Fairfield, Bridgeport, and Black Rock CT Market Report on Two Family Homes - Jan through Aug 2011

By
Real Estate Agent with William Raveis Real Estate RES.0772823

TWO FAMILY - FAIRFIELD

 

Number

% Change

Average

% Change

Inventory

Currently on Market

15

 

$472,333

 

12 mos.

Sold Jan-Aug 2011

10

0%

$290,705

-9%

 

Sold Jan-Aug 2010

10

 

$320,505

 

 

 

TWO FAMILY - BRIDGEPORT

 

Number

% Change

Average

% Change

Inventory

Currently on Market

175

 

$154,240

 

12 mos.

Sold Jan-Aug 2011

115

-20%

$99,000

-10%

 

Sold Jan – Aug 2010

145

 

$109,880

 

 

 

TWO FAMILY – BLACK ROCK

 

Number

% Change

Average

% Change

Inventory

Currently on Market

9

 

$305,022

 

18 mos.

Sold Jan-Aug 2011

5

0%

$188,150

-22%

 

Sold Jan-Aug 2010

5

 

$241,000

 

 

 

It is still clearly a Buyer’s market in Fairfield, Bridgeport, and the Black Rock area of Bridgeport in 2011 so far with 12+ months of inventory (more than 6 months of inventory is considered a Buyer’s market). 

Fairfield is holding steady on the number of two family properties sold, but prices have declined by 9%.  Fewer two families are selling in Bridgeport, volume is down by 20%, and prices have declined by 10%.  Black Rock is holding steady in terms of number of two family properties sold, but prices are down 22. 

In all areas higher priced two family properties are staying on the market, while lower priced units are selling.  Most of the sales in Black Rock and Bridgeport are short sales or foreclosures.

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