About Fairfield's Beach Area

Fairfield Beach Update for September 30, 2009

There have been 49 Single Family homes sold so far this year. This is down from the 59 that sold last year at this point. It continues a two year decline from the 89 Homes that sold in 2007 or a 45% decrease in units sold.

The Average Selling Price this year for the Beach Area is $794,113. The Good News is that this represents only a 8% decrease from last year. It is 15% below the Average Price in 2007 of $986,840.

There are 84 Homes for Sale currently. We are averaging 7 Homes sold per month for the first 9 months of the year. This means we have a 12 month inventory of homes or the other way to say it is - The Average Market Time for a home in the Beach Area is 12 months.

The homes for sale range from a small Ranch for $267,000 which just came back on the market to $5,499,500 for a Fairfield Beach Road home that is Direct Waterfront. To see these and all the homes for sale in Fairfield, just go to www.tetreau.com.

This information is taken from the Greater Fairfield County MLS.

The Fairfield Beach Area has traditionally been one of the strongest Real Estate markets in Town. Buyers who wanted to be close to the water and preferred New Construction really drove this market for the last ten years or more. Through July 31st of this year, 38 Single Family homes had been sold. This is down 10% from last year and 43% from the 67 homes that sold in 2007.

The Average Sales Price came in at $775,882. This a decline of 20% from last year's Average of $995,554.

This Analysis is based on data from the Greater Fairfield County MLS.

To see all the homes for sale in Fairfield County, visit http://www.tetreau.com

Our businesses have changed so much in the last few years it is mind boggling sometimes. There are 5 very iimportant numbers we need to educate our clients about which will affect the successful sale of their home. The number of home sales recently; the sales prices; the inventory; mortgage rates and affordability. If we appeal to their sense of logic and intelligence in this market (wrap it up nicely in your presentation face) you will surely impress. The last nugget comes into play with Location, Location, Location! This is what they need you for. You are the neighborhood expert and trending specialist. Start with the five though and you will win them over. Our clients are looking for someone to make heads and tails of everything they hear elsewhere!

Today in beautiful 60 degree weather, I got to take out a lovely young couple. They are engaged to wed in August...so in love...so young and innocent. So excited that they were getting to view homes as he works traditional hours and she works every other weekend. So...after a buyer counseling session that ended with her asking me the question, Mary Beth, "friends of ours, like us, have told us that this experience, of buying a house...at the end of the day...you are just depressed. Are we going to be depressed?" I thought long and hard as they are in the lower end of the first time buyer market. The inventory has somewhat slim pickins. So, I sat for a minute and looked them both in the eyes and said, "it is not about the house. It is about the dream you both have of living together and creating a life for you and your family. This market isn't for wimps. It is going to be hard work. The first thing I need you to do is widen your filters regarding what you think you must have in a home. Have no expectations for any of the properties you might see today. I couldn't have planned what happened in the second home. There was a nice young couple, with their dad and their REALTOR...looking at the same house. I offered to wait outside and they insisted we come in while they were there. They were oozing remarks that would make any builder blush...high quality craftsmanship, beautiful tile choices and more. As we left, they said, "See you at the next house!" The excitement in the Spring market needs to be contagious! Go make it happen...these buyers want to buy.

Fairfield Beach - Home Sales Update - 2007

The Fairfield Beach Area continues to be one of the best performing neighborhoods in town. While slowing a bit in 2006, the Real Estate Values and demand were back strong in 2007. Both Unit Sales and Prices were up to historical highs - outpacing 2005 and the slower 2006. There hasn't been a better investment.

The Beach Area encompasses smaller homes and newly built larger ones. The older Capes, Ranches and Bungalows are slowly giving room to major new construction projects. This is creating some angst in many longterm Beach residents about the changing nature of the neighborhood. This diversity can be seen in the sales for last year. The lower end of the market is represented by a small Ranch on Alden Street that sold for $340,000. The higher end of the market is seen in three sales on Fairfield Beach Road for $3.2 Million, $3.3 Million and $3.55 Million.