Fairfield and Westport CT Real Estate Guide

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

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Fairfield and Westport Real CT Estate Market Report November 2024 🦃

Image: Elegant wood breakfast bar with metallic lamp

Looking to Forward to Warm November Gatherings and Beyond! 🦃🏡

As we anticipate the upcoming holidays and what’s next in local real estate, here’s what happened in October in our local Fairfield and Westport single-family housing markets compared to one year ago. If you want the exact details, check out the What Sold Reports.

October 2024

PRICE: Median Price Down. Homes Sold an Average of 102-103% of Ask.

  • Single-family sale prices averaged 103 percent of asking in Fairfield and 102 percent in Westport.
  • The median sale price in Fairfield was $828,000, down 4.8 percent from October 2023. The median sale price per square foot was also down slightly from a year ago, to $388. In Westport, the median sale price was $1,550,000, down 31.1% from last October. The median sale price per square foot was down 6.9% from the same time last year, to $577.

PACE: Shorter Average Market Time. Unit Sales Down. Hovering Around 3 Months of Supply

  • Market time was down more than 30% from than last October, averaging just 24 days to contract in Fairfield and 28 days in Westport.
  • Unit sales in Fairfield totaled 41, DOWN 6.8% from October 2023, and 23 in Westport, DOWN 8% compared to last year.
  • Inventory in Fairfield was up 23.4% from last October with 153 single-family homes for sale and down 16.1% in Westport with 78 homes for sale.
  • The months of supply metric remained in the low three-month range with levels of 3.34 and 3.21 months in Fairfield and Westport respectively. The inventory trend favoring sellers continued.

What does it mean?

The market slow down was not surprising given the longterm trend (since 1963!) of a seasonal drop in sales during October and November that’s even sharper during election years.


Yet on average, homes that sold went quickly and for above the asking price. Affordability pressures and mortgage rates, that headed north of seven percent despite anticipated cuts, likely encouraged more sales in lower price points and cash purchases. In fact, 27% of the sales in Fairfield and 43% in Westport were cash deals. The short market time demonstrated the high demand from buyers who were well-prepared and ready to commit to making competitive offers.

What can we expect going forward? History tells us that the real estate market picks up after election uncertainty has passed. Keeping Current Matters said that home sales went up after 9 of the last 11 presidential elections, referencing HUD and NAR.


What we do know is that demand continues to out-pace housing supply. There is additional pent-up demand from both buyers and sellers who have been waiting on the sidelines for changing interest rates and election results. Increased sales activity is in the 2025 forecast below.


These trends are national, and we know that real estate markets are hyper-local. No one knows for sure, but here is what AI has to say! What do you foresee? (Share your thoughts below).

Action Items.

We also know that every market offers opportunities. People have been buying and selling homes every month of every year since ‘real estate’ began. What’s important are your goals and the ideal timing for you. Reach out to your agent as soon as possible with your questions, concerns, and ideal outcomes so you can work together on a plan to get you where you want to go in the existing market.

As a seller, collaborate with your agent for the best marketing strategy and negotiations to maximize demand for your listing in the current market. If you’re concerned about where to go, consider this. Here’s an overview of what you can expect.

As a buyer in this market, preparedness and patience are the key! Your agent will help you navigate the market for a successful sale and/or purchase. Depending on the demand at any given moment for a particular property, there may or may not be flexibility on price and terms. There is still solid competition among buyers and a short window before most sellers receive and accept offers. However, there is a window right now heading into the holidays, where buyers may catch a break in leverage. As a buyer, you may be have a little more room for negotiation right now if a seller is motivated to close before the year ends and willing to make a deal!

You need to be ready to make an informed decision if you plan to secure your new home. This means you are ready to submit a competitive offer and your proof of funds or mortgage pre-approval are in your agent’s hands! Keep in mind if you are financing and enter a multiple-bid situation, you may be competing with cash offers, so you may need to have other terms that are attractive in order to be more competitive. Here’s a guide for what you can expect.

