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!
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 RaveisLocal 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 HomesSales 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 HomesSales 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!
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 RaveisLocal 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 HomesSales 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 HomesSales 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.
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,
Westport – New or contemporary style, ~4,000 square feet, 4+ bedrooms, $1,500,000-$1,800,000, (Need two of these!)
Westport – Renovation project or tear-down, 1+ acres, preferably with no wetlands, price flexible.
Westport – Renovation project or tear-down, any property size, preferably with no wetlands, price flexible.
Fairfield – Beach, town, Southport, or University areas, new or like-new home, 4,000 square feet, up to $1,700,000.
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.
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.
Fairfield – Beach area, near Penfield, .23+ acres on which to renovate or build new, under $700,000.
Fairfield – Town center, new or move-in ready 2-bedroom condo for rent, or sale up to $350,000.
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,
Westport – Gorgeous new construction home, likely with 4,000+ square feet and 5 bedrooms.
Westport – ANOTHER gorgeous new construction home, likely with 4,000+ square feet and 5 bedrooms.
Westport – Lovely 4-bedroom, move-in-ready home with lovely property in the Greens Farms area.
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.
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 RaveisLocal 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 HomesSales 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 HomesSales 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….
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.
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 RaveisLocal 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!
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!
Buyers are waiting. Home sale prices are up. Interest rates are outrageously low. Is there a price at which you would consider selling your house? If there is a price that motivates you, are there other barriers?
It sure appears to be the perfect storm for owners to want to sell their homes, right? Sure, except for two major roadblocks- As a potential home seller, where do you move with the limited choice in the market? And if you could work through these details, do you really feel ready?
If you are one of these homeowners, here are three things you can do to manage the logistical challenge.
You can list your home with a published contingency to find suitable housing. This relieves the pressure of not having your destination pre-determined by letting potential buyers know up-front that you reserve the right to take the time to find a new home. It also gives you an ‘out’ if you cannot find a suitable solution. You can reach out to me and also select a real estate attorney to learn more.
Alternatively you can put your home on the market and negotiate a long closing period, such as a few months, when you receive an offer- or multiple offers. Many buyers are flexible with timing, especially if they are buying a second home. This will give you time to look around.
A temporary housing plan is another key option. Are you aware that you may even be able to sell your home and rent it back from the buyers for a period of time! This can be an excellent solution for bridging the gap until you find your new home. Even if this is not doable, there are other options. If it is feasible to stay with family, go to a second home or vacation home, or get a short term rental, and put things in storage for a while, this is a great way to take the timing pressure off. It may not be convenient, but it may still be worth it in order to capitalize on the opportunities of this market and move to the home that truly satisfies your current needs and desires.
Get creative!At William Raveis, we are here to get creative with solutions to our clients’ challenges. We understand the complexities of the current market and in bridging the gap between buying and selling. So we have an entire array of services that can enable you to become a cash buyer before you sell, fix up any issues with your house without paying until it’s sold, and bridge the financial gap as well. Call me today to discuss your ideal outcome, and let’s discuss how to get you there!
All that being said, what if the above solutions are all well and good, but you still feel hesitant? It is even more important than strategizing the logistics to be sure your heart is really in it. You must be sure you are ready to sell before going on the market. Here’s the journey one home seller went through to get ready to ultimately make her dream come true.
Keep in mind that even though the inventory of homes for sale is low, the market time is also short, so the choices of homes to purchase is constantly refreshing and there are always new homes to choose from if you want to make a move.
Imagine if all you homeowners who would love to sell but have been sitting on the sidelines decide to go for it using some of the safeguards and creative solutions above? The market would be rich with choice for everyone searching (yourselves included!), and many more home buyers and sellers would be on the move toward making their dreams a reality!
You can browse around and set up some searches for yourself here if you would like to get a feel for the markets as you think about your plans. Call me today to discuss your options, 203-912-4440. We will have a brief consultation to understand your goals, the market, and how I might be able to help.
Fairfield and Westport CT Real Estate Guide 