Halstead: Real estate market news positive
Published 10:31 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.
Darien had fewer sales but the homes sold 11 percent faster, showing a steady demand amidst tight inventory, 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:
New Canaan had a sharp rise in both average and median prices, up to $2,119,085 and $1,725,000 respectively.
Greenwich saw the average price soar 65 percent with the large high-end sale as noted earlier. In addition, the median sales price was up 7 percent to $1,700,000 and homes spent 21 percent less time on the market compared to last year.
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.