Fairfield CT Real Estate Weekly Market Statistics & Report 11/8/11

FAIRFIELD CT HOMES:  A pretty good week for Fairfield! The median list price in Fairfield is $532,450.  As of this morning, there are 482 homes that are actively on the market. They have been available an average of  118 days and are listed at an average price of $1,191,928. The highest priced home for sale in town is listed at $25,500,000 and the lowest priced available single family home is $129,900.

SINGLE FAMILY HOME INVENTORY based upon the current absorption rate: 12.36 months, and is up slightly again from last week. The goal for a neutral market in Fairfield is six months.

Seventeen new listings came on the market this week, and three homes came back on the market after being under deposit.  There were 23 properties that had a price change. Fifteen properties have gone under the initial deposit stage, which we call CTS, and seven 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 properties was $738,114 and their average market time  was 52 days.

CLOSINGS: Eight properties were reported as sold this past  week, and they had an average list price of $548,538  and  were on the market an average of  84 days. There were 109 status changes in the last week.

FAIRFIELD CT CONDOS: The median price for a condo in Fairfield is $347,509. The  67 condominiums that are available have been  listed an average of  115 days, and have an average price of $468,015. 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: 11.33 months, and is up  from last week. The goal for a neutral condominium market in Fairfield is 7-7.5 months.

Four new listings came on the market this week,  and one home  came back on the market. One property had a price change. In the last week, three properties went into CTS status,  and one property went into pending status.

CLOSINGS: Four properties were reported as closed in the last week and their average list price was $309,850 and they were on the market and average of 50 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 126 homes or apartments available. The median monthly price is $1,887 and the average price is $3,252 per month. These year round rental opportunities have been on the market an average of 59 days.

There are four seasonal or summer rentals  available throughout Fairfield that have been on the market an average of  190 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.

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