Fairfield CT - Weekly Real Estate Market Statistics Report - October 18, 2011
Tuesday, October 18, 2011 at 4:08PM FAIRFIELD CT HOMES: The median list price in Fairfield is $552,500 and is down about two and one half percent from last week. As of this morning, there is a significant rise in inventory to 491 homes that are actively on the market. They have been available an average of 114 days and are listed at an average price of $1,215,417. 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.
There are 184 four bedroom homes on the market and they comprise over 37 percent of all the homes on the market. Average list price of these four bedroom homes is $1,042,148 and they have been on the market an average of 118 days.
SINGLE FAMILY HOME INVENTORY based upon the current absorption rate: 10.4 months, and is up slightly from last week. The goal for a neutral market in Fairfield is six months.
Twenty-three new listings came on the market this week, and three homes came back on the market after being under deposit. There were 15 properties that had a price change. Nine properties have gone under the initial deposit stage, which we call CTS, and six 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 properies was $508,067 and their average market time was 92 days.
CLOSINGS: Eleven properties were reported as sold this past week, and they had an average list price of $880,664 and were on the market an average of 127 days. There were 79 status changes in the last week.
FAIRFIELD CT CONDOS: The median price for a condo in Fairfield is $354,759. The 72 condominiums that are available have been listed an average of 120 days, and have an average price of $469,523. 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: 10.4 months, and is consistent with last week. The goal for a neutral condominium market in Fairfield is 7-7.5 months.
Two new listings came on the market this week, and no homes came back on the market. Six properties had a price change. In the last week, six properties went into CTS status, and no properties went into pending status.
CLOSINGS: One property closed in the last week, and was listed at $464,000 and was on the market for 108 days. There were 17 status changes for the week.
RENTALS: If you are looking to rent year round, either furnished or unfurnished, and there are 128 homes or apartments available. The median monthly price is $1,975 and the average price is $3,498 per month. These year round rental opportunities have been on the market an average of 54 days.
There are four seasonal or summer rentals available throughout Fairfield that have been on the market an average of 197 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.
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