Fairfield and Westport CT Real Estate Guide

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

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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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How’s the Housing Market Right Now – January 2021?

What’s the pulse of the local single-family housing market in Fairfield and Westport, Connecticut in the first three weeks of January 2021? How many accepted offers? Where are they? What are the price categories? Days on market? Inventory levels and new listings? Here’s an update from the SmartMLS.

FAIRFIELD ACCEPTED OFFERS AND INVENTORY

Fairfield CT locations of accepted offers

69 New Year accepted offers!

Offers are located all over town

PRICE BREAKDOWN?
64% Priced < $1 million
36% Priced > = $1 million

69 Median days on market

At the end of December 2020, Fairfield inventory levels were at historic lows, as illustrated by the graph below from William Raveis Real Estate.

There have been 25 new listings since January 1, ranging in price from $285,000 to $4,295,000.

 

WESTPORT ACCEPTED OFFERS AND INVENTORY

18 New Year accepted offers!

Westport CT locations of accepted offers

Offers appear to be concentrated near the downtown area and the Post Road

28% Priced < $1 million
72% Priced >= $1 million

18 Median days on market

At the end of December 2020, Westport inventory levels were at historic lows, as illustrated by the graph below from William Raveis Real Estate.

There have been 26 new listings in Westport in all price points, ranging from $699,000 to $12,000,000!

So it’s fair to say that the Fairfield and Westport housing markets have been ramping up following the lull of the December holidays and there is a good amount of activity. Despite the new listings that have been trickling onto the market though, there is not enough choice to satisfy the current buyer demand and the added purchasing incentive of low interest rates.

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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Fairfield Beach in Review: December 2020

Quick Request:  If you received a postcard of the picture below and/or saw it on Facebook, please let me know in the comment form at the end of this post! Thanks!   

Market Activity on
Fairfield Beach Road, Pine Creek Avenue, & Old Dam Road

What’s On the Market?

Active Beach Listings

Fairfield Beach Road

  • 10 single-family homes are for sale.
  • Three are new construction listings priced from $1,495,000 for a creekside property to $2,995,000.
  • Four properties have a dock on the Pine Creek waterway.
  • Three of the properties have a dock on the creek.
  • The highest-priced home listed for $4,9999,000 sits on the beach and has a large guest house.
  • The lowest-priced home has a non-buildable lot on the beachfront with a cottage on the creek across the street from it.

There is one active listing on Pine Creek Ave but no active listings on Old Dam Road.

What Has Sold Since Mid-October?

Sold on the beach 2020

  • Eight single-family homes sold at the beach from October 15 through December 8 including two on Pine Creek Avenue.
  • One condo sold on Fairfield Beach Rd across from the beach for $728,000.
  • Single-family sale prices ranged from $985,000 to $4,150,000.

What About Accepted Offers?

  • There are currently two accepted offers on Fairfield Beach Rd between $2,000,000 and $3,000,000.
  • There is one accepted offer on Pine Creek Avenue for a home priced at $1,650,000.

In stark contrast, last year in 2019 during the same timeframe from October 15 through December 8, there was only one beach sale, 296 Pine Creek Avenue for $2,900,000!

So the word on the street is that the holidays are right around the corner, and there is a lot of merry and bright activity at the beach!

Click here to set up your own search.

If you have any questions about this market and what it can mean for you, please reach out to me at 203.912.4440, Linda.Raymond@raveis.com , visit my website, or using the form below.  I’m here to help!

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Fairfield Beach in Review: October 2020

Market Activity on
Fairfield Beach Road, Pine Creek Avenue, & Old Dam Road

What’s On the Market?

Active Beach Listings

Fairfield Beach Road

  • 12 single-family homes are for sale.
  • Five are new construction listings priced from $1,495,000 to $2,995,000. Two have not been built yet.
  • Of note is that there are three new construction listings priced at $2,995,000. One is on more than a third of an acre and sits across from Penfield Beach and the other two are on small lots on the beachfront near the very end of the peninsula.
  • Four properties have a dock on the Pine Creek waterway.
  • Two of the properties have a guest house.

There are no active listings available on Pine Creek Ave or Old Dam Road.

What Sold, Mid-August to Mid-October?

Sold & Accepted Offers

  • Five single-family homes sold at the beach from August 15 through October 15.
  • Two condos sold, one on Fairfield Beach Rd across from the beach for $715,000 and a penthouse on Pine Creek Avenue for $1,125,000.
  • Single-family sale prices ranged from $1,560,000 to $5 million.

