October Real Estate Market Report for Fairfield, CT

November 15, 2014
In Fairfield, CT, the price per square foot for October 2014 is down 27.1% to $315 compared to October 2013.  The median price is down by 12.2%.  The good news is that it is taking less time to sell a home. The days on market in October was 82. This is down 26.1% from 111 in October of 2013.
Other Towns In Fairfield County
  • Median price in Greenwich (Greenwich) is down 14.9% to $1,828,100.
  • Days on market in Westport in October was 139. This is up 32.4% from 105 in October of 2013.
  • Months of supply in Stamford is up by 36.7%.

Changes Favoring Buyers
3 Months Ending October, 2014 % Chg From Oct, 2013
Unit Sales 171 -10.5%
Median Sale Price $572,500 -2.1%
Inventory 559 13.6%
Months of Supply 9.9 17.5%
Price per Sq Ft for Sold $303 -13.0%
New Listings 323 3.5%
Listings Under Contract 143 -15.4%
Changes Favoring Sellers
3 Months Ending October, 2014 % Chg From Oct, 2013
Sales to List Price Ratio 96.5% 1.7%
Market Time (Days) 95 -4.0%

 Sales

 Residential Real Estate Unit Sales Chart for Fairfield, CT

There were 39 unit sales in October. This is down 7.1% from 42 in October of 2013. This is the lowest unit sales have been since 33 in February, 2014. Sales/list price ratio in October moved up to 97.1% from 95.8% in September.

Prices

 Residential Real Estate Median Pric

Median price in October was $520,000. This is down 12.2% from $592,500 in October of 2013. This is the lowest median price has been since April, 2014. 3-month median price of $572,500 in October was down just slightly from $585,000 in September and down a little from $584,500 in October of 2013. Price per square foot in October was $315. This is down from $317 in September and down from $432 in October of 2013.

Inventory

Residential Real Estate Total Prices for Fairfield, CT

 

Inventory of 579 in October was up 4.1% from 556 in September and up 17.2% from 494 in October of 2013. New listings of 108 in October were down slightly from 125 in September but up just slightly from 105 in October of 2013. Months of supply of 10.2 in October was very slightly up from 9.8 in September and up somewhat from 8.4 in October of 2013. This is the highest months of supply has been since June, 2013.

Market Time

Residential Real Estate Market Prices for Fairfield, CT

 

Days on market of 82 in October was down modestly from 91 in September and down considerably from 111 in October of 2013. This is the lowest days on market has been since May, 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 20.48%
Greenwich 12.13%
Stamford 9.62%
Darien 6.91%
New Fairfield 6.35%
Westport 5.92%
Bethel 4.59%
Weston 4.19%
Trumbull 4.08%
Ridgefield 3.46%
Data From: CMLS
Towns with an average of at least 10 sales per month (maximum of 10 towns)
Posted in Fairfield Real Estate Market, Uncategorized