Are you planning a move this season? What dreams do you have for your newest lifestyle?

William Raveis Local Housing Data

FAIRFIELD SINGLE-FAMILY – OCTOBER 2024


WESTPORT SINGLE-FAMILY – OCTOBER 2024


To review last month’s market report.

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William Raveis Local Housing Data

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Fairfield and Westport Real Estate Market Report October 2024 🎃

Image: Blazing outdoor fireplace at 115 Lalley Blvd, Fairfield CT


October Chill is in the Air! 🎃🏡

Here’s what happened in September in our local Fairfield and Westport single-family housing markets. If you want the exact details, check out the What Sold Reports.

In September 2024–

Prices: Median Prices Varied By Town. Homes Sold for 100% or More On Average with a Wide Range

  • Single-family home sale prices averaged 100 percent of asking in Fairfield and 103 percent in Westport. There was a wide range of 84 to 111 percent in Fairfield and 91 to 125 percent in Westport.
  • The median sale price in Fairfield was $772,500, down 8 percent from September 2023. The median sale price per square foot was also down slightly from a year ago to $388. In Westport, the median sale price was $2,054,000, down 12.6% from a year ago. However, the median sale price per square foot was up 4.7% from last September, to $518.

Pace: Short Average Market Time. Unit Sales Up. Less than 4 Months Supply, Inventory Increased.

  • Market time averaged 27 days in Fairfield and 34 days in Westport which was more than 40 percent shorter than September 2023.
  • Unit sales in Fairfield totaled 46, UP 24.3% from September 2023, and 24 in Westport, UP 41.2% compared to last September.
  • Inventory in Fairfield was UP 43.6% from last September with 168 single-family homes for sale and DOWN 9.9% in Westport with 91 homes for sale.
  • The months of supply metric was UP 55.3% in Fairfield and slightly down in Westport compared to September 2023, with levels of 3.66 and 3.73 months respectively. This range still leaned towards a seller’s market and was below a balanced market with six months of supply.

What does it mean?

The sales volume and market time picked up compared to last September. The supply of inventory was about 3.7 months in both towns pointing to a continued seller’s market, but with a shift closer to more balance. Homes sold on average at full price or more but also spanned a wide range of well below- and well above the asking price. Market time overall was quick, averaging about one month to contract, but there was a wide range here too, with some homes selling quickly, some lingering, and some having price reductions.

There are numerous factors at play with expected interest rate reductions and economic factors, not to mention the election! What we do know is that there is still more demand than there is supply. What can we expect going forward? No one knows for sure, but here is what AI has to say! What do you predict? (Share your comment below).

Bottom line.

If now is a good time for you to pursue a new lifestyle, the current market always offers opportunities. Reach out to me anytime with your questions about the market and to discuss your plans.

When you are selling, your agent will guide you on the marketing strategy and negotiations to maximize the demand for your listing in the current market. If you’re concerned about where you can go, consider this. Here’s an overview of what you can expect.

If you plan to buy in this market, patience and preparedness will work in your favor! Your agent’s expert guidance will help you navigate this market for a successful sale or purchase. There may or may not be some flexibility with timing and price. It is on a house-by-house basis. There is still a predominance of solid competition and a short window before sellers receive and accept offers. It depends on how much competition exists for a particular home at the moment you want to pursue it. You need to be ready to make an informed decision if you really want to secure your new home. This means you are ready to submit a competitive offer, so your mortgage pre-approval or proof of funds should be in your agent’s hands! Keep in mind if you will be financing and enter a multiple-bid situation, you may be competing with cash offers, so you will need other attractive terms to be competitive. Here’s a guide for what you can expect.

What are your thoughts about the market and interest rates? Are you planning a move this fall? What new lifestyle dreams are you focused on? Share your thoughts in the blog comments or send me a note below.

William Raveis Local Housing Data

FAIRFIELD SINGLE-FAMILY – JULY 2024


WESTPORT SINGLE-FAMILY – JUNE 2024


To review last month’s market report.

