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 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?

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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?

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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.

Want a quick online home estimate?

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Thank you for your response. ✨

William Raveis Local Housing Data


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Space Transformation in Your Home: Join Us for A Behind-the-Scenes Staging Walkthrough!

See the YouTube Video!

Dive into our staging walkthrough and unlock the secrets to selling your property faster! See how staging can optimize space, highlight assets, and spark emotions! Don’t miss this chance to create a buyer’s dream by elevating any environment and creating captivating spaces!

Many sellers hesitate to invest in staging as a marketing strategy when putting their homes on the market. It’s because they figure buyers can visualize the space they want, right? 

Put Your Buyer Hat On for A Minute

But if you put your buyer hat on for a minute, and try to visualize the space differently, it’s not so easy. Buyers will often miss seeing the best use of the space, the key assets of the space, and they will miss out on the positive emotional impact of the space, all of which staging can provide. 

So I wanted to show you a few video examples, and you can see for yourself. 

The Dining Room Is Set for Guests

The first example is the beautifully staged dining room. It shows that there’s ample space for seating and that it’s conveniently located just off the kitchen. The light colors are attractive and lighten the space, and the decorative and delicate vase of branches shows off the bay window and an area for a side table. The art on the wall and centerpieces down the centerline of the table give an emotional feeling, like, hey, I would like to entertain here someday!

The Living Room Showcases Its Inviting Features

The key features in the living room are that it has a beautiful raised tray ceiling, a lovely gas fireplace, ample seating, and sliders to the deck outside. The staging showcases these features by using simple lines with light colors and a painting that brings the eye right up and over to the fireplace. A bright green throw blanket on the sofa is a splash of color that pulls the eye to the doors and the view outside. The staging also shows that there’s plenty of room for seating with two large sofas and plenty of room to spare. The only thing I might have done differently is use a club chair on each side of the sliders so that the views are straight out to the side instead of a sofa blocking it. This coffee table also features beautiful books about global travel that speak to an aspirational lifestyle that everyone wants to have! 

The Primary Bedroom Is a Luxurious Sanctuary

Staging in the primary bedroom is soft and luxurious. It shows an oversized bed with a tall headboard. The light pictures on either side of the bed bring the eye upward toward the high ceiling. And the throw blanket brings the eye to the window and a nice deck outside. Last, but not least, there are some little accessories on the dresser like perfume and flowers that make you feel like you’ve just about moved in! 

The Second Bedroom, Previously Used as An Office, Reclaims Its Function

The second bedroom used to be set up as an office, but now it’s staged to show that it can sleep two. And the bright colors and mirrors emphasize the ample natural light and give a feeling of fun. 

The Open Lower Level Gains Three Functional Spaces…And The Office Returns

The lower level is big and spacious. But it’s hard to determine how to make the best use of it unless this is not illustrated. So three functional areas were set up by the stager. There is an office with a window. There is a beautiful seating area with a fireplace and sliders that go to the outside along with a bookshelf area. And there is a beautiful exercise area. The three functional areas are visually separated yet also linked together with matching colors and a consistent design theme, in this case, horses!

The Staging Strategy Accomplished Four Key Objectives

  • Show the ideal use of the space.
  • Highlight the assets.
  • Evoke a powerful and positive emotional response.
  • Create a fabulous setting and generate beautiful digital media that is strategically distributed to attract the largest matching pool of buyers.

Staging is just one component used in the successful sale of a home. Here’s the full story of selling a luxury condo in Westport CT.

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Thank you for your response. ✨

#stagingtips #RealEstate #SellFaster #DreamHome #DigitalMedia #PropertyMarketing


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Fairfield and Westport Real Estate Market: March 2024 🌱


Will the market bring March Madness? 🏡 😅

We’ve entered Daylight Savings Time, and Spring is so close, we can taste it! 🌱

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 February 2024.

Prices were up.

  • Sale prices averaged 100% of asking in Fairfield and 107% in Westport.
  • The median sale price in Fairfield was $820,000, up 37.8% compared to February 2023. The median sale price per square foot was up 6.5% to $373. In Westport, the median sale price was $1,600,000, down 1.5%, and the median sale price per square foot was $534, which was up 5.1% from last February.

