Fairfield CT Real Estate Market Weekly Statistics Report - October 25, 2011

FAIRFIELD CT HOMES:  The median list price in Fairfield is $545,000 and is down for the second week in a row.  As of this morning, there are 485 homes that are actively on the market. They have been available an average of  115 days and are listed at an average price of $1,196,908. 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.

SINGLE FAMILY HOME INVENTORY based upon the current absorption rate: 10.35 months, and is virtually unchanged from last week. The goal for a neutral market in Fairfield is six months.

Sixteen new listings came on the market this week, and one home came back on the market after being under deposit.  There were 20 properties that had a price change. Ten properties have gone under the initial deposit stage, which we call CTS, and eleven 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 $782,500 and their average market time  was 135 days.

There are 47 pending single family homes townwide, and their average price was $737,644 and they were on the market was 146 days.

CLOSINGS: Eight properties were reported as sold this past  week, and they had an average list price of $533,413  and  were on the market an average of 153 days. There were 82 status changes in the last week.

FAIRFIELD CT CONDOS: The median price for a condo in Fairfield is $364,900. The  70 condominiums that are available have been  listed an average of  118 days, and have an average price of $471,085. 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: 11.67 months, and is up slightly 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. One property had a price change. In the last week, two properties went into CTS status,  and four properties went into pending status. Theit average market time was 196 days and were listed at an average price of $466,875

There are currently 14 condos in pending status townwide and are waiting to close. Their average price was $2396,057 and they were on the market an average of 134 days.

CLOSINGS: No properties were reported as closed in the last week. There were 12 status changes for the week.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, and there are 128 homes or apartments available. The median monthly price is $1,925 and the average price is $3,397 per month. These year round rental opportunities have been on the market an average of 55 days.

There are four seasonal or summer rentals  available throughout Fairfield that have been on the market an average of  204 days, and at an average price of $13,675. The median  price of both furnished and unfurnished seasonal rentals is $3,350.

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