Fairfield County Real Estate Market Update

Fairfield County Real Estate Market Update

There was a positive increase in market activity in the first month of this year. I am pleased to report the January 2010 sales numbers for Fairfield County which reveal increases in both units and in the median sales price vs. January 2009. This is a continued indication of stabilization of the Single Family home market in Fairfield County.

There are currently 6497 active single family homes on the Greater Fairfield county Consolidated Multiple Listing System. In January of 2010 we had 436 closed sales which represented a unit sales increase of 35% vs. January, 2009. The median selling price in January, 2010 for single family homes on the Consolidated Multiple Listing System was $388,950, which is an over-all increase of 16% vs. January 2009.

Although single family home sales among the upper price tier continue to lag, we did see some very positive sales numbers in January 2010 as compared to January, 2009. There were 16 closed sales in January 2010 over $2MM vs. 5 closed sales over $2MM in January, 2009. There were 8 sales over $3MM in January 2010 and only 1 sale over $3MM in January, 2009.

There are 909 single family homes with fully executed contracts waiting to close. The median list price of those homes is $359,900. There are 516 properties with accepted offers. The median list price of those with accepted offers is $399,000. These are important numbers, which I report each month, because they help us to project the trend in the current sales price during the upcoming months. In this case it looks as though the median sales price is stabilizing and will be either flat or slightly higher during the first few months of 2010 vs. the median sales price during 2009.

I encourage our readers to contact me for the market statistics specific to their town and neighborhood as they may vary greatly from town to town and even neighborhood to neighborhood. If our readers wish to receive market statistics monthly via email they can email me at Cheryl@CSDGroup.com.