Fairfield and Westport CT Real Estate Guide

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

Tag Archives: William Raveis Real Estate


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How’s the Summer Real Estate Market 2015 in Fairfield and Westport CT

So how’s the summer real estate market in Fairfield and Westport Connecticut? Are sellers listing their homes?  Are buyers making offers?  Here’s the summer 2015 scoop in Fairfield and Westport with a spotlight on the Fairfield beach and Greens Farms areas.

As of last week, there were a lot of single family homes on the market in Fairfield, 633 to be exact, compared to 542 at the end of July last year!  Fourteen percent (14%) of these houses had accepted offers. This is great compared to only 9% with binders last July.

The beach area market was not quite as strong as the town-wide market, with 12% of listings securing offers.  However, this ratio was more positive than last summer when the beach area’s home sellers accepting offers matched the town-wide tally of 9%. Of the 15 beach area homes with offers, seven were priced over $1 million, four were between $600,000 and $1 million and four were under $600,000. So there was a good range of prices.

Re-incarnation in the Fairfield Beach Area

Click Image for Flipogram!

845 Fairfield Beach Rd

Click Image for Full Listing!

Beach area new construction was exceeding the town’s ratio, with five accepted offers out of 30 listings, or 17%.  Click the image above for a representative view of the construction going on all over the beach area right now.  Direct waterfront in the beach area demonstrated more sluggish activity than the rest of the beach area and town with a 10% ratio of offers to active listings, that’s 4 out of 39.

Westport inventory was also high with 402 houses for sale compared to about 350 in July last year.  This season’s market was slightly more positive than in July 2014 with 7% of listings taking offers compared to 6%.

Greens Farms was a hot subset of the Westport market, with 12% of the 49 listings securing acceptable offers.  Half of the six offers were listed above $1 million and half below.

2 Hedley Farms Rd

New construction listings in Greens Farms weren’t moving as fast as the rest of the neighborhood with one binder out of 12 listings, or 8%.

So yes, sellers are listing their homes, and buyers are bidding on them.  The ratio of accepted offers to active listings is a leading indicator of what’s to come, and this summer it’s shown variablility based on town, neighborhood, and property type.
As always, pricing your home competitively and staging it for maximum appeal will attract buyers to your listing.  There’s still time before August vacations to get your price right if you’re selling and get your bid in if you’re buying.  Be sure to check out the featured homes for sale below!

Buy one this summer!

Buy one this summer!

New Construction on the Beach, Fairfield – $2,545,000 New price!
Summer Beach Cottage, Fairfield – $1,245,000 New price!
Carefree Beachfront Condo, Fairfield – $915,000 See Quick-Film!
Like-New Home at the Beach, Lordship – $879,000 New Price!
Bright Beach Area Colonial, Fairfield – $625,000 Off the market, sale pending!
Charming Cape, Convenient Location, Fairfield –  Off the market to be rented starting October 1st.

Feel free to contact me any time with questions, showing requests or for a complimentary market analysis of your home.

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Open House Dates and Property News!

Hi All,

I wanted to alert you to a couple of Open House and property updates. Click the images for more info.

There will be an Open House Sunday, January 24th, 2016,  from 1 to 3 pm at 25 York Street in Lordship / Stratford. This home sits across from Russian Beach with water views from every room and is minutes to Short Beach with the gorgeous golf course, as well as Long Beach. Asking price is $859,000.

SUNDAY OPEN HOUSES!

 

 

 

 

 

 

 

For turnkey and carefree living at the beach, consider 10 Pine Creek Avenue 401W at Kensie Point.  The next open house will be February 28, 2016, from 1 to 3 pm. This is beachfront living at it’s best with water views from every room and four balconies, elevator access right to your foyer, two bedrooms two full baths, an office space, central air and a furnished private beach garden- all for $845,000.

10 Pine Creek Ave 401W at Kensie Point

 

 

 

 

 

 

Contact me anytime with questions or to request a showing!

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How Could the “Wrong Direction” Seem So Right?

That’s what my relocation client asked me as we went to visit five drop-dead gorgeous homes in Fairfield Connecticut.

Ping and her family were moving from South Carolina to pricey Fairfield County.  Although the home sizes were not quite as grand here as what they were used to, I could sense a growing excitement about Fairfield as I shared some impressive numbers including our 11 elementary, three middle and two high schools, five beaches and three train stations.

The Chelsea Restaurant, Fairfield CT

The Chelsea Restaurant, Fairfield CT

A few added highlights like our huge Fourth of July celebration at Penfield Beach, the superb beet salad at The Chelsea and the crazy dog beach at Lake Mohegan didn’t hurt either.   The visual tour was the icing on the cake!

Ping and her husband Danian both worked for the same company in South Carolina.  She took a new job nearby, and he was able to stay with his company and transfer here. Their son and daughter would be going to elementary school.