What About Accepted Offers?

  • There are currently six accepted offers on Fairfield Beach Rd with prices ranging from $728,000 for a non-beachfront condo to $4,495,000.
  • There is one accepted offer on Pine Creek Avenue for a home priced at $995,000.

Interestingly, compared to last year, the same sales activity occurred during this timeframe.  Five homes sold and two condos sold, one condo on Fairfield Road, and one on Pine Creek Avenue.  However, the sale prices for the single-family beach houses were quite a bit lower, ranging from $700,000 to $1,750,000 last year, mid-August  to mid-October.

So the word on the street is that air may be getting cooler, but the waterfront market remains quite warm!  Who is ready to take a dip? 🙂

 If you have any questions about this market and what it can mean for you, please reach out to me at 203.912.4440, Linda.Raymond@raveis.com , or using the form below.  I’m here to help!

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Fairfield Beach in Review: August 2020

Market Activity on
Fairfield Beach Road –  Pine Creek Avenue – Old Dam Road

What’s On the Market?

Active Beach Listings

Fairfield Beach Road

  • 12 single-family homes are for sale.
  • Four are new construction listings priced from $1,500,000 to $3,200,000. Three are complete and sit across the street from the water. Two are under construction, one on the creek, and one on the beach with a creekside parcel and a dock.
  • Seven of the listings are on direct beachfront and priced from $1,700,000 to $5 million.  Two of these have additional creekside property, and one also has a dock on the creek.
  • There are three creek-front listings priced from $2 million for a home with a dock to $2,570,000 for a new home under construction.

Pine Creek Ave

  • There is one waterfront property for sale for $2,495,000.

Old Dam Road

  • There is one property for sale on about a third of an acre that is not on the waterfront for $875,000.

What Sold, Mid-June to Mid-August?

Sold & accepted offers since mid-June

  • Four single-family homes sold since mid-June including three on Fairfield Beach Road, and one on Old Dam Road.  Two were on the beachfront and two on the waterway.
  • One condo across the street from the water sold on Fairfield Beach Road for $715,000.
  • Single-family sale prices ranged from $700,000 for a home not on the water on Old Dam Road to $3 million for beachfront renovation/new construction on Fairfield Beach Road.

What About Accepted Offers?

  • There are currently two homes under contract, a three-years-young beachfront home on Fairfield Beach Road listed for $2,795,000 and a beachfront condo on Pine Creek Avenue on the market for $1,135,000. 
  • Three homes on the beach have accepted offers with list prices ranging from $1,695,000 to $2,395,000.

1690 Fairfield Beach Rd - Sold

There have been nine sales so far this year through August 15 compared to 14 last year during this timeframe, however the five accepted offers should catch us up. One improvement we have seen this year is the beach homes selling closer to the asking price. On average the nine sales this year closed at 96 percent of the asking price compared to 94% last year.

Still, this year’s beach market has been a bit slow compared to other blazing markets driven by the pandemic. For example, in the entire Fairfield Beach Area (including homes closer to town), there were 95 sales year to date that sold for an average of 97 percent of asking compared to 78 sales YTD in 2019 selling on average for 96 percent of asking.

So the word on the street is that we may be in the dog days of summer at the beachfront, but the market overall is still hot!

 If you have any questions about this market and what it can mean for you, please reach out to me at 203.912.4440, Linda.Raymond@raveis.com , or using the form below.  I’m here to help!

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Fairfield Beach in Review: June 2020

Market Activity on
Fairfield Beach Road –  Pine Creek Avenue – Old Dam Road

What’s On the Market?

Fairfield Beach Road

  • 13 single-family homes are for sale.
  • Four are new construction listings priced from $1,500,000 to $3,200,000. Two are complete and sit across the street from the water. Two are under construction, one on the creek, and one on the beach with a creekside parcel and a dock.
  • Eight of the listings are on direct beachfront and priced from $1,350,000 to $3,775,000.  Five of these have additional creekside property, and two also have a dock on the creek.
  • Two listings are on the creek priced at $2,195,000 for a home with a dock, and $2,269,000 for a new home under construction.

Pine Creek Ave

  • There is one property for sale, a penthouse condo at Kensie Point, 10 Pine Creek Avenue, 501S for $1,135,000.

Old Dam Road

  • There is one property for sale on a 0.72-acre creekside parcel with a dock listed for $1,980,000.

