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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Condo Buyers and Sellers: Mastering the Crucial Bylaws Tip


Just Sold! 💥 🏡

We had a very smooth transaction with this condo sale, and I’m sure my client will love his new home and lifestyle! Every transactions brings to light something new or an important tip to take to heart.

In the fast-paced world of condo transactions, a vital tip can make all the difference for both buyers and sellers:

Understand the condo bylaws before diving in.

Buyer Tip: 💁🏻

Buyers, don’t let the excitement of finding the perfect condo overshadow the importance of checking the bylaws upfront. Prioritize understanding restrictions that might clash with your plans—whether it’s running a business, renting or selling your unit, or making alterations. Save yourself from investing in a mismatched property.

Seller Tip: 💁🏽‍♂️

Sellers, leverage your knowledge of key restrictions or the absence thereof in the bylaws. Highlighting these details can streamline your sale. Transparency about limitations or the lack of them can be a selling point that attracts buyers.

By proactively grasping condo bylaws, buyers and sellers can save time and avoid unnecessary stress. It’s a simple tip that can ensure a smoother transaction and prevent future headaches.

In the condo market, knowledge truly is power. So, whether you’re buying or selling, mastering those bylaws might just be your secret weapon for a successful purchase or sale! 💫

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When Will Mortgage Rates Go Down?

Dreaming of your new home and wondering when mortgage rates will go down? Amidst the excitement of buying or selling a home, there’s one burning question on everyone’s mind: where are the rates going? For both buyers and sellers, the direction of interest rates is the compass guiding their real estate journey. Join us as we shed some light on the mystery of rate projections as well as a bit of perspective on where they are now. The decisions of aspiring homeowners and sellers navigating the dynamic housing market may be more a function of your known priorities than the rates themselves.


Everyone wants to know where rates are going!

The fact is that no one knows for sure, but here is a table provided by Keeping Current Matters that shows projections through the end of 2024.


Experts project rates to be in the mid-six percent range by the end of 2024.

What we see here is a consensus among Fannie May, Mortgage Bankers Association, and the National Association of Realtors that rates are likely to be in the mid-six percent range by the end of next year.

Current rates are still lower than they were in the last three decades.

One thing we do know is that rates in the seven-percent range are still lower than they were in the last three decades. This might not do much to change your monthly payment, but it does provide some perspective and illustrates that rates below four percent were actually an anomaly and are not likely to return.


What does this mean for you?

How does this affect home sellers and buyers? Should you make your move now? It depends on your situation, plans and priorities. Reach out, and let’s have a conversation.

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Fairfield and Westport Real Estate Market: November 2023

Holidays are coming!

As the holiday season approaches 🥳, Fairfield and Westport homeowners are eager to understand the trajectory of the real estate market. Questions about whether it will persist or come to a halt are on many minds, especially for those contemplating a move and uncertain about the ideal timing. Let’s delve into the recent market activity to gain insights and set expectations.

The October report is in!

The October 2023 report has arrived, providing a comprehensive overview of this month compared to the same period last year. Explore the What Sold Reports for a detailed look at all single-family home sales in Fairfield and Westport, Connecticut during October 2023. For those who appreciate visuals, charts await you below! 🤩

7 Things to know about what happened in October:

Yes, mortgage rate and price increases have sidelined some buyers, but not enough to offset the low inventory. Here are seven points to understand about what happened in October.

  1. INVENTORY WAS DOWN 19.2% in Fairfield and 5.7% in Westport.
  2. UNIT SALES WERE DOWN 27.9% in Fairfield and UP 19.0% in Westport.
  3. MARKET TIME WAS DOWN averaging 40 days in Fairfield and 43 days in Westport.
  4. MEDIAN SALE PRICE WAS UP 12.9% in Fairfield and UP 26.4% in Westport.
  5. SALE PRICES AVERAGED 103.3% and 102.2% of the list price in Fairfield and Westport respectively.
  6. SOLD OVER LIST PRICE: 68.8% in Fairfield and 52.0% in Westport.
  7. SOLD FOR OVER 95% OF LIST PRICE: 91% in Fairfield and 84% in Westport

Low inventory and strong buyer demand continue to upward pressure on prices.

Buyer tip:

When you are buying in this market, there is still a good amount of competition and a short window of time before sellers are accepting offers. So it is important that you are ready to make an informed decision and have everything you need to submit a competitive offer. This means that you have your mortgage pre-approval or proof of funds in your agent’s hands, because an offer is not complete without this critical piece!