Want a quick online home estimate?

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Thank you for your response. ✨

William Raveis Local Housing Data


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Fairfield and Westport Real Estate Market Report September 2024 🪻

Photo of twilight pool with fountains and firebowls at 155 Lalley Blvd, Fairfield CT. Text overlay" Hello September, what happened in August, and castle logo for Realtor, Linda Raymond
Image: Twilight pool at 115 Lalley Blvd, Fairfield CT


September is in Full Swing! 🪻🏡

As we dive into ‘back to school’ mode, here’s a look at what happened at the end of summer in our local Fairfield and Westport single-family housing markets. If you’re curious which homes sold, take a look at the What Sold Reports.

Here’s what happened in August 2024.

Prices: Up in Both Towns Compared to August 2023. Homes Sold At or Above Asking On Average

  • Single-family home sale prices averaged 103 percent of asking in Fairfield and 102 percent in Westport.
  • The median sale price in Fairfield was $1,150,000, UP 23.7% compared to August 2023. The median sale price per square foot was UP 6.8% from a year ago to $448. In Westport, the median sale price was $2,450,000, UP 41.6% from a year ago, although there was a distinct dip in the median sale price during August 2023. The median sale price per square foot was $517, which was up slightly (1.7%) from last August.

Pace: Short Average Market Time, But Some Homes Lingered. Unit Sales Down. < 4 Months Supply, But Inventory Increased.

  • Market time averaged 23 days in Fairfield and60 days in Westport. Market time ranged from two days to 349 days, so the average contains a broad range.
  • Unit sales in Fairfield totaled 58, DOWN 21.6% from August 2023, and 37 in Westport, DOWN 7.5% compared to last August. Inventory in Fairfield was UP 12.8% from last August with 141 single-family homes for sale and UP 4.7% in Westport with 89 homes for sale.
  • The months of supply metric was UP 28.9% in Fairfield and 26.4% in Westport compared to August 2023, with levels of 3.13 and 3.75 months respectively. Though still below a balanced market with six months of supply, inventory levels did rise in both towns. Within the previous seven days of this post, there were 49 New and Coming Soon Single-Family MLS listings in Fairfield and Westport combined, almost double that of last month.

What does it mean?

The market volume was slower than last August, but the seller’s market continued with low inventory, high prices, and short market times. Some homes sold for full price or more than asking, and some sold for less. Many homes sold quickly, but some lingered on the market and required price reductions. There was also seasonal slowing due to vacations and back-to-school preparations. But now that we are in ‘back to school mode’, it’s expected that people will be focused on the inventory that we are seeing increase, lower interest rates, with jumbo loans in the 5s, and increased activity due to all the pent up demand!

Bottom line.

If now is a good time for you to pursue a new lifestyle, the current market always offers opportunities. Reach out to me anytime with your questions about the market and to discuss your plans.

When you are selling, your agent will guide you on the marketing strategy and negotiations to maximize the demand for your listing in the current market. If you’re concerned about where you can go, consider this. Here’s an overview of what you can expect.

If you plan to buy in this market, patience and preparedness will work in your favor! Your agent’s expert guidance will help you navigate this market for a successful sale or purchase. There may or may not be some flexibility with timing and price. It is on a house-by-house basis. There is still a predominance of solid competition and a short window before sellers receive and accept offers. It depends on how much competition exists for a particular home at the moment you want to pursue it. You need to be ready to make an informed decision if you really want to secure your new home. This means you are ready to submit a competitive offer, so your mortgage pre-approval or proof of funds should be in your agent’s hands! Keep in mind if you will be financing and enter a multiple-bid situation, you may be competing with cash offers, so you will need other attractive terms to be competitive. Here’s a guide for what you can expect.

What are your thoughts about the market and interest rates? Are you planning a move this fall? What new lifestyle dreams are you focused on? Share your thoughts in the blog comments or send me a note below.

