Overview

Real Estate Market as of September 30, 2018

Westport Market

The Westport Real Estate market continues to show some strength at the lower price points. Although there appear to be a good number of buyers in the marketplace, homes at the higher price points continue to linger on the market. Some buyers report that they are waiting for the results of the elections. It is likely that rising interest rates might incentivize some buyers to buy sooner rather than later.

So far, this year closed sales of 333 are running just 1.2% behind last year's sales of 337. The average sales price for the first three quarters, however, was down 6.7% from $1,574,478 in September of 2017 to an average of $1,469,600 this year.  For sold properties, the average time on the market was 91 days, down from 122 last year. Please see market activity reports for more information.

We at KMS Partners remain optimistic in our outlook. The fabulous lifestyle and award-winning schools that Westport has to offer, in conjunction with lower property taxes, continue to be very attractive!

Weston Market

The market in Weston has been declining modestly over the past few years. So far, this year prices are down over 5%. However, weakness on the higher-end properties can account for some of this average price decline. The last quarter of 2017 was strong and with the possibility of increasing interest rates in the future, there may be a spike in sales before the end of 2018 as well. Weston's natural beauty, its award-winning school system and two-acre zoning are still attracting buyers — especially for the lower and mid-range homes.

So far, this year Weston has closed 129 sales as compared to 126 sales for the first three quarters of 2017. Average days on market are 96, down from 137 days in 2017. And as indicated above, prices are also down, with the average sale price dropping from $855,343 last year to $813,282 this year. Please see market activity reports for more information.

 Fairfield Market

We see the market strengthening in Fairfield particularly near the beach and near town. Fairfield is definitely on many buyers’ radar due to its strong schools, beaches, vibrant town and university vibe. Fairfield appeals to buyers across the board from first time buyers to downsizing empty nesters. There is something for everyone.

So far this year, 589 homes have closed in Fairfield compared to 780 for the entire year of 2017. The average days on market is down to 73 days compared to 97 days last year, while prices have risen. The average sales price this year is $790,459 compared to $743,596 last year. Please see market activity reports for more information.

Norwalk Market

Norwalk has had a steady, busy year thus far.  It is proving to be a great Connecticut “first stop” for home buyers and renters coming from more urban areas like New York.  There seems to renewed interest in the laid back, artsy quality of Silvermine and what it offers; Marvin Beach and other opportunities to own on the coastline remain extremely popular as well.

 From September 1, 2017 to September 30, 2018, 514 homes were sold resulting in a 0.8% increase over the same period last year (510).  The average sales price has climbed from $617,449 to $623,268.  Sales volume has increased, and home values have gone up by 0.9%.

More recently, just for the past month of September (54 home sales) the average sales price of $684,604 was at its highest level compared to 2016 and 2017.  For the same period, the average number of days on market has dropped to 62 from 102 a year ago.  That is also the lowest level since both 2016 and 2017.  Please see market activity reports for more information. 

Wilton Market

We are seeing well-prepared and well-priced homes selling in Wilton. It's all about value. The Wilton lifestyle with a vibrant downtown, close proximity to commuter routes and award-winning schools will continue to bring buyers into the market. The possibility of increased rates may bring a spike in sales for the last quarter.

Wilton has seen 165 sales so far in 2018, compared to 181 sold homes for the same period last year; a decrease in closed transactions of nearly 9%. The average days on market was 94 compared to last year's total of 143 days on market. The average sale price was up to $893,864 compared to 2017 average prices of $848,853 an increase of over 5%. A few high-end sales, including one for $8,000,000, accounts for most of the increase in average price. Please see market activity reports for more information.

Highest and Lowest Sales for the First Three-Quarters of 2018

9 Owenoke Park, Westport

9 Owenoke Park, Westport

Westport

Highest: 9 Owenoke Park, $6,217,983

Lowest: 20 Oakview Circle, $278,000

Total sales: 333

 


38 Weston Road, Weston

38 Weston Road, Weston

Weston

Highest: 38 Weston Road, $2,550,000

Lowest: 32 Old Georgetown Road, $205,000

Total sales: 129

 


828 Sasco Hill Road, Fairfield

828 Sasco Hill Road, Fairfield

Fairfield

Highest: 828 Sasco Hill Road, $5,400,000

Lowest: 305 Old Stratfield Road, $118,000

Total sales: 589

 


