Fairfield, CT

January 8, 2008

Fairfield Real Estate Yearend Update

Our local Real Estate market finished another solid if not spectacular year. Fairfield Single Family unit sales finished strong in 2007 with 766 homes sold. While the year wasn't a record setter, unit sales finished up 17% over 2006. And importantly, the Median Selling Price remained stable - up 1% over the prior year at $635,000. Fairfield and the surrounding towns are doing well amidst the turmoil in the national real estate markets.

While the Subprime Credit crunch has caused a big dip in certain markets nationwide, locally, it is the cities that have seen the major impact. In Bridgeport, for example, unit sales of Single Family homes finished down 34% from 2006 and down 45% from 2005. Surprisingly, the Median Selling Price in the city has remained unchanged at $250,000 for the last two years.

The Average Selling Price had continued to climb in Fairfield. This is a result of increased sales of higher end luxury homes. This price segment is impacted less by the current credit crunch. In 2006, there were three sales over the $5 Million mark with the highest reaching $6,975,000. However in 2007, we had seven sales over the $5 Million mark with the top two reaching $7,750,000 and $7,850,000. This sales activity at the upper price ranges is driving the Average Selling Price for 2007 up 9% over the prior year.

New Construction remained stable at 57 New Homes for the year. This included both homes built on previously vacant land and homes built after a "knock down". This compares to 53 New Homes in 2006 and 56 New Homes in 2005. New Home prices continue to climb. The Average Selling Price for 2007 came in at $1,367,226. This is an increase from the 2006 level of $1,191,349.

Overall, the inventory or number of homes for sale is down from the historic levels of 2006 but not as low as the years prior to 2005. The market times are down from 2006 but still longer than most sellers are used to. Prices are no longer climbing at a record setting pace but they are not tumbling either. Our local market continues to hold value and be a good investment.

Mike & Fern "Coach" Tetreau are a father-son Realtor team with William Raveis Real Estate in Fairfield and can be reached at 659-0622.

Dear Reader,

I would like to take this time to quickly introduce one of the best Realtor's that I have met in the many years that I have been in the Real Estate Financing Business: Realtor Helene Daly of Fairfield County Real Estate

About Realtor Helene Daly:

Helene Daly
Fairfield County Real Estate

200 Mill Plain Road
Fairfield, CT 06824
Phone: 203-913-4026
Fax: 203-255-5952
E-Mail: helenedz53@aol.com

Website: http://www.helenedaly.com/

* Listing and selling homes in Fairfield, Southport, Trumbull, Westport, Easton, Bridgeport,
Stratford, and Newtown.
* Resides in Fairfield, married and raising five school-aged children.
* Member of St. Thomas Aquinas Church serving as Eucharistic Minister, Parish Advisory Board
member, active in the St. Thomas Home-School Association and past executive board.
* Additional volunteering includes: Welcome Club of Fairrfield, Christmas in the
Mansion for Lauralton Hall Academy and Thomas Merton House, homeless shelter in Bridgeport.
* Enjoys running, playing Ice Hockey with the Mighty Moms of Wonderland of Ice, Bridgeport
* Previous career in Advertising and Marketing.

How I met Helene Daly:

I was on my way to a restaurant in New Haven when we noticed an open house sign up on my parents street so I was curious to see how much the house was being listed for so we entered the home for a quick look. The home was listed by Helene Daly and the price was excellent. She had gotten the home ready for a quick sale like always. I briefly spoke to her and we exchanged business cards because she said that she had seen me in the local newspaper Fairfield Minuteman http://www.FairfieldMinuteman.com/ and always wanted to meet me in person. Well, a day goes by and I receive an email that she is inviting me to co-host a public open house with her and a brokers open house. I gladly accepted and we met again for the second time at a public open house. Then a week later goes by and we had the broker open house which was catered and lunch was provided by THE PANTRY http://www.thepantry.net/ of Fairfield, CT. We had Chinese Chicken Salad, Fruit Salad and an assortment of items from their bakery. The food from the pantrywas excellent and all of the realtors and brokers enjoyed the lunch. The broker open house was a huge success as 30+ agents attended on a rainy/cold day. Believe it or not, there was an agent that walked through the home who said that she might have someone that fits this home so Helene Daly will most likely sell this home very soon!

I highly recommend Realtor Helene Daly to everyone in Fairfield, Connecticut and the surrounding towns here in Fairfield County, CT.