New home in Fairfield CT

New home in Fairfield CT

The location of the home they chose in the university area was perfect.  Their kids could walk to school.  And when Danian’s parents came to visit, they could walk there with them. They were situated on a wonderful cul-de-sac and already had an elaborate play set in the back yard.  The house was stunning inside and out.  It was beautifully finished on four levels and came complete with a beautiful in-law suite.  And if all that wasn’t enough, the garage was fully equipped with cabinetry and a high-end custom flooring that looked like you could eat off it!

How can something so wrong seem so right?   Welcome to Fairfield!

Congratulations

Congratulations!

Feel free to comment on this post and reach out to me with your questions and real estate needs. – Linda

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Pricing Your Home Right

Here are a few true stories that occurred in May of 2015.  Three comparable university area homes for sale in Fairfield Connecticut accepted offers.  The properties and prices were similar in scope, but the paths the sellers took to get an offer were quite different.   I’ll assign each house a color instead of using the address to protect privacy.  I am privy to the information because my buyers bid on all three of these homes.

White House

A White house with 2,293 square feet, four bedrooms and two and a half baths on .31 acres came on the market for $675,000 the previous November.  The listing canceled and put back on the market as a new listing for the same price in January 2015.  Over the next 130 days the price was reduced to $669,000 and then 649,000.  It was newly listed again in May for $625,000.  The sellers accepted an offer of $610,000 which was 97% of their final asking price but 90% of their original price from more six months prior.

green house

A Green house was listed in March for $650,000.  It had 2,352 square feet, two and a half baths on .49 acres.  The price was reduced to $619,000 and then to $610,000 and was ultimately re-listed with a new price of $600,000. Less than two weeks later, the sellers received multiple full price offers for $600,000.  The sellers got 100% of their final asking price, but 92% of their original list price.

On May 12, homeowners listed a Red house for sale with 2,164 square feet, three bedrooms and two baths on .22 acres for $619,000 and accepted an offer the next day!

Since the two homes above sold for 97-100% of their final asking price, and the average sale-list ratio in Fairfield from January to mid-May was 97%, my guess is that the sellers got very close to their asking price, and in one day, not bad!REd House

So what are the take-aways?

Price: You won’t get more by pricing your house much higher than market value.  Remember you have to sell your house three times- to the buyer’s agent, to the buyer, and to the appraiser. Buyers may be attracted to your house based on emotion, but their final decision is based on the market data that their Realtor provides to them.

Time: The higher above market value you price your house, the longer it will take to sell, and remember, time is (taxes, utilities, insurance, repairs, maintenance, personal time and energy…) money!  The stories above show that in this price range, a list price of 8-10% above the market value is too high to attract an offer.

Since the market is what determines your property’s value, not your personal finances (or Zillow!), price your house within 5% of, or right at market value.  This way you can enjoy a fast sale at a fair market price, and get to where you want to go sooner rather than later!

Feel free to contact me for a pricing recomendation and custom marketing plan or any questions you may have about the buying and selling process.   I’m here to help!

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Last Local Housing Market Update for the Year, Plus Some Holiday Bloopers!

As we head towards the final holiday week before the New Year, I wanted to give you the current housing market snapshot.   I’ll give you the full-year summary once we are well into Q1 of 2015 and all the numbers are in.  So here’s the scoop for now-

Inventory of homes for sale was up in Fairfield (21%), Westport (16%) and Weston (6%) at the end of November compared to 2013.

Sales were down in Fairfield (-25%) and Weston (-30%), but up thirteen percent in Westport compared to November last year.

Even though sales dipped in Fairfield in November, the average days on market was 24% less than it was a year ago (99 vs. 131).  However the average market time was up nineteen and twenty percent respectively in Weston and Westport.

Click here to see tables with more detailed information. Let’s see what happens in the New Year.   My phone has been known to ring on January 1!

In the spirit of holiday entertaining fun, why not enjoy some cooking bloopers from Martha Stewart. Happy Holidays, and send in any questions or request you may have below!

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Linda Raymond, Realtor
William Raveis Real Estate
2525 Post Road
Southport, CT 06890
203-912-4440 direct

LoPumpkin Houseoking at unit sales and the average sale price for single family homes in Westport, Weston and Fairfield, there appeared to be a similar trend across the three markets as of the end of September.    Unit sales were down, but the average sale price was up.

In Westport, there were 26 sales in September which was down from 39 from last year and 50 in the previous month.  Year to date sales were 291, down 19.6% from 362 last year at this time.  However the average sale price in September was $1,510,448 which was up 5.7% from last September.  So far this year, the average sale price was $1,566,866 which was 1.9% higher than last year.

There were 54 sales in Fairfield in September which was well below the 77 units in August but just 1.8% below the 55 sales in September 2013.  Year-to-date sales were down 7.6% with 523 vs. 566 last year.  Prices followed a very similar trend to Westport with the year over year value up 5.9% for the month of September and just a slight increase of 1.6% for the year to date average sale price of $723,563.