Lot 2 Adirondack Trail, Easton

Lot 2 Adirondack Trail, Easton

Easton

Highest: Lot 2 Adirondack Trail, $1,180,000

Lowest:  11 Adams Road, $177,911

Total sales: 102


0 Tavern Island, Norwalk

0 Tavern Island, Norwalk

Norwalk

Highest: 0 Tavern Island,  $7,850,000

Lowest:  37.5 Osborne Ave, $185,000

Total sales: 515

 


144 Huckleberry Hill, Wilton

144 Huckleberry Hill, Wilton

Wilton

Highest:  144 Huckleberry Hill, $8,000,000

Lowest:  78 Portland Ave, $315,000

Total sales: 165

 


Highest and Lowest Sales for the First Half of 2018

73 Old Hill Road, Westport

73 Old Hill Road, Westport

Westport

Highest: 73 Old Hill, $6,000,000

Lowest: 35 Bridge Street, Unit #1  $254,330

Total sales: 214

 


10 Hemlock Ridge, Weston

10 Hemlock Ridge, Weston

Weston

Highest: 10 Hemlock Ridge, $1,775,000

Lowest: 32 Old Georgetown Road, $205,000

Total sales: 66

 


945 Sasco Hill Road, Fairfield

945 Sasco Hill Road, Fairfield

Fairfield

Highest: 945 Sasco Hill Road, $4,650,000

Lowest: 64 Raymonds Drive #64,  $150,000

Total sales: 411

 


Lot 2 Adirondack Trail, Easton

Lot 2 Adirondack Trail, Easton

Easton

Highest: Lot 2 Adirondack Trail, $1,180,000

Lowest:  85 Norton Road, $269,000

Total sales: 69


0 Tavern Island, Norwalk

0 Tavern Island, Norwalk

Norwalk

Highest: 0 Tavern Island,  $7,850,000

Lowest:  135 Flax Hill Road #16,  $76,000

Total sales: 468

 


144 Huckleberry Hill, Wilton

144 Huckleberry Hill, Wilton

Wilton

Highest:  144 Huckleberry Hill, $8,000,000

Lowest:  102 Wilton Crest #102, $152,000

Total sales: 107

 


Real Estate Market for the first half of 2018

WESTPORT

  • 214 homes were sold in Westport during the first half of 2018. This is down 5.7% compared to the 228 sales in the first half of 2017.

  • Inventory remains slightly lower than last year with 409 homes on the market vs. 459 at the end of June 2017.

  • The average sales price is down -12.8% from $1,469,046 in June of 2017 to $$1,280,446 in June of 2018.

A closer look at the numbers tells the story.

Price Range               YTD Sales                 Current Inventory

Under $1 M                 78 sales (36.4%)       6.7 months

$1M - $1.5M                 64 sales (29.9%)      6.2 months 

$1.5M-$2M                   32 sales (15.0%)       12.7 months

$2M - $2.8M                25 sales (11.7%)        16.1 months

$2.8M-$4M                  10 sales (4.6%)        21.6 months

Above $4 M                 5 sales (2.3%)           32 months

The good news is that we have a robust market below the $1.5 million mark. Good homes in this price range are moving quickly and we continue to have first-time home buyers moving to town. Our luxury market is less active. However, the well-priced luxury homes are also moving, more quickly than in the past. One of the most encouraging statistics is that the number of “days on market” is at its lowest level in the past 3 years at 73 days.

We remain optimistic in our outlook. Who wouldn’t want to live in Westport? We are seeing many NY buyers, both city and Westchester, who are fed up with high property taxes and moving north. We welcome them with open arms!

WESTON

The first half of the year has resulted in 67 closed transactions for the Weston real estate market. 44 of the transactions (two-thirds of all the sales) sold under $800,000, with nearly half of all the closed homes selling for less than $600,000.  The most active price range was between $500,000 and $600,000 with 16 reported closings. Ten homes sold between $809,000 and $983,000. The remaining 13 sales in Weston were over $1,000,000 with the highest priced sale being $1,775,000 on Hemlock Ridge.

By comparison, there were 84 Weston sales in the first half of 2017, so we see a decline of about 20%. The bottom line cannot be ignored: we have comparatively fewer sales so far this year than in 2017 and nothing has sold over $1,800,000 yet. However, there is some room for optimism with 43 houses under agreement or contract, including one waterfront home on Crystal Lake listed for over $2,500,000 that is under contract.

