Fairfield CT Real Estate Market Update December 6, 2011

FAIRFIELD CT HOMES:  Inventory continues to drop, and there are currently 436 homes that are actively on the market. The median list price in Fairfield is $537,500, and these homes have been available an average of  136 days. These properties are listed at an average price of $1,218,372. 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.

Eleven new listings came on the market this week, and two homes came back on the market after being under deposit.  There were twelve properties that had a price change. Eight properties have gone under the initial deposit stage, which we call CTS, and thirteen 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 $654,169 and their average market time  was 90 days.

TOWNWIDE PENDINGS: There are 45 properties scheduled to close, and their average price is $676,417.

CLOSINGS: Twelve properties were reported as sold this past  week, and they had an average list price of $532,558  and were on the market an average of  125 days. There were 82 status changes in the last week.

FAIRFIELD CT CONDOS: The median price for the 57 condominiums that are available in Fairfield is $385,000. These properties have been  listed an average of 126 days, and have an average price of $4509,288. The highest list price for a condo in town is $1,487,500 and the lowest priced condominium available is $105,900.

One new listing came on the market this week,  and no homes  came back on the market after being under deposit. Three properties had a price change. In the last week, three properties went into CTS status,  and three properties went into pending status.

TOWNWIDE PENDINGS: There are 10 properties scheduled to close, and their average price is $376,040.

CLOSINGS: Three properties were reported as closed in the last week and their average list price was $308,567 and they were on the market an average of  213 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 126 homes or apartments available. The median monthly price is $1,925 and the average price is $3,324 per month. These year round rental opportunities have been on the market an average of 66 days.

There are five seasonal or summer rentals  available throughout Fairfield that have been on the market an average of  175 days, and at an average price of $14,640. The median  price of both furnished and unfurnished seasonal rentals is $3,350. Please note that seasonal rental prices are sometimes listed as an aggregate price for the season, or they can be listed as per the monthly rental cost.

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

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