Linda Raymond Real Estate Blog, Fairfield, Westport & More

Fairfield & Westport Living- homes, fun stuff & more!


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How’s the Housing Market? Is Now a Good Time to Sell in Westport and Fairfield CT?

How’s the single-family housing market in Fairfield and Westport Connecticut as of the end of March?Take a look at the bullets and graphs below to see how things have changed dramatically this March compared to last March, 2020, and look at the opportunities.

If you would like access to our William Raveis Local Housing Data tool and run your own graphs like the ones below, just send me a note for the link! Here are the specifics. 

In WESTPORT

Single-Family Homes Sales are UP 29% from 31 to 40 homes sold.
The Median Sale Price is UP 29% from $1,375,000 to $1,774,500.
Inventory is DOWN 47% from 289 to 153 homes for sale.
Months of Supply is DOWN 70% from 9 months to less than 3!
Market Time is DOWN 49% from 132 to 67 days.

In FAIRFIELD

Single-Family Homes Sales are UP 69% from 54 to 91 homes sold.
The Median Sale Price is UP 20% from $587,450 to $703,000.
Inventory is DOWN 55% from 479 to 217 homes for sale.
Months of Supply is DOWN 71% from 8 months to 2!
Market Time is DOWN 19% from 96 to 78 days.

The trend of extremely low inventory, increasing median sale price, and short market time continues through March into April, though we are seeing more homes come on the market. The strong buyer demand in the face of this limited choice is still causing frequent multiple offer situations.

Opportunities exist for both buyers and sellers, but the market can unquestionably benefit from more sellers entering the market! Vaccines are here, spring is here, interest rates remain low, and buyers are waiting. If you have been wondering, yes, now is the time to sell.

If you would like to discuss how to buy and sell your home in the current market, you can create your own home search to check out the market, visit my website, give me a call, 203.912.4440, or send me a note below. I’m here to help!

 


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SOLD and New Accepted Offers in Fairfield Downtown and Westport Greens Farms April 1-10, 2021

What has sold in these two hot spots? Which listings have accepted offers as of the first two weeks in April? Check out the lists below!

FAIRFIELD DOWNTOWN – Within a one-mile radius of the train.

There have been five more sales and 10 more accepted offers in Fairfield’s downtown and beach areas during the first two weeks of April.

SOLD:

NEWLY ACCEPTED OFFERS:

WESTPORT Greens Farms

SOLD:

There has been just one (yes, just one) more sale and three more accepted offers in Westport’s Greens Farms neighborhood during the first two weeks of April.

NEWLY ACCEPTED OFFERS:

Reach out to me if you are thinking of making a move, and let’s have a conversation! 203.912.4440


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SOLD and New Accepted Offers: Fairfield Downtown and Westport Greens Farms YTD through 3/29/21

What has sold in these hot spots? What listings have already accepted offers as of the last week in March? The lists are below.

FAIRFIELD DOWNTOWN – Within a one-mile radius of the train.

SOLD YTD:

NEWLY ACCEPTED OFFERS:

WESTPORT Greens Farms

SOLD YTD

Reach out to me if you are thinking of making a move, and let’s have a conversation! 203.912.4440


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Matchmaker Mystery: Do You Have What I’m Looking For? 🏡❤️

Let’s work on this matchmaker mystery together!

One of the challenges buyers are facing, along with would-be sellers, is that they can’t find what they are looking for on the market.

Many agents are sharing the criteria their buyers are looking for with the hope that someone who is thinking of selling may have a match to add to the market.

Here is my urgent buyer wish list,

  1. Westport – New or contemporary style, ~4,000 square feet, 4+ bedrooms, $1,500,000-$1,800,000, (Need two of these!)
  2. Westport – Renovation project or tear-down, 1+ acres, preferably with no wetlands, price flexible.
  3. Westport – Renovation project or tear-down, any property size, preferably with no wetlands, price flexible.
  4. Fairfield – Beach, town, Southport, or University areas, new or like-new home, 4,000 square feet, up to $1,700,000.
  5. Fairfield – Home with charm and character, preferably in the beach area, but open to anywhere in town, 3+ bedrooms, at least 1,400 square feet or room to expand, $700,000-$850,000.
  6. Fairfield – Home with charm and character, high ceilings, preferably in the beach area, center of town or Stratfield areas, 3+ bedrooms, at least 1,400 square feet or room to expand, finishable basement and/or attic, office space, level yard of .16 acres or more, $500,000-$640,000.
  7. Fairfield – Beach area, near Penfield, .23+ acres on which to renovate or build new, under $700,000.
  8. Fairfield – Town center, new or move-in ready 2-bedroom condo for rent, or sale up to $350,000.
  9. New Canaan – Walk-to-train location, 3 bedrooms, preferably new or move-in ready, high ceilings, up to $1,500,000.

