Fairfield CT - Weekly Real Estate Market Statistics Report - October 4, 2011

FAIRFIELD CT HOMES:  The median list price in Fairfield is $563,500.  As of this morning, there is a slight dip in inventory to 479 homes that actively on the market. They have been available an average of  115 days and are listed at an average price of $1,230,005. The highest priced home for sale in town is listed at $25,500,000 and the lowest priced available single family home is $160,000.

The biggest price pocket in town continues to be between the $1-1.5 million dollar range, and these 59 homes comprise a little over 12 percent of the inventory.  

SINGLE FAMILY HOME INVENTORY based upon the current absorption rate: 9.97 months, and is up again 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 no homes came back on the market after being under deposit.  There were 23 properties that had a price change. Thirteen properties have gone under the initial deposit stage, which we call CTS, and eight properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. Average list price was $833,363 and their average market time  was 136 days.

There are currently 45 properties townwide in pending status, and their average price is $757,282.

CLOSINGS: Eighteen properties were reported as sold this past  week, and they had an average list price of $803,678  and  were on the market an average of 103 days. There were 107 status changes in the last week.

FAIRFIELD CT CONDOS: The median price for a condo in Fairfield is now  $359,900. The  72 condominiums that are available have been  listed an average of  119 days, and have an average price of $468,082. The highest list price for a condo in town is $1,075,110 and the lowest priced condominium available is $169,000.

CONDOMINIUM  INVENTORY based upon the current absorption rate: 12.53 months, and is down again from last week. The goal for a neutral condominium market in Fairfield is 7-7.5 months.

Two new listings came on the market this week,  and no homes  came back on the market. Three properties had a price change. In the last week, two properties went into CTS status,  and one property went into pending status, with an average market time of 63 days.

CLOSINGS: Two properties closed in the last week, and were listed at an average price of $524,000 and were  on the market for 77 days. There were 14 status changes for the week.

There are twelve condominiums townwide that are currently in Pending status. Their average list price is $429,724.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, there is a drop of 10 percent of inventory just over last week, and there are 119 homes or apartments available. The median monthly price is $2,100 and the average price is $3,519 per month. These year round rental opportunities have been on the market an average of 48 days.

There are four seasonal or summer rentals  available throughout Fairfield that have been on the market an average of  183 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.

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