Fairfield CT - Weekly Real Estate Market Statistics Report - October 11, 2011

FAIRFIELD CT HOMES:  The median list price in Fairfield is $564,000.  As of this morning, there is another  dip in inventory this week to 468 homes that actively on the market. They have been available an average of  115 days and are listed at an average price of $1,242,334. The highest priced home for sale in town is listed at $25,500,000 and the lowest priced available single family home is $129,000.

The biggest price pocket in town continues to be between the $1-1.5 million dollar range, and these 60 homes comprise a little over 23 percent of the inventory, and have been on the market an average of 112 days..  There are also 60 homes available in the $500-600,000 range and they have been on the market an average of 97 days.

SINGLE FAMILY HOME INVENTORY based upon the current absorption rate: 9.79 months, and down slightly from last week. The goal for a neutral market in Fairfield is six months.

Fourteen  new listings came on the market this week, and one home came back on the market after being under deposit.  There were 18 properties that had a price change. Seven properties have gone under the initial deposit stage, which we call CTS, and fourteen properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. Average list price on those pending properies was $634,671 and their average market time  was 124 days.

CLOSINGS: Twelve properties were reported as sold this past  week, and they had an average list price of $633,558  and  were on the market an average of 81 days. There were 87 status changes in the last week.

FAIRFIELD CT CONDOS: The median price for a condo in Fairfield has dropped about three percent sinc last week to $342,450. The  69 condominiums that are available have been  listed an average of  121 days, and have an average price of $460,094. The highest list price for a condo in town is $1,075,110 and the lowest priced condominium available is $159,900.

CONDOMINIUM  INVENTORY based upon the current absorption rate: 10.35 months, and is down again from last week. The goal for a neutral condominium market in Fairfield is 7-7.5 months.

Three new listings came on the market this week,  and no homes  came back on the market. Four properties had a price change. In the last week, four properties went into CTS status,  and three properties went into pending status, with an average market time of 41 days.

CLOSINGS: Four properties closed in the last week, and were listed at an average price of $699,965 and were  on the market for 76 days. There were 21 status changes for the week.


RENTALS: If you are looking to rent year round, either furnished or unfurnished, and there are 127 homes or apartments available. The median monthly price is $1,900 and the average price is $3,472 per month. These year round rental opportunities have been on the market an average of 52 days.

There are four seasonal or summer rentals  available throughout Fairfield that have been on the market an average of  191 days, and at an average price of $13,675. The median  price of both furnished and unfurnished seasonal rentals is $3,350.

Click here for FOURTH QUARTER real estate market advice.

SOURCE: Market Data is compiled from the GFC-CMLS and represents activity through our local MLS system. Private sales are not included.

If you have a question about buying or selling Real Estate in Fairfield, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :)   - Judy

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