Real Estate Market Report for Fairfield, CT – August 2014
Single Family Properties
In Fairfield, CT, three-month single family property unit sales were down by 19.0% for June to August 2014 compared to the same time period last year. The price per square foot was down 8.2% to $288. There were 90 new listings in August, which is up 18.4% from 76 in August of 2013.
Sales
There were 77 unit sales in August. This is down 18.1% from 94 in August of 2013. Sales/list price ratio in August moved up to 96.7% from 96.2% in July.
Prices
Median price in August was $596,000. This is up 0.4% from $593,500 in August of 2013. 3-month median price of $599,000 in August was down marginally from $618,000 in July and down just slightly from $600,000 in August of 2013. Price per square foot in August was $288. This is down from $302 in July and down from $313 in August of 2013.
Inventory
Inventory of 556 in August was down 1.6% from 565 in July but up 16.8% from 476 in August of 2013. New listings of 90 in August were down a little from 107 in July but up slightly from 76 in August of 2013. Months of supply of 9.8 in August was up just slightly from 9.7 in July and up a little from 8.2 in August of 2013.
Market Time
Days on market of 104 in August was up slightly from 97 in July and up modestly from 94 in August of 2013.
| Changes Favoring Buyers | ||
| 3 Months Ending | August, 2014 | % Chg From Aug, 2013 |
| Unit Sales | 239 | -19.0% |
| Median Sale Price | $599,000 | -0.2% |
| Inventory | 568 | 10.3% |
| Months of Supply | 9.6 | 3.1% |
| Market Time (Days) | 99 | 6.5% |
| Price per Sq Ft for Sold | $298 | -2.3% |
| New Listings | 328 | 6.8% |
| Listings Under Contract | 214 | -17.7% |
| Changes Favoring Sellers | ||
| 3 Months Ending | August, 2014 | % Chg From Aug, 2013 |
| Sales to List Price Ratio | 96.7% | 0.5% |
