Fairfield Condo Update
March 31, 2008
The Condominium market is not faring any better than Single Family homes. Unit sales are off 39% from last year. This is a big decline over the first three months of the year. Prices are down too. This is showing that the trend to build Luxury Duplexes may be over - at least as far as consumers are concerned. The Median Price is down 19% from 2007. This would seem to be telling us that the slow down in the market is impacting all price ranges from Single Family Homes to lower priced Condos.
Fairfield Update | |||||
Year to Date Sales of CONDOS | |||||
As of March 31 | |||||
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| 2008 | 2007 | 08 vs 07 | 2006 | 08 vs 06 |
Closes | 17 | 28 | -39% | 20 | -15% |
Median Price | $360,000 | $447,000 | -19% | $365,000 | -1% |
Avg Selling Price | $433,912 | $471,196 | -8% | $452,140 | -4% |
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Prepared by the TETREAU Real Estate Group from W. Raveis Real Estate | |||||
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