There are currently 165 homes for sale in Weston. This number represents a full year’s worth of inventory. The last quarter of 2017 was surprisingly active with 47 closed transactions in Weston. Hopefully, we will see a repeat of that level of activity in the last half of 2018 as buyers see the value in the Weston market and the Weston lifestyle.

FAIRFIELD

  • 107 homes sold in Fairfield during the month of June. This is down 16.4% compared to the 128 sales in June of 2017. However, June YTD sales of 358 are running only 8.0% behind last year’s YTD sales of 389. 

  • The Total Inventory of Properties available for sale as of June was 542, up 6.5% from 509 last month and down -12.9% from 622 in June of last year. June 2018 Inventory was at the lowest level compared to June of 2017 and 2016.

  • The Average Sales Price in June was $799,848, up 8.2% from $739,229 in June of 2017 and up 12.0% from $713,870 last month. June 2018 ASP was at highest level compared to June of 2017 and 2016.

A closer look at the numbers tells the story.

Price Range               YTD Sales                  Current Inventory

Under $500K             124 sales (34%)          3.9 months

$501K - $749K           107 sales (30%)          4.7 months

$750K –$999K           56 sales (16%)            6.2 months

$1,000K – $1,499K    46 sales (13%)            9.6 months

$1,500 - $1,999K        10 sales (3%)              18.4 months

$2,000K+                   15 sales (4%)              24 months     

A healthy market is noted as having about 6 months of inventory – less becomes a seller’s market and more becomes a buyer’s market. The under $1M market is considered a seller’s market and the over $1M is considered a buyer’s market.  Fairfield still continues to see the majority of its sales coming under $1M.

Neighborhood sales were as follows…. Beach 14%, Center/Sasco/Southport/Sturges 15%, University 20%, Greenfield Hill 13%, Brooklawn/Stratfield 18% with the remaining sales scattered across various other neighborhoods.

NORWALK

  • 307 homes sold in Norwalk in the 6 months ending June 2018. This is down 5% compared to the 323 homes sold during the same time frame of 2017.

  • Inventory remains higher (+8.5%) than last month with 498 homes on the market vs. 459 at the end of May 2018. However, June 2018 inventory was at the lowest levels compared to June 2017 (down 18.6%) & June 2016 (down 31.2%).

  • The average sales price is down slightly, 0.9% to $603,040 in June of 2018 from $608,804 in June 2017.

A closer look at the numbers tells the story.

Price Range               YTD Sales                  Current Inventory

Under $500K             157 sales (49.7%)       2 months

$500K-$749K             109 sales (34.5%)       4.3 months

$750K-$999K             27 sales (8.5%)           7.7 months

$1,000K-$1,499K       11 sales (3.5 %)           11.1 months

$1.5M-$1,999K           6 sales (1.9%)             16.5 months

Above $2,000K          6 sales (1.9%)             16.8 months

There appears to be a healthy and motivated buyer pool for Norwalk, especially under the median price point of $460K, which is evident by multiple bids on homes in this price range.  We are also seeing demand from couples downsizing as they’re looking for smaller, more manageable homes from the surrounding towns. With supply at lower levels in 2018 vs 2017, prices have remained relatively stable at the lower price points.  The higher end of the Norwalk market (above $750K or 15% of total 2018 sales) requires a much longer time to sell, at least 7 months ($750K-$999K) and up to 16 months on average for the Norwalk luxury market. 

WILTON

The first half of the year has resulted in 108 closed transactions for Wilton. The lowest price sale was $152,000 and the highest was $8,000,000. The latter was a bank owned property that consisted of a 1920’s Tudor style home on more than 152 acres. June year-to-date sales are running -14.3% behind last year’s same period of time. The median price sale in Wilton in June was $710,000 down 2.1% from $725,000 in June of 2017. The average price in June was $775,000 up 7.3% from 2017.

There are currently 235 homes on the market. This represents the lowest level of active listings for the past two years compared to June of ’16 and’17. The highest priced home on the market is priced at $7,500,000. It is located on slightly under 5 acres. There are 48 homes with accepted offers. The highest priced home under contract had an asking price of $1,279,000.

