Darien, Connecticut is currently a strong Buyer's market with 12-13 months of inventory (based on absorption rates over the past 12 months). Prices have continued to decline over the past 12 months and fewer homes sold.
The amount of orange areas on the chart above shows at a glance that we are still clearly in a Buyer’s Market. The Average Number of Homes Sold per Month for single family homes has slowed, Months’ Supply on Market is rising as fewer homes sell, and both Average List Prices and Average Sales Prices have declined over the past year. It would take 12.5 months to sell off all the inventory on the market. While this figure is high, it is in line with a number of other towns in Fairfield County.
The areas in green show two positive indicators in favor of a shift towards a Seller’s Market. Look at the Average Days on Market in the chart above - homes are spending less time on the market before selling. In addition, the ratio of Average List to Sales Price has improved in the past three months compared to six months or a year ago.
If you are interested in buying or selling in Darien, Connecticut, please contact Gail Robinson, REALTOR, at 203-521-0768.