William Raveis Local Housing Data

FAIRFIELD SINGLE-FAMILY – JULY 2024


WESTPORT SINGLE-FAMILY – JUNE 2024


To review last month’s market report.

Want a quick online home estimate?

← Back

Thank you for your response. ✨

William Raveis Local Housing Data


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Fairfield and Westport Real Estate Market Report August 2024 🌻


August is Almost Gone! 🌻

Here’s a quick look at what happened last month in our local Fairfield and Westport single-family markets. If you’re curious which homes sold, take a look at the What Sold Reports.

Here’s what happened in July 2024.

Prices: Varied in July. Homes still sold at or above asking on average

  • Single-family home sale prices averaged 101 percent of asking in Fairfield and 103 percent in Westport.
  • The median sale price in Fairfield was $1,175,000, UP 7.4% compared to July 2023. The median sale price per square foot was down 1.2% from a year ago to $422. This was likely due to more larger homes selling. In Westport, the median sale price was $2,000,000, down slightly (1.4%) from a year ago. The median sale price per square foot was $528, which was UP 10.7% from last July.

Pace: Short market time on average, some homes sitting, low unit sales, 3-4 months of supply.

  • Market time averaged a brisk 20 days in Fairfield and 25 days in Westport pointing to more cash deals. Market time ranged from one day to 101 days.
  • Unit sales in Fairfield totaled 71, UP 26.8% from July 2023, and 33 in Westport, DOWN 34% compared to last July. Unit sales are still well below pre-pandemic levels. Inventory in Fairfield was UP 5.1% from last July with 104 single-family homes for sale and UP 11.7% in Westport with 162 homes for sale.
  • The months of supply metric was UP 25.8% in Fairfield and 28.8% in Westport compared to July 2023, with levels of 3.50 and 4.33 months respectively, though still well below a balanced market with six months of supply. Within the previous seven days of this post, there were 26 New and Coming Soon MLS listings in Fairfield and Westport combined.

What does it mean?

The sellers market continued in July with ongoing low inventory and short market times. Some homes sold for full price or more than asking, and some sold for less. Many homes sold quickly, but some sat on the market longer and required price reductions. As the end of summer approached, there was some seasonal slowing due to vacations and back-to-school preparations. Some would-be buyers and sellers also paused while anticipating a rate cut. But some people kept their focus on moving forward with their plans.

Bottom line.

If now is a good time for you to pursue a new lifestyle, the current market always offers opportunities. Reach out to me anytime with your questions about the market and to discuss your plans.

When you are selling, your agent will guide you on the marketing strategy and negotiations to maximize the demand for your listing in the current market. If you’re concerned about where you can go, consider this. Here’s an overview of what you can expect.

If you plan to buy in this market, patience and preparedness will work in your favor! Your agent’s expert guidance will help you navigate this market for a successful sale or purchase. There may or may not be some flexibility with timing and price. It is on a house-by-house basis. There is still a predominance of solid competition and a short window before sellers receive and accept offers. It depends on how much competition exists for a particular home at the moment you want to pursue it. You need to be ready to make an informed decision if you really want to secure your new home. This means you are ready to submit a competitive offer, so your mortgage pre-approval or proof of funds should be in your agent’s hands! Keep in mind if you will be financing and enter a multiple-bid situation, you may be competing with cash offers, so you will need other attractive terms to be competitive. Here’s a guide for what you can expect.

What are your thoughts about the market and interest rates? Are you planning a move this fall? What new lifestyle dreams are you focused on? Share your thoughts in the blog comments or send me a note below.

William Raveis Local Housing Data

FAIRFIELD SINGLE-FAMILY – JULY 2024


WESTPORT SINGLE-FAMILY – JULY 2024


To review last month’s market report.

Want a quick online home estimate?

← Back

Thank you for your response. ✨

William Raveis Local Housing Data


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Fairfield and Westport Real Estate Market Report July 2024 🇺🇸🏡


Hello July! 🌺

Here’s a quick look at what happened last month in our local Fairfield and Westport markets. If you’re curious which homes sold, take a look at the What Sold Reports.