Prices continue to be soft and that is the case in all of the surrounding towns as well. Homes continue to sell if they are perceived as having great value. There are many first-time buyers coming in to Wilton. They are drawn by the schools and the vibrant town center. Wilton is a great town!

 

It's All About the Music

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Home buyers come to Fairfield County for many reasons: The beaches. The schools. The lifestyle.

At KMS Partners, we answer all your questions about your new hometown. And we do it with a fantastic soundtrack in the background.

Music fills the air here. And there’s no better time to enjoy it than summer. Outdoors with a picnic or indoors at a cool venue, the music scene here is hot!

KMS is particularly proud to sponsor the Weston Historical Society’s Music at the Barn Outdoor Concert Series. Mark your calendars for PJ Pacifico (July 22) and the Stone Band (August 26), both at 5:30 p.m. Bring a lawn chair, blanket and food, for great entertainment. Then come back on September 15 for “Westonstock,” a day-long music festival with games, crafts and food trucks too. Come early to any show, and check out the great “Life in the Sixties” exhibit. For more information, click here: http://www.westonhistoricalsociety.org/music-at-the-barn-2018/

Neighboring Westport offers 55 nights of free entertainment at the Levitt Pavilion. Rock, country, jazz, big band, Motown -- whatever your taste, you’ll find it at this beautiful amphitheater on the banks of the Saugatuck River. There’s one fundraiser each year: On August 25, it’s Melissa Etheridge. For a calendar and more info, click here: http://www.levittpavilion.com/

On Labor Day weekend, the Levitt hosts Blues, Views & BBQ. Some of the best blues musicians in the world entertain -- and the barbecue can’t be beat. Bounce houses and other family-friendly attractions fill the nearby Westport Library parking lot. Click here for details: https://www.eventbrite.com/e/blues-views-bbq-festival-tickets-45933935638

There’s lots more live music in Westport too, at events like the Downtown Arts Festival (July 14-15), Farmers’ Market (Imperial Avenue parking lot, every Thursday 10 a.m. to 2 p.m.), Tuesdays at the Train (July 17, August 7, 5:30 p.m. Luciano Park) and Slice of Saugatuck (September, date TBD).

Neighboring Fairfield has its own rockin’ scene too. There’s always something going on at FTC, a downtown venue that attracts top-name bands and musicians. The programming is diverse, and there are plenty of nearby restaurants for pre- and post-concert meals. For more information, click here: https://fairfieldtheatre.org.

Around the corner, there’s a full (and free) summer music schedule at Fairfield’s Sherman Green Gazebo. It’s a scene straight out of Norman Rockwell, but the musical genres span the globe. Click here for the full schedule: http://www.fairfieldct.org/summerconcerts

Back in Weston, Lachat Farmers Market (last Friday of each month) features music along with fresh fruits, vegetables and anything else that grows. Here’s the website: http://www.lachattownfarm.org/farmers-market.php

Further north, both Danbury (http://citycenterdanbury.com/events/category/concerts-on-the-green/) and Ridgefield (https://chirpct.org/) have free summer concert series. The Ridgefield Playhouse books concerts by entertainers like Little Feat, Ronnie Milsap and Don McLean (https://ridgefieldplayhouse.org/live-events-2/).

There’s much more, of course. Just put your top down, drive around and listen for the sounds. Wherever you are, there’s music in the air.

(To learn more about the local entertainment scene all year long, contact KMS Partners: info@kmspartners.com)

Highest and lowest sales — First quarter of 2018

Westport:
Highest: 3 Charmers Landing, $5,362,500
Lowest : 20 Oakview circle, $278,000
Total sales: 84

Weston:
Highest: 67 Good Hill Road, $1,400,000
Lowest: 32 Old Georgetown Road, $205,000
Total sales: 22

Fairfield:
Highest: 945 Sasco Hill Road, $4,650,000
Lowest: 25 Beacon View Drive, $175,000
Total sales: 127

Wilton:
Highest: 21 School Road, $2,850,000
Lowest: 199 Deer Ron Road, $368,000
Total sales: 34

Easton: 
Highest: 15 Abbey Road, $1,000,000
Lowest: 20 Meadow Ridge Drive, $300,000
Total sales: 22

Norwalk: 
Highest: 34 Nearwater Road, $2,800,000
Lowest: 1 Tilton Drive, $222,500
Total sales: 104

