Market Overview: Fairfield, CT

Single Family Properties




December Headlines
Fairfield
  • 3-month unit sales are up 14.4% to 159.
  • 3-month price per square foot in December was $266. This is down 4.3% from $278 in December of 2016.
  • 3-month sales/list price ratio is up by 1.2%.
Nearby Areas You May Be Interested In
  • Median price in Norwalk is down 8.3% to $440,000.
  • Days on market in Ridgefield in December was 116. This is down 27.5% from 160 in December of 2016.
  • 3-month unit sales in Ridgefield are down by 9.5%.
Headlines are based on comparisons between this month and the same month last year unless otherwise stated.

Changes Favoring Buyers
3 Months Ending December, 2017% Chg From Dec, 2016
Price per Sq Ft for Sold $266 -4.3%
Changes Favoring Sellers
3 Months Ending December, 2017% Chg From Dec, 2016
Unit Sales 159 14.4%
Median Sale Price $585,000 4.3%
Inventory 427 -16.3%
Months of Supply 6.7 -20.9%
Market Time (Days) 105 -1.9%
Sales to List Price Ratio 95.8% 1.2%
New Listings 182 -13.7%
Went To Contract 155 10.7%
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Sales
There were 50 unit sales in December. This is down 9.1% from 55 in December of 2016. On a year-over-year basis, unit sales have been falling for 6 months. This is the lowest unit sales have been since 45 in March, 2017. Sales/list price ratio in December moved up to 95.9% from 94.9% in November.

Prices
Median price in December was $572,500. This is up 10.5% from $518,000 in December of 2016. 3-month median price this month is $585,000, the same as last month.

Inventory
Inventory of 348 in December was down 19.3% from 431 in November and down 21.1% from 441 in December of 2016. New listings of 36 in December were down considerably from 49 in November and down modestly from 42 in December of 2016. Months of supply of 5.5 in December was down slightly from 6.7 in November and down considerably from 7.3 in December of 2016. On a year-over-year basis, months of supply has been falling for 7 months.

Market Time
Days on market of 99 in December was down modestly from 113 in November and down slightly from 107 in December of 2016.


Change in Median Sale Price for Single Family Properties YTD From 2016 To 2017 for Towns in Fairfield County, CT Ranked by Best Performance
Towns% Change
Bridgeport 13.07%
Danbury 11.11%
Trumbull 6.38%
Greenwich 5.88%
Norwalk 5.11%
Darien 4.35%
Bethel 4.23%
Stamford 2.93%
Monroe 2.88%
Stratford 2.81%
Data From: SMARTMLS
Towns with an average of at least 5 sales per month (maximum of 10)
 








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