Despite all the obstacles from this pandemic, you may very much want to make a move to a home that is better suited to your current needs and desired lifestyle. Like so many others, you want the right amount of space for privacy, focus, relaxation, and recreation. Problem is, you’re worried about the monumental stress of actually making it happen, and this is completely understandable.
For most of the population, real estate transactions are the biggest and most difficult financial endeavors 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 the top things to know about the Fairfield real estate market right now:
Looking at the market activity in August… The Westport and Fairfield town-wide sales pace in August showed an up-tick from the previous month of July, and was also up from unit sales in August 2019, despite a dip in numbers compared to the Covid spike in 2020. This is likely due to many people taking advantage of vacation opportunities in July. The local housing markets continued with strong sales and high prices in both Downtown Fairfield and Greens Farms Westport during August.
If you are like many others who want to sell but are still on the fence, September will continue to offer an excellent window to make your move. Interest rates and inventory are still low, and buyer demand is still strong. Rates may creep up heading into fall! You are right to arm yourself with an expert guide to help you put your strategy in place to 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 in August? Check out the scoop below!
FAIRFIELD DOWNTOWN – Within a one-mile radius of the train.
There were 21 closings in August compared to 25 in July and 10 new accepted offers in Fairfield’s downtown and beach area at the time this post was written.
SOLD:
NEWLY ACCEPTED OFFERS:
Take a look at the Fairfield town-wide stats from the William Raveis Local Housing Data. Send me a note below if you would like the link to add the LHD shortcut to your phone!
WESTPORT Greens Farms
There were 10 sales in August compared to seven in July. There was one new accepted offer in Westport’s Greens Farms neighborhood in August, and a few more had just gone to contract.
SOLD:
NEWLY ACCEPTED OFFERS:
Take a look at the Westport town-wide stats from the William Raveis Local Housing Data. Send me a note below if you would like the link to add the LHD shortcut to your phone!
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
July numbers are in, and opportunity still knocks!
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 ideal new home for your next chapter.
But 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 move into August?
Take a look at the stats below showing how the stats in July 2021 compare to July 2020.
In WESTPORT
Single-Family HomesSales are DOWN 28.1.5% from 96 to 69 homes sold.
The Median Sale Price is UP 19% from $1,294,500 to $1,540,000.
Inventory is DOWN 18.4% from 244 to 199 homes for sale.
Months of Supply is DOWN 44.9% from 6 months to 3.51.
Market Time is DOWN 41.1% from 73 to 43 days.
In FAIRFIELD
Single-Family HomesSales are DOWN 34.7% from 147 to 96 homes sold.
The Median Sale Price is UP 12.5% from $640,000 to $720,000.
Inventory is DOWN 42.2% from 396 to 229 homes for sale.
Months of Supply is DOWN 60.6% from 6 months to 2.37!
Market Time is DOWN 50.6% from 85 to 42 days.
The trends of low inventory, increasing median sale price, and short market time continue through July. Unit sales dipped in July, likely due to the continued reduced inventory in combination with “buyer fatigue”, and summer vacations. We will likely see reduced closings for the same reasons in August as well.
More homes are listed for sale each day, so despite the low inventory, there is an ever-changing selection to choose from, and you only need one to make your move!
As of the day of this writing, there are 68 newly listed single-family homes and condos in Westport and Fairfield.
Yet the buyer demand is still stronger than the supply which is keeping the inventory low, causing some continued multiple offer situations, though not as many as in earlier months, and pushing sale prices up 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!
Home appreciation is expected to continue according to the National Association of Realtors Chief Economist, Lawrence Yun. Interest rates are anticipated to rise slightly but are still expected to remain historically low.
So if you are seeking your perfect home, you may want to take the plunge and move forward with doing so now!
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 or future markets, call me today 203.912.4440.
Get your Slice of Paradise on the beach and put your vision into motion!
Historically, this home has been one of the most popular academic rentals in town, affectionately known as “The Shocker“! Earn rental income with academic and summer leases, rent for the winter and have fun all summer long, or build your brand new cherished beach home.
Click image for listing!
Walk, swim, paddle board, and watch the 4th of July fireworks from your own backyard! This exceptional location ensures quick access to the vibrant downtown shops, chic eateries, and train. Stunning sunrises, sea breezes, and the endless joy of beach living are here for the taking.
Click Image for video
This property is a rare find, offering a quarter-acre of prime beachfront with stunning and dynamic views of the Long Island Sound and coastline, the Penfield Light House, and the Port Jefferson Ferries. The property includes an additional .08 acre space with a two-car garage across the street. The house also has ample space with 10 rooms including five bedrooms, a bonus room, and two and a half baths.
Click image for video!
Use the property across the street for guest parking and extra storage, or additional parking income. Bring some TLC to the existing house, or turn this into your new dream home of ~4,000+ square feet with parking underneath.
The views and possibilities are endless, but the window of opportunity is now!
Call today for more information or to request a showing ==> 203-912-4440. Feel free to send a note below.
Get your Slice of Paradise on the beach and put your vision into motion!
Coming soon to the market is 963 Fairfield Beach Road in Fairfield Connecticut. (More photos to follow.)
Earn rental income with academic and summer leases, rent for the winter and have fun all summer long, or build your brand new cherished beach home. This property is a rare find, offering a quarter-acre of prime beachfront with stunning and dynamic views of the Penfield Light House, Long Island Sound, and Port Jefferson Ferries.
“The views and possibilities are endless, but the window of opportunity is now!“
963 Fairfield Beach Road, Fairfield CT – Coming Soon to the Market!
The property includes an additional .08 acre space with a two-car garage across the street. The house has great space with 10 rooms including five bedrooms, a bonus room, and two and a half baths. Bring some TLC, or turn this into your new dream home of ~4,000+ square feet with parking underneath. Use the space across the street for guest parking and extra storage, or additional parking income.
Walk, swim, paddle board, and watch the 4th of July fireworks from your own backyard! This exceptional location ensures quick access to the vibrant downtown shops, chic eateries, and train. Stunning sunrises, sea breezes, and the endless joy of beach living are here for the taking.
The views and possibilities are endless, but the window of opportunity is now!
Call today –> 203-912-4440. Or request more information or a showing below.
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 HomesSales 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 HomesSales 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.
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.
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 RaveisLocal 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 HomesSales 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 HomesSales 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!
Fairfield and Westport CT Real Estate Guide 