Fairfield Beach in Review: October 2020

Market Activity on
Fairfield Beach Road, Pine Creek Avenue, & Old Dam Road

What’s On the Market?

Fairfield Beach Road

• 12 single-family homes are for sale.
• Five are new construction listings priced from $1,495,000 to $2,995,000. Two have not been built yet.
• Of note is that there are three new construction listings priced at $2,995,000. One is on more than a third of an acre and sits across from Penfield Beach and the other two are on small lots on the beachfront near the very end of the peninsula.
• Four properties have a dock on the Pine Creek waterway.
• Two of the properties have a guest house.

There are no active listings available on Pine Creek Ave or Old Dam Road.

What Sold, Mid-August to Mid-October?

• Five single-family homes sold at the beach from August 15 through October 15.
• Two condos sold, one on Fairfield Beach Rd across from the beach for $715,000 and a penthouse on Pine Creek Avenue for $1,125,000.
• Single-family sale prices ranged from $1,560,000 to $5 million.

What About Accepted Offers?

• There are currently six accepted offers on Fairfield Beach Rd with prices ranging from $728,000 for a non-beachfront condo to $4,495,000.
• There is one accepted offer on Pine Creek Avenue for a home priced at $995,000.

Interestingly, compared to last year, the same sales activity occurred during this timeframe.  Five homes sold and two condos sold, one condo on Fairfield Road, and one on Pine Creek Avenue.  However, the sale prices for the single-family beach houses were quite a bit lower, ranging from $700,000 to $1,750,000 last year, mid-August  to mid-October.

So the word on the street is that air may be getting cooler, but the waterfront market remains quite warm!  Who is ready to take a dip? 🙂

 If you have any questions about this market and what it can mean for you, please reach out to me at 203.912.4440, Linda.Raymond@raveis.com , or using the form below.  I’m here to help!

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After a Very Long Home Search, Number 62 Wins!

After an exhaustive home search, my clients finally came upon the home of their dreams in Rowayton and put in an offer. But by that time, the pandemic was off to a strong start and so was the competition in the market for home buyers.

We had closed many weeks earlier on the sale of their home in Southport and had been targeting Darien as they hunkered down in their temporary residence in a hotel. However, after losing a lovely home to multiple offers, nothing seemed to stack up to the benchmark my clients now had in their minds. Or nothing lasted on the market long enough for them to see with their busy work schedules. Or nothing matched the price they felt it was worth. After months of looking in Darien, we renewed focus on Greenwich… and then Rowayton.

A day in the life of a Realtor in Rowayton….

It turns out that this was the special day when the one of a kind gem they had been searching for was found and their offer was accepted. After touring dozens of homes across three towns, this historic antique near the Long Island Sound, previously a sea captain’s home, was about to begin a new chapter. This vintage home was number 62 of their home search, but for them, it was new and exciting, and number one!

 

End of Summer Real Estate Pop Quiz!

Take the Pop Quiz about the local single-family housing markets at the end of the summer in Westport and Fairfield. Then check your answers below and watch my video that explains the numbers also spotlights our October opportunities!

Westport

1. What was the top selling price range in August and September?

A. $1.4 m – $1.5 m

B. $1.5 m – $1.6 m

C. $2 m  – $2.249 m

2. Which price range currently offers the most listings for sale?

A. $1.1 m – $1.2 m

B. $2.5 m – $3.5 m

C. $5 m – $10 m

Fairfield

3. What was the top selling price range in August and September?

A. $500K – $550K

B. $600K – $650K (3rd place)

C. $700K – $750K (2nd place)

4. Which price range currently offers the most listings for sale?

A. $400K – $500K = 22 active listings

B. $750 – 850K  (17 homes for sale)

C. $1.1 m – $1.3 m (13 homes for sale)

ANSWERS

Westport
1. A (followed by B & C)
2. B (with 36, C with 16, and A with 10 homes for sale)

Fairfield
3. A (followed by C & B)
4. A (with 22, B with 17, C with 13 homes for sale)

SmartMLS 10/9/2020

Please share your comments or questions below, and I will respond within one day.

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My Three Favorite Videos of Serene Seaside Homes

Relax and enjoy some calm shoreline beauty to soothe your soul.

Since now is a time of stress for many, I wanted to share my three favorite videos of beach properties that are serene and beautiful to watch.  So click on an image to start the video, sit back, and let them take you away. Enjoy!

Twilight tour on the creek…

Glide through this stunning antique home on the creek side of Fairfield Beach Road as dusk approaches.

