Linda Raymond Real Estate Blog, Fairfield, Westport & More

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A Great Meal and a Market Update!

My husband and I earned a little ‘found’ time for a dinner out over the weekend when our nine year old daughter, Emerson, was invited to her friend’s house at the beach.  We went to Martel on the Post Road in Southport. My husband is a big fan of the Martel Meatloaf, but I have to say that the Trout Meuniere with haricots verts & white bean salad is absolutely delicious! I highly recommend it, especially if you want to eat healthy. Of course, if you’re looking for something rich and decadent, you must try their Cheese Fondue for Two!   Martel Logo

So, what’s happening in Fairfield’s housing market? We currently have 507 single family homes and 91 condos on the market. With 201 sales in the past six months, this equates to an average of 34 sales per month and a 15-month supply of single family homes for sale. A six-month supply indicates a balanced market and less than this indicates a seller’s market, so we are still clearly in a strong buyer’s market.

Nine homes have sold in June so far, ranging in price from $197,500 for a home on Rakoczy Avenue to $750,000 for a home on Collingwood. This puts the average sale price this month so far at $478K. Looking ahead, 105 more homes are under contract and ready to close! Forty of these are priced up to $500K, 19 are in the $500K-$700K range, 21 are in the $700K-$900K range, eight are listed between $900K and $1mil, 14 are in the $1mil-$2mil range and three are listed above $2mil. In addition, 49 homes are under binder with an accepted offer, including a property on Senate Lane listed for $5mil.

So we should expect to see an increase in sales ranging through all the price points in the next month or so.

Is there something specific you are wondering about in Fairfield’s real estate market? Enter a comment below with your question, and I’ll do my best to respond in my next blog post!

Originally Posted on Fairfield Patch June 23, 2011 at 1:11 amMartel Logo Halloween Party 2008 012