Seller tip:

When you are selling, the market’s response to your listing depends on how compelling your asking price is for the property you are presenting and the demand for your property at the time you list your home for sale. Your agent will guide you on the strategy to maximize the demand for your listing in the current market.

So what’s the take away?

Bottom line: Sixty-seven homes sold in November 2022 which means that 134 parties made a successful move. So we can expect a good amount of people making successful moves this November as well. Will one of them be you?

People buy and sell in every season and in every market. So embrace your dream lifestyle and go for it, if now is right for you! The expert guidance of your agent will help you navigate this market to secure your new home. Reach out to me anytime with your questions about the market and to discuss your plans.

William Raveis Local Housing Data

FAIRFIELD SINGLE-FAMILY – OCTOBER 2023


WESTPORT SINGLE-FAMILY – OCTOBER 2023

If you’re not ready to think about your move yet, please refer your friends to me using the form below. Referrals are a win-win!

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William Raveis Local Housing Data


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🏃‍♀️💨 Don’t Miss the Window of Opportunity to View 👀 6 Crockett Street, Rowayton CT this Week! ✨🏡

View Ariel & Interior Video

They say good things come to those who wait, and this treasure is now here for you in Rowayton! 😍

A stunning, romantic antique Victorian home nestled on enchanting 6 Crockett Street is now available to see after its windows were restored to their original glory! 🪟🔨 Added bonus: It is now sporting its best festive Halloween 🎃 decor.

Imagine sipping your morning coffee on the charming front porch or blue stone patio, surrounded by the fall blooms and the promise of exceptional views for every season! 🌞🍁 Or stroll down a block and relax in the cafe downtown.

✨ What to expect:
🏡 Timeless Victorian charm and history
🪟 Restored original glass windows for authentic charm, light, and energy efficiency
🌳 Lush and colorful garden spaces
🛌 5 bedrooms & 4 and a half baths
🌊 Steps to the harbor & water view glimpses upstairs!
🏞️ Prime downtown Rowayton location

📆 Arrange for a showing this week and a chance to make this dreamy Victorian 💫 your forever home. Your slice of Rowayton heaven is just within reach! 🏡 🤩

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#CrockettStreetCharm #RowaytonLiving #HomeSweetHome #VictorianElegance #ComingSoon #DreamHome


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🎶 Join us for an unforgettable night at our Music For A Cure event! 🎗️

See the video clip!

🎶 Join us for an unforgettable night at our Music For A Cure event! 🎗️ This Thursday, from 6-10 pm at @warehouseatfFTC, we’re turning up the volume to make a difference. 🌟

Get your tickets or make a donation at Music4ACure.com!

$40 in advance
$50 at the door

🎤 Groove to the sensational beats of Clear Blue Soul, and prepare to be surprised by and amazing guest singer! 🤩

🥂 Sip on your favorite drinks at the cash bar, savor delicious bites from food trucks, and get ready for an evening of fun and passion for the cause! 🚀

🎁 Jump into the raffle action because our raffle prizes are amazing, and the best part is that your participation contributes to innovative cancer research. 🧬 Together, we can make a difference!

🍰 Save room for free desserts because we believe in sweetening the deal for all our supporters! 🍰

Let’s unite to fight cancer through the power of music, dance, and community. 🌍💪
See you on Thursday! 🗓️ Don’t miss your chance to be part of the cure. 💖

#MusicForACure #CancerResearch #CommunityStrong #TogetherWeCan#Fundraiser #FTC #FairfieldTheaterCompany #FairfieldCT #WWMD
#MUSIC4ACURE
#musicforacure
#williamraveischaritablefund
#damonrunyoncancerresearchfoundation #williamraveissouthport
#williamraveis
#StrongerTogether#LindaRaymondRealtor

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Fairfield and Westport Real Estate Market: October 2023

October numbers are in!

Greetings, Fairfield and Westport homeowners. I know many of you would like to make a move but are trying to figure out the best timing for your goals.

The charts below summarize what happened in September 2023 compared to August and to September 2022. You can also view the What Sold Reports to see all the single-family homes that sold in September 2023 in Fairfield and Westport Connecticut.

If you don’t like charts, skip to the summary below! 🤩

FAIRFIELD SINGLE-FAMILY – SEPTEMBER 2023


WESTPORT SINGLE-FAMILY – SEPTEMBER 2023

William Raveis Local Housing Data

Low inventory and strong buyer demand continue to maintain some upward pressure on prices.

