Late Summer Surge
one might expect to see an increase in the median price in Fairfield, but it remains at approximately
$580,000-the same figure as the 2014 Median price. The trend of lower priced homes continues to
make up the lion's share of homes going to contract. Entry level buyers continue to see the value of Fairfield's Silver Ribbon schools and outstanding amenities.
Westport also saw a nice jump in August activity, with 53 single family properties going to contract compared to 34 last year. Through the end of August there have been 290 single family homes that have gone to contract compared to 276 during the comparable period in 2014, a 5.1% increase. Current closed sales (through August 31) are at 260 vs. 266 in the previous year, and the marketing time of properties has increased to 182 days compared to 167 in 2014. The median price in Westport has dipped slightly (-2.8%) to $1,312,505.
Weston had a solid August with contracts up to 21 compared to 11 in the previous August, and the median price increasing year to date 5.2% to $852,000. Yearly escrows are up 9.9% from the previous year, though closed sales stand at 115, down 7 from the previous year, and marketing times have increased to 191 days compared to 173 at this time last year.
Wilton is now slightly lagging 2014 levels. The 150 closed sales are 15 behind end of August, 2014 single family sales figures, though the days on market of homes dropped 7% to 147 days on average. The median price increased 7.4% to 860,000 ($8000 higher than its neighbor Weston). Year to date 170 homes have gone to contract compared to 168 through end of August, 2014. There are signs of increased activity in September, so yearly levels may yet catch up.
Labels: 2015 Housing market., 2015 Mid Fairfield County statistics, 2015 Weston Real estate, 2015 Westport CT real estate statistics, 2015 Westport Homes for sale, 2015 Wilton CT real estate statistics