As the market gets underway this year, we are experiencing slower activity as the weather has not been accommodating.  Inventory is down about 10% compared to last year this time meaning fewer houses for buyers to choose from. So my recommendation to sellers is to not hold back for better weather but get ready and list now. There are buyers who want to act now and houses that are priced right and look good are well positioned to sell quickly, maybe even getting multiple offers.   

If interest rates rise as expected during the year, buyers will be moving fast in order to spend less. With that said, Freddie Mac reported that average fixed mortgage rates, after ticking-up slightly, reversed course and fell this past week. The 30 year fixed rate averaged 3.59% down from last week when it averaged 3.66%. A year ago it was at 4.32%.

The numbers are showing a mixed start to the year, with Fairfield doing very well exceeding January sales compared to the past two years. Sales of single family homes in January 2015 vs. 2014 were down in Westport (-5.6%), equal in Weston, down in Wilton (-46.7%), up in Fairfield (+58.6%), equal in Norwalk. Pleases see my comprehensive market action reports for sales, pricing, time on market and trends over the past two years.

This weekend is Coldwell Banker's Open House Event, with 26 houses priced from $439,000 to $4,250,000, something for everyone. If you see something you are interested in and have any questions, please let me know. 

Steven