Mid Fairfield Update Through October, 2018

It should be interesting to see how the results of tomorrow's elections will affect the real estate market.   Results in the area have been mixed. Volume has been down slightly over the past 12 months, but it appears that prices have held steady, and listing inventory has been tightening. In Westport,  sales were down less than 1% through October,  with 354 single family sales compared to 359 through the same time period in 2017, while the median price has increased  16.67% to $1,370,000.  Weston had the same number of sales, 138, in the first 10  months of 2017 and 2018, but the median price decreased  by 22% to $661,000.  Wilton saw the reverse effect of its neighbor to the east, with 179 sales in 2018 compared to 193 in 2017, but the median price increasing by 26.56% to $965,000.  The latter number is somewhat skewed by one sale of $8,000,000-the highest sales price ever recorded in Wilton. Fairfield, the most affordable of the towns, also saw a slight decrease in sales volume (5%) from 672 single family sales to 641, but the median sales price increased 13.88% to  $640,000. For additional data points please see the links below: Westport: WestportMarketreportback3monthNov.1,2018.pdf Weston: Westonmarketactivityreportback3monthNov.1,2018.pdf Wilton: WiltonMarketActivityNovember1,2018.pdf Fairfield: FairfieldMarketareareportback3monthsNov.1,2018.pdf