Fairfield CT - Weekly Real Estate Market Statistics Report - August 16, 2011

FAIRFIELD CT HOMES: There still is a lot of sales activity in town, and we have been continuing at  a nice pace for deposits and  closings.The median list price in Fairfield is $552,000.  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 $1,191,459. The highest priced home for sale in town is listed at $25,500,000 and the lowest priced available single family home is $149,999.

13 new listings came on the market this week, and three homes came back on the market after being under deposit.  There were 22 properties that had a price change. 15 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: 14 properties sold this past  week, and they had an average price of $758,479  and  were on the market an average of 114 days. There were 96 status changes in the last week.

FAIRFIELD CT CONDOS: The median price for a condo in Fairfield is $351,950. The  81 condominiums that are available have been  listed an average of  107 days, and have an average price of $479,806. The highest list price for a condo in town is $1,075,110 and the lowest priced condominium available is $169,000.

Two new listings came on the market this week,  and no homes  came back on the market. Five propertieshad a price change. In the last week,  one  property went into CTS status,  and noproperties went into pending status. Four properties closed in the last week, and were listed at an average price of $397,225. They were on the market an average of  145 days.  There were 15 status changes for the week.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, there are 129 homes or apartments available. The median monthly price is $2,125 and the average price is $3,756 per month. These year round rental opportunities have been on the market an average of 53 days.

There are seven seasonal or summer rentals  available throughout Fairfield that have been on the market an average of  102 days, and at an average price of $11,085. 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

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

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

SOUTHPORT CT HOMES: The median list price in Southport is $1,062,000.  As of this morning, there are 62 homes actively on the market for  104 days and are listed at an average price of $2,432,193.

The highest priced home for sale in the Southport area of town is listed at $13,900,000 and the lowest priced available single family home is $350,000.  

No new  listings came on the market this week, and no homes came back on the market after being under deposit.  There were no properties that had a price change. Two properties has gone under the initial deposit stage, which we call CTS, and one property went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close.

CLOSINGS: One single family home was reported  sold this past  week and was listed at $1,137,500 and sold in 185 days. There were ten status changes in the last seven days.

PLEASE NOTE: Southport statistics include all properties within the 06890 zip code

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.

Fairfield CT Real Estate Market Conditions as of July 2011- The Year in Review

Fairfield's real estate market  is doing comparatively well, and you will notice that over  the last year it has also improved. Sales and the absorption rate have steadily increased and that's a good sign that the market is getting back to normal.

There are currently 503 single family homes on the market through our MLS system ( GFC-CMLS  ) According to the MLS, there have been 185 sales reported during the last three months with a median list price of $629,949 and a median sales price of $552,000. The sales price to list price ratio is 96.29 percent. The monthly absorption rate is 61.67 and there is an 8.16 month supply of housing inventory. Average Market Time for listings during this period is 78 days, and the average market time for the sales reported during this period was 59 days.

Compared to the prior 4-6 months: There were 485 single family homes on the market through our MLS system ( GFC-CMLS  )
According to the MLS, there were 113 sales reported during this period with a median list price of $629,000 and a median sales price of $537,000. The sales price to list price ratio  during this period was 96.38 percent. The monthly absorption rate during this time was 37.67 and there was a 12.8 month supply of housing inventory. Average Market Time for listings during this period is  135 days, and the average market time for the sales reported during this period was 91 days.

The prior 7-12 months statistics show that there were 388 single family homes on the market through our MLS system ( GFC-CMLS  )
According to the MLS, there were 249 sales reported during this period with a median list price of $605,000 and a median sales price of $500,000. The sales price to list price ratio  during this period was 95.03 percent. The monthly absorption rate during this time was 41.50 and there was a 9.35 month supply of housing inventory .Average Market Time for listings during this period is 178  days, and the average market time for the sales reported during this period was 79 days.

About the reports. These reports include the same information that home appraisers submit to a bank, and use as an addendum to their reports on individual properties. We have provided this data for you on a townwide basis. Individual property values will be different. Contact an appraiser if you need a specialized report, or contact me for a Market Analysis of your home when you are ready to sell.

Market Conditions: The Listing count is a representation of the last day of a  particular time period
1.Months Supply - The number of months it will take to deplete the inventory at the current rate of sales. In Fairfield, a neutral market  would  be indicated by anywhere from 5.5 -6.5 months, dependent upon additional conditions.
2. Absorption - Quoted as a per month figure. The average number of sales in any given time period (e.g., 90 sales in a 3 month period would mean an absorption rate of 30 per month)
3. Sales - The amount of reported  sales in the given time period.

Median Sales Price and List Price-
1. Median List Price compared to Median Sales Price. This may not  coincide with the quoted Sales Price to List Price ratios, as that takes into account average pricing, as opposed to Median List and Sale Pricing.

Southport CT - Weekly Real Estate Market Statistics Report - July 26, 2011

SOUTHPORT CT HOMES: The median list price in Southport is $1,137,000.  As of this morning, there are 62 homes actively on the market for  95 days and are listed at an average price of $2,570,419.

The highest priced home for sale in the Southport area of town is listed at $12,500,000 and the lowest priced available single family home is $379,000.   There are eight homes listed above six million dollars, and twelve properties available in the 1-1.5 million dollar range.

No new  listings came on the market this week, and no homes came back on the market after being under deposit.  There were three  properties that had a price change. No property has gone under the initial deposit stage, which we call CTS, and one property went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close.

CLOSINGS: One single family home was reported  sold this past  week and was liste at $669,000 and sold in 69 days. There were six status changes in the last seven days.

PLEASE NOTE: Southport statistics include all properties within the 06890 zip code

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.