Despite less
than ideal weather conditions, all of the towns in Mid-Fairfield saw increased
activity in April.
Westport led
the way in April with increase of homes going to contract up 105%. On a yearly basis 151 single family homes
have gone to contract, up 54%. From the
perspective of the Median Sales Price, it currently stands at $1,397,500, an
increase of 11.8%. Closed sales are up
96 compared to 86 at the end of April 2015.
This is an increase of 17.1%. In
terms of new listings coming to the market, April actually saw a decrease
compared to April, 2015. However, year
to date the number of homes on the market is up 16%. Early indications in May are showing
increased new listings. Given the wet
weather that we’ve had it is likely that we will have a later than normal
spring market.
Wilton also
saw an impressive jump in April sales activity.
43 homes went to contract compared to 22 in April, 2015. That’s a 96% increase! Year to date there have been 86 homes that
have gone to contract compared to 59 last year at this time. That represents a 46% increase. The median
price has remained relatively flat.
Currently standing at $875,000, this is an increase of 1.7%. New listings were also down in April in
Wilton, though for the year they are up 8%.
Closed sales are up slightly 46 vs. 43 through April 2015.
Weston has
been lagging its neighbor to its west, Wilton, in 2016. The median price of $749,000 is about 16%
lower than Wilton. Weston did have a
good April with 24 homes going to contract compared to 16 in April, 2015. On a yearly basis homes going to contract is
up nearly 11%. New homes coming to the
market was also down in April, but for the year are up nearly 16%. Closed sales are up slightly from 33 to 34
this year.
Fairfield
saw all of the same tendencies as its neighbors. New listings were down in April, but up 8% so
far for the year. Pending sales were up
in April, and for the year are up 40%, though closed sales are only up 8%
through April. The median price has been
slowing gain ground in Fairfield, up 6.2% for the year to $582,000.
Multiple
offer situations are on the increase for new listings that are well priced and
in excellent condition. Mortgage rates
remain near historic lows.
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