Early Autumn Sales

By the end of September, it now looks like most towns have caught up to 2014 levels with the exception of Wilton.  In Wilton there have been 167 sales thus far compared to 181 at the end of September 2014, representing a decrease of 7.7%. There was a bump up in September of 20 homes going to contract compared to 15 in September 2014, and the median price has increased approximately 4.7% to $853,000 through September.

Weston’s median price of $850,000 is nearly identical to Wilton’s.  Weston has slowed slightly.  There were 14 homes that went to contract compared to 11 during the same period in the previous year.  The 123 homes sold thus far is one more than through the first 9 months of 2014.

Westport saw a significant jump in September activity, with 45 homes going to contract compared to 30 in September 2014. The median price slipped slightly to $1,300,000, a 3.5% dip.  Closed sales are slightly ahead of 2014 with 296 compared to 292.

While the median price of $580,000 is holding ‘steady’, sales volume is increasing rapidly in Fairfield.  September saw 113 properties go to contract, compared to 45 in September, 2014.  Year to date there have been 607 closed sales in Fairfield compared to 524 last year, a 15.8% increase.  I would expect to see continued gains throughout the year.

Late Summer Surge

As we look back on the hot summer of 2015, we see that August activity was heated in all Mid-Fairfield towns as well.  In the town of Fairfield the number of homes that went under contract in August was more than double what it had been in August of 2015.  Interestingly in Fairfield the marketing time of homes remains very steady at 145 days compared to 146 days last year, which is the shortest average of all of the towns included in our regular overview.  Closed sales in Fairfield are up 14.9% to 539 thus far this year, and there have been 599 properties that have gone to escrow, so end of year sales should be significantly higher than in 2014.  With all of those impressive numbers,
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.

Multiple Offers

              This charming farmhouse colonial in Greens Farms had not

                            been on the market in over 25 years. It had originally been a caretaker's  cottage

                             that was expanded the expanded by the current owners. It features 4 bedrooms,

                                     3 fireplaces, 2.5 baths,  a sunken sunroom, dining room, office and family room on a beautiful flat acre, with a deck, patio and hot tub.

                         The house went on the market late on a Saturday afternoon, and by

          Sunday evening there were 3 offers over the asking price.

 

 

            The very organized owner had prepared the house for sale

           starting the previous year and the house had worked with

              the experienced team at Show to Sell to make it look its best.