DARIEN
Market Trends
February 2013
Darien, Connecticut is currently neither a Buyer or Seller’s market given that it has 6 months of inventory (based on absorption rates over the past 12 months). There has been a slight decrease over the past three months, but that is likely seasonal.
The amount of green areas on the chart above shows at a glance that we are trending towards a Seller’s Market. The Average Number of Homes Sold per Month for single family homes increased over the past three months, Months’ Supply on Market is decreasing as more homes sell, and both Average List Prices and Average Sales Prices are higher than a year ago. It would take 6 months to sell off all the inventory on the market compared to 12 months a year ago.
In retrospect, it still looks like the Darien market hit bottom a year ago in Q1 2012 and has been in recovery ever since.
The areas in green show 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. The only areas in orange are slight decreases and likely seasonal.
INVENTORY
SALES
Over the past three months, the lowest sale price was $395,000 and the highest sale price was $5 million. Ten homes over $2 million sold during that period.
HOTTEST HOMES
What homes are most in demand by buyers in Darien? The sweet spot in the market is for 4 bedroom homes with a list price of $1.6-1.7 million. They tend to be only market only 90 days and sell at 94% of list price.
If you are interested in buying or selling in Darien, Connecticut, please contact Gail Robinson, REALTOR, at 203-521-0768.
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