As the year comes to a close it's nice to see such positive trends as the housing market continues to improve. We are seeing an increase in unit sales along with moderate price appreciation.
Single family sales continue to outpace last year; Westport (27.8%), Weston (29.2%), Wilton (11.8%), Fairfield (15.1%), Norwalk (21.5%). Average Sales Prices vs. last year are up in Westport (11.5%), Weston (6.4%), Wilton (13.1%), Fairfield (11%), Norwalk (5.8%). Check out our Market Action Reports for the details.
We are finally seeing some seasonal cycle predictability which is another sign of a more normal market. In our area we continue to have a very large and pent up buyer pool, awaiting the new spring 2014 inventory, but ready to pounce today if they find the right property.
As the new year rolls in so do a few new mortgage rules. More than ever it will be necessary for buyers to consult with a lender and get pre-approved before starting the buying process and for sellers to get their home in order to embrace the competitive spring market.
We are here to advise and inform you of the local market and answer any questions you may have. Don't hesitate to get in touch.
Enjoy your families and this wonderful holiday season. Our very best to all!!
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