Fairfield and Westport CT Real Estate Guide

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

Tag Archives: fairfield county CT real estate


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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.

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How’s the Housing Market, May 2021? Is Now a Good Time to Sell in Westport and Fairfield CT?

How’s the single-family housing market in Fairfield and Westport Connecticut as of the end of April? Take a look at the bullets and graphs below to see how things have changed dramatically this April compared to last April, 2020, and look at the opportunities.

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 for the link! Here are the specifics. 

In WESTPORT

  • Single-Family Homes Sales are DOWN 8% from 39 to 36 homes sold.
  • The Median Sale Price is UP 27% from $1,100,000 to $1,401,500.
  • Inventory is DOWN 35% from 271 to 177 homes for sale.
  • Months of Supply is DOWN 62% from 8 months to 3.
  • Market Time is DOWN 37% from 137 to 86 days.

In FAIRFIELD

  • Single-Family Homes Sales are UP 70% from 56 to 70 homes sold.
  • The Median Sale Price is UP 10% from $645,250 to $712,500.
  • Inventory is DOWN 46% from 426 to 231 homes for sale.
  • Months of Supply is DOWN 66% from 7 months to 2!
  • Market Time is DOWN 39% from 107 to 65 days.

The trend of extremely low inventory, increasing median sale price, and short market time continues through April into 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 has even slowed the rate of sales in Westport compared to April 2020.

Opportunities are here for both buyers and sellers, but the market can unquestionably benefit from more sellers entering the market! Vaccines are here, spring is here, interest rates remain low, and buyers are circling. 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!

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How’s the Housing Market, April 2021? Is Now a Good Time to Sell in Westport and Fairfield CT?

How’s the single-family housing market in Fairfield and Westport Connecticut as of the end of March?Take a look at the bullets and graphs below to see how things have changed dramatically this March compared to last March, 2020, and look at the opportunities.

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 for the link! Here are the specifics. 

In WESTPORT

Single-Family Homes Sales are UP 29% from 31 to 40 homes sold.
The Median Sale Price is UP 29% from $1,375,000 to $1,774,500.
Inventory is DOWN 47% from 289 to 153 homes for sale.
Months of Supply is DOWN 70% from 9 months to less than 3!
Market Time is DOWN 49% from 132 to 67 days.

In FAIRFIELD

Single-Family Homes Sales are UP 69% from 54 to 91 homes sold.
The Median Sale Price is UP 20% from $587,450 to $703,000.
Inventory is DOWN 55% from 479 to 217 homes for sale.
Months of Supply is DOWN 71% from 8 months to 2!
Market Time is DOWN 19% from 96 to 78 days.

The trend of extremely low inventory, increasing median sale price, and short market time continues through March into April, 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.

Opportunities exist for both buyers and sellers, but the market can unquestionably benefit from more sellers entering the market! Vaccines are here, spring is here, interest rates remain low, and buyers are waiting. 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!

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Matchmaker Mystery: Do You Have What I’m Looking For? 🏡❤️

Let’s work on this matchmaker mystery together!

One of the challenges buyers are facing, along with would-be sellers, is that they can’t find what they are looking for on the market.

Many agents are sharing the criteria their buyers are looking for with the hope that someone who is thinking of selling may have a match to add to the market.

Here is my urgent buyer wish list,

  1. Westport – New or contemporary style, ~4,000 square feet, 4+ bedrooms, $1,500,000-$1,800,000, (Need two of these!)
  2. Westport – Renovation project or tear-down, 1+ acres, preferably with no wetlands, price flexible.
  3. Westport – Renovation project or tear-down, any property size, preferably with no wetlands, price flexible.
  4. Fairfield – Beach, town, Southport, or University areas, new or like-new home, 4,000 square feet, up to $1,700,000.
  5. Fairfield – Home with charm and character, preferably in the beach area, but open to anywhere in town, 3+ bedrooms, at least 1,400 square feet or room to expand, $700,000-$850,000.
  6. Fairfield – Home with charm and character, high ceilings, preferably in the beach area, center of town or Stratfield areas, 3+ bedrooms, at least 1,400 square feet or room to expand, finishable basement and/or attic, office space, level yard of .16 acres or more, $500,000-$640,000.
  7. Fairfield – Beach area, near Penfield, .23+ acres on which to renovate or build new, under $700,000.
  8. Fairfield – Town center, new or move-in ready 2-bedroom condo for rent, or sale up to $350,000.
  9. New Canaan – Walk-to-train location, 3 bedrooms, preferably new or move-in ready, high ceilings, up to $1,500,000.