2017 Sale Summaries

Westport:Westport posted strong sales numbers in 2017. With a total of 464 sales transactions, as compared with 370 in 2016. Westport continues to be a strong player in the Fairfield County real estate market. The average sales price increased slightly from $1,527,565 in 2016 to $1,532,778 in 2017, while the median sales price rose from $1.282,000 to $1,315,000 year over year. These statistics are evidence that our market is showing some strength. The lower end of the market continued to thrive with 177 transactions below $1M (37%), 197 transactions between $1M-$2M (42%), 63 sales between $2M-$3M (13%) and only 27 sales above $3M (5.8%). Inventory levels are at their lowest in recent history with only 252 active listings as of 1/9/18.

Westport does have its fair share of concerns, including economic woes and uncertainty at the state level, and the impact from the recent tax code changes. We, at KMS Partners, continue to be optimistic about our Westport market and to keep well informed so we can give the highest level of service to our clients. We would welcome the opportunity to sit down and give you a price opinion of the value of your home. We hope 2018 is a healthy and prosperous year for all!

Weston: The good news for Weston is that real estate sales in 2017 finished with a total 174 transactions. That number was slightly higher than the 166 sales of 2016 in Weston. However the average sale price dropped from $904,129 in 2016 to $857,640 in 2017. The Median numbers were changed slightly from $795,000 in 2016 to $789,500 in 2017. The bottom line is that prices softened slightly in 2017 especially on the high end. Most of the towns near Weston show the same trend with more homes sold but at lower prices.

Weston is one of Connecticut's safest towns and it has a lot to offer residents who want a lifestyle that offers a quiet atmosphere, strong family values with a sense of community, open space and especially our award winning school system.

Fairfield: Fairfield had a strong 2017. It is the only town among those that we cover that was up in transactions and average sale price with a fairly significant percentage. There were 780 single family homes sold in 2017 vs. 724 in 2016. That is a 7% increase. The average sale price went from $705,408 to $744,118 for a 5% increase. The strongest sales continue to be in the Beach/Center/Sasco/Southport market area with 27% of the sales, University had 20%, Brooklawn/Fairfield Woods/Stratfield with 18% and Greenfield Hill/Sturges made up 15% of the sales, the remaining 20% were in the Lake Hills/Rock Ridge/Tunxis Hill market areas.

Overall, this was a very good year for Fairfield which is not a surprise, as the town has so much to offer with it’s bustling downtown area, 2 train stations, 5 beaches, several marinas, excellent town facilities, a public golf course and an amazing choice of restaurants and shopping.

Norwalk: Norwalk is the only local town that has “bucked” the current trends in our immediate market area. The number of single family homes sold in FY 2017 declined by 5.6% to 659 homes vs. FY 2016 from 697 homes. However, another reverse in the local trend is that both the average and median sales prices have risen at FY 2017 vs. FY 2016. The average sale price rose 4.9% to $618K in FY 2017 up from $590K in 2016. The average median sale price was also higher in 2017 vs. 2016, up 8% to $475K from $440K.

Total inventory of single family homes available for sale at 12/31/17 was at the lowest level compared to both FYE Dec ’16 and ’15. We’re seeing this as a trend in all the local towns. The number of listings on the market at FYE Dec 2017 was down 31.8% to 208 vs. 305 homes at FYE Dec 2016.

There appears to be a healthy and motivated buyer pool for Norwalk, especially under the median price point of $460K, which is evident by multiple bids on homes in this price range. We are also seeing demand from couples downsizing as they’re looking for smaller, more manageable homes from the surrounding towns. With supply at significantly lower levels, prices have appreciated as supply has not kept up with demand in FY 2017.

Wilton: 2017 was another interesting year in Wilton. There were more home sales in ’17 than in ’16 but prices were lower. 229 homes sold in 2017 versus 223 in 2016. The average sale this past year was $825,000 versus $987,894 the year before. One needs, however to remember that that average price in 2016 was skewed by the sale on Millstone for $5,900,000. It is interesting and important to note that all of our neighboring towns are reporting the same trend: more units sold, but for less money than the previous year. The only town that bucked that trend was Norwalk where they sold fewer units but for a higher average price than the year before.

We are being told by Industry experts that Millenials will make up 40% of our buyers for this new year. Millenials are between 19 and 36 years of age. Wilton will be a strong attraction to the older millennials due to the strong school system and great sense of community. Most first time buyers that we are seeing are preapproved to spend roughly what was Wilton’s average priced sale in 2017.

