A Change in Course

The spring market has started to heat up this year but not in all the places that one might have expected.

The winners so far in 2007 seem to be Weston and Fairfield at the expense of Westport and Wilton.

Sales year to date in Westport total 127 compared to 151 in 2006 which translates to a falloff of approximately 16%. This is certainly an improvement over the first quarter. In Wilton the decrease is nearly 18% with only 69 sales so far compared to 85 at this time last year.

Part of the explanation lies in a slow start due to late snow in March followed by heavy rains. It is also a reflection of a slower start in the months of January and February.

That said, Fairfield and Weston have fared better than in 2006. Weston with 48 sales is up 33%, while Fairfield with 267 sales is up 27%.

Pending and Bindered sales in all of the towns show signs of increased activity with nearly as many properties falling into these categories as have closed thus far in 2007.

We will follow the progress of these Off-Market properties on a monthly basis.