Fairfield CT - Weekly Real Estate Market Statistics Report - September 20, 2011

FAIRFIELD CT HOMES:  Another banner week for Fairfield! Inventory is slightly up, and the median list price in Fairfield is also up to  $561,500.  As of this morning, there are 492 homes actively on the market. They have been available an average of  109 days and are listed at an average price of $1,209,072. 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.

SINGLE FAMILY HOME INVENTORY based upon the current absorption rate: 8.58 months, and is up slightly from last week. The goal for a neutral market in Fairfield is six months.

Twenty five new listings came on the market this week, and two homes came back on the market after being under deposit.  There were 24 properties that had a price change. Nine properties have gone under the initial deposit stage, which we call CTS, and 12 properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. Average market time for these listings was 117 days.

CLOSINGS: Fifteen properties sold this past  week, and they had an average price of $783,267  and  were on the market an average of 102 days. There were 107 status changes in the last week.

FAIRFIELD CT CONDOS: The median price for a condo in Fairfield has risen slightly to $347,200. The  77 condominiums that are available have been  listed an average of  108 days, and have an average price of $468,536. The highest list price for a condo in town is $1,075,110 and the lowest priced condominium available is $169,000.

CONDOMINIUM  INVENTORY based upon the current absorption rate: 16.71 months, and is up  from last week. The goal for a neutral condominium market in Fairfield is 7-7.5 months.

Three new listings came on the market this week,  and no homes  came back on the market. One property had a price change. In the last week, two properties went into CTS status,  and three properties went into pending status, with an average market time of 107 days. One property closed in the last week, and was listed at $219,500 and was  on the market for 126 days. There were 14 status changes for the week.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, there are 136 homes or apartments available. The median monthly price is $2,000 and the average price is $3,380 per month. These year round rental opportunities have been on the market an average of 46 days.

There are four seasonal or summer rentals  available throughout Fairfield that have been on the market an average of  169 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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