Here’s what happened in June 2024.

Prices: Up about 10 percent from last June, homes sold above list price on average.

  • Single-family home sale prices averaged 105 percent of asking in Fairfield and 103 percent in Westport.
  • The median sale price in Fairfield was $947,883, UP 10.2% compared to June 2023 and up from May as is seasonally expected. The median sale price per square foot was UP .8% from a year ago to $389, but was lower than last month. In Westport, the median sale price was $2,325,000, UP 10.7% from a year ago and also up from last month. The median sale price per square foot was $522, which was UP slightly (1.5%) from last June.

Pace: Short market time on average, some homes sitting, fewer sales, 3-4 months of supply.

  • Days on market averaged a brisk 19 in Fairfield and 29 in Westport pointing to a significant amount of cash deals. Of note though, is that the days on market ranged from one to 184! In Fairfield, 24% of the homes were purchased with cash, and 47% of the Westport sales were cash deals.
  • Unit sales in Fairfield totaled 65, down 8.5% from June 2023, and 30 in Westport, down 38.8% compared to last June. Inventory in Fairfield was the same as in June 2023 with 150 single-family homes for sale and down 6.8% in Westport with 96 homes for sale.
  • The months of supply metric was UP 22% in Fairfield and 6.6% in Westport compared to June 2023, with levels of 3.33 and 3.78 months respectively. Within the previous seven days of this post, there were 41 New and Coming Soon MLS listings in Fairfield and Westport combined.

What does it mean?

Continued low inventory and short market time favored sellers. There were still multiple-offer situations, but these were on a case-by-case basis. Some homes sold for full price or more than asking, and some sold for less.

Bottom line.

If now is a good time for you to pursue a new lifestyle, the current market always offers opportunities. In some cases, there is more balance than before, but we are still in a seller’s market due to low inventory. When buying, patience and interest rates, now in the 6s, can work in your favor! Your agent’s expert guidance will help you navigate this market for a successful sale or purchase. Reach out to me anytime with your questions about the market and to discuss your plans.

When you are selling, your agent will guide you on the marketing strategy and negotiations to maximize the demand for your listing in the current market. If you’re concerned about where you can go, consider this. Here’s an overview of what you can expect.

If you plan to buy in this market, there may or may not be some flexibility with timing and price. It is on a house-by-house basis. There is still a predominance of solid competition and a short window before sellers receive and accept offers. It all depends on how much competition exists for a particular home at the point in time when you want to pursue it. You will need to be ready to make an informed decision if you really want to get your new home. This means you have everything ready to submit a competitive offer, especially your mortgage pre-approval or proof of funds in your agent’s hands! Keep in mind that if you will be financing and enter a multiple-bid situation, 24 to 47 percent of the competing buyers may be offering cash, so you will have to compensate with other attractive terms. Here’s a guide for what you can expect.

What are your thoughts about the market and interest rates? Would you love to be in a new home this summer? 🍉 What new lifestyle objectives you are focused on? Share your thoughts in the blog comments or send me a note below.

William Raveis Local Housing Data

FAIRFIELD SINGLE-FAMILY – JUNE 2024


WESTPORT SINGLE-FAMILY – JUNE 2024


To review last month’s market report.

Want a quick online home estimate?

← Back

Thank you for your response. ✨

William Raveis Local Housing Data


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Fairfield and Westport Real Estate Market Report June 2024 🏡☀️


Happy June! 🌼

Here’s a quick look at what happened last month in our local Fairfield and Westport markets. If you’re curious which homes sold, take a look at the What Sold Reports.

Here’s what happened in May 2024.

Prices fluctuated.

  • Single-family home sale prices averaged 105 percent of asking in Fairfield and 103 percent in Westport, up from about 100% last month.
  • The median sale price in Fairfield was $846,619, DOWN 13.2% compared to May 2023 but up from last month. The median sale price per square foot was UP 14.1% to $433 and also up from last month. In Westport, the median sale price was $1,975,775, DOWN 24% from a year ago and down from last month. The median sale price per square foot was $498, which was DOWN 10.1% from last May. The fluctuation could be due to the mix of homes that sold, such as more lower-priced homes.

