Fairfield CT - Weekly Real Estate Market Statistics Report - September 27, 2011

FAIRFIELD CT HOMES:  The median list price in Fairfield is$562,000.  As of this morning, there are 489 homes actively on the market. They have been available an average of  114 days and are listed at an average price of $1,221,862. 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.

Homes with four bedrooms  comprise over 37 percent of the inventory, and their average price is $1,032,778 and they have been on the market an average of 158 days. There are 159 three bedroom homes on the market that are listed at an average price of $537,829 and they have been on the market an average of 100 days.  

SINGLE FAMILY HOME INVENTORY based upon the current absorption rate: 8.98 months, and is up slightly from last week. The goal for a neutral market in Fairfield is six months.

Eleven new listings came on the market this week, and two homes came back on the market after being under deposit.  There were 27 properties that had a price change. Fourteen 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 108 days.

CLOSINGS: Nine properties sold this past  week, and they had an average price of $805,967  and  were on the market an average of 87 days. There were 92 status changes in the last week.

FAIRFIELD CT CONDOS: The median price for a condo in Fairfield is now  $344,700. The  73 condominiums that are available have been  listed an average of  115 days, and have an average price of $464,408. 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: 13.69 months, and is down significantly 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, four properties went into CTS status,  and one property went into pending status, with an average market time of 108 days. Three properties closed in the last week, and were listed at an average price of $641,606 and were  on the market for 118 days. There were 15 status changes for the week.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, there are 133 homes or apartments available. The median monthly price is $2,100 and the average price is $3,350 per month. These year round rental opportunities have been on the market an average of 48 days.

There are four seasonal or summer rentals  available throughout Fairfield that have been on the market an average of  176 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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