December Real Estate Market Report for Fairfield, CT

January 18, 2015

In Fairfield, CT, unit sales in December 2014 were 38, down 36.7% from 60 in December of 2013. The months of supply is up by 34.6% and inventory is up 19.6% to 446. The good news for sellers is that it is taking less time to sell a home. Market Time is down 15% to 96 days n December of 2014 compared to December 2013.

Other Towns In Fairfield County

Unit sales in Wilton are down 47.8% to 12.
Price per square foot in Wilton in December was $252. This is down 23.0% from $327 in December of 2013.
Price per square foot in Norwalk is up by 17.7%.

Changes Favoring Buyers
3 Months Ending	December, 2014	% Chg From Dec, 2013
Unit Sales	120	-24.5%
Median Sale Price	$545,000	-2.5%
Inventory	507	16.6%
Months of Supply	9.2	25.5%
Price per Sq Ft for Sold	$318	-12.1%
New Listings	209	6.6%
Listings Under Contract	129	-14.6%

Changes Favoring Sellers
3 Months Ending	December, 2014	% Chg From Dec, 2013
Sales to List Price Ratio	95.1%	0.6%
Market Time (Days)	96	-15.0%

Sales

There were 38 unit sales in December. This is down 36.7% from 60 in December of 2013. This is the lowest unit sales have been since 33 in February, 2014. Sales/list price ratio in December moved down to 93.5% from 95.3% in November

Prices

Median price in December was $616,000. This is up 12.0% from $550,000 in December of 2013. This is the highest median price has been since June, 2014. 3-month median price of $545,000 in December was very slightly up from $540,000 in November but down just slightly from $559,000 in December of 2013. Price per square foot in December was $314. This is down from $326 in November and down from $339 in December of 2013.

Inventory

Inventory of 446 in December was down 13.4% from 515 in November but up 19.6% from 373 in December of 2013. New listings of 34 in December were way down from 67 in November and down a little from 38 in December of 2013. Months of supply of 8.3 in December was down modestly from 9.3 in November but way up from 6.2 in December of 2013. This is the lowest months of supply has been since March, 2014.

Market Time

Days on market of 106 in December was up a little from 99 in November and up modestly from 97 in December of 2013. This is the highest days on market has been since March, 2014.

Change in Median Sale Price for Single Family Properties YTD From 2013 To 2014 for Towns in Fairfield County Ranked by Best Performance
Town	% Change
New Canaan	18.37%
Greenwich	11.08%
Darien	8.15%
Stamford	7.02%
Weston	6.23%
Westport	5.63%
Brookfield	3.99%
New Fairfield	2.66%
Bethel	2.65%
Trumbull	2.53%
Data From: CMLS Towns with an average of at least 10 sales per month (maximum of 10 towns)