On a positive note for sellers, prices were up in all but Norwalk; Westport (+9.6%), Weston (+39%), Wilton (+7.9%), Fairfield (+21.2%), down in Norwalk (-4.2%). The low inventory has been a contributing factor. Take a look at my Market Action Reports for market details.

Buyers are out in force and in the last two weeks I have been seeing more new listings coming on the market than in previous weeks. The buyer pool is still a value driven group, ready to embrace a new listing that is properly priced and looking its best. Sellers need to take care of that deferred maintenance; buyers do not want to do work, especially for listings priced at the top of their range.

As for the mortgage process, I advise clients that it is important to get pre-approved early so they are ready to move on the right house when it pops up. The lending process is still very detail oriented, so getting ahead start is always the way to go in keeping to transaction timelines.

Freddie Mac released the results of its  Primary Mortgage Market Survey this week, showing average fixed mortgage rates moving down slightly as we head into the spring homebuying season.