Weston had the most significant reduction in unit sales of the three towns in the month of September but showed a better tally for the year to date.  With seven sales in September compared to 16 the previous year and 21 in August, the good news was that for the year to date, sales were down just 11.6% (122 vs. 138).   The average price for sales in September was down slightly from August and down 12.8% from last September but followed the trend of the other two towns for the year to date average price, with a small increase over 2013 of 1.8%, resulting in $882,423.

Fall Image 2

Let’s wait and see if the activity catches up to last year.  Tell all your friends that are thinking about moving to go ahead and do it!  In the meantime, click to see a table of all the Housing Market Numbers each month from 2013 to 2014 through September.

If you would like specific market numbers on a neighborhood near you, just send a request below, and I’ll be happy to provide you with the information.

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Great Finds on Both Sides of Town!

Whether you know someone looking for a cute cape close to Black Rock Turnpike shopping and the new Fairfield Metro Center, or a proposed new construction on the beach near Fairfield’s bustling downtown scene and train, there’s a home for the taking!

Fairfield Metro StationHere are two featured properties for sale.  Scroll down for a link to browse all listings or request to have a search set up for you.

Beautiful Updated Cape, also for rent, in a super convenient location near ample amenities and the new train station! Some of the great features include three bedrooms, two full baths, vaulted ceiling family room with sliders, renovated kitchen, covered deck, central air, fully fenced and landscaped back yard with newly expanded shed and double driveways. Opportunity knocks!

A rare moment is here for you. Introducing Beach Life. Have your custom home built by world class craftsmen on a spectacular near-third acre stretch of beach with mature trees and high dunes! Deep sandy beach and 51 feet of beach frontage at the coast’s curve offer expansive views of the entire shoreline. Dreamy vistas of changing light, tides and the iconic Penfield Light House never lose their magic. Other multi-million dollar new homes nearby add to the great value and good company. Your home will be finished on three levels with a spacious carport underneath for two cars plus extra multi-use space and plenty of expansion potential. One of the very deepest and highest sections of beach five minutes from town, restaurants and train, and an hour from Manhattan is where you will call home. Get ready for your new beach life to begin!

Photo Oct 30, 11 37 20 AM    Photo Oct 30, 11 47 19 AM

 845 FFBR - elevation- 10 - 21 - 14  Photo Oct 30, 12 55 20 PM

 

 

 

 

Search for your home here or submit a request below.   I’m here to help. 🙂

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Dust and Pet Allergies? You Better Clean Your HVAC System!

I moved into my house 10 years ago and was wondering if getting all the dust and dirt out of the air ducts right out of the gate would be a good idea.  I always had allergies to dust and animals, and the previous owners had a cat.   After finding cat hair in the refrigerator, I figured there must be plenty in the air ducts!

But the days turned into months…. and 10 years later I’ve been thinking that cleaning my HVAC system is surely well past-due.   Then just as I was about to take action, I heard someone say that duct cleaning can actually loosen dust and make air quality worse.  I wanted to do whatever was likely to keep my surrounding air clean while spending as little money possible.  This article from House Logic had some helpful information that allowed me to be more comfortable with my decision to hold off again.

DUCTS

However, after several lousy nights of interrupted sleep due to clogged sinuses, I had to do something!

Air vent returns Before & After cleaning

Air vent returns Before & After cleaning

So I started by taking a quick look at the air vents and returns and the air filter even though it had been changed two month prior.  I was appauled by what I saw!  Filthy returns and a black air filter! No wonder dust was accumulating daily on every surface!  So I immediately changed the air filter and got on a ladder with my vacuum. What a difference this made!  Without cleaning my air ducts, the surfaces actually stayed clean, the air was cleaner, the furnace surely was running much more efficiently and as you may have expected, I had a great night’s sleep!

Feel free to comment or ask a question below.

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Find Your True Colors

Are you in the process of renovating, building new or just changing the colors in your home?  Maybe your room colors are still there from the first owners of your home and you would have changed them years ago if you only knew where to begin.

RUBIX CUBE

Check out these two great resources to help guide you to the perfect hue.  Start with a tour of different color schemes on HGTV’s website and how they create a range of energy levels or certain moods in various rooms.   Then visit Benjamin Moore’s site for a great downloadable guide to Color Language – Guide to Home Decorating.

You’ll find your true colors in no time, then go ahead and color your world!

COLORED PENCILS


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Visit this Lovely Fairfield Beach Area Home Sunday 10/5 Between 1 & 3 PM!

Come visit us and see this gorgeous home in the bustling Fairfield Beach area during our Open House tomorrow, Sunday October 5 from 1:00 to 3:00 PM!
Check all weekend O P E N   H O U S  E S here!

35 LALLEY
Request a showing or complimentary home valuation below.

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