Fairfield and Westport CT Real Estate Guide

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

Tag Archives: Westport CT real estate


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Fairfield and Westport Real Estate Market: September 2023

Hello Fairfield and Westport!

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

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

FAIRFIELD SINGLE-FAMILY – AUGUST 2023


WESTPORT SINGLE-FAMILY – AUGUST 2023

William Raveis Local Housing Data

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

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

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

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

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

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

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

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

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

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William Raveis Local Housing Data


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August 2023 Real Estate Update: Summer Market Trends in Fairfield & Westport CT

Hello Fairfield and Westport!

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

I am seeing some buyer resistance to prices due to the added expense of current interest rates. However, the imbalance of supply and demand still keeps us in a seller’s market despite the rising rates. Here’s the latest market update.

The charts below show a summary of what happened in July 2023 compared to last July. My What Sold Reports include a list and summary of all the single-family homes that sold in July 2023 in Fairfield and Westport Connecticut.

FAIRFIELD SINGLE-FAMILY – JULY 2023


WESTPORT SINGLE-FAMILY – JULY 2023

William raveis Local Housing Data

Low inventory and strong buyer demand continue to push prices of many homes higher and also limit the overall market pace in Fairfield and Westport.

Here are six key points to understand about the market in July this year compared to last July.

  1. INVENTORY WAS DOWN 13 – 14% in the two towns.
  2. UNIT SALES WERE DOWN 39% in Fairfield and UP 6% in Westport.
  3. SALE PRICES AVERAGED 104% – 105% of asking in both towns.
  4. ACCEPTED OFFERS COMPARED TO ACTIVE LISTINGS REMAINED HIGH at 27% of active listings in Fairfield and 15% in Westport. Although these are lower percentages than in July of 2020 through July 2022, the accepted offer levels were still significantly higher than those of July 2019 pre-pandemic; double in Fairfield (13%) and triple in Westport (5%)!
  5. MARKET TIME INCREASED to a range of 36 – 50 days to contract.
  6. CASH DEALS comprised 36% and 38% of the sales in July in Fairfield and Westport respectively.


When you are buying in this market, you want to be prepared to come in with a competitive offer. This includes being prepared with a mortgage pre-approval or proof of funds in hand so you can make an offer quickly when you see a home you want! Remember, there’s a 36-38% chance you may be competing with cash offers, so you will want to do everything you can to present a competitive offer. The good news is that new listings are coming to the market each day.

If you are selling a home that you paid cash for, you can look forward to a high sale price and maximum equity!

There are multiple offers on some properties, while others receive just one, and some will even have a price reduction if the initial price was too ambitious. Homes on average were still selling above the asking price in July. Some are selling for full price, some above, and some are selling below. It depends on the demand for the individual property.

Bottom line: Now is a still a great time to sell! Buyer demand remains high. Inventory is still low. As a buyer in this market, you can anticipate increased equity from price appreciation that is expected to continue. New listings continue to come to the market each day. Rates may also come down enabling you to refinance. Committing to the process will get you to your new home!

Reach out to me anytime with your questions about the market and to discuss your plans.

Not ready to think about your move yet? Please refer your friends to me using the form below. Referrals are a win-win!

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Thank you for your response. ✨

William Raveis Local Housing Data


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Real Estate News – What Sold in September 2022: Fairfield & Westport CT

September 2022 housing numbers are in! How does September compare to the prior month, is there a slow down, and WHAT SOLD?? Curious what your home is worth?

Find out what happened in our local markets by downloading your free WHAT SOLD report with everything that sold in Fairfield and Westport in the previous month here. If you would like the report for another town, send me a request in the form below, and I will get it to you.

So, what are the numbers, Linda?

In Fairfield, September unit sales were down by 25 from August. The ratio of sale price compared to the list price was down two percent since August. The median sale price was also down, but the median days on market was the same.

In Westport, unit sales were down by 14 from the prior month. Sale price-to-list-price ratios averaged two percent lower than in August. The market time was up by 4 days compared to August.