Pace: Short market time, flat sales, new listings => 3-4 months of supply.

  • Days on market averaged a brisk 25 in Fairfield and 23 days in Westport pointing to a significant amount of cash deals. In Fairfield, 40 percent of the homes were purchased with cash, and 34.6 percent of the Westport sales were cash deals in May. Though some listings sat for much longer than average, the overall market time was much shorter than last May.
  • Unit sales in Fairfield were 45, the same as in May 2023, and 26 in Westport which was down 3.7% compared to last May. Inventory was up in Fairfield with 156 single-family homes for sale and down in Westport with 100 homes for sale.
  • The months of supply metric was way UP (30.4%) in Fairfield and slightly UP (4.4%) in Westport compared to May 2023, at 3.45 and 3.7 months respectively. There were 50 New and Coming Soon MLS listings in Fairfield and Westport combined at the time this was written.

What does it mean?

Continued low inventory and short market time favored sellers. There were still multiple-offer situations, but these were on a case-by-case basis. Some homes sold for full price or more than asking, and some sold for less.

Bottom line.

If now is a good time for you to pursue a new lifestyle, the current market always offers opportunities. In some cases, there is more balance than before, but we are still in a seller’s market due to low inventory. When buying, patience and more ‘user-friendly’ interest rates, now in the 6s, can work in you favor! Your agent’s expert guidance will help you navigate this market for a successful sale or purchase. Reach out to me anytime with your questions about the market and to discuss your plans.

When you are selling, your agent will guide you on the marketing strategy and negotiations to maximize the demand for your listing in the current market. Here’s an overview of what you can expect.

If you plan to buy in this market, there may or may not be some flexibility with timing and price. It is on a house-by-house basis. There is still a predominance of solid competition and a short window before sellers accept offers. It all depends on how much competition exists for a particular home at the point in time when you want to pursue it. You will need to be ready to make an informed decision if you really want to get your house. This means you have everything you need to submit a competitive offer. This also 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! Keep in mind that if you will be financing and enter a multiple-bid situation, 35-40 percent of the other bidders may be offering cash, so you will have to compensate with other attractive terms to make your offer more competitive. Here’s a guide for what you can expect.

What are your thoughts about the market and interest rates? Would you love to be in a new home this summer? ☀️ Share your thoughts in the comments or send me a note below.

William Raveis Local Housing Data

FAIRFIELD SINGLE-FAMILY – MAY 2024


WESTPORT SINGLE-FAMILY – MAY 2024


To review last month’s market report.

Want a quick online home estimate?

← Back

Thank you for your response. ✨

William Raveis Local Housing Data


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Real Estate Market 🏡 Report May 2024: Fairfield CT and Westport CT


Happy May! 🌸

Here’s a quick look at what happened last month in our local Fairfield and Westport markets. If you’re curious which homes sold, take a look at the What Sold Reports.

Here’s what happened in April 2024.

Prices fluctuated slightly.

  • Single-family home sale prices averaged 101% of asking in Fairfield and 100% in Westport.
  • The median sale price in Fairfield was $821,000, DOWN 6.7% compared to April 2023 and also down from last month. The median sale price per square foot was also DOWN slightly, by 1.9% to $410. In Westport, the median sale price was $2,333,000, DOWN 2.8% from a year ago. The median sale price per square foot was $503, which was UP 0.7% from last April.

Pace varied: short market time & variable sales volume by town

  • Days on market averaged of 23 days in Fairfield and 33 days in Westport illustrating a significant amount of brisk transactions that were likely cash deals. The market time was much shorter than last April.
  • Unit sales were down 58% in Fairfield but UP 81.3% in Westport compared to April 2023. Inventory was up in Fairfield with 158 single-family homes for sale and down in Westport with 94 homes for sale.
  • The months of supply metric was UP compared to April 2023 at about 3.5 months in both towns.