If a matching property is found for the buyer needs above, the following new listings will in turn be added to the market,

  1. Westport – Gorgeous new construction home, likely with 4,000+ square feet and 5 bedrooms.
  2. Westport – ANOTHER gorgeous new construction home, likely with 4,000+ square feet and 5 bedrooms.
  3. Westport – Lovely 4-bedroom, move-in-ready home with lovely property in the Greens Farms area.
  4. Fairfield – Charming cape in the beach area.

The lack of inventory is limiting the market despite the opportunity of very low interest rates and an excellent time to sell for all interested home owners.

So if you have something, say something! 😃 If you know of something, say something! 😃 Want to talk options? Say something. I’m here to help, 203.912.4440.


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Financial Stress: 6 Strategies Seniors Can Use to Find Relief

Thank you to our guest writer, Jim Vogel from eldersinaction.org for this article!

Photo by Unsplash

Financial stress is a never-ending problem that can lead to physical and mental health challenges for older adults. While research shows seniors aren’t the group most stressed by finances, they often have unique challenges when it comes to money. Mainly, they have fewer options for finding relief.

If you or a senior loved one is experiencing financial stress, there are some big and small ways to manage the situation. 

1. Get better healthcare and insurance rates.

Now is the time to shop around for your insurance options. You may be paying more than you should or for services you don’t need. Healthcare is a complicated system and can be challenging to navigate alone. You may find ways to save money by talking to an agent. 

We also recommend looking at the costs of other kinds of insurance, like life and homeowners insurance, to see if there are more affordable options out there.

2. Downsize.

The costs of maintaining a larger home can add up. If you’ve got sky-high utility bills and more space than you need, it may be time to consider downsizing. By selling your current home, you may be able to purchase a new home outright and use the remaining money to help fund your retirement. Before putting your home on the market, research how much you can expect to earn from a sale, and make sure you consult an experienced realtor in your area. 

3. Explore alternative transportation.

If you are a senior who is driving less and less, you might be able to save money by changing your transportation methods. If driving isn’t necessary, consider selling your car. This will not only give you quick cash on hand but also save you monthly car insurance payments, as well as routine car maintenance and upkeep. 

Senior support website Daily Caring notes that seniors have many transportation options — some can get everywhere they need to by bus or through a family member, while others take advantage of rideshares or senior-specific public transportation options.

4. Shop at secondhand stores.

Seniors can save a great deal of money by purchasing gently-used items at secondhand stores. There are many upper-end consignment stores that allow seniors to purchase high-quality clothes, furniture, appliances, kitchenware, and other household goods at even greater discounts. Be sure to look and see if there is a certain day or time of day where seniors can take advantage of additional discounts. There are even online secondhand options like Thred-Up and Poshmark. 

5. Take advantage of senior deals and discounts.

Many businesses offer seniors special deals and discounts to help make their goods and services more accessible and affordable. People over 65 can get anything from meals to groceries, entertainment to investments, at special rates and discounts. The Senior List provides one of the most comprehensive lists of senior deals and discounts. These deals can help you enjoy a quality of life that is fun and exciting without worrying excessively about costs.

6. Share meals with neighbors and friends.

Senior isolation can be a serious health condition for people over 65, especially those concerned with finances. They may go out less for fear of spending too much money. However, sharing meals with neighbors and friends can relieve both burdens. You’ll share the financial cost of cooking, while also spending quality, social time with loved ones. Even cooking together can be a social occasion. Seniors who share meals two or three times a week often report a social and financial benefit.

Any health issue can be exacerbated by financial stress and strain, which makes seniors particularly at risk. That’s why exploring these free or low-cost activities can help both the mind and body cope with financial hardships. 

If I can be of assistance to you, please feel free to reach out.


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Get Housing Market Insights in Real-Time!

The 2021 housing market is still hot and median sale prices are still up! 📈⬆️⭐️ 

Did you know you can easily compare real-time sales and inventory trends on our Local Housing Data link which you can keep right on your phone? Or for comprehensive local data reports, sign up for our Local Market Insights newsletter on raveis.com.

Take advantage of all of our curated tools and contact me today, 203.912.4440 to find out the best time to sell!

#2021 #LindaRaymondRealtor #WilliamRaveis #TheBestJustGotBetter #RealEstateMarketUpdate #RealEstate #IntheKnow #NumbersDontLie


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How’s the Local Housing Market Right Now? Westport and Fairfield CT – February 2021

How’s the single-family housing market in Fairfield and Westport Connecticut as of February? Take a look at the bullets and graphs below to see how things have changed dramatically this February compared to last February, 2020.

If you would like access to our William Raveis Local Housing Data tool and run your own graphs like the ones below, just send me a note for the link!  Here are the specifics. 

In WESTPORT

Single-Family Homes Sales are UP 68% from 25 to 42 homes sold.
The Median Sale Price is UP 44% from $1,115,000 to $1,600,000.
Inventory is DOWN 48% from 308 to 159 homes for sale.
Months of Supply is DOWN 71% from 10 months to less than 3!
Market Time is DOWN 55% from 155 to 70 days.

