Halstead Property has released market report
Updated 1:21 pm, Thursday, August 11, 2011
Halstead Property has released its Connecticut Second Quarter 2011 Market Report for single family home sales. Compiled with data pulled from MLS records, the Report shows that sales have increased in many Fairfield County towns over the same time last year, showing a renewed confidence among buyers.
"The market in Connecticut is starting to gain momentum, as evidenced in our quarterly market report. Spring is traditionally one of our busiest markets of the year but we had an incredibly harsh winter that delayed or prolonged sales and putting properties on the market. That said, during this quarter, we started to see a renewed confidence among buyers and the continuing trend that we are seeing is that move-in ready homes are moving quickly when priced effectively," explained Diane M. Ramirez, President of Halstead Property.
The Halstead Property Second Quarter Market Report also noted the following town-by-town trends:
Both sales and prices were higher in New Canaan over the past year. There were 74 closings during the second quarter, a 28 percent improvement from 2010's second quarter. The average price rose 11 percent to $1,909,664, while the median price rose 2 percent to $1,483,750. Homes also spent 21 percent less time on the market then they did a year ago.
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Darien sales prices were up 12 percent to $1,823,798, which was led by sales at the high end of the market. Sales in Darien rose 11 percent and sold 11 percent faster.
Greenwich reported a 50 percent increase in sales, but the prices were lower across the board, with the average falling 9 percent and the median falling 4 percent.
Westport had an 8 percent rise in the median price, sales were up 35 percent and homes stayed on the market an average of 101 days, a 6 percent improvement over last year.
Norwalk prices averaged $643,391, which was an increase of 7 percent compared to the previous year.
Stamford homes sold for an average of $679,770, which was down 10 percent from the previous year, and the number of sales also declined 11 percent from the same time a year ago.
Wilton saw a rise in both the median and average price of homes, 10 percent to $845,000 and 7 percent to $906,084 respectively, though the total number of sales declined 17 percent.
Fairfield saw a decline in sales over $2.5 million, which led to an average price 3 percent lower than last year, while the median rose 16 percent.
For more information on Halstead's Second Quarter market report, please visit www.halstead.com.
Halstead Property is one of the largest residential real estate brokerage firms in the metropolitan area. Headquartered at 499 Park Avenue, the firm has nearly 900 sales and rental agents primarily located in 20 premier offices in Manhattan, Brooklyn, Riverdale, Hudson Valley, Hoboken, New Jersey and Fairfield County. In addition, the Development Marketing Division of Halstead Property is the exclusive sales and marketing firm for many new developments in the tri-state area and through the property management division, Halstead manages more than 18,000 residential units within 180 buildings.
To learn more, please visit www.halstead.com.