Fairfield County Update
February 2008
Most of my blogs have been updates on individual towns. I thought it might be interesting to see how the entire of County of Fairfield is performing so far this year. I took a look at overall sales results through the end of February. This covers all towns but has only partial data for Greenwich, Darien and New Canaan due to overlapping MLS's.
Unit Sales are off 30% from last year. Well, that pretty much means there is no place to hide. The year is starting off slow and significantly slower than last year. Worse, it is slower than 2006 - and that was the worst year in over a decade!
Median price is down from last year and two years ago. The good news is Average Sale Prices are flat to down....not the greatest news but for this year we will take any silver linings we can get. We have sold 33 homes over $2 Million so far in all of Fairfield County - this is compared to 45 Sales in this price segment for the same time period last year.
The top three sales listed are 173 Ferris Hill in New Canaan at $6.1 Million, 44 Shorehaven in Westport at $6.235 Million and 94 Pear Tree Point in Darien for $6.750 Million.
Things had better start picking up soon......
Fairfield COUNTY Update | |||||
Year to Date Sales of Single Family Homes | |||||
As of Feb 29 | |||||
|
|
|
|
|
|
|
|
|
|
|
|
| 2008 | 2007 | 08 vs 07 | 2006 | 08 vs 06 |
Closes | 594 | 841 | -29% | 779 | -24% |
Median Price | $501,000 | $535,000 | -6% | $550,000 | -9% |
Avg Selling Price | $764,814 | $750,842 | 2% | $764,780 | 0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prepared by the TETREAU Real Estate Group from W. Raveis Real Estate | |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comments(0)