If a matching property is found for the buyer needs above, the following new listings will in turn be added to the market,

  1. Westport – Gorgeous new construction home, likely with 4,000+ square feet and 5 bedrooms.
  2. Westport – ANOTHER gorgeous new construction home, likely with 4,000+ square feet and 5 bedrooms.
  3. Westport – Lovely 4-bedroom, move-in-ready home with lovely property in the Greens Farms area.
  4. Fairfield – Charming cape in the beach area.

The lack of inventory is limiting the market despite the opportunity of very low interest rates and an excellent time to sell for all interested home owners.

So if you have something, say something! 😃 If you know of something, say something! 😃 Want to talk options? Say something. I’m here to help, 203.912.4440.

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Get Local Housing Data in Real-Time!

The 2021 housing market is still hot and median sale prices are still up! 📈⬆️⭐️ 

Did you know you can easily compare real-time sales and inventory trends on our Local Housing Data link which you can keep right on your phone? Or for comprehensive local data reports, sign up for our Local Market Insights newsletter on raveis.com.

Take advantage of all of our curated tools to help you make your move and contact me today, 203.912.4440.

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#2021 #LindaRaymondRealtor #WilliamRaveis #TheBestJustGotBetter #RealEstateMarketUpdate #RealEstate #IntheKnow #NumbersDontLie


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How’s the Local Housing Market Right Now? Westport and Fairfield CT – February 2021

How’s the single-family housing market in Fairfield and Westport Connecticut as of February? Take a look at the bullets and graphs below to see how things have changed dramatically this February compared to last February, 2020.

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 for the link!  Here are the specifics. 

In WESTPORT

Single-Family Homes Sales are UP 68% from 25 to 42 homes sold.
The Median Sale Price is UP 44% from $1,115,000 to $1,600,000.
Inventory is DOWN 48% from 308 to 159 homes for sale.
Months of Supply is DOWN 71% from 10 months to less than 3!
Market Time is DOWN 55% from 155 to 70 days.

 

In FAIRFIELD

Single-Family Homes Sales are UP 39% from 36 to 50 homes sold.
The Median Sale Price is UP 33% from $525,000 to $697,500.
Inventory is DOWN 60% from 474 to 191 homes for sale.
Months of Supply is DOWN 73% from 8 months to 2!
Market Time is DOWN 32% from 113 to 77 days.

 

The trend of extremely low inventory, increasing median sale price, and short market time continues through February. The pace of Fairfield’s market appears to be limited even more than Westport’s by the severe decline in inventory. The strong buyer demand in the face of this limited choice is causing multiple offer situations at nearly every turn.

Opportunities exist for both buyers and sellers, but the market can unquestionably benefit from more sellers entering the market! Vaccines are here, spring is coming, buyers are waiting….

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!

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Should I Sell My House?

Your home has been just perfect with plenty of space for you and all your needs…until now.

But since the pandemic you may be finding that you, and possibly your family members, have very different needs. This challenging time has certainly given you opportunity to test and evaluate how well your home is serving your changing demands. If you have transitioned to working from home, and may even be alongside your students doing the same, your need for extra space may have become increasingly obvious.

Now you may be wishing you had extra rooms for his and her offices, a homework space, and room for a home gym. If you’re coming from the Manhattan or Brooklyn areas, you are likely craving not just interior rooms, but outdoor space, beauty, privacy and peacefulness. The vicinity to downtown centers and train stations may not be as important as it once was now that the need for frequent commuting is likely a thing of the past.

On the flip side, perhaps your family has college students who have been off to school or will soon be graduating and leaving extra un-wanted space. This would be a prime time to make a move to a better-fitting home. Selling your too-much-space house would also free up your larger home for the many of you who in dire need of more space.

Whether you are feeling too close for comfort or a need to scale back, the current housing market with ultra-low inventory and high demand is beyond prime for sellers, and the current low interest rates also offer a huge opportunity to make a purchase. Feel free to set up your own search here if you would like to peek at market activity near you. Reach out to me anytime if would like to know your options for making a move and want to know what your home is worth in the current market.

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How’s the Local Housing Market in Fairfield and Westport CT – January 2020 vs 2021?

