Fairfield CT Real Estate Market Update December 13, 2011

FAIRFIELD CT HOMES:  Inventory continues to drop, and there are currently 420 homes that are actively on the market. The median list price in Fairfield is $544,950, and these homes have been available an average of  140 days. These properties are listed at an average price of $1,217,841. 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.

Five new listings came on the market this week, and one home came back on the market after being under deposit.  There were eight properties that had a price change. Eleven properties have gone under the initial deposit stage, which we call CTS, and sixteen 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 $549,228 and their average market time  was 95 days.

TOWNWIDE PENDINGS: There are 50 properties scheduled to close, and their average price is $652,728.

CLOSINGS: Eight properties were reported as sold this past  week, and they had an average list price of $872,263  and were on the market an average of 78 days. There were 68 status changes in the last week.

FAIRFIELD CT CONDOS: The median price for the 60 condos that are available is $380,450. These properties have been  listed an average of 119 days, and have an average price of $497,548. The highest list price for a condo in town is $1,487,500 and the lowest priced condominium available is $105,900.

Three new listings came on the market this week,  and one home  came back on the market after being under deposit. No properties had a price change. In the last week, one property went into CTS status,  and three properties went into pending status.

TOWNWIDE PENDINGS: There are 11 properties scheduled to close, and their average price is $402,672.

CLOSINGS: Two properties were reported as closed in the last week and their average list price was $263,950 and they were on the market an average of 150 days. There were 13 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 $1,862 and the average price is $3,307 per month. These year round rental opportunities have been on the market an average of 67 days.

There are five seasonal or summer rentals  available throughout Fairfield that have been on the market an average of  182 days, and at an average price of $14,640. The median  price of both furnished and unfurnished seasonal rentals is $3,350. Please note that seasonal rental prices are sometimes listed as an aggregate price for the season, or they can be listed as per the monthly rental cost.

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