, with levels of 3.13 and 3.75 months respectively. Though still below a balanced market with six months of supply, inventory levels did rise in both towns. Within the previous seven days of this post, there were 49 New and Coming Soon Single-Family MLS listings in Fairfield and Westport combined, almost double that of last month.

What does it mean?

The market volume was slower than last August, but the seller’s market continued with low inventory, high prices, and short market times. Some homes sold for full price or more than asking, and some sold for less. Many homes sold quickly, but some lingered on the market and required price reductions. There was also seasonal slowing due to vacations and back-to-school preparations. But now that we are in ‘back to school mode’, it’s expected that people will be focused on the inventory that we are seeing increase, lower interest rates, with jumbo loans in the 5s, and increased activity due to all the pent up demand!

Bottom line.

If now is a good time for you to pursue a new lifestyle, the current market always offers opportunities. Reach out to me anytime with your questions about the market and to discuss your plans.

When you are selling, your agent will guide you on the marketing strategy and negotiations to maximize the demand for your listing in the current market. If you’re concerned about where you can go, consider this. Here’s an overview of what you can expect.

If you plan to buy in this market, patience and preparedness will work in your favor! Your agent’s expert guidance will help you navigate this market for a successful sale or purchase. There may or may not be some flexibility with timing and price. It is on a house-by-house basis. There is still a predominance of solid competition and a short window before sellers receive and accept offers. It depends on how much competition exists for a particular home at the moment you want to pursue it. You need to be ready to make an informed decision if you really want to secure your new home. This means you are ready to submit a competitive offer, so your mortgage pre-approval or proof of funds should be in your agent’s hands! Keep in mind if you will be financing and enter a multiple-bid situation, you may be competing with cash offers, so you will need other attractive terms to be competitive. Here’s a guide for what you can expect.

What are your thoughts about the market and interest rates? Are you planning a move this fall? What new lifestyle dreams are you focused on? Share your thoughts in the blog comments or send me a note below.

William Raveis Local Housing Data

FAIRFIELD SINGLE-FAMILY – JULY 2024


WESTPORT SINGLE-FAMILY – JUNE 2024


To review last month’s market report.

Want a quick online home estimate?

← Back

Thank you for your response. ✨

William Raveis Local Housing Data


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Fairfield and Westport Real Estate Market Report August 2024 🌻


August is Almost Gone! 🌻

Here’s a quick look at what happened last month in our local Fairfield and Westport single-family markets. If you’re curious which homes sold, take a look at the What Sold Reports.

Here’s what happened in July 2024.

Prices: Varied in July. Homes still sold at or above asking on average

  • Single-family home sale prices averaged 101 percent of asking in Fairfield and 103 percent in Westport.
  • The median sale price in Fairfield was $1,175,000, UP 7.4% compared to July 2023. The median sale price per square foot was down 1.2% from a year ago to $422. This was likely due to more larger homes selling. In Westport, the median sale price was $2,000,000, down slightly (1.4%) from a year ago. The median sale price per square foot was $528, which was UP 10.7% from last July.

Pace: Short market time on average, some homes sitting, low unit sales, 3-4 months of supply.

  • Market time averaged a brisk 20 days in Fairfield and 25 days in Westport pointing to more cash deals. Market time ranged from one day to 101 days.
  • Unit sales in Fairfield totaled 71, UP 26.8% from July 2023, and 33 in Westport, DOWN 34% compared to last July. Unit sales are still well below pre-pandemic levels. Inventory in Fairfield was UP 5.1% from last July with 104 single-family homes for sale and UP 11.7% in Westport with 162 homes for sale.
  • The months of supply metric was UP 25.8% in Fairfield and 28.8% in Westport compared to July 2023, with levels of 3.50 and 4.33 months respectively, though still well below a balanced market with six months of supply. Within the previous seven days of this post, there were 26 New and Coming Soon MLS listings in Fairfield and Westport combined.

What does it mean?

The sellers market continued in July with ongoing low inventory and short market times. Some homes sold for full price or more than asking, and some sold for less. Many homes sold quickly, but some sat on the market longer and required price reductions. As the end of summer approached, there was some seasonal slowing due to vacations and back-to-school preparations. Some would-be buyers and sellers also paused while anticipating a rate cut. But some people kept their focus on moving forward with their plans.

Bottom line.

If now is a good time for you to pursue a new lifestyle, the current market always offers opportunities. Reach out to me anytime with your questions about the market and to discuss your plans.

When you are selling, your agent will guide you on the marketing strategy and negotiations to maximize the demand for your listing in the current market. If you’re concerned about where you can go, consider this. Here’s an overview of what you can expect.