One of the strengths of the Wilton housing market is its diversity. From rentals at Avalon to multi acred estates there is something for everyone. People can downsize in Wilton and stay in town. Not all towns offer that benefit.

Wilton is a great town to call home. It will continue to thrive in good times and in not so good times.

Highest and lowest sales — First three quarters of 2017

Westport:Highest: 279 North Avenue, $7,000,000 Lowest : 35 Bridge Street, #113 $215,564 Total sales: 366

Weston: Highest: 64 Old Redding road, $2,450,000 Lowest: 429 Newtown Turnpike, $65,000 Total sales: 126

Fairfield: Highest: 457 Harbor Road, $5,837,500 Lowest: 109 Katona Drive #26, $96,500 Total sales: 727

Wilton: Highest: 137 Olmstead Road, $2,850,000 Lowest: 84 Wilton Crest: $130,000 Total sales: 202

Easton: Highest: 130 Old Stonewall, $1,335,000 Lowest: 11 Knapp Street, $275,000 Total sales: 52

Norwalk: Highest: 14 Point Road, $5,490,000 Lowest: 32 Pine Street #6B, $6000 Total sales: 485

Highest and lowest sales — First half of 2017

Westport:Highest: 75 Beachside Avenue, $6,575,000 Lowest : 35 Bridge Street, #308 $226,581 Total sales: 224

Weston: Highest: 118 Good Hill Road, $2,012,000 Lowest: 429 Newtown Turnpike, $65,000 Total sales: 81

Fairfield: Highest: 457 Harbor Road, $5,837,500 Lowest: 109 Katona Drive #26, $96,500 Total sales: 426

Wilton: Highest: 137 Olmstead Road, $2,850,000 Lowest: 84 Wilton Crest: $130,000 Total sales: 123

Easton: Highest: 130 Old Stonewall, $1,335,000 Lowest: 11 Knapp Street, $275,000 Total sales: 52

Norwalk: Highest: 14 Point Road, $5,490,000 Lowest: 32 Pine Street #6B, $6000 Total sales: 485

Stat Summaries — First quarter 2017

Westport Every year, buyers, sellers and Realtors eagerly anticipate the results of the Q1 real estate statistics for the various Fairfield County towns. Those stats indicate how well the “Spring Market” is performing and are indicative of how the next quarter, or even the year, MAY play out. Comparable analysis to establish value is now used from the current year as opposed to the typically slower season of the previous year. Historically, the “Spring Market” begins in late January/early February, however the past several years have proven a different spring market season, where sales are more wide spread throughout the year.

How is Westport doing in 2017? In summary, March YTD sales of 67 are running 8.1% ahead of last year's year-to-date sales of 62. March property sales were 26, up 44.4% from 18 in March of 2016 and 52.9% higher than the 17 sales last month. March 2017 sales were at a mid level compared to March of 2016 and 2015.

Average sale price: $1,590,118 (-3%)

Median sale Price: $1,600,000 (+16%)

These stats are on point to what we expected as we approached 2017…more sale transactions with flat or steady sale prices.

Let’s take a look at inventory. In all price points, Westport continues to trend to a “Buyer’s Market”. Supply of homes on the market far exceeds demand for those homes.

As of March 31, 2017…the following number of months of inventory are available to buyers of the following price ranges, in addition to a breakdown of sales in recent months.

$1,000,000-$1,500,000 - 13 months of inventory with 40 active listings; 91 sold in past 12 months, 25 sold in past 6 months and 9 sold in past 3 months $1,500,000-$2,000,000 - 8 months of inventory with 57 active listings; 75 sold in past 12 months, 35 sold in past 6 months and 21 sold in past 3 months $2,000,000-$2,500,000 - 21 months of inventory with 42 active listings; 32 sold in past 12 months, 14 sold in past 6 months and 6 sold in past 3 months $2,500,000-$3,000,000 - 19 months of inventory with 32 active listings; 24 sold in past 12 months, 8 sold in past 6 months and 5 sold in past 3 months $3,000,000-$4,000,000 - 29 months of inventory with 39 active listings; 14 sold in past 12 months, 5 sold in past 6 months and 4 sold in past 3 months $4,000,000+ - 54 months of inventory with 27 active listings; 9 sold in past 12 months and 3 sold in past 6 months

What is not reflected in these stats is the number of homes with accepted offers and fully executed contracts waiting to close. As a sneak peek to the Q2 stats, many homes in the luxury market will post to Sold. This indicates market confidence and will reflect in the stats moving forward. We often find when the luxury market is robust, other price range sales follow suit.