Soar over the Long Island Sound…

Soak in the beauty of this beachfront and creekside home with jetty views.

A peek at the peninsula…

Soar over and through this delightful home on the peninsula of Fairfield Beach Road.

Feel free to reach out to me with any questions or comments using the form below, and I will respond quickly.

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Fairfield Beach in Review: August 2020

Market Activity on
Fairfield Beach Road –  Pine Creek Avenue – Old Dam Road

What’s On the Market?

Fairfield Beach Road

• 12 single-family homes are for sale.
• Four are new construction listings priced from $1,500,000 to $3,200,000. Three are complete and sit across the street from the water. Two are under construction, one on the creek, and one on the beach with a creekside parcel and a dock.
• Seven of the listings are on direct beachfront and priced from $1,700,000 to $5 million.  Two of these have additional creekside property, and one also has a dock on the creek.
• There are three creek-front listings priced from $2 million for a home with a dock to $2,570,000 for a new home under construction.

Pine Creek Ave

• There is one waterfront property for sale for $2,495,000.

Old Dam Road

• There is one property for sale on about a third of an acre that is not on the waterfront for $875,000.

What Sold, Mid-June to Mid-August?

• Four single-family homes sold since mid-June including three on Fairfield Beach Road, and one on Old Dam Road.  Two were on the beachfront and two on the waterway.
• One condo across the street from the water sold on Fairfield Beach Road for $715,000.
• Single-family sale prices ranged from $700,000 for a home not on the water on Old Dam Road to $3 million for beachfront renovation/new construction on Fairfield Beach Road.

What About Accepted Offers?

• There are currently two homes under contract, a three-years-young beachfront home on Fairfield Beach Road listed for $2,795,000 and a beachfront condo on Pine Creek Avenue on the market for $1,135,000. 
• Three homes on the beach have accepted offers with list prices ranging from $1,695,000 to $2,395,000.

There have been nine sales so far this year through August 15 compared to 14 last year during this timeframe, however the five accepted offers should catch us up. One improvement we have seen this year is the beach homes selling closer to the asking price. On average the nine sales this year closed at 96 percent of the asking price compared to 94% last year.

Still, this year’s beach market has been a bit slow compared to other blazing markets driven by the pandemic. For example, in the entire Fairfield Beach Area (including homes closer to town), there were 95 sales year to date that sold for an average of 97 percent of asking compared to 78 sales YTD in 2019 selling on average for 96 percent of asking.

So the word on the street is that we may be in the dog days of summer at the beachfront, but the market overall is still hot!

 If you have any questions about this market and what it can mean for you, please reach out to me at 203.912.4440, Linda.Raymond@raveis.com , or using the form below.  I’m here to help!

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Fairfield Beach in Review: June 2020

Market Activity on
Fairfield Beach Road –  Pine Creek Avenue – Old Dam Road

What’s On the Market?

Fairfield Beach Road

• 13 single-family homes are for sale.
• Four are new construction listings priced from $1,500,000 to $3,200,000. Two are complete and sit across the street from the water. Two are under construction, one on the creek, and one on the beach with a creekside parcel and a dock.
• Eight of the listings are on direct beachfront and priced from $1,350,000 to $3,775,000.  Five of these have additional creekside property, and two also have a dock on the creek.
• Two listings are on the creek priced at $2,195,000 for a home with a dock, and $2,269,000 for a new home under construction.

Pine Creek Ave

• There is one property for sale, a penthouse condo at Kensie Point, 10 Pine Creek Avenue, 501S for $1,135,000.

Old Dam Road

• There is one property for sale on a 0.72-acre creekside parcel with a dock listed for $1,980,000.

What Sold So Far in 2020?

• Four single-family homes sold in April and May including one on Fairfield Beach Road, one on Pine Creek Avenue, and two on Old Dam Road.
• Sale prices ranged from $580,000 for a home off the water at 57 Pine Creek Avenue to $1,375,000 for a home at 2087 Fairfield Beach Road.

What About Accepted Offers?

• There are currently two homes under contract, (my listing), a creekside home with a dock at 1690 Fairfield Beach Road listed for $1,095,000 and a newly raised home that is currently under construction on the beach at 1092 Fairfield Beach Road listed for $3,000,000. 
• Two non-waterfront properties have accepted offers. One condo on Fairfield Beach Road and one house on Old Dam Road, listed for $729,000 and $700,000 respectively.

