Monday, January 02, 2012

2011 Mid-Fairfield Single Family Home Statistics

Westport Weston Wilton Fairfield Norwalk

Homes bindered 11 2 11 22 23
Homes Under Contract 31 11 12 52 52
Sold 2011 340 103 176 521 433
Marketing time 100days 114 116 110 118
Sold 2010 347 118 163 595 505
Average Sales Price '11 $1,340,636 838,488 958,406 694,515 575,648
Average Sales Price '10 1,454,518 929,994 879,330 679,782 565,927
Ratio List to sell 2011 94% 93% 94% 94% 94%
Ratio List to sell 2010 93% 92% 94% 94% 94%
Month's Inventory 2011 10.6 17.4 11.3 9.7 10.8
Month's Inventory 2010 11.6 13.2 11.6 10 10.8
Percent change -9 31.6 -2.8 -2.2 unchanged
Change Median Sales Price -5.40% -9.60% 5.40% 5.8 -5.10%
Median Sales Price $1,085,625 750,000 825,000 549,900 419,000


2011 Mid-Fairfield results were mixed. Wilton showed the greatest improvement in number of homes sold vs.the previous year. Westport saw a slight decrease in overall sales and median price. Volume was more impacted in Norwalk,Weston, and Fairfield. Looking at the bigger picture, the Case-Schiller N.Y. Metro Price Index is now indicating March 2004 levels and the index was virtually unchanged between the 4th quarters of 2010 and 2011. Financial crises and natural disasters both impacted sales in the 3rd and 4th quarters of 2010 and 2011. Most recent activity (properties under binder or contract) points to increased activity in the 4th quarter which may be reflective of increased consumer confidence.

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Statistical data compiled from Consolidated Multiple Listing Service

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