With spring brings renewed confidence and demand, although the numbers through April remained mixed.  There continues to be only pockets of strength and inventory remains challenging. 

The number of homes on the market for sale in Fairfield County is down 10% vs April of last year.  Westport -8.8% Weston -18.4% Wilton +.4% Fairfield -4.2% Norwalk -10.8%.  Regardless of the inventory levels, agents and industry services surveyed have yet to feel a solid wave of activity that is normally felt at this stage of the spring market.

YTD Sales (SF) through April 2015 vs. 2014 were down in Westport (-9.9%), up in Weston (+17.9%), down in Wilton (-14.0%), up in Fairfield (+6.2%) and Norwalk (+5.6%).    

YTD Average Sales Price 2015 vs. 2014 was up in Westport (+12.1%), down in Weston (-5.5%) and Wilton (-6.2%), up in Fairfield (+8.1%) and Norwalk (+0.7%). 

See my comprehensive market action reports for sales, pricing, time on market and trends over the past two years. 

Rents remain high, continuing to support the good economic sense to purchase.  Mortgage rates have moved up a bit in the last weeks but still remain in great shape for the buyer.  Low buyer activity was blamed on weather for the last couple of months but now that the weather has changed for the better, we will see if that was the case or if there is a subtle pause in the market place.   

Freddie Mac, in its Primary Mortgage Market Survey, reported this week  that the Fixed Rate Mortgage averaged 3.80 percent up from last week when it averaged 3.68 percent. A year ago at this time, the 30-year FRM averaged 4.21 percent. 

I am 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 the warm weather this weekend and have a Happy Mother's Day! 

Steven