 

In FAIRFIELD

Single-Family Homes Sales are UP 39% from 36 to 50 homes sold.
The Median Sale Price is UP 33% from $525,000 to $697,500.
Inventory is DOWN 60% from 474 to 191 homes for sale.
Months of Supply is DOWN 73% from 8 months to 2!
Market Time is DOWN 32% from 113 to 77 days.

 

The trend of extremely low inventory, increasing median sale price, and short market time continues through February. The pace of Fairfield’s market appears to be limited even more than Westport’s by the severe decline in inventory. The strong buyer demand in the face of this limited choice is causing multiple offer situations at nearly every turn.

Opportunities exist for both buyers and sellers, but the market can unquestionably benefit from more sellers entering the market! Vaccines are here, spring is coming, buyers are waiting….

If you would like to discuss how to buy and sell your home in the current market, you can create your own home search to check out the market, visit my website, give me a call, 203.912.4440, or send me a note below. I’m here to help!

 


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Should I Sell My House?

Your home has been just perfect with plenty of space for you and all your needs…until now.

But since the pandemic you may be finding that you, and possibly your family members, have very different needs. This challenging time has certainly given you opportunity to test and evaluate how well your home is serving your changing demands. If you have transitioned to working from home, and may even be alongside your students doing the same, your need for extra space may have become increasingly obvious.

Now you may be wishing you had extra rooms for his and her offices, a homework space, and room for a home gym. If you’re coming from the Manhattan or Brooklyn areas, you are likely craving not just interior rooms, but outdoor space, beauty, privacy and peacefulness. The vicinity to downtown centers and train stations may not be as important as it once was now that the need for frequent commuting is likely a thing of the past.

On the flip side, perhaps your family has college students who have been off to school or will soon be graduating and leaving extra un-wanted space. This would be a prime time to make a move to a better-fitting home. Selling your too-much-space house would also free up your larger home for the many of you who in dire need of more space.

Whether you are feeling too close for comfort or a need to scale back, the current housing market with ultra-low inventory and high demand is beyond prime for sellers, and the current low interest rates also offer a huge opportunity to make a purchase. Feel free to set up your own search here if you would like to peek at market activity near you. Reach out to me anytime if would like to know your options for making a move and want to know what your home is worth in the current market.


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How’s the Local Housing Market in Fairfield and Westport CT – January 2020 vs 2021?

So how did our single-family housing markets in Fairfield and Westport Connecticut do this January compared to January 2020? As you’d probably expect, it’s been a chilly market for buyers! In a nutshell, sales and prices were UP, market time and inventory were DOWN. If you would like me to send you the link to the William Raveis Local Housing Data tool so you can run graphs like the ones below, just send me a note!  Here are the specifics from William Raveis. 

In FAIRFIELD

Single-Family Homes Sales Increased 77% from 35 to 62.
The Median Sale Price Increased 1.4% from $639,000 to $648,000.
Market Time Decreased 43% from 114 to 65 days.
Inventory Decreased 53% from 425 to 207 homes for sale.

 

In WESTPORT

Single-Family Homes Sales Increased 50% from 22 to 33.
The Median Sale Price Increased 31% from $1,187,500 to $1,555,000.
Market Time Decreased 44% from 156 to 87 days.
Inventory Decreased 51% from 296 to 146 homes for sale.

 

Of particular note is that the number of homes for sale began to decline in June 2020 in both towns at the same time that sales were rising. Unit sales spiked in July through September in Fairfield and July and August in Westport. This trend is self-limiting by the lack of homes on the market. Inventory is now at an all time low, and new listings have been dripping into the market very slowly. There is not nearly enough choice to satisfy the current buyer demand and the added buying incentive of low interest rates. The series of snow storms during the past few weeks has also contributed to discouraging would-be sellers.

However, as of the third week of February, the pace of new listings entering the market appears to be picking up. With vaccine distribution on the rise and a much anticipated spring around the corner, things may be heating up very soon!

If you would like to discuss how to buy and sell your home in the current market, you can create your own home search to check out the market, visit my website, or send me a note below. I’m here to help!

 


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Searching for that Special Valentine Gift 2-14-21

Happy Valentine’s Day 2021, everyone! After receiving lovely pink roses and a new pink sweater from my dear husband, I am off to try and make the day special for my home buyers as well.

I have found the perfect homes after whirlwind searches in Fairfield and New Canaan for four different buyers and am working on offers. My clients are coming from New Jersey, Massachusetts, Connecticut, and New York and are ready to put the current low interest rates to work for them. Today I’m off for a second look at a lovely top choice in New Canaan for my New York buyer.

Here I am in downtown New Canaan to make sure this could be the special Valentine gift for my client this weekend.

Even when we are finding that special home, we are facing multiple-offers on all fronts, and I’m utilizing every possible strategy in the toolbox, so wish us luck!

Sellers, this is the time to enjoy top dollar in record time for your property in Fairfield County. If you’re ready and willing to capitalize on this market, please give me a call, 203.912.4440!