What does it mean?

Continued low inventory and short market time favored sellers. However average sale prices were closer to the asking price than we have seen in a while, which was helpful for buyers. There were still multiple-offer situations, but these were on a case-by-case basis. Some homes sold for full price or more than asking, and some sold for less. During the week of this post (mid-May) rates ticked down into the six percent range for many loan products, so more people may feel encouraged to pursue a move this season.

Bottom line.

If now is a good time for your new lifestyle goals, the current market offers the opportunity of a shift toward more balance along with more ‘user-friendly’ interest rates. Your agent’s expert guidance will help you navigate this market for a successful sale or purchase. Reach out to me anytime with your questions about the market and to discuss your plans.

When you are selling, your agent will guide you on the strategy and negotiations to maximize the demand for your listing in the current market. Here’s an overview of what you can expect.

If you plan to buy in this market, there is a bit more flexibility in timing and price than in the previous months. However, this is now on a house-by-house basis. There is still a predominance of solid competition and a relatively short window before sellers accept offers. So it is important that you are ready to make an informed decision if you really want to get your house. This means you have everything you need to submit a competitive offer. This also 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! Here’s a guide for what you can expect.

What are your thoughts about the market and interest rates? Do you plan to jump into the market this spring? 🌸 Share your thoughts in the comments or send me a note below.

William Raveis Local Housing Data

FAIRFIELD SINGLE-FAMILY – APRIL 2024


WESTPORT SINGLE-FAMILY – APRIL 2024

To review last month’s market report.

Want a quick online home estimate?

← Back

Thank you for your response. ✨

William Raveis Local Housing Data


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Real Estate Market Report April 2024 🌷: Fairfield CT and Westport CT


April is Nearly Behind Us! 🏡 🌷

Here’s a quick look at what happened last month in our local Fairfield and Westport markets. If you’re curious which homes sold, take a look at the What Sold Reports.

Here’s what happened in March 2024.

Prices were up.

  • Single-family home sale prices averaged 102% of asking in Fairfield and 99% in Westport.
  • The median sale price in Fairfield was $870,000, UP 15.7% compared to March 2023 and also up from last month. The median sale price per square foot was also UP 7.3% to $403. In Westport, the median sale price was $2,250,000, UP 11.9%. The median sale price per square foot was $489, which was DOWN 3.9% from last March.

Pace was down.

  • Days on market averaged of 82 days in Fairfield and 100 days in Westport.
  • Unit sales were down 29.8% in Fairfield and 16.7% in Westport compared to March 2023. Inventory was up in Fairfield with 115 single-family homes for sale and down in Westport with 78 homes for sale.
  • The months of supply metric was up in both towns from March 2023 but still in the two-to-three-month range. This was the result of a slower rate of sales.

What does it mean?

The market in March showed continued low inventory which was the biggest rate-limiting factor. Buyer demand also continued despite the inventory shortage which maintained upward pressure on prices. Though rates have not ticked down yet as hoped, more homes started to come to the market in April.

Bottom line.

People buy and sell in every season and in every market. So embrace your new lifestyle goals if the right time for you is now. Your agent’s expert guidance will help you navigate this market for a successful sale or purchase. Reach out to me anytime with your questions about the market and to discuss your plans.

When you are selling, your agent will guide you on the strategy and negotiations to maximize the demand for your listing in the current market. Here’s an overview of what you can expect.

If you plan to buy in this market, there is a bit more flexibility in timing and price than in the previous months. However, this is now on a house-by-house basis. There is still a predominance of solid competition and a relatively short window before sellers accept offers. So it is important that you are ready to make an informed decision if you really want to get your house. This means you have everything you need to submit a competitive offer. This also 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! Here’s a guide for what you can expect.

What are your thoughts about the market and interest rates? Do you plan to jump into the market this spring? 🌷 Share your thoughts in the comments or send me a note below.