Yes, mortgage rate increases have sidelined some buyers, but not enough to offset the low inventory. Here are five key points to understand about the market in September this year vs last year.

  1. INVENTORY WAS DOWN 21% in Fairfield and 1% in Westport.
  2. UNIT SALES WERE DOWN 37.9% in Fairfield and 55.3% in Westport.
  3. MARKET TIME averaged 48 days in Fairfield and 58 days in Westport.
  4. MEDIAN SALE PRICE was down slightly (1.1%) in Fairfield and UP 17.4% in Westport.
  5. SALE PRICES AVERAGED 102.3% in Fairfield and 96.6% of asking in Fairfield and Westport respectively, (so pretty close to asking).
  6. SOLD OVER ASKING: 74.3% in Fairfield and 18.8% in Westport.

When you are buying in this market, there is still a good amount of competition and a relatively short window of time before sellers are accepting offers. So it is important that you are ready to make an informed decision and have everything you need to submit a competitive offer. This means that you have your mortgage pre-approval or proof of funds in your agent’s hands, because an offer is not complete without this critical piece!

When you are selling, the market’s response to your listing depends on how compelling your asking price is for the property you are presenting and the demand for your property at the time you list it for sale. In September, homes sold close to the asking price on average and went under contract in 48-58 days. Your agent will guide you on the strategy to maximize the demand for your listing in the current market.

Bottom line: There is a very nice window right now to sell your home. We are after the back-to-school rush and before the holiday craziness, after the summer heat and before the wintery mix. Buyer demand remains higher than the supply, and the inventory is still low.

People buy and sell in every market, so embrace your dream lifestyle and go for it, if now is right for you! The expert guidance of your agent will help you navigate this market to secure your new home. Reach out to me anytime with your questions about the market and to discuss your plans.

If you’re not ready to think about your move yet, please refer your friends to me using the form below. Referrals are a win-win!

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William Raveis Local Housing Data


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Taking Action 💪 to Prevent Local Crime: Residents Launch 1st Neighborhood Watch 👀 Meeting in Fairfield CT

Local crime, especially auto-theft have been on the rise, and there is something we can do about it. After attending a recent meeting with the Greater Fairfield Board of Realtors, I learned that having a Neighborhood Watch program or process in place is a key strategy to proactively prevent crime where you live.

How to Launch a Neighborhood Watch Where you Live

If you may want to start a Neighborhood Watch Program 👀 in your neighborhood, here is what I did to implement our first meeting.

First I introduced the idea and proposed the date.

Happy, Saturday, I hope this email finds you all in great spirits! I recently attended a meeting with our local Fairfield police officers, and they shared some compelling insights on neighborhood safety. One of their top recommendations is to establish a Neighborhood Watch program here on Charles Street. I believe it’s an idea worth exploring, and I’d like to hear your thoughts on it.

Here’s a brief overview of what’s been discussed:

The Idea 💡: Starting a Neighborhood Watch Program

The Purpose: To enhance the safety and security of our cherished Charles Street community, especially considering with car theft on the rise and our proximity to the train and highway.

What We Can Expect: Officer Ed Nook will join us for a kickoff meeting. This program can range from simple communication channels to regular meetings and various safety initiatives.

Benefits: According to the National Neighborhood Watch website, the advantages include stronger partnerships with law enforcement 👮🏽, reduced crime rates, a more secure community, enhanced unity 👫👬 among neighbors, and improved communication.

Next Steps: I propose we meet on Wednesday, October 4th at 6 pm. Can anyone volunteer their home as the meeting location? We will make it a cozy gathering with some pizza 🍕 and wine🍷. 😊

But first, I’d like to gather your initial feedback. Please reply to this email with:

1. Your thoughts: Do you think this is a good idea? (Y/N)

2. Availability: Can someone from your household attend the meeting on October 4th at 6 pm?

3. Safety and Communication Concerns: Are there any specific safety or communication issues that concern you?

4. Meeting Location: Any thoughts on where 🏡 we should hold our initial meeting?

Let’s work together to make our street safer, more aware, and even more neighborly. I’m excited to hear your thoughts and get this discussion started. Looking forward to your replies!

Warm regards,
Linda

If you would like to reach out to me with questions, send a note below.