Comparing September vs August,

Both towns saw fewer sales and sale prices closer to the asking price in September compared to August. The median sale price was lower in Fairfield and higher in Westport in September vs August. Market time was unchanged in Fairfield and longer in Westport.

Comparing September 2022 vs 2021,

Comparing September year over year, unit sales were down in both towns this year. The median sale price is still up from 2021. Market time was down in Fairfield and a few days longer in Westport.

Quick scoop on market status

FAIRFIELD – September 2022 vs August

Single-Family Homes

Units Sold: DOWN, 55 (vs 80)

Median Sale Price: DOWN, $853,000 (vs $908,000)

Average Sale vs. Asking Price: DOWN, 101% (vs 103%)

Median Days on Market: SAME 32 (vs 32)

Fairfield 2022 vs 2021

Units Sold: DOWN 27% (55 vs 75)

Median Sale Price: UP 4% ($853,275 vs. $820,000)

Days on Market: DOWN 25% (30 vs. 40)

WESTPORT – September 2022 vs. August

Single Family

Units Sold: DOWN, 34 (vs 48)

Median Sale Price: UP, $2,002,500 (vs $1,949,500)

Average Sale vs. Asking Price: DOWN, 101% (vs. 102%)

Median Days on Market: UP, 39 (vs 35)

Westport 2021 vs 2022

Units Sold: DOWN 17% (35 vs 42)

Median Sale Price: UP 41% ($2,080,000 vs $1,475,000)

Days on Market: UP 12% (37 vs 33)

Wondering if now’s a good time to make a move?

Curious what your home is worth?

You may also be wondering if prices will be coming down and if you should make a move now. For monthly charts showing more market parameters in your towns of interest, take a look at the Raveis Local Housing Data, and contact me to discuss the market and your plans.

If you’re thinking of making a move in the next 12 months or have any questions, call directly or send a note to Linda Raymond below.

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Thank you for your response. ✨

#RealEstateMarketJuly2022 #HousingPrices #HomeValues #HomeAppreciation #HomeBuying #HomeSelling #FairfieldCTRealEstate #WestportCTRealEstate #WilliamRaveisRealEstate #YourCastleMyMission #LindaRaymondRealEstate


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Linda’s What Sold Report: August 2022, Fairfield & Westport CT

August 2022 housing numbers are in! How does August compare to the prior month, and WHAT SOLD??

Click image for Instagram Reel with Linda’s quick market update at the end of August!

Find out what happened in our local markets by downloading your free WHAT SOLD report with everything that sold in Fairfield and Westport in the previous month here. If you would like the report for another town, send me a request in the form below, and I will get it to you.

So, what are the numbers, Linda?

In Fairfield, unit sales and market time were down a bit from July. The average sale-to-list price ratio was down two percent since July. In Westport, unit sales were up by four from the prior month. Sale prices averaged 102% of the list price which was four percent lower than it was in July. The market time was up by 15 days compared to July. Homes were selling closer to the asking price in August in both towns compared to July.

FAIRFIELD – August 2022 vs July

Single-Family Homes

Units Sold: 80 (vs. 89)

Median Sale Price: $908,000 (vs. $899,000)

Average Sale vs. Asking Price: 103% (vs. 105%)

Median Days to Contract: 32 (vs. 35)

WESTPORT – August 2022 vs. July

Single Family

Units Sold: 48 (vs. 44)

Median Sale Price: $1,949,500 (vs. $2,080,000)

Average Sale vs. Asking Price: 102% (vs. 106%)

Median Days to Contract: 35 (vs. 20)

Wondering if now’s a good time to make a move?

You may be wondering if prices will be coming down and if you should make a move now.

For monthly charts showing more market parameters in your towns of interest, take a look at the Raveis Local Housing Data, and contact me to discuss the market and your plans.

If you’re thinking of making a move in the next 12 months or have any questions, call directly or send a note to Linda Raymond below.

