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!