Fairfield CT Real Estate Weekly Market Report and Update Nov. 1, 2011

FAIRFIELD CT HOMES:  The median list price in Fairfield is $544,000.  As of this morning, there are 486 homes that are actively on the market. They have been available an average of  117 days and are listed at an average price of $1,201,476. 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: 11.97 months, and is up slightly  from last week. The goal for a neutral market in Fairfield is six months.

Eighteen new listings came on the market this week, and two homes came back on the market after being under deposit.  There were 18 properties that had a price change. Eight properties have gone under the initial deposit stage, which we call CTS, and ten 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 $463,130 and their average market time  was 137 days.

CLOSINGS: Nine properties were reported as sold this past  week, and they had an average list price of $500,744  and  were on the market an average of 113 days. There were 87 status changes in the last week.

FAIRFIELD CT CONDOS: The median price for a condo in Fairfield is $364,950. The  66 condominiums that are available have been  listed an average of  119 days, and have an average price of $472,738. 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: 9.90 months, and is down from last week. The goal for a neutral condominium market in Fairfield is 7-7.5 months.

One new listing came on the market this week,  and no homes  came back on the market. Two properties had a price change. In the last week, one property went into CTS status,  and five properties went into pending status. Theit average market time was 152 days and were listed at an average price of $380,940.

CLOSINGS: Two properties were reported as closed in the last week and the average list price was $514,250 and they were on the market and average of 211 days. There were 14 status changes for the week.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, and there are 134 homes or apartments available. The median monthly price is $1,975 and the average price is $3,322 per month. These year round rental opportunities have been on the market an average of 55 days.

There are four seasonal or summer rentals  available throughout Fairfield that have been on the market an average of  211 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.

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