What Sold So Far in 2020?

  • Four single-family homes sold in April and May including one on Fairfield Beach Road, one on Pine Creek Avenue, and two on Old Dam Road.
  • Sale prices ranged from $580,000 for a home off the water at 57 Pine Creek Avenue to $1,375,000 for a home at 2087 Fairfield Beach Road.

What About Accepted Offers?

  • There are currently two homes under contract, (my listing), a creekside home with a dock at 1690 Fairfield Beach Road listed for $1,095,000 and a newly raised home that is currently under construction on the beach at 1092 Fairfield Beach Road listed for $3,000,000. 
  • Two non-waterfront properties have accepted offers. One condo on Fairfield Beach Road and one house on Old Dam Road, listed for $729,000 and $700,000 respectively.

Sales activity on the waterfront this year has some catching up to do to match 2019 activity. Last year there were seven sales in February through May with sale prices ranging from $980,000 on Old Dam Road to $2,455,000 for (my listing), a large home on the beach with a creekside garage and finished space above it.  The late start of this year’s beach market is not surprising given the onset of the pandemic. However, the real estate market overall has seen an influx of activity from low interest rates and swarms of people leaving New York City, so the word on the street is that ‘summer is the new spring‘, and many anticipate a busy beach market ahead!

 If you would like to discuss the value of your property in this market and how I would market it for you, please contact me at 203.912.4440, Linda.Raymond@raveis.com , or using the form below.

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Beach in Review: Fairfield 2019 into 2020!

Market activity on
Fairfield Beach Road –  Pine Creek Avenue – Old Dam Road

What’s On the Market?


On the Market: 1690 Fairfield Beach Road

Fairfield Beach Road

  • 10 single-family homes are for sale.
  • Three are new construction listings priced from $1,900,000 to $3,200,000. One is nearing completion and sits across the street from the water. Two are proposed new construction on direct beachfront.
  • There are two listings on the creek with a floating dock, 1690 and 1522 Fairfield Beach Road, priced at $1,150,000, and $2,350,000 respectively.
  • Seven of the 10 listings are on direct beachfront and priced from $1,699,000 and $3,775,000.

Pine Creek Ave

  • There is one property for sale at 57 Pine Creek Avenue for $599,000.

Old Dam Road

  • There are three properties for sale on the creek with a dock with prices ranging from $649,000 to $1,099,000.

Source: SmartMLS Updated 2/12/2020

What Sold in 2019?

  • 20 single-family homes sold including 15 on Fairfield Beach Road, four on Pine Creek Avenue, and one on Old Dam Road.
  • The highest sale price was $2,900,000 on Pine Creek and the lowest was $549,000 for an antique cottage on Fairfield Beach Road.
  • Two condominiums sold, one in the Burr Court complex on Fairfield Beach Road, and one at Kensie Point on Pine Creek Avenue.
  • There is currently one home under contract on Fairfield Beach Road listed for $3,000,000. 

The 2019 waterfront market enjoyed a higher median sale price of $1,527,500 compared to $1,460,000 in 2018. Twenty single-family homes sold in both 2019 and 2018, and there was one condominium sale in 2018 and two in 2019.  As we begin 2020 with low interest rates, a nice selection of active beach listings, and one home already under contract, I’m optimistic for a great year ahead.  If you would like to discuss the value of your property in this market and how I would market it for you, please contact me at 203.912.4440, Linda.Raymond@raveis.com , or using the form below.

Linda Raymond at Penfield Beach
2020 should be great, and I can’t wait!

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My Most Cherished Walking Trail in Fairfield CT’s Beach Area!

tidal-marsh-with-creek

Everyone who walks this trail, especially my dogs, agrees that this is one of the most wonderful places to go to decompress and gain inspiration in Fairfield Connecticut’s beach area.   You may find yourself alone with the wildlife (and your dogs), or you may see other people dog-walking, jogging or bicycling. marsh-trail

There is convenient access from several beach area neighborhoods.  One entrance is on Old Dam Road.  You can jump on the trail from the Meadows condo complex off South Pine Creek Road, or you can enter at Mona Terrace by the soccer field and senior center. The latter is my favorite because there is a cut-through from an additional neighborhood near me at the Veres Park cul-de-sac.  A parking lot is also available at the senior center, next to the soccer field.

