June is here and so is the beginning of our summer season, typically a slower time of year when families are busy with end of school year functions and seasonal holidays. We are seeing a noticeable difference from this time last year when the market activity, robust from our spring market continued into the summer season.

This year we are experiencing the slower summer doldrums which if the market was trending seasonally would be normal. So not to be alarmed. I had mentioned in my previous newsletter that this year's sales have not kept pace with 2013 and we are seeing further follow through of that same trend.

YTD Sales (SF) through April 2014 vs. 2013 were down in Westport (-17.4%), Weston (-22.2%), Wilton (-3.8%), up in Fairfield (+9.5%), down in Norwalk (-15.1%).

That being said prices have continued to appreciate in Weston, Wilton, Fairfield and Norwalk with the exception of Westport down 7% from the average sales price vs. last year. See further data points on my Market Action Reports.

A notable data point out this week was that fixed mortgage rates were essentially flat, having fallen for five straight weeks, further supporting our buyer pool and remaining at historically low levels.