Market Overview: Fairfield, CT

Single Family Properties




October Headlines
Fairfield
  • Median price is down by 15.2%.
  • 3-month unit sales are up 18.2% to 208.
  • Months of supply in October was 7.9. This is down 15.9% from 9.4 in October of 2016.
Nearby Areas You May Be Interested In
  • Median price in Ridgefield is up 4.1% to $628,750.
  • Year-to-Date unit sales in Norwalk in October were 568. This is down 1.9% from 579 in October of 2016.
  • 3-month sales/list price ratio in Ridgefield is down by 0.6%.
Headlines are based on comparisons between this month and the same month last year unless otherwise stated.

Changes Favoring Buyers
3 Months Ending October, 2017% Chg From Oct, 2016
Median Sale Price $582,500 -10.0%
Market Time (Days) 105 4.0%
Price per Sq Ft for Sold $269 -0.3%
Changes Favoring Sellers
3 Months Ending October, 2017% Chg From Oct, 2016
Unit Sales 208 18.2%
Inventory 517 -11.0%
Months of Supply 8.3 -12.4%
Sales to List Price Ratio 96.0% 0.3%
New Listings 301 -16.6%
Went To Contract 185 31.2%
Click here to see monthly and longer-term averages.

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Sales
There were 51 unit sales in October. This is up 18.6% from 43 in October of 2016. On a year-over-year basis, unit sales have been falling for 4 months. This is the lowest unit sales have been since 45 in March, 2017. Sales/list price ratio in October moved up to 96.7% from 95.6% in September.

Prices
Median price in October was $530,000. This is down 15.2% from $625,000 in October of 2016. This is the lowest median price has been since February, 2017. 3-month median price of $582,500 in October was very slightly up from $580,000 in September but down modestly from $647,500 in October of 2016. Price per square foot in October was $264. This is down from $266 in September and down from $287 in October of 2016.

Inventory
Inventory of 495 in October was down 4.8% from 520 in September and down 14.5% from 579 in October of 2016. New listings of 97 in October were down somewhat from 128 in September but very slightly up from 94 in October of 2016. Months of supply of 7.9 in October was down modestly from 8.4 in September and down slightly from 9.4 in October of 2016. On a year-over-year basis, months of supply has been falling for 5 months. This is the lowest months of supply has been since January, 2017.

Market Time
Days on market of 102 in October was down a little from 120 in September and down modestly from 116 in October 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 11.67%
Danbury 10.29%
Norwalk 6.94%
Trumbull 5.69%
Greenwich 5.55%
Bethel 4.79%
Stamford 3.63%
Stratford 3.31%
Darien 2.89%
Westport 2.59%
Data From: SMARTMLS
Towns with an average of at least 5 sales per month (maximum of 10)
 








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