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Emotional Testimonial Tuesday: Witness the Heartfelt Thank You Card that Made Linda Raymond Realtor’s Day

See the clip!
Testimonial Tuesday! Nothing means more to me than making my clients happy 🤗! This card and thoughtful gift came from clients who I secured a rental 🏡 for after meeting with them only twice! 😍

Get ready Fairfield sellers, these lovely clients will be buyers next year!

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#testimonial
#testimonialtuesday
#lindaraymondrealtor
#yourcastlemymission


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MUSIC FOR A CURE Is Back: October 19, 2023!


We are thrilled to announce the return of “Music for a Cure” for its second year, a William Raveis Charitable Fund event dedicated to raising vital funds for cancer research. This year, we are proud to dedicate our efforts to the memory of Meghan Raveis with an evening of live music featuring the incredible band, Clear Blue Soul.

Event Details:

– Date: October 19th

– Time: 6-10pm

– Venue: FTC-The Fairfield Theater Company

To purchase your tickets or become a sponsor please visit our website at
www.music4acure.com

If you are unable to attend but would like to contribute to this worthy cause, you can make a donation on our website as well.  Last year we raised over $35,000, with 100% of the proceeds going to cancer research. So, if you know anyone who would like to be a sponsor or attend our event, please forward this information.  And please share the flyer on your social media page…this is a group effort that we can all be proud of!!!

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Fairfield and Westport Real Estate Market: September 2023

Hello Fairfield and Westport!

Here’s your September market report. If you are like many I know, you would like to make a move but are trying to figure out the best timing for your goals.

The charts below summarize what happened in August 2023 compared 2022. You can also view the What Sold Reports to see all the single-family homes that sold in August 2023 in Fairfield and Westport Connecticut. Additional metrics including the sale-to-list price ratio and number of cash sales are included from the MLS below.

FAIRFIELD SINGLE-FAMILY – AUGUST 2023


WESTPORT SINGLE-FAMILY – AUGUST 2023

William Raveis Local Housing Data

Low inventory and strong buyer demand continue to maintain upward pressure on prices.

Yes, mortgage rate increases have sidelined some buyers, but not enough to offset the low inventory. Here are six key points to understand about the market in August this year compared to last year.

  1. INVENTORY WAS DOWN 19.2% in Fairfield and 5.3% in Westport.
  2. UNIT SALES WERE DOWN 11% in Fairfield and 20.4% in Westport.
  3. MARKET TIME WAS DOWN to an average of 42 days in Fairfield and 39 days in Westport.
  4. SALE PRICES AVERAGED 104% – 105% of asking in both towns.
  5. ACCEPTED OFFERS VS ACTIVE LISTINGS WERE SIMILAR TO 2019 LEVELS with 13% of active listings having accepted offers in Fairfield and 8% in Westport at the end of August, (Compared to 11% in Fairfield and 6% in Westport in August 2019).
  6. CASH DEALS DECREASED in August to 28.8% of sales in Fairfield and 26.8% in Westport. This is lower than in the previous month of July when 35.1% and 38.5% of the sales were cash in Fairfield and Westport respectively. These could be purchases that were committed to before the most recent mortgage rate increases.

When you are buying in this market, it is important that you are prepared to make an informed decision and to submit a competitive offer. This means that you have your mortgage pre-approval or proof of funds in hand, because an offer is not complete without this critical piece! The good news is that new listings are coming to the market each day, so you can look forward to having new options.

If you are selling a home for which you put down a solid down payment or paid cash for, you can look forward to enjoying a high sale price and maximum equity!

On average, homes sold 104-105% above the asking price in August, yet some homes also had price reductions. The market response to your listing depends on how compelling your asking price is for the property you are presenting and the demand for your property at the time you list it for sale. Your agent will guide you on the strategy to maximize the demand for your listing in the current market.

Bottom line: Now is a still a great time to sell! Buyer demand remains higher than the supply and inventory is still low. As a buyer in this market, you can anticipate increased equity from price appreciation that is expected to continue. New listings continue to come to the market each day offering new choices. Rates may also come down in the next year or so enabling you to refinance.

Embrace your dream lifestyle with the expert guidance of your agent to secure your new home. Reach out to me anytime with your questions about the market and to discuss your plans.

If you’re not ready to think about your move yet, please refer your friends to me using the form below. Referrals are a win-win!

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Thank you for your response. ✨

William Raveis Local Housing Data