So how did our single-family housing markets in Fairfield and Westport Connecticut do this January compared to January 2020? As you’d probably expect, it’s been a chilly market for buyers! In a nutshell, sales and prices were UP, market time and inventory were DOWN. If you would like me to send you the link to the William Raveis Local Housing Data tool so you can run graphs like the ones below, just send me a note!  Here are the specifics from William Raveis. 

In FAIRFIELD

Single-Family Homes Sales Increased 77% from 35 to 62.
The Median Sale Price Increased 1.4% from $639,000 to $648,000.
Market Time Decreased 43% from 114 to 65 days.
Inventory Decreased 53% from 425 to 207 homes for sale.

 

In WESTPORT

Single-Family Homes Sales Increased 50% from 22 to 33.
The Median Sale Price Increased 31% from $1,187,500 to $1,555,000.
Market Time Decreased 44% from 156 to 87 days.
Inventory Decreased 51% from 296 to 146 homes for sale.

 

Of particular note is that the number of homes for sale began to decline in June 2020 in both towns at the same time that sales were rising. Unit sales spiked in July through September in Fairfield and July and August in Westport. This trend is self-limiting by the lack of homes on the market. Inventory is now at an all time low, and new listings have been dripping into the market very slowly. There is not nearly enough choice to satisfy the current buyer demand and the added buying incentive of low interest rates. The series of snow storms during the past few weeks has also contributed to discouraging would-be sellers.

However, as of the third week of February, the pace of new listings entering the market appears to be picking up. With vaccine distribution on the rise and a much anticipated spring around the corner, things may be heating up very soon!

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, or send me a note below. I’m here to help!

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Searching for that Special Valentine Gift 2-14-21

Happy Valentine’s Day 2021, everyone! After receiving lovely pink roses and a new pink sweater from my dear husband, I am off to try and make the day special for my home buyers as well.

I have found the perfect homes after whirlwind searches in Fairfield and New Canaan for four different buyers and am working on offers. My clients are coming from New Jersey, Massachusetts, Connecticut, and New York and are ready to put the current low interest rates to work for them. Today I’m off for a second look at a lovely top choice in New Canaan for my New York buyer.

Here I am in downtown New Canaan to make sure this could be the special Valentine gift for my client this weekend.

Even when we are finding that special home, we are facing multiple-offers on all fronts, and I’m utilizing every possible strategy in the toolbox, so wish us luck!

Sellers, this is the time to enjoy top dollar in record time for your property in Fairfield County. If you’re ready and willing to capitalize on this market, please give me a call, 203.912.4440!

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Looking for the Best Real Estate Company?

You only need one powerhouse to get the best real estate company and services, and you just found it with William Raveis Real Estate, Mortgage, & Insurance. As your agent for this company, I want to share the top three reasons why we are the best real estate company for you, which are the same reasons why I chose to work with this company over all the others 16 years ago!

  1. Private Family-Owned Company – Because William Raveis is owned by Bill, Chris, and Ryan Raveis, it is an agile family-based company that is one hundred percent focused on its customers with no stockholder distractions or obligations. The company’s mission is to serve its agents as their customers to ensure we are poised to be the best at serving you!
  2. Leader in Real Estate Innovation – Our company leads the industry with forward strategic and competitive thinking, cutting-edge technology, and cultivating, training, and by empowering the best agents. Our family of companies also provides our clients with premier mortgage, insurance, and closing services for a seamless transactactifon.
  3. Well-Connected, Next Door & Overseas – Our 4,000 regional agents have you covered here and abroad. Our luxury listings are represented by over 565 premier brokerages across 70 countries. This same network also enables me to connect you to your next purchase overseas.

These three high-level value propositions are key to why we are the best, but there is ample detail beneath, including new tools for us to leverage on a regular basis. And now, the best just got better with our new Raveis Essential and Raveis Premium service packages listed below.

 

I am grateful for the extensive resources William Raveis continuously provides for me to utilize on your behalf. When it rains, it pours with the ever-new and cutting edge resources I have at my disposal. I even received a new umbrella 🙂 !

In all seriousness, my goal is to understand your real estate plans and priorities and to curate a custom solution for reaching your goals. If you would like a deeper understanding of how I can meet your real estate needs, I would love to have a conversation with you. Please feel free to visit my website and company page, give me a call at 203.912.4440, or send me a note below.

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