Market segments that continue to show strength are new construction homes, beach related homes and homes in the price range perceived as “starter homes”, “empty-nester homes” and “move-in ready homes”.

Weston Weston saw 26 closed sales in the first quarter of 2017. Last year the first quarter had 23 sales so we've had a modest increase in closings. At this moment we are encouraged to find 26 Weston homes that have accepted offers and 23 pending sales so we are optimistic that momentum is building for strong activity in the 2nd quarter. It is also encouraging to see that 20 of the closed sales or accepted offers are over $1,000,000 so the market does show some signs of getting stronger although the high end is still weak with only one house over $2,000,000 being reported with an accepted offer. Weston currently has 140 homes on the market, nearly a year's worth of statistical inventory. The average sales price is $754,000 with a median price of $627,500.

Today's Weston market continues to be a buyer's market and the buyers are more discriminating than ever. Homes that are updated, in prime locations with nice yards go quickly while other houses languish on the market often for over a year. It is more important than ever to correctly prepare homes for showing and to list them at today's market price. In many cases we are recommending pre-market inspections from a licensed inspector to look for unknown issues that could stop a transaction and a staging consultation.

Weston schools with its rural character and two acre zoning continues to bring buyers into Weston. The Town is close to transportation highways and trains and remains a great value for families. Weston was just reported to be one of the safest towns in the United States.

Fairfield March YTD sales of 121 are running 0.8% ahead of last year's year-to-date sales of 120. Which is what we would call flat. The average sale price is up 4% at $789,747. The Beach area came in at 16% of the sales, Center/Sasco/Southport/Sturges area 16%, University 18%, Greenfield Hill 16%, Brooklawn/Stratfield 14% and the remainder scattered across the various other neighborhoods.

82% of the sales were under $1M, 9% between $1-1.5M, 6% between $1.5-2M and 3% over $2M. Of the 4 listings that sold over $2M, 2 were on Fairfield Beach Road and 2 on Harbor Road in Southport – all on the water. The highest sale was $5,837,500 on Harbor Road. We are seeing a slight uptick in activity in the luxury market which is always good news for the rest of the market because it tends to follow.

For some time now, we have consistently seen the majority of the sales in Fairfield concentrated in and around downtown – 32% if you include the Beach/Center/Sturges/Southport/Sturges. All of these are either walking distance to town and train or just minutes away. The majority of these buyers want easy access to amenities and less house/acreage to take care of. It’s become the lifestyle of choice.

March Property sales were 46, down -14.8% from 54 in March of 2016 and 31.4% higher than the 35 sales last month. March 2017 sales were at a mid level compared to March of 2016 and 2015.

Average sale price: $789,747 (+4%)

Median sale price: $615,000 (-1%)

Wilton The Wilton market is stronger so far this year than it was last year in terms of the number of closed sales. Do remember that sales in the first quarter, particularly through February are reflective of deals made in November and December. Through February 26 homes had closed which is compared against 10 sales for the same period last year. February sales were at a mid level when compared to the same period in 2015 and 2016. The current average sales price was $1,085,971 and the median sales price was $804,500.

There were 14 sales over $1,000,000 and three over $2,000,000. The highest priced sale was 137 Olmstead Hill which closed at $2,850,000.

Currently (as of mid April) there are 217 properties on the market for sale. Additionally, 30 have accepted offers (“CTS”) and 23 are under contract (“Pending”). Spring has sprung and buyers are out there looking. It is a great time to get your home on the market.

We continue to be high on Wilton. The new school superintendent is very welcoming to Realtors and their clients. We have been given the opportunity to tour the schools ourselves and are encouraged to come back with our clients. That is very important since the schools are so often what draw buyers to town.

The vibrant Wilton Center area is another big attraction from the Village Market to Joy Rides Cycling. It is all good!

Last, but certainly not least is the consistent friendly atmosphere that one encounters at every turn. Wilton is a great town and more and more people are seeing that and wanting to be part of it!