Friday, November 14, 2014

October-Prices Holding Steady/Late autumn activity

There was increased monthly activity in all towns compared to October of 2013. Westport saw the biggest jump with 45 homes going to escrow in October vs 32 in the previous year, a 40.6% increase.

Yearly sales figures are still behind 2013 levels though.  Westport is nearly 15% behind last year's levels, followed by Weston which is a little over 10% behind 2013 levels, Wilton -5.8%, Fairfield -5.7%. 

Though volume has decreased, median home prices have increased at a rate slightly above the cost of living in Westport & Weston, with median prices of $1,325,000 and $807,000 respectively.  Wilton and Fairfield have seen almost no movement, with median prices of $800,000 and $573,000.

Going outside the Mid-Fairfield towns that I usually discuss, there has been something interesting happening in Easton.  There have been 105 homes that have gone to contract in this small rural-feeling town, which represents a 40% increase over last year.  The median sales price in Easton progressed by 6.4% with a median sales price year to date of $592,000.  Easton had at one point been a part of Fairfield. 

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