September Market Update


Urban Rental Collapse
August Home Sale Statistics
Highest and Lowest Sales for the Month

Fairfield County continues to see an influx of urban renters and high demand for single family homes, while inventory levels remain low. The multiple offer trend continues. While mortgage rates remain very attractive, cash offers have a clear advantage for sellers, but not so much for buyers. Many are reluctant to forfeit the lending advantages and others don't have the option.

The New York City market directly impacts our local market. At the moment, the cards are stacked in our favor, but stay tuned...... Here's the latest on Manhattan real estate.....
Luxury apartments may become very affordable. .
August 2020 Home Sale Report
Quick recap: August sales (730) were up from July (688) in every town except Norwalk and Wilton. Median selling price as well as selling price per square foot were also up. Two mega-sales over $10 million in both Fairfield and Westport (see below) bumped up these numbers in both towns. Sales over $2.0 million accounted for about 13% of all transactions slightly up, and sales below $1.0 million accounted for about 56% which is below normal. Information extracted from the SMARTMLS.

Real estate is local and varies between each town, area and price point.
For more specific information on your town or neighborhood, contact me.

To view previous month statistics, click here.

We had two sales in August at $16,500,000! Details below.
Highest Sale #1 for August
1125 Pequot Ave., Fairifeld
Sale price: $16,500,000
Original asking price: $16,500.000
Days on the market: 429

Built in 2015 this waterfront estate sits on 3.44 acres with sweeping water views. The interior features over 11,000 square feet of living space, 17 rooms, 7 bedrooms, 8 full baths, 3 partial baths and 6 fireplaces. Listed and sold by William Raveis Real Estate.
Highest Sale #2 for August
112-116 Beachside Ave., Westport
Sale price: $16,500,000
Original asking price: $16,750,000
Days on the market: 432

This is a 3 lot waterfront estate consisting of 7.7 acres with unrivaled views of Long Island Sound. The Tudor mansion and carriage house built in 1911 features over 8,000 square feet of living space, 16 rooms, 7 bedrooms, 7 full baths, 3 partial baths and 5 fireplaces. Listed by Sotheby's and sold by Coldwell Banker.
Lowest Sale for August
10 Knapps Park Drive, Fairfield

Sale price: $220,000
Asking price: $229,000
Days on the market: 34

Built in 1942, this Colonial half duplex home sits on .11 acre of land and features 1100 square feet of living space, 6 rooms, 3 bedrooms, 1 full bath, and 1 partial bath.
Listed and sold by William Raveis Real Estate.
All styles, sizes and budgets. Fairfield County has something for everyone.

Elizabeth Tardif