Local Real Estate Market Information©
(Through January, 2010 as of February 12, 2010)
TRENDS OF UNITS SOLD, MEDIAN SELLING PRICE AND AVERAGE DAYS ON MARKET
For, Fairfield County,
Properties sold - The trend has been down but that is starting to change. There was an increase in December, 2009 and again in January, 2010. For Westport, the same was true.
Median selling price - The trend has been down but that is starting to change. There was an increase in December, 2009 and again in January, 2010. For Westport, there was a big increase in January, 2010.
Average days on Market - The trend for last few months has been flat and there was no increase in January, 2010. For Westport, Days on market continued to increase in January, 2010.
Trends for all Fairfield County, Westport and Fairfield.
Westport Sales Trends through January 2010.
Units sold and Median price increase by town from 1999 through January, 2010 (as of February 12, 2010) are at the following link.
MONTHS OF INVENTORY FOR SALE BY TOWN IN FAIRFIELD COUNTY
Inventory is still high but the trend is to have less propertis for sale but there was an increase in January, 2010 reversing the recent trend. See in the following charts.
Trend of Properties for sale in Fairfield County.
The chart at the following link shows inventory by town and by month back to 2005.
Months of Inventory available for sale by town
Disclaimer: This information should be accurate but is not guaranteed since it relies on the source.
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Sales of single family homes in Fairfield County towns the following link.
http://higginsgroup.com/stats.asp
Scroll down if you don't see the reports after selecting the town,
Repossession Activity by Town
Repossession activity is driving down the price of houses. After a home has been repossessed the owner and the bank have taken large losses on the property and when it comes back on the market the price is typically way under market.
The following chart shows repossession acitivty by town as of Jan 31, 2010.
The Wall Street Journal Reported on Monday 10/12/09 that "Foreclosures Grow in Housing Market Top Tiers". In most towns this was true in Fairfield County.
Repossession by town chart shows that most towns in upper Fairfield County had an increase in the number of repossessions.
Trends for Condos in Norwalk, Wilton, Westport, Weston and Fairfield
Units Sold, Median Selling Price and Average days on market at this link
Unit sales continues to down although at a slower rate of chage, median selling price has been flat since 2004, avergae days on market continues to increase but at a slower rate of change.