Please join me in welcoming her to the Active Rain Real Estate Network! Her Active Rain Real Estate Network profile can be found by clicking on her name here: Helene Daly

Thanks for your kind attention.

Your Fairfield, CT Loan Consultant,

Nima "Mortgage Man" Countrywide Home Loans

203.913.6016

http://www.mynima.com/

* Member of the Fairfield, Connecticut Chamber of Commerce

*Note: I can do loans in all States! Available to you 7 days a week until 10pm! Always working for you! Call today for a complimentary mortgage consultation or a pre-approval.

Top 7 Ranked Things To Do In Fairfield:

#1 Connecticut Yankee Balloons:

120 Flax Road
Fairfield, CT 06824

203-255-1929

Hot-air balloon flights over the Litchfield Hills, central Connecticut and the Housatonic and Naugatuck River valleys, weather permitting.

#2 Ogden House & Gardens:

1520 Bronson Road
Fairfield, CT 06824

203-259-1598

18th-century saltbox farmhouse furnished to portray the lives of its Revolutionary-era inhabitants.

#3 Connecticut Audubon Center at Fairfield:

2325 Burr Street
Fairfield, CT 06824

203-259-6305

http://us.lrd.yahoo.com/_ylt=Asi32MjBhNtJ7_ZIpMggvSvaPmoL/SIG=11t57pifg/**http:/www.ctaudubon.org/centers/fairfield/fairfield.htm

Natural history exhibits, compounds for non-releasable animals, references library and shop in nature center.

#4 Walsh Art Gallery:

at Quick Center for the Arts

Fairfield University
Fairfield, CT 06824

203-254-4000 ext. 2969

Gallery hosts six exhibitions annually by local artists and traveling exhibits.

#5 Fairfield Historical Society Museum:

636 Old Post Road
Fairfield, CT 06824

203-259-1598

http://us.lrd.yahoo.com/_ylt=Asi32MjBhNtJ7_ZIpMggvSvaPmoL/SIG=11faicm6o/**http:/www.fairfieldhistoricalsociety.org/

Collections spanning 350 years of Fairfield life, changing and permanent exhibitions.

#6 Center for the Performing Arts:

Sacred Heart University

5151 Park Avenue
Fairfield, CT 06824

203-374-2777

A professionally produced theater series featuring three musicals each year.

#7 Quick Center for the Arts:

Fairfield University
Fairfield, CT 06824

203-254-4010

877-ARTS-396

877-2787-396

Center contains two theaters: Kelley Theatre(750 seats) and Wein Experimental Theatre (150 seats).

Available to assist you with all of your home financing needs 7 days a week! Call Nima today: (203)913-6016

Your Fairfield Mortgage Specialist,

Nima Rezvan

Home Loan Consultant

203.913.6016

http://www.mynima.com/

Call me for a complimentary pre-approval, mortgage advice and answers to all of your questions!

Member of the Fairfield, Connecticut Chamber of Commerce:

http://www.fairfieldctchamber.com/online/directory/display.asp?business=Countrywide+Home+Loans

Member of the Stamford, Connecticut Chamber of Commerce:

http://www.stamfordchamber.com/membinfo.asp?id=5996

Welcome to the Active Rain town profile of Fairfield, Connecticut http://www.fairfieldct.org/

Fairfield, CT Community Links:

Clubs and Organizations

Community Calendar

Coastal Fairfield County Convention and Visitor Bureau

Connecticut Tourism

Day Care Centers and Nursery Schools

Fairfield Arts Council/Cultural Calendar

Fairfield Board of Realtors

Fairfield Chamber of Commerce

Fairfield Citizen News Newspaper

Fairfield Historical Society

Fairfield Minuteman (newspaper)

Pequot Library (Southport)

Places of Worship

State and Federal Representatives

(*Links were taken from the official fairfield, ct website)

(*Source: fairfieldcountytowns.com)

Available to assist you with all of your home financing needs (Purchase or Refinance) 7 days a week!

Call Nima today: (203)913-6016

Your Fairfield County Mortgage Specialist,

Nima Rezvan

Home Loan Consultant

203.913.6016

http://www.mynima.com/

Call me for a complimentary pre-approval, mortgage advice and answers to all of your questions!

Member of the Fairfield, Connecticut Chamber of Commerce:

http://www.fairfieldctchamber.com/online/directory/display.asp?business=Countrywide+Home+Loans

Member of the Stamford, Connecticut Chamber of Commerce:

http://www.stamfordchamber.com/membinfo.asp?id=5996