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Thank you for your response. ✨

#RealEstateMarketJuly2022 #HousingPrices #HomeValues #HomeAppreciation #HomeBuying #HomeSelling #FairfieldCTRealEstate #WestportCTRealEstate #WilliamRaveisRealEstate #YourCastleMyMission #LindaRaymondRealEstate


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What Sold in Fairfield & Westport CT in July 2022, and Should You Make a Move?

July 2022 Numbers are in! How does July compare to the previous month, and WHAT SOLD?!

Find out what happened in our local markets by downloading your free WHAT SOLD report with everything that sold in Fairfield and Westport in the previous month here. If you would like the report for another town, send me a request in the form below, and I will get it to you.

So, what are the numbers, Linda?!

In Fairfield, unit sales and market time were up a bit, and the median sale price compared to the asking price was down slightly compared to June. In Westport, unit sales were down from June, and the percentage over asking was also not as high as it was in June. The median days on market were almost the same. If you glance at the two graphs below, you will see the continued trend of upward appreciation of home values in both towns.

FAIRFIELD – July 2022 (vs. June)

Single-Family Homes

Units Sold: 89 (vs. 84)

Median Sale Price: $899,000 (vs. $935,500)

Average Sale vs. Asking Price: 104% (vs. 105%)

Median Days to Contract: 35 (vs. 22)

Fairfield Median Sale Price Trend: 3-Month Averages

WESTPORT – July 2022 (vs. June)

Single Family

Units Sold: 44 (vs. 61)

Median Sale Price: $2,080,000 (vs. $2,076,500)

Sale vs. Asking Price: 103% (vs. 108%)

Median Days to Contract: 20 (vs. 21)

Westport Median Sale Price Trend: 3-Month Averages

Wondering if now’s a good time to make a move? (Mark, pictured above, sure is!)

You may be wondering if prices will be coming down and if you should make a move now.

For monthly charts showing more market parameters in you towns of interest, take a look at the Raveis Local Housing Data, and contact me to discuss the market and your plans.

If you’re thinking of making a move in the next 12 months or have any questions, call directly or send a note to Linda Raymond below.

← Back

Thank you for your response. ✨

#RealEstateMarketJuly2022 #HousingPrices #HomeValues #HomeAppreciation #HomeBuying #HomeSelling #FairfieldCTRealEstate #WestportCTRealEstate #WilliamRaveisRealEstate #YourCastleMyMission #LindaRaymondRealEstate


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What Sold in Fairfield & Westport CT in June 2022, and Should You Make a Move?

June 2022 Numbers are in! How did June compare to the previous month, and what sold?

What happened in the Fairfield housing market in June compared to the prior month?

Find out what happened in our local markets by downloading your free WHAT SOLD report with everything that sold in Fairfield and Westport in the previous month here. If you would like the report for another town, send me a request in the form below, and I will get it to you.

Wondering if now’s a good time to make a move?

You may be wondering if prices will be coming down and if you should make a move now. Take a look at the Raveis Local Housing Data, and contact me to discuss the market and your plans.

FAIRFIELD June 2022

Single-Family Homes

Units Sold: 84

Median Sale Price: $935,500 (range $355,000 – $8,812,500)

Average Sale vs. Asking Price: 105%

Median Days to Contract: 22

WESTPORT June 2022

Single Family

Units Sold: 61

Median Sale Price: $2,076,500 (range $621,000 – $9,700,000)

Sale vs. Asking Price: 108% (range 85% – 149%)

Median Days to Contract: 21

If you’re thinking of making a move in the next 12 months or have any questions, call directly or send a note to Linda Raymond below.

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SOLD and Accepted Offers in Fairfield Downtown and Westport Greens Farms, November 2021

Where did the market go in November? The Westport and Fairfield town-wide sales pace in November, though below that of last November 2020 coming off the Covid spike, was still above that of 2019. Inventory dipped below two-months of supply in Fairfield and stayed at three months of supply in Westport. Low inventory continued to be the most significant limiting factor, and multiple-offers were still happening with many listings. The median sale price in Fairfield was 12% below November 2020 numbers and was up 25% in Westport. Days on market averaged 49 days in Fairfield and 63 in Westport.

Alert: Rates are still amazingly low right now!