marsh-trail6

When entering from Mona Terrace, I like the fact that you have options. You can choose to go for a short and sweet stroll along the marsh-side path that leads out to Oldfield Road.  Or for a bigger commitment, you can jump onto the wide trail and go through the woods, across the bridge, and past the Meadows condos and Old Dam Road to the end of the trail and back. marsh-trail3

The woods are always peaceful and pretty, but in my view, the vistas along the tidal marsh are where I find my “Zen”.  When it’s high tide, the water winds through the tall grasses, and when the sun hits the water just right, it sparkles through the reeds and tree branches like diamonds! In the summer, the seaside greenery boasts flowers of vivid colors, and a vast variety of birds are busy doing what they do!

marsh-trail5

Last, but not least, if you take the full route to the end, you will get the prize.  What makes this my favorite trail is that it narrows along a little strip of raised land, where you start to wonder where you will end up.  But it leads you to the sweetest of surprises.  The tail takes you to a final destination, where (spoiler alert) you are surrounded on three sides by the water of a tranquil lagoon.  Beyond the edge of the lagoon, to the right, you can see two more waterways.  Old Dam Road flanks the lagoon with Pine Creek behind it.  And behind that, you see Fairfield Beach Road and the Long Island Sound.  Three different waterway views all at once, what a rare treat!   Your dogs can go for a swim, you can take some photos as I’ve done here, and then, you can head back to reality feeling renewed.

tidal-marsh-trail-end

If you have any questions about the rich local amenities in this area and what it means for you, please reach out to me at 203.912.4440, visit my website, or send a note below.  I’m here to help!  Feel free to set up your own search in the meantime to get a feel for what’s available!

-Linda

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Get a Realtor on Board!


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Home Buying Tips In A Tight Market – What can a buyer can do to combat tight inventory?

If you are a home buyer and don’t see many options during your initial search online, make sure you get a Realtor on board to help you.  Get a Realtor on Board!

Even though inventory may be low and declining, there are at least three key actions your agent can take for you.  Make sure your agent knows what you are looking for, the location you want and your ideal timing.

  1. Armed with this insight, the first thing your agent will do is set up a search for you in the MLS. This allows other agents to conduct a ‘reverse search’ for your wish list items that could match a new listing they plan to put on the market.  They can call your agent who will then be among the first to know about the new listing that could be perfect for you!
  2. The next action your Realtor can take is to send an email to fellow agents in the offices around the town where you are looking that asks if they have a possible match coming to the market.  This can encourage sellers to expedite their plans and make their property available sooner than they had originally planned.  It also gets you first dibs on these homes!

Sample letter to homeowners

3. Last, but not least, your agent can write a letter or design a postcard describing your dream home and mail it directly to the homeowners on your favorite street or in the area you are focused on.

 

Sample Postcard

 

 

 

If you are a seller dealing with buyers that are circling and taking no action or facing a complete lack of buyers altogether, there are key action steps you can take too.

So don’t give into a slowing market, surge ahead, get the market to work for you, and make your move!

For questions or help in this market, send me a note using the form below.

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Moving is So Bittersweet

You might say the phenomenon is like a rollercoaster ride when a house changes hands. It goes from someone’s beloved home to being the commodity of ‘a house’ and then back to a dear home again when the new owners move in.

And during this process, the lives of those connected to the transfer undergo such a monumental, emotional and bittersweet transition.

Cathy & Sal

Cathy & Sal

Cathy and Sal passionately enjoyed two decades of raising a family on Charles Street in the Fairfield Beach area. They always celebrated holidays to the hilt. Their elaborate lawn displays each Halloween included their camouflaged kids as spirited spooks who actively taunted trick-or-treaters before handing out candy. And their Christmas displays included every conceivable festive (inflatable and not!) item they had in their attic during the off season! Top these 20 Halloweens and 20 Christmases with a beautiful wedding ceremony for their eldest daughter this past summer, and you have just a few exceptional memories in your chest.

But now that the last of two girls and a boy have grown up and found a place of their own, it was time to move on. They didn’t expect it all to happen so quickly, but they priced their house to sell , staged it to look great and had it under contract for above their asking price in just 23 days!

Cathy and Sal found another fantastic home near the shore in New York and will be much closer to their family. This was an exciting change and the start of a new chapter, yet I know Cathy was fighting back the tears as she waved goodbye to her old house and smiled for the picture before making the full transition to her new home.

Today Charles Street welcomes a new family with two little boys, and like Cathy and Sal, they’re ready for lots of new good times to be had!

For questions and about your own transition, just send me a note below, and I’m happy to help. -Linda

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