February 2015 Real Estate Market Report for Fairfield, CT

March 22, 2015
According to Connecticut Magazine, "February has gone down as the coldest month in Connecticut history."  The weather certainty didn't help the residential real estate market in Fairfield, CT.  Unit sales were down 24% compared to February of last year when 33 units sold.  Though it did take less time to sell a home.  The days on market in February was 68 -  down 38.7% from 111 in February of 2014.
Other Towns In Fairfield County
  • Median price in Norwalk (Rowayton) is up 144.9% to $1,500,000.
  • Unit sales in Wilton in January were 8. This is down 46.7% from 15 in January of 2014.
  • Median price in Wilton is up by 38.8%.

 

Fairfield CT - South Pine Creek Beach - February 2015

 

Changes Favoring Buyers
3 Months Ending February, 2015 % Chg From Feb, 2014
Unit Sales 112 -8.2%
Sales to List Price Ratio 94.7% -0.1%
Inventory 444 15.9%
Months of Supply 8.1 27.2%
New Listings 253 3.7%
Changes Favoring Sellers
3 Months Ending February, 2015 % Chg From Feb, 2014
Median Sale Price $569,500 4.5%
Market Time (Days) 96 -5.9%
Price per Sq Ft for Sold $340 3.1%
Listings Under Contract 120 0.8%

Sales

 

There were 25 unit sales in February. This is down 24.2% from 33 in February of 2014. This is the lowest unit sales have been since 19 in January, 2013. Sales/list price ratio in February moved up to 96.4% from 95.1% in January.

Prices


Median price in February was $512,500. This is down 6.0% from $545,000 in February of 2014. This is the lowest median price has been since April, 2013. 3-month median price of $569,500 in February was up just slightly from $562,500 in January and very slightly up from $545,000 in February of 2014. Price per square foot in February was $310. This is down from $379 in January and down from $313 in February of 2014.

Inventory

Inventory of 468 in February was up 8.3% from 432 in January and up 12.8% from 415 in February of 2014. New listings of 115 in February were up slightly from 103 in January and up moderately from 95 in February of 2014. Months of supply of 8.6 in February was up a little from 7.8 in January and up somewhat from 6.7 in February of 2014.

Market Time

Days on market of 68 in February was down moderately from 100 in January and down considerably from 111 in February of 2014.
Change in Median Sale Price for Single Family Properties YTD From 2014 To 2015 for Towns in Fairfield County Ranked by Best Performance
Town % Change
Wilton 21.99%
Westport 15.94%
Norwalk 9.69%
Bethel 9.52%
Monroe 8.07%
Stratford 5.86%
Fairfield 4.09%
Bridgeport 3.92%
Trumbull 3.11%
Danbury 1.96%
Data From: CMLS
Towns with an average of at least 10 sales per month (maximum of 10 towns)

 

 

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