Sales activity on the waterfront this year has some catching up to do to match 2019 activity. Last year there were seven sales in February through May with sale prices ranging from $980,000 on Old Dam Road to $2,455,000 for (my listing), a large home on the beach with a creekside garage and finished space above it.  The late start of this year’s beach market is not surprising given the onset of the pandemic. However, the real estate market overall has seen an influx of activity from low interest rates and swarms of people leaving New York City, so the word on the street is that ‘summer is the new spring‘, and many anticipate a busy beach market ahead!

 If you would like to discuss the value of your property in this market and how I would market it for you, please contact me at 203.912.4440, Linda.Raymond@raveis.com , or using the form below.

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Summer 2020: 5 Things You Should Know About the Real Estate Market Right Now!

It’s a very dynamic time right now in real estate and a great time for anyone interested to jump into the action.  Here are five things you should know.

1. Inventory Is Low! – There are fewer homes for sale resulting in a limited choice for buyers right now which creates competition for the homes on the market and can push up the selling price. Look at the difference in the number of homes for sale in Fairfield and Westport in May compared to May of 2019! The marketplace is in need of more homes for sale. This creates a huge opportunity for sellers!
2. Interest Rates are at an All Time Low! – Although there has been daily fluctuation in interest rates, they have remained extremely attractive.  In fact, this week the rate for a conforming loan up to $510,400 has dipped to 2.85% for purchasers with high credit scores and a twenty percent downpayment. So there’s an excellent opportunity for buyers to finance a purchase at an amazingly low rate. This is great news for sellers as well because these low rates make their homes more affordable! Click the image from your phone and download the mortgage app!
3. Summer is the New Spring! The real estate marketplace is very busy right now for a few key reasons. Realtors and everyone else in the industry have adapted to working in safe mode, there is pent up demand from the initial pandemic slowdown, and it’s a great time to buy and sell! If you are thinking of buying a home and want to take advantage of the low interest rates and increased home affordability, reach out to me so I can help you get that perfect new home.  Sellers, take note of the sample prep list above and the new Raveis Refresh program that’s here to help you with it. Reach out to me, and I will help you to make the process seamless!
4. Raveis Refresh Is Here for You!
   

   Quick Video explaining Raveis Refresh

   If you have thought about selling but feel overwhelmed by what needs to happen to get your house ready, fear not! Raveis Refresh is a new service that is here to provide you with nearly anything you need, from help packing, to staging, painting, kitchen or bathroom renovations, and repairs, small to large.  The cost is completely deferred until closing, so no worries about that either.

5. Real Estate is Expected to Drive Economic Recovery! Did you know that a recent study by the National association of Realtors indicates that the sale of just one home in the US results in an economic boost of $88,416?  Because of this, many experts are predicting real estate to lead to the country’s economic recovery.

So there are exciting opportunities for everyone right now, and you can even boost the economy when you make a move to help yourself.  Reach out to me anytime so I can help you with your next steps.

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Beach in Review: Fairfield 2019 into 2020!

Market activity on
Fairfield Beach Road –  Pine Creek Avenue – Old Dam Road

What’s On the Market?

On the Market: 1690 Fairfield Beach Road

Fairfield Beach Road

• 10 single-family homes are for sale.
• Three are new construction listings priced from $1,900,000 to $3,200,000. One is nearing completion and sits across the street from the water. Two are proposed new construction on direct beachfront.
• There are two listings on the creek with a floating dock, 1690 and 1522 Fairfield Beach Road, priced at $1,150,000, and $2,350,000 respectively.
• Seven of the 10 listings are on direct beachfront and priced from $1,699,000 and $3,775,000.

Pine Creek Ave

• There is one property for sale at 57 Pine Creek Avenue for $599,000.

Old Dam Road

• There are three properties for sale on the creek with a dock with prices ranging from $649,000 to $1,099,000.

Source: SmartMLS Updated 2/12/2020

What Sold in 2019?

• 20 single-family homes sold including 15 on Fairfield Beach Road, four on Pine Creek Avenue, and one on Old Dam Road.
• The highest sale price was $2,900,000 on Pine Creek and the lowest was $549,000 for an antique cottage on Fairfield Beach Road.
• Two condominiums sold, one in the Burr Court complex on Fairfield Beach Road, and one at Kensie Point on Pine Creek Avenue.
• There is currently one home under contract on Fairfield Beach Road listed for $3,000,000. 

The 2019 waterfront market enjoyed a higher median sale price of $1,527,500 compared to $1,460,000 in 2018. Twenty single-family homes sold in both 2019 and 2018, and there was one condominium sale in 2018 and two in 2019.  As we begin 2020 with low interest rates, a nice selection of active beach listings, and one home already under contract, I’m optimistic for a great year ahead.  If you would like to discuss the value of your property in this market and how I would market it for you, please contact me at 203.912.4440, Linda.Raymond@raveis.com , or using the form below.

