The Real Estate Chronicle 
July 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 summer unfolds, market breadth continues to blur the seasonality we have come to expect. No longer are the summer doldrums as much a factor. Our current market remains active with new properties being listed, although fewer than in the past, with the best in class being purchased.
 
Unit sales continue to keep pace with last year's solid sell through with some of my towns out pacing those numbers. Unfortunately we are experiencing softer pricing and lower closing prices in comparison to last year. The inventory continues to build at a faster pace than what is being purchased.
 
Market activity so far this year is as follows: Sales (SF) June 2016 YTD vs. 2015 were up in Westport (+15.7%), down in Weston (-11.1%), up in Wilton (+2.0%), down in Fairfield (-2.2%), up in Norwalk (+8.8%).        
 
Average Sales Price June 2016 YTD vs. 2015 was down in Westport (-15.2%), Weston (-8.5%), Wilton (-2.7%), Fairfield (-3.9%), up in Norwalk (+3.5%).      
See my comprehensive Market Action Reports for sales, pricing, time on market and trends over the past two years .  
 
As Brexit did create some financial turmoil in the markets, it provided a stimulus in favor of buyers with new historic lows on interest rate.

Freddie Mac released the results of its Primary Mortgage Market Survey, showing average fixed mortgage rates dropping further to new 2016 lows in the wake of the Brexit vote. At 3.41 percent, the 30-year fixed-rate mortgage is just 10 basis points from its November 2012 all-time record low of 3.31 percent.

This Sunday, July 10, is Coldwell Banker's Open House Weekend Event with 59 homes on display ranging from the $529,000 to almost $5,000,000. One of which is my listing at  267 Wakeman Lane in Southport, in a "Storybook Setting Overlooking Scenic Sasco Creek", from 1:00 PM - 3:00 PM. You can preview it at  www.267WakemanLane.com.
 
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 

Coming Soon - A Sneak Peek
 

10 Burr School Road, Westport, CT 
 
Custom Colonial set on a beautiful level acre with heated in-ground pool. Professionally landscaped to include wonderful stonewalls and mature plantings. The home is approximately 4,400 sq ft with 4 bedrooms and
3 baths with bonus room.
 
Fine appointments throughout to included decorative mill work, built-in cabinetry & hardwood floors. The two story foyer adjoins private home office & beautiful formal living room with fireplace. The dining room leads to the gourmet kitchen with white cabinets; granite counters, commercial grade appliances and sunny breakfast nook. The family room has large brick fireplace,
French doors to blue stone patio and sunroom.
 
On the second floor you will find an elegant master suite with fireplace, walk in closet and newly renovated master bath. On this floor there are 3 additional bedrooms with two full baths, bonus room and relaxing balcony
overlooking exceptional rear property and pool.
 
Centrally located to train, town and schools. All this in cosmopolitan Westport.
 
$1,899,000
 
Home and Real Estate Topics
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Summer time is the right time to think about
heading off winter disasters. What?! Are you crazy?
Why would anyone want to sit in the summer sunshine, cool drink in hand, and conjure up cold, nasty, expensive breakdowns or problems that are months, maybe years away?
If you're thinking about selling your home, you may be stressed out about all the things you need to do to get it market ready, and all the costs associated with those updates. Renovations don't have to cost you a fortune. By thinking smart about some of the updates that will have the greatest impact, you can minimize your spend and maximize your investment.

We love our bedrooms and bathrooms.
In 2015, the share of new single-family homes sold that had at least four bedrooms and at least three bathrooms hit a more than three-decade high. And one expert suggests this bedroom and bathroom trend is being driven by a 
fundamental change in American living arrangements.

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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