Halstead: Real estate market news positive
Published 10:30 am, Sunday, August 3, 2014
The Halstead Property second quarter market report shows overall gains in prices and shorter time on the market in Fairfield County despite lower numbers of sales in most towns.
Two towns showed significant gains, as Greenwich's average price increased 65 percent due to a record-setting $120 million sale and New Canaan saw a sharp rise in both average and median prices to $2,119,085 and $1,725,000, respectively, according to a news release from Halstead.
"As you can see in the report, sellers are listening to the valuable advice of their Realtors and pricing their homes correctly," Diane M. Ramirez, CEO of Halstead Property, said, "resulting in shorter time on the market. In addition, most towns posted an increase in sales price, which is encouraging news after a tough winter season,"
The report also noted:
Darien had fewer sales, but the homes sold 11 percent faster, showing a steady demand amid tight inventory.
Wilton had an 8 percent rise in both the average and median prices, up to $957,554 and $855,000, respectively.
Fairfield was the only town to see more transactions when compared with the same period last year, up to 215 from 204; the average price fell 1 percent, while the median was up 10 percent to $585,000.
Norwalk was mixed, with a 5 percent increase in the average sales price to $593,987 and a 5 percent decline in the median sales price to $423,250.
Stamford's average sales price rose 7 percent to $687,018, and the median rose 11 percent to $620,000, with 18 percent fewer closings.
Westport had a decline in high-end activity, which brought the average price 13 percent lower to $1,515,713, while the median rose 10 percent to $1,400,000, despite a 20 percent decline in sales.