William Raveis Local Housing Data

FAIRFIELD SINGLE-FAMILY – MARCH 2024


WESTPORT SINGLE-FAMILY – MARCH 2024

To review last month’s market report.

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Enchanting 33 Pansy Circle!

Your home is your castle, and enchanting 33 Pansy Circle in Fairfield, is ready to make some dreams come true.  Take a look at the trending story…! 

33 Pansy Circle Photo

Perhaps you or a friend are the perfect addition to this coveted enclave? Everyone here is friendly and supportive of one another. It’s a warm and festive neighborhood atmosphere, and when the weather’s nice, everyone likes to be outside.  The basketballs and soccer balls have been known to bounce around the circle! Other times there’s a peaceful retreat to respective back yards for a relaxing barbecue. The residents can’t wait to greet their new neighbors!

This grand colonial finished on 4 levels is a gem on the university cul-de-sac! Amazing Teen-Suite/NannyQuarters/Office/Yoga Studio or 6th Bedroom with a full bath sits Possible Yoga Studioabove the charming peaked garage. Better than new, and much bigger than it looks from outside, this home features 9-foot ceilings and open flow.

It also offers incredible custom high-end details, including extensive millwork, Klaff lighting, Italian Bertazzoni stove, and even a garage with a gleaming epoxy floor and a Wifi door opener that magically responds to your smartphone commands! The elegant gourmet Eat-In-Kitchen and Breakfast Area open to the generous Family Room with stone fireplace.

Open Kitchen

The second floor includes a Master Suite with luxury bath and jacuzzi tub, three additional bedrooms, a large hall bath with a granite double-sink vanity and separate water closet and bathing area, and a Laundry Room.

Vaulted ceilings top the 3rd level with a large bright Bonus space, 6th Bedroom, & full bath.

The partially finished Lower Level with high ceilings adds 717 sq ft of living space featuring a huge Rec Room/Home Gym with a wall of built-ins, another large room (now the Ping-Pong room!) that can easily be finished, plus tons of storage.

The stylish Mudroom with stone floor leads to the patio and private fenced yard. Sunny Patio

Twilight Patio

This special abode also features in-ground utilities and sprinkler system, energy efficiency, and room for a pool. Walk to Osborn Hill, around the corner from Black Rock Turnpike amenities, minutes to town, train, beaches, and highways from this excellent location.

Take a virtual tour, watch the video walk-through, and check out the listing. Elegant & enchanting! Make 33 Pansy Circle your new home, and let your dreams come true!

As featured in the Connecticut Post!

33 Pansy Cir Hot Property          33 Pansy Cir Hot Proeprty 2

If you have any questions or comments about this post or would like to arrange to see this property, enter your note below, and you will receive a quick response.

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How’s the Winter 2014 Real Estate Market Fairfield in County CT?

We sure have been hit hard with winter extremes since the New Year with everything from sub-zero temperatures to multiple blizzards and some freezing rain mixed in for good measure! No doubt the weather has been keeping our spring real estate market at bay, but how did sales look in our neighborhood markets in January after the holidays?
Let’s take a look at a few measures across three towns, and see how they relate to last year. Comparing the number of homes on the market, total sales and the average market time in January, we see some promising numbers.  View or print charts here.
 
In Weston, Westport and Fairfield inventory of homes for sale was up between nine and twenty-two percent suggesting stronger seller confidence in the market this year.   Sales in fact, were way up in Weston (50%) and Fairfield (42%) compared to January 2013. Westport sales were down twenty-two percent, but there had been a big spike in the December sales.  The average days on market was way down (-40%) in Westport, though up a bit in Weston and Fairfield (5% and 12% respectively).
 
Overall, the increased inventory and sales in addition to average market time as low as 80 days in Westport, suggest to me that there is pent up demand on both the buy and sell sides of the market.   It would be great to see the market jump up to the pace noted in my post from last June.   I expect to see a flurry of activity in the housing market instead of snow as soon as Mother Nature decides to get the weather under control!
 
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