Check rates here

Move Now, or Wait ‘Till Spring?

Purchasing a home now can award instant equity in addition to exponential savings over the life of a mortgage if home values continue to appreciate and rates begin to creep up as projected by economic experts. Waiting until next year to buy a home could result in a more expensive purchase. Homeowners that sell now can benefit from a larger buyer pool than next year when homes will be more costly for buyers if interest rates increase. Sellers have much less competition in the winter months than during the spring market, and buyers in the winter are very serious.

If you are like many others who want to sell but are still on the fence, this winter still offers an excellent opportunity to make your move. Interest rates and inventory are still low, and buyer demand is still extremely strong. You are right to seek an expert guide to help you put your strategy in place to reach your goal! Call me today to discuss your plans ==> (203) 912-4440.

What Happened in November in these two hot spots, downtown Fairfield and Greens Farms Westport?
Check out the following lists of the homes that sold and where homeowners accepted offers. The big charts also show the town-wide stats.

FAIRFIELD DOWNTOWN – Within a one-mile radius of the downtown train.

Below are the 12 single-family closings and seven new accepted offers in downtown Fairfield in November.

SOLD:

NEWLY ACCEPTED OFFERS:

Take a look at the Fairfield town-wide stats from the William Raveis Local Housing Data. Send me a note below if you would like the link to add the LHD shortcut to your phone!

WESTPORT GREENS FARMS

There were three single-family sales and one accepted offer in November in Greens Farms.

SOLD:

NEWLY ACCEPTED OFFERS:

Take a look at the Westport town-wide stats from the William Raveis Local Housing Data. Send me a note below if you would like the link to add the LHD shortcut to your phone!

Call me if you are thinking of making a move in the next 12 months, and we will have a 15 minute consultation to discuss your goals, the market, and whether I can help ===> (203) 912-4440.

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SOLD and Accepted Offers in Fairfield Downtown and Westport Greens Farms, October 2021

Looking at how the market did in October… The Westport and Fairfield town-wide sales pace in October slowed a bit from the previous month, consistent with the seasonal trend, and was also down significantly compared to the Covid spike in October 2020, but the sales pace was still above the same time of year in 2019. Inventory remained at two-months of supply in Fairfield and three months in Westport. Low inventory continued to be the most significant limiting factor in these markets. The median sale price was within 2-3 percent of October 2020 numbers and remained significantly higher than in 2019. Market time was still brisk ensuring a constant refresh of available homes for sale.

Industry experts predict continued appreciation of property values and rising interest rates next year.
Purchasing a new home now can award instant equity in addition to exponential savings over the life of a mortgage. Waiting until next year to make a purchase can result in a more expensive purchase. Homeowners that sell now benefit from a larger buyer pool than next year when homes will be more costly for buyers if interest rates go up.

If you are like many others who want to sell but are still on the fence, this fall continues to offer an excellent window to make your move. Interest rates and inventory are still low, and buyer demand is still strong. You are right to arm yourself with an expert guide to help you put your strategy in place to reach your goal! Call me today to discuss your plans ==> (203) 912-4440.

What has sold in these two hot spots?
Where are the accepted offers in October and the beginning of November? Check out the scoop below and take a look at the charts showing the town-wide data.

FAIRFIELD DOWNTOWN – Within a one-mile radius of the downtown train.

Looking at single-family sales, there were 14 closings in October. Market activity showed 16 new accepted offers, including three condominiums and one commercial building in October through November 8th in Fairfield’s downtown and beach area.

SOLD:

NEWLY ACCEPTED OFFERS:

Take a look at the Fairfield town-wide stats from the William Raveis Local Housing Data. Send me a note below if you would like the link to add the LHD shortcut to your phone!

WESTPORT GREENS FARMS

There was one single-family sale October in Greens Farms. There were four new accepted offers, all single-family homes between $1-4 million, in Westport’s Greens Farms neighborhood through November 8th.

SOLD:

NEWLY ACCEPTED OFFERS:

Take a look at the Westport town-wide stats from the William Raveis Local Housing Data. Send me a note below if you would like the link to add the LHD shortcut to your phone!

