Monday, February 10, 2014

January 2014 News

Despite the many obstacles posed by snow and cold the buyers seem determined to look at homes. This was evident in all of the towns in Mid-Fairfield. The two standouts in January were Wilton and Fairfield. Wilton had only 23 new properties come to market (compared to 52 in January of 2013), yet saw 23 properties go to escrow, versus only 10 properties in January 2013. Properties that had not previously sold in the fall are now coming back to the market to a fresh set of eyes. Fairfield had 66 properties go to escrow in January compared to 26 in the first month of 2013. The number of new properties coming to the market has been on the same pace as 2013. The low levels of inventory in Fairfield that are especially lacking are in the $600,000-800,000 range. New properties have been coming on the market in Weston at slightly higher levels than in 2013, but there were 16 properties that went to escrow in January compared to 10 in 2013 during that time period. Inventory levels have been rising slightly faster in Westport than in other towns. 90 new single family properties came to the market in January. However, there are currently only 10 single family homes for sale in the same $600-800k price range mentioned above. Inventory over $3 million has been growing, and now totals approximately 25% of the total number of single family homes for sale.

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