New To the Market: 7 Birch Hill Road, Weston

Offered at  $949,000

Tastefully updated & carefully maintained 5 BR Colonial set on 2 serene acres of level land in one of the most convenient locations, surrounded by multi-million dollar homes. You will feel welcome from the moment you enter through the covered portico into the inviting two-story foyer. Beautiful front-to-back LR, elegant DR. Newer kitchen w/ custom cabinetry, stainless steel appliances& honed granite counters opens to the generously-sized breakfast room & stunning family rm. Luxurious main level master suite w/ lrg bath and spacious closets. 4 additional charming BRs on 2nd floor.. Finished LL playroom. Deck spans rear of home, overlooking usable lawns & mature gardens. New central air, heating, hot water htr,200 amp electrical. Wired for generator.  Natural gas in street. Close to schools.

2010 Mid-Fairfield Real Estate Statistics thru Sept. 30

We continued to work our way back to sales that are more in line with statistical averages in the 3rd quarter but results were less sanguine than previously seen in the first half of the year. There was a marked slowdown in real estate activity in late April, May and June which coincided with the debt crisis in Greece, Spain and Portugal, and the oil spill in the Gulf.

Fortunately we appear to have gotten through those crises, and the stock market saw its strongest September gain since 1939. Questions still remain for some about the U.S. economy, and real estate buyers are still expressing some of that uncertainty, even though the latest Case-Schiller index indicated a rise in prices for the New York Metro area.

Westport sales of single family homes through Sept.30 totaled 269 vs. 174 in 2009, an increase of 54%. An additional 61 homes are currently under escrow. The monthly supply of inventory dropped from 16.4 months to 9.6 months, which is a reflection of sales of existing inventory. Actual inventory levels are down slightly from 2009 levels. The average sales price increased 1% to $1,393,604.

Weston sales continued to increase in the whole, from 63 in 2009 to 88 thus far in 2010, an increase of 40%. An additional 20 properties are under escrow. Average sales figures increased over 3% to $952,698, still lagging considerably averages that were seen before the turn in real estate prices. Two thirds of the activity has been below $1 million.

Wilton, with many similarities to its neighbor Weston, has been relatively less successful in terms of sales, with the smallest percentage increase (12.7%) in year to date sales activity: 127 closed sales compared to 102 in 2009 at this time. It also saw a slight drop ($20,000) in the average sales price to $885,340. There are an additional 24 properties under escrow.

Fairfield sales figures are also showing a positive balance sheet, with a 35% increase over year to date 2009 sales, with 468 single family homes sales recorded, and an additional 94 properties under escrow. However, the average sales price decreased 4% to $690,267. The bulk of sales (67%+) were under $700,000.



The highest compliment my clients can give me is the referral of their friends, family and business associates.

Statistical data compiled from Consolidated Multiple Listing Service

Sales have remained relatively even for 2009. Higher than usual activity in the higher end ($1 million) during the 4th quarter may be a signal of things to come in 2010. The average listing prices of homes currently under contract is signficantly above 2009 yearly averages in all towns except for Wilton.

Mortgage rates remain at historic lows and the conventional loan limit of $708,500 has been extended to 2010 for the time being. Demand should be high for homes listed at $1,200,000 and below.

Pricing has been particularly attractive to buyers for homes listed below $900,000 in Weston & Wilton. 123 of the 210 sales in 2009 in those towns fell into this range. Activity under $900,000 in Westport and Fairfield has also had the effect of lowering the average sales prices and the median prices.

Listing inventory throughout Fairfield County has decreased markedly from the highs seen in 2007, and this had been true in Mid-Fairfield as well.

My new association with the Riverside Realty Group was based upon the company's unique team approach and innovative marketing techniques. In a matter of just over 2 years, the Riverside Realty Group has gained the preeminent leadership position and the highest per agent production of any real estate agency in the area.

For additional Market Trend statistics please feel free to visit my website at www.RobMakesItSold.com. For a FREE price opinion on the value of your home, please call me at 203-952-6117.