Call me if you are thinking of making a move in the next 12 months, and we will have a 15 minute consultation to discuss your goals, the market, and whether I can help ===> (203) 912-4440.

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SOLD and Accepted Offers in Fairfield Downtown and Westport Greens Farms, September 2021

Looking at how the market did in September… The Westport and Fairfield town-wide sales pace in September was slower than the previous month of August as well as the Covid spike in 2020, but the pace was still above sales in September 2019. Low inventory remained the strongest limiting factor. Our local housing markets in both towns progressed with strong sales and a continued increase in the median sale price during September.

In case you missed my end-of-summer video commentary on the Fairfield market!

If you are like many others who want to sell but are still on the fence, the fall season will continue to offer an excellent window to make your move. Interest rates and inventory are still low, and buyer demand is still strong. You are right to arm yourself with an expert guide to help you put your strategy in place to reach your goal! Call me today to discuss your plans, (203) 912-4440.

What has sold in these two hot spots? Where are the accepted offers in September? Check out the scoop below and take a look at the charts showing the town-wide data.

FAIRFIELD DOWNTOWN – Within a one-mile radius of the downtown train.

Looking at single-family market activity, there were 16 closings in September compared to 19 in August, and 13 new accepted offers in Fairfield’s downtown and beach area at the time this post was written.

SOLD:

NEWLY ACCEPTED OFFERS:

Take a look at the Fairfield town-wide stats from the William Raveis Local Housing Data. Send me a note below if you would like the link to add the LHD shortcut to your phone!

WESTPORT GREENS FARMS

There were 7 single-family sales in September compared to 10 in August. There were two new accepted offers in Westport’s Greens Farms neighborhood at the time of this post.

SOLD:

NEWLY ACCEPTED OFFERS:

Take a look at the Westport town-wide stats from the William Raveis Local Housing Data. Send me a note below if you would like the link to add the LHD shortcut to your phone!

Call me if you are thinking of making a move in the next 12 months, and we will have a 15 minute consultation to discuss your goals, the market, and whether I can help ===> (203) 912-4440.

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SOLD and Accepted Offers in Fairfield Downtown and Westport Greens Farms, August 2021

Looking at the market activity in August… The Westport and Fairfield town-wide sales pace in August showed an up-tick from the previous month of July, and was also up from unit sales in August 2019, despite a dip in numbers compared to the Covid spike in 2020. This is likely due to many people taking advantage of vacation opportunities in July. The local housing markets continued with strong sales and high prices in both Downtown Fairfield and Greens Farms Westport during August.

My end-of-summer video commentary on the Fairfield market!

If you are like many others who want to sell but are still on the fence, September will continue to offer an excellent window to make your move. Interest rates and inventory are still low, and buyer demand is still strong. Rates may creep up heading into fall! You are right to arm yourself with an expert guide to help you put your strategy in place to reach your goal! Call me today to discuss your plans, (203) 912-4440.

What has sold in these two hot spots? Where are the accepted offers in August? Check out the scoop below!

FAIRFIELD DOWNTOWN – Within a one-mile radius of the train.

There were 21 closings in August compared to 25 in July and 10 new accepted offers in Fairfield’s downtown and beach area at the time this post was written.

SOLD:

NEWLY ACCEPTED OFFERS:

Take a look at the Fairfield town-wide stats from the William Raveis Local Housing Data. Send me a note below if you would like the link to add the LHD shortcut to your phone!

WESTPORT Greens Farms

There were 10 sales in August compared to seven in July. There was one new accepted offer in Westport’s Greens Farms neighborhood in August, and a few more had just gone to contract.

SOLD:

NEWLY ACCEPTED OFFERS:

Take a look at the Westport town-wide stats from the William Raveis Local Housing Data. Send me a note below if you would like the link to add the LHD shortcut to your phone!

Call me if you are thinking of making a move in the next 12 months, and we will have a 15 minute consultation to discuss your goals, the market, and whether I can help. —> (203) 912-4440

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