The recent slowing in sales has hit the prestigious Greenfield Hill neighborhood too. This section of Fairfield is home to some of the largest properties and estates in town. As of July 31, 31 Single Family homes have been sold. This is down 25% from the homes sold last year. It is a decrease of 55% from the 69 homes that sold during this period in 2007.
The Average Selling Price for the year is $1,183,563. This compares to an average for last year of $1,319,107 or a 10% decline. It is off 18% from the same period in 2007 when Homes averaged $1,445,488.
The higher end homes seem to be feeling the impact of this downturn too. There were 4 Homes sold for over $2 Million this year compared to 12 homes in 2007. This represents a decline of 66%.
This analysis is based on data from the Greater Fairfield County MLS.
To see all the homes in Fairfield County for sale, please visit http://www.tetreau.com
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
The last two years have not been kind to Southport Real Estate. 21 Homes sold so far this year....down 22% from last year and down 54% from 2007.
Median price is up 6% over last year but down 16% from 2007. The increase over last year may be just a function of too few homes being sold. Avg Selling Price is off 11% from last year and a whopping 46% from 2007. The Average Price in 2007 was $1,790,685.
Southport is a great example of the current problem in the Real Estate market. Simply, it is a lack of buyers. Southport is a very desirable and prestigious location. It is Fairfield's town within the town. The harbor area is as beautiful as ever. There are plenty of homes for sale at some very good prices. Mortage Money is available and being offered at some very good interest rates.
All that is missing is the buyers!
This data was compiled from the Greater Fairfield County MLS.
Fairfield kicked off the National Pop Warner Football season with their Annual Sullivan Bowl. Four games were played on Sunday with the Fairfield Giants going up against the visiting Seymour Tigers. The 9AM game featured the Jr. Pee Wee team keeping Seymour at bay with a 12-0 victory. The 11AM game featured the Pee Wee teams in a closer contest with the Giants emerging victorious 6-0 over the Tigers. The 1PM gave the Jr Midgets a chance to show their stuff....and they did giving Seymour a 8-0 loss and keeping the scoreboard empty of any Tiger Points.
The Midget Game on 3PM added to the scoring and the excitement. Fairfield Scored to take a 7-0 lead. The Tigers came back to make it 7-6 at the half. Fairfield scored first in the second half to go up 13-7. Seymour hung tough and eventually knotted the score at 13-13. In the 4th Quarter, the Giants struck again to make it 20-13. The game ended with Seymour getting the final TD of the day but missing the PAT to leave the Giants winning 20-19.
All games were played at Sullivan Field in Fairfield.
Wilton also seems to be feeling the brunt of this Real Estate market. While 75 Single Family homes have sold in the first seven months of the year, this trails last year by 24%. This years performance is dramatically off the same period in 2007 where 150 homes were sold. Double the number for this year.
The Average Selling Price came in at $851,893. This is down 21% from last year. Like many surrounding towns, the highend segment has shown the biggest decline. There was just one home that sold for over $2 Million so far in 2009. Just two years ago, 15 homes priced over $2 Million sold in the first seven months of the year.
The data shows that with plenty of homes on the market, low prices and low interest rates - the market is being driven by a lack of buyers. On the reverse side, if you are a buyer, this is the best market in a long, long time to buy.
This data is from the Greater Fairfield County MLS.
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