Fairfield CT - Weekly Real Estate Market Statistics Report - August 8, 2011

FAIRFIELD CT HOMES: There is a lot of sales activity in town, and we are continuing a nice pace for deposits and  closings, however the median asking price and the average listing price has dropped somewhat. I am not concerned, it's just an acknowledgement. The median list price in Fairfield is $554,000.  As of this morning, there are 494 homes actively on the market. They have been available an average of  108 days and are listed at an average price of $1,189,438. 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.

11 new listings came on the market this week, and two homes came back on the market after being under deposit.  There were 14  properties that had a price change. 12 properties have gone under the initial deposit stage, which we call CTS, and 16 properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. CLOSINGS: 21 properties sold this past  week, and they had an average price of $712,298  and  were on the market an average of just 115 days. There were 101 status changes in the last week.

FAIRFIELD CT CONDOS: The median price for a condo in Fairfield is $356,950. The  80 condominiums that are available have been  listed an average of  102 days, and have an average price of $480,857. The highest list price for a condo in town is $1,075,110 and the lowest priced condominium available is $174,800.

Two 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,  seven  properties went into CTS status,  and three properties went into pending status. Four properties closed in the last week, and were listed at an average price of $333,250. they were on the market an average of  120 days.  There were 24 status changes for the week.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, there are 83 homes or apartments available, which is a SUBSTANTIAL DROP in inventory over just two weeks ago. The median monthly price is $2,750 and the average price is $4,670 per month. These year round rental opportunities have been on the market an average of 59 days.

There are seven seasonal or summer rentals  available throughout Fairfield that have been on the market an average of  108 days, and at an average price of $11,671. The median  price of both furnished and unfurnished seasonal rentals is $3,500.

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