Mid-Fairfield Sales Through Labor Day 2017

Our Mid-Fairfield area, which includes Westport, Weston, Wilton and Fairfield has seen remarkably steady sales in 2017 compared to last year.

Westport, which tends to be locomotive for sales in the 4 towns has had the best year statistically, with 308 sales thus far this year compared to 276 sales in 2016 through Labor day.  The median price has gone up incrementally from $1,289,000 in 2016 to $1,325,000 currently. Approximately 1/3 (96) of the 2017 sales have been under $1 million.  The highest sales price recorded in 2017 has been at 75 Beachside Ave., $6,575,000.  There were 53 new home sales with a median price of $2,115,000.

Weston has been a study in regularity.  2017 sales have totaled 120 compared to 118 in 2016.  The 2017 median price dipped a little over 1% to $789,000. There have been 31 sales over $1 million in Weston, with 4 of those over $2,000,000.  There have been 7 new homes sold year-to-date in Weston.

Wilton too is a near reflection of its neighbor. The 164 sales year to date compares to 163 in 2016, and the median prices have dropped from $808,000 to $765,000, a 5% difference.  34 of these sales have been over $1 million and only 3 have been over $2 million.

Fairfield, with the largest population of the four towns, continues to sell at a steady pace: 573 sales in 2017 compared to 571 in 2016. The median price has inched up from $590,000 in 2016 to $599,000 this year.  There have been 59 new home sales in 2017 with a median price of $1,045,000 compared to 46 last year with a median price of $1,061,300.  The highest sales price in Fairfield in 2017 was at 375 Sasco Hill road  which sold for $3,637,500.

For those who may be looking to purchase and wish to see Rob's Picks of the Week,
email westportagent@hotmail.com and indicate town and price range and I will get back
to you with the home(s) that I feel represent the best value on the market.

Just Listed " The Odd Couple House"

73 Good Hill Road   Weston

Updated Revolutionary War Era Colonial

Wonderful mix of old and new. Charming Revolutionary era colonial with stunning newer custom white kitchen with granite counters and spacious Master bathroom with shower and bathtub. Located in Lower Weston, minutes to schools and Merritt Parkway. 4 bedrooms (Field card shows 5), 3 baths, 4 fireplaces, exposed beams, hardwood floors throughout. Over 3200 square feet of living space. First floor office/den can function as a guest bedroom, or au pair suite. Huge bee hive fireplace in dining area. This had once been the home of actors Jack Klugman & Brett Somers.

$699,000

PUBLIC OPEN HOUSE
SUNDAY, JUNE 12TH
2-4 P.M.

February is a hot month for entry level homes

The earlier months of the year are not always representative of the year as a whole, but there seems to be a pattern for entry level homes, as the sales numbers trended toward the lower end of the market.


Despite record amounts of snow falling the number of entry level single family homes that went to contract increased dramatically this February when compared to February 2014. In Westport 41 homes went to contract versus 25 in the same month last year.  The median sold price for homes selling in February was at $883,000 compared to $785,000 in Feb. 2014.   These prices are well below the median sales price for the end of 2014 in Westport, which was over $1.3 million.  These
sales represent both properties going under contract in early 2015 as well as late 2014 contracts.
The year to date median sold price of $1.2 is much closer to those year end figures, implying a jump in entry level activity this month.  The median price at this time last year was at $1 million, so the trend of lower priced homes going early in the year is something to look at in the future.


Weston also saw an active market, with 16 homes going to escrow compared to 9 in February 2014
and for the year there has been an 80 per cent increase to 27 properties compared to 15 through February of last year.  The median sold levels in February were at only $558,000 compared to $710,000 last February, a decrease of 21.5%.  Year to date levels are also down considerably to $690,000 compared to $833,000 in Feb. 2014.


Wilton saw the most dramatic increase in contract activity, 160%, with 26 homes going to escrow compared to 10 last February.   The median sales price of $779,000 for February was slightly below last year's median price but well below the February average of $1.2 million.  Year to date the median sales price is $830,000 vs. $705,000 at the same time last year.  For the first two months of the year there have been 40 homes that have gone to contract, an increase of nearly 74%.


Fairfield, whose market is driven in much greater part by the entry level has seen its year to date median sales price  increase slightly to $558,000, just below the 2014 yearly median sales price.
The sales numbers have also  sharply improved.  Year to date there have been 125 homes that have gone to contract compared to 76 at this point last year.  That is a healthy 64.5% increase.  For February that increase was 84%. 


Inventory levels are slightly above historic averages.  Much of this inventory is represented by homes that were on the market previously in 2014.  New inventory has actually decreased thus far this year.
The coming months should see vibrant sales activity.