If you plan to buy in this market, patience and preparedness will work in your favor! Your agent’s expert guidance will help you navigate this market for a successful sale or purchase. There may or may not be some flexibility with timing and price. It is on a house-by-house basis. There is still a predominance of solid competition and a short window before sellers receive and accept offers. It depends on how much competition exists for a particular home at the moment you want to pursue it. You need to be ready to make an informed decision if you really want to secure your new home. This means you are ready to submit a competitive offer, so your mortgage pre-approval or proof of funds should be in your agent’s hands! Keep in mind if you will be financing and enter a multiple-bid situation, you may be competing with cash offers, so you will need other attractive terms to be competitive. Here’s a guide for what you can expect.

What are your thoughts about the market and interest rates? Are you planning a move this fall? What new lifestyle dreams are you focused on? Share your thoughts in the blog comments or send me a note below.

William Raveis Local Housing Data

FAIRFIELD SINGLE-FAMILY – JULY 2024


WESTPORT SINGLE-FAMILY – JULY 2024


To review last month’s market report.

Want a quick online home estimate?

← Back

Thank you for your response. ✨

William Raveis Local Housing Data


by Leave a comment

Fairfield and Westport Real Estate Market Report July 2024 🇺🇸🏡


Hello July! 🌺

Here’s a quick look at what happened last month in our local Fairfield and Westport markets. If you’re curious which homes sold, take a look at the What Sold Reports.

Here’s what happened in June 2024.

Prices: Up about 10 percent from last June, homes sold above list price on average.

  • Single-family home sale prices averaged 105 percent of asking in Fairfield and 103 percent in Westport.
  • The median sale price in Fairfield was $947,883, UP 10.2% compared to June 2023 and up from May as is seasonally expected. The median sale price per square foot was UP .8% from a year ago to $389, but was lower than last month. In Westport, the median sale price was $2,325,000, UP 10.7% from a year ago and also up from last month. The median sale price per square foot was $522, which was UP slightly (1.5%) from last June.

Pace: Short market time on average, some homes sitting, fewer sales, 3-4 months of supply.

  • Days on market averaged a brisk 19 in Fairfield and 29 in Westport pointing to a significant amount of cash deals. Of note though, is that the days on market ranged from one to 184! In Fairfield, 24% of the homes were purchased with cash, and 47% of the Westport sales were cash deals.
  • Unit sales in Fairfield totaled 65, down 8.5% from June 2023, and 30 in Westport, down 38.8% compared to last June. Inventory in Fairfield was the same as in June 2023 with 150 single-family homes for sale and down 6.8% in Westport with 96 homes for sale.
  • The months of supply metric was UP 22% in Fairfield and 6.6% in Westport compared to June 2023, with levels of 3.33 and 3.78 months respectively. Within the previous seven days of this post, there were 41 New and Coming Soon MLS listings in Fairfield and Westport combined.

What does it mean?

Continued low inventory and short market time favored sellers. There were still multiple-offer situations, but these were on a case-by-case basis. Some homes sold for full price or more than asking, and some sold for less.

Bottom line.

If now is a good time for you to pursue a new lifestyle, the current market always offers opportunities. In some cases, there is more balance than before, but we are still in a seller’s market due to low inventory. When buying, patience and interest rates, now in the 6s, can work in your favor! Your agent’s expert guidance will help you navigate this market for a successful sale or purchase. Reach out to me anytime with your questions about the market and to discuss your plans.

When you are selling, your agent will guide you on the marketing strategy and negotiations to maximize the demand for your listing in the current market. If you’re concerned about where you can go, consider this. Here’s an overview of what you can expect.

If you plan to buy in this market, there may or may not be some flexibility with timing and price. It is on a house-by-house basis. There is still a predominance of solid competition and a short window before sellers receive and accept offers. It all depends on how much competition exists for a particular home at the point in time when you want to pursue it. You will need to be ready to make an informed decision if you really want to get your new home. This means you have everything ready to submit a competitive offer, especially your mortgage pre-approval or proof of funds in your agent’s hands! Keep in mind that if you will be financing and enter a multiple-bid situation, 24 to 47 percent of the competing buyers may be offering cash, so you will have to compensate with other attractive terms. Here’s a guide for what you can expect.

What are your thoughts about the market and interest rates? Would you love to be in a new home this summer? 🍉 What new lifestyle objectives you are focused on? Share your thoughts in the blog comments or send me a note below.

William Raveis Local Housing Data

FAIRFIELD SINGLE-FAMILY – JUNE 2024


WESTPORT SINGLE-FAMILY – JUNE 2024


To review last month’s market report.

Want a quick online home estimate?

← Back

Thank you for your response. ✨

William Raveis Local Housing Data