Pace was down.

  • Days on market averaged of 56 days in Fairfield and 67 days in Westport, so two-to-three months in general.
  • Unit sales were down 21.1% in Fairfield and 40% in Westport compared to February 2023. Inventory was also down with just 111 single-family homes for sale in Fairfield and 77 in Westport.
  • The months of supply metric was up from February 2023 but still in the two-to-three-month range in both towns. This was the result of a slower rate of sales.

What does it mean?

The market in February showed continued low inventory which is the biggest rate-limiting factor right now. Buyer demand also continued despite the inventory shortage which maintained upward pressure on prices. But rates are back into the 6s, and there is pent up demand on all fronts for people to make a move to a better suited lifestyle.

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 to secure your new home. 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 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 still solid competition and a relatively short window before sellers accept offers. So you must be ready to make an informed decision if you see a home that meets your top criteria. 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? Will a little healthy March madness motivate you to make your move? Share your thoughts in the comments or send me a note below.

William Raveis Local Housing Data

FAIRFIELD SINGLE-FAMILY – FEBRUARY 2024


WESTPORT SINGLE-FAMILY – FEBUARY 2024

To review last month’s market report, click here.

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William Raveis Local Housing Data


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Fairfield and Westport Real Estate Market: February 2024 ❄️💫

As we plug away toward spring, let’s take a quick look at what happened in the first month of the year 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 January 2024.

Prices were up.

  • Sale prices averaged just under 100% of asking in Fairfield and 101% in Westport. This is about the same as January when both ratios were 100%.
  • The median sale price in Fairfield was $805,000, up 36.4% compared to January 2023. The median sale price per square foot was up 7.9% to $341. In Westport, the median sale price was $1,850,000, up 16.4%, and the median sale price per square foot was $482, which was up 15.4% from last January.

Pace was down.

  • Days on market increased from 48 in November to an average of 63 days in Fairfield and 74 days in Westport. This is approximately 30% more time on the market than last December in both towns.
  • Unit sales were down 13.5% in Fairfield and 5% in Westport compared to January 2023. Inventory was also down with just 100 single-family homes for sale in Fairfield and 83 in Westport. There were seven new listings in Fairfield and six in Westport at the time of this post.
  • The months of supply was up from January 2023 but still in the two-to-three-month range in both towns. This is the result of a slower rate of sales, and due to an influx of homes coming on the market. 

What does it mean?

The market in January showed the continued trend of low inventory with ongoing buyer demand which maintained upward pressure on prices.

Bottom line.

People buy and sell in every season and in every market. So you can embrace your new lifestyle goals if now is the right time 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.

When you are selling, your agent will guide you on the strategy 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 still solid 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 if you see a home that meets your top criteria. 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 think this year will be a better time for you to move than last year? Share your thoughts in the comments or send me a note below.

William Raveis Local Housing Data

FAIRFIELD SINGLE-FAMILY – JANUARY 2024


WESTPORT SINGLE-FAMILY – JANUARY 2024

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William Raveis Local Housing Data


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Fairfield and Westport Real Estate Market: JANUARY 2024💥


Happy New Year! 🎉

As we dive into 2024, let’s take a quick look at what happened in December in our local Fairfield and Westport markets. If you’re curious which homes sold, take a look at the What Sold Reports, and if you love the charts 📊, scroll down. ⬇️

Here’s what happened in December 2023.

Prices were up.

  • Sale prices averaged 102% of asking in Fairfield and 103% in Westport. This was an increase from November when both ratios were 100%. Most homes, (57% in Fairfield and 70% in Westport), sold above the asking price, and more than 90% of the sales sold for over 95% of the asking price.
  • The median sale price in Fairfield was $1,010,000, up 41.3% compared to December 2023. The median sale price per square foot was up 12.2% to $421. In Westport, the median sale price was $1,750,000, up 2.9%, and the median sale price per square foot was $605, which was up 38.3% from last December.

Pace was down.

