So how’s the summer real estate market in Fairfield and Westport Connecticut? Are sellers listing their homes? Are buyers making offers? Here’s the summer 2015 scoop in Fairfield and Westport with a spotlight on the Fairfield beach and Greens Farms areas.
As of last week, there were a lot of single family homes on the market in Fairfield, 633 to be exact, compared to 542 at the end of July last year! Fourteen percent (14%) of these houses had accepted offers. This is great compared to only 9% with binders last July.
The beach area market was not quite as strong as the town-wide market, with 12% of listings securing offers. However, this ratio was more positive than last summer when the beach area’s home sellers accepting offers matched the town-wide tally of 9%. Of the 15 beach area homes with offers, seven were priced over $1 million, four were between $600,000 and $1 million and four were under $600,000. So there was a good range of prices.
Beach area new construction was exceeding the town’s ratio, with five accepted offers out of 30 listings, or 17%. Click the image above for a representative view of the construction going on all over the beach area right now. Direct waterfront in the beach area demonstrated more sluggish activity than the rest of the beach area and town with a 10% ratio of offers to active listings, that’s 4 out of 39.
Westport inventory was also high with 402 houses for sale compared to about 350 in July last year. This season’s market was slightly more positive than in July 2014 with 7% of listings taking offers compared to 6%.
Greens Farms was a hot subset of the Westport market, with 12% of the 49 listings securing acceptable offers. Half of the six offers were listed above $1 million and half below.
New construction listings in Greens Farms weren’t moving as fast as the rest of the neighborhood with one binder out of 12 listings, or 8%.
So yes, sellers are listing their homes, and buyers are bidding on them. The ratio of accepted offers to active listings is a leading indicator of what’s to come, and this summer it’s shown variablility based on town, neighborhood, and property type.
As always, pricing your home competitively and staging it for maximum appeal will attract buyers to your listing. There’s still time before August vacations to get your price right if you’re selling and get your bid in if you’re buying. Be sure to check out the featured homes for sale below!
New Construction on the Beach, Fairfield – $2,545,000 New price!
Summer Beach Cottage, Fairfield – $1,245,000 New price!
Carefree Beachfront Condo, Fairfield – $915,000 See Quick-Film!
Like-New Home at the Beach, Lordship – $879,000 New Price!
Bright Beach Area Colonial, Fairfield – $625,000 Off the market, sale pending!
Charming Cape, Convenient Location, Fairfield – Off the market to be rented starting October 1st.
Feel free to contact me any time with questions, showing requests or for a complimentary market analysis of your home.