2020 should be great, and I can’t wait!

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“Water Craft” on the Market at 1690 Fairfield Beach Road!

Commanding a premium location on the road with a coveted dock at the ready, this home will make your dreams come true. Enjoy the blissful existence of waterfront living whether you’re in the water, on a vessel or just taking in the sea breezes! No matter which direction you gaze, awe-inspiring beauty will make your spirits soar, as you have found a true work of art on the water.
Re-imagined in 1993, this home was featured on the cover of book, “Designing with Glass – The Creative Touch” for its soaring ceilings and walls of glass capturing breathtaking water vistas that extend into the clouds.

The cunning design strategy arranges this home ‘right side up’ ensuring the main living spaces are guaranteed the most phenomenal views. Changing tides, a winding waterway, and spectacular sunsets are always on display from the architectural windows and the upper deck. The open-concept space puts the kitchen at the bow featuring a built-in bench, limestone counters, stainless appliances, and of course, an island.

The open dining and living areas in a great room with a fireplace and two fans hanging from the vaulted ceiling complete this space.

The chic master bedroom likewise captures dynamic views of vessels cruising Pine Creek from the lower deck. At high tide, you feel like you’re looking out to sea from your penthouse cabin on the ultimate cruise ship. A guest bedroom, third bedroom or office, elegant hall bath, and laundry complete the garden level. Seaside gardens with a romantic pergola, climbing hydrangeas, flowering crab apple, and roses present themselves at the entrance to this exceptional property and maintain your gaze as you enter the glass-walled foyer.

The home blends natural materials like seabed fossil stone and ultra wide-plank wood floors with high tech surfaces like the UV wind-resistant windows. It marries an antique front door with contemporary architecture.  And it resides on prime waterfront in a vibrant town rich in culture, arts, and history.  Chic eateries, universities, train stations, beaches, and even a SportPlex, are all a few minutes from here and just an hour from Manhattan.  Welcome to Water Craft, your dream come true!

Click to take a twilight tour!

Please use the form below to request more information or schedule a showing. You can also call or text, 203.912.4440.

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Enchanting 33 Pansy Circle!

Your home is your castle, and enchanting 33 Pansy Circle in Fairfield, is ready to make some dreams come true.  Take a look at the trending story…! 

Perhaps you or a friend are the perfect addition to this coveted enclave? Everyone here is friendly and supportive of one another. It’s a warm and festive neighborhood atmosphere, and when the weather’s nice, everyone likes to be outside.  The basketballs and soccer balls have been known to bounce around the circle! Other times there’s a peaceful retreat to respective back yards for a relaxing barbecue. The residents can’t wait to greet their new neighbors!

This grand colonial finished on 4 levels is a gem on the university cul-de-sac! Amazing Teen-Suite/NannyQuarters/Office/Yoga Studio or 6th Bedroom with a full bath sits above the charming peaked garage. Better than new, and much bigger than it looks from outside, this home features 9-foot ceilings and open flow.

It also offers incredible custom high-end details, including extensive millwork, Klaff lighting, Italian Bertazzoni stove, and even a garage with a gleaming epoxy floor and a Wifi door opener that magically responds to your smartphone commands! The elegant gourmet Eat-In-Kitchen and Breakfast Area open to the generous Family Room with stone fireplace.

The second floor includes a Master Suite with luxury bath and jacuzzi tub, three additional bedrooms, a large hall bath with a granite double-sink vanity and separate water closet and bathing area, and a Laundry Room.

Vaulted ceilings top the 3rd level with a large bright Bonus space, 6th Bedroom, & full bath.

The partially finished Lower Level with high ceilings adds 717 sq ft of living space featuring a huge Rec Room/Home Gym with a wall of built-ins, another large room (now the Ping-Pong room!) that can easily be finished, plus tons of storage.

The stylish Mudroom with stone floor leads to the patio and private fenced yard.

This special abode also features in-ground utilities and sprinkler system, energy efficiency, and room for a pool. Walk to Osborn Hill, around the corner from Black Rock Turnpike amenities, minutes to town, train, beaches, and highways from this excellent location.

Take a virtual tour, watch the video walk-through, and check out the listing. Elegant & enchanting! Make 33 Pansy Circle your new home, and let your dreams come true!

As featured in the Connecticut Post!

         

If you have any questions or comments about this post or would like to arrange to see this property, enter your note below, and you will receive a quick response.

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