July 03, 2007
July 02, 2007
Real Estate Market Trends and Analysis
The real estate market for 2006 in Fairfield, Ct. has been interesting to say the least. Inventory is building, with 550 homes on the market as of July compared to 275 a year ago. Conversely, as of June this year there were 321 properties closed compared to 390 in 2005 and 409 in 2004 - a 22% decrease. On the positive side, however, the average selling price through June '06 is $838,791 compared to $777,854 in 2005 and $680,685 in 2004 - a 23% increase.
The landscape appears black and white in that the properties which are sellinng have a high degree of interest while others remain in a state of flux. There seems to be no middle ground. Looking forward, buyers remain in the hunt for homes that they perceive to have a distinct quality about them or that are priced in line with current market conditions.
HOW'S THE MARKET?
January 2008
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