  • Days on market increased from 48 in November to an average of 63 days in Fairfield and 74 days in Westport. This is approximately 30% more time on the market than last December in both towns.
  • Unit sales were down 17.3% in Fairfield and 37% in Westport compared to December 2022. Inventory was also down with just 88 single-family homes for sale in Fairfield and 58 in Westport. There were seven new listings in Fairfield and six in Westport at the time of this post.
  • The months of supply was up from December 2022 but still in the two-month range in both towns. This is the result of a slower rate of sales, and due to an influx of homes coming on the market. 

What does it mean?

The market in December demonstrated more of what we saw all year. Low inventory with buyer demand maintained the upward pressure on prices and limited the pace of sales.

The good news was that rates began to tick downward in November, and there were some signs that the market might start moving in a more balanced direction. At the time of this post, you could get a 30-year Fixed Jumbo at 6.625% and 30-year FHA for 6.125% from William Raveis Mortgage. This pointed to us being past the peak of interest rates.

Udate 1/11/24: The National Association of Realtors Chief Economist Lawrence Yun forecasts an improved housing market in 2024. He said, “The demand for housing will recover from falling mortgage rates and rising income. In addition, housing inventory is expected to rise by around 30% as more sellers begin to list after delaying selling over the past two years.”

As we head into the New Year with rates ticking downward, more sellers may be ready and willing to enter the market. With the improved affordability from these lower rates and new listings to choose from buyers should be able to appreciate more options. So, if you have been waiting to make your move, now is a good time to get ready to do so.

Bottom line.

People buy and sell in every season and in every market. So you can embrace your new lifestyle goals if now is the right time 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.

When you are selling, your agent will guide you on the strategy 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 still solid 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 if you see a home that meets your top criteria. 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 think this year will be a better time to move than last year? Share your thoughts in the comments or send me a note below.

William Raveis Local Housing Data

FAIRFIELD SINGLE-FAMILY – DECEMBER 2023


WESTPORT SINGLE-FAMILY – DECEMBER 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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Fairfield and Westport Real Estate Market: December 2023

Go to JANAUARY 2024 Report

Is there a new trend emerging?

Happy Holiday Season! The November numbers are in. As 2023 comes to a close, let’s take a look at what happened in our local Fairfield and Westport markets in November. For a list of all the single-family sales, explore the What Sold Reports. If you love the visuals, charts await you below! ⬇️

Here’s what happened in November:

Prices.

Sale prices averaged 100% of asking in both Fairfield and Westport. This is down from 102-103% in October suggesting a slight shift toward a more balanced playing field between buyers and sellers. The seller market was still strong though, with more than half the homes selling above asking price and the majority homes selling for over 95% of the asking price.

The median sale price was 13% lower year over year in Fairfield, likely due to a mix of sales that included more smaller homes. In Westport, the median sale price was up 9.7%. The median sale price per square foot was up in both towns compared to November 2022.

Pace.

The time on-market averaged 48 days in Fairfield and Westport, which was shortest November market time in the past three years.

Unit sales were down 11.1% in Fairfield and up 8.7% in Westport. There were eight new listings in each town at the time of this post. Inventory was up very slightly in Fairfield (3.1%) but down 12.5% in Westport.

There were approximately three months of supply in both towns, (2.78 months in Fairfield and 3.32 months in Westport). This metric shows that we are still in a sellers’ market given that a balanced market has closer to a six-month supply. However, the market is not as extreme in the seller’s favor as it was when the supply was in the two-month range in March (Westport) and April (Fairfield).

What does it mean?

There are some signs that the real estate market may be moving toward a more balanced state given that market activity is resulting in a sale to list ratio of 100% (versus way above) and that the supply is hovering in the three-month range.

Rates, ratio, and supply may suggest a shift toward a more balanced market. But this does not appear to be a clear trend yet, and market time is still quite short, so we will have to wait and see.

If you plan to buy 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!

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.

Bottom line

Eighty-nine homes sold in December 2022, meaning that 178 parties made a successful move during this holiday month last year. So we can expect a good amount of serious people making successful moves this December as well. Do you plan to be one of them?

People buy and sell in every season and in every market. So you can embrace your new lifestyle goals if now is the right time 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 – NOVEMBER 2023


WESTPORT SINGLE-FAMILY – NOVEMBER 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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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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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!

← Back

Thank you for your response. ✨

William Raveis Local Housing Data