Fairfield CT Real Estate Market Statistics Report 5/24/11

FAIRFIELD CT HOMES:  Available inventory is consistent with last week, although the median price rose ever so slightly. You may notice a slight fluctuation week to week, and normally I have no concerns. I don't here either, but I am leaning towards thinking that sales may be slowing down just a little bit. That does not mean to hurry up and sell, nor does it mean that you should wait to buy. I think we have a slight seasonal adjustment coming. I am watching the market quite closely, and will abslutely keep you up to date. Right now, everything is fine, there are some interesting early indicators that could go either way, and more information is needed t make a proper assessment. As a whole,  Fairfielders have been consistently pricing their homes well, and taking advantage of the market in every way.

The median list price in Fairfield is fairly steady at  $556,950.  As of this morning, there are 499 homes actively on the market for  96 days and are listed at an average price of $1,091,774.  The most active price ranges in town remain at 500-600k, which represents just under 11 percent of the inventory and the 1-1.5 million range which represents almost 12 percent of active listings.

Thirty -eight new listings came on the market this week, and one home came back on the market after being under deposit.  There were 27 properties that had a price change. 24 properties have gone under the initial deposit stage, which we call CTS, and 25 properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. CLOSINGS: Nine properties sold this past  week, and they had an average price of $615,422, and  were on the market an average of 128 days. There were 124 status changes in the last week.

FAIRFIELD CT CONDOS: The median price for a condo in Fairfield is $331,750. The  89 condominiums that are available  have been  listed an average of 87 days, and have an average price of $461,618. Sixteen percent of available inventory is priced between 250-300k.

Six 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,  no properties went into CTS status,  and five  properties went into pending status. One property closed in the last week that was listed at $525,000 and was on the market for 54 days. There were 17 status changes for the week.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, there are 122 homes or apartments available. The median monthly price is $1,925 and the average price is $3,217 per month. These year round rental opportunities have been on the market an average of 49 days.

There are 25 seasonal or summer rentals  available throughout Fairfield that have been on the market an average of 48 days, and at an average price of $10,958. The median  price of both furnished and unfurnished seasonal rentals is $4,750.

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