The Real Estate Chronicle 
April 2016 Edition
    

 
Steven Thomson
(203) 247-6765 

"The Best Move You
Can Make"

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2015

Top 6% of approximately 87,000 Coldwell Banker sales associates worldwide

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Five Star
Connecticut Magazine 2012,2013, 2014, 2015 
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As the spring market is well underway we are experiencing pockets of strength in specific price categories and an increase of inventory in others.
 
The current statistic nationally is 4.4 months of supply at the current sales pace which is below the roughly six month supply level needed for a balanced market between buyer and sellers.
 
The national inventory numbers are conveying a very different market than we are experiencing locally.
 
Locally we are seeing approx.14-21 month supply. This type of market environment is difficult to access and requires a real estate professional to navigate. It can be easy to over pay if not critically evaluated or be left without the property you love because the offer was not presented in its best light.
 
With our best two months of the spring market in front of us the local practitioners are looking for a more balanced market and favorable absorption of the inventory.
 
Mortgage rates remain very competitive helping to facilitate the market for both home buyers and sellers this season.
 
Market activity so far this year is as follows: Sales (SF) March 2016 YTD vs. 2015 were up in Westport (+1.6%), Weston (+9.5%), down in Wilton (-10.3%), up in Fairfield (+5.3%), Norwalk (+5.6%).     
    
Average Sales Price March 2016 YTD vs. 2015 was down in Westport (-12.0%), Weston (-1.0%), up in Wilton (+3.3%), down in Fairfield (-4.3%), Norwalk (-1.1%).      
 
See my comprehensive market action reports for sales, pricing, time on market and trends over the past two years .  
 
Freddie Mac's Primary Mortgage Market Survey showed mortgage rates declining slightly from the previous week to reach a new low for the year.
 
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. 
 
Steven 

My Featured Listing
 

Georgian Colonial Estate with Old-World Craftsmanship
 
80 Fleming Lane, Fairfield, Connecticut
 
Old-world craftsmanship and exquisite appointments compliment modern amenities in Greenfield Hill. Private terraces, courtyards and gardens surround 4.25 park-like acres.
 
Superbly updated, this Georgian Colonial Estate features an octagonal living room with marble fireplace, elegant dining room, two butler's pantries and two-story family room.
 
Envision a kitchen with limestone counters, premium appliances, custom fireplace and dining area overlooking a gunite pool. The renovated master wing includes a dressing room, sitting room with fireplace and luxurious marble bath. Recreation rooms, custom desks and closets, mudroom, wine reserve plus a four-bay garage.
 
Truly a "Great Expectation" that delivers. $1,899,000

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Home and Real Estate Topics
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In 2015, real estate sales sharply shifted toward the Millennial buyer and there are many ways sellers can prepare their home to attract this buyer. Here are ten things Millennials look for, and how to implement them in your home.


For most buyers, the mortgage is the largest monthly expense they will have. Yet most borrowers will do little to no preparation, negotiation, or shopping to get the best deal. And they end up paying much more for their loans than they need to. 


Your front yard is the red carpet inviting buyers into the beauty that is your home. If it's rugged, messy and unkempt, buyers will take one look and then keep on driving to the next property on their list. Don't let that happen by making your front yard luscious and as amazing as the inside of your home.

Monthly Market Action Reports

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Looking for market data for your town? 
 
Property sales, price trends, inventory, months supply of inventory, selling price per square foot, selling price vs. listing price ratio.
 
Westport   Weston    Wilton   Fairfield    Norwalk
 


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Westport Riverside
472 Riverside Ave
Westport, Connecticut 06880

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