October has continued to be another busy Fall month. The market activity has tapered off a bit but continues to maintain an above average pace for this time of year. There continues to be an overall positive buzz in the market, still quite a large buyer pool looking for just the right home and sellers who price right and show well, selling!
As much as our Market Action Reports are showing price appreciation through our towns the local appraisers are telling me that they are not yet able to adjust for an appreciating market place but maintain the "stable" language in their reports to lenders. I imagine that if the trend stays in place it will not be to many more months and they will have to start to embrace the data points.
SIngle family sales continue to outpace last year; Westport 29.4%, Weston 46.8%, Wilton 22.5%, Fairfield 18.9%, and Norwalk 25.7%. The average sale price is also up YTD vs the same period last year.
Check out our Market Action Reports for the details.
This Sunday is the Coldwell Banker "Fall in Love with the American Dream" Open House Event, 53 homes ranging in price from $259,000 to $2,895,000 are on the tour. Going to open houses is a good way to get a better sense of the market.
As we experience our Fall market, we will be here to advise and inform you of our local market behavior. Don't hesitate to get in touch if you have any questions.
Have a safe and happy Halloween!
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