Halstead Property

Diane M. Ramirez
President
dramirez@halstead.com
(212) 381-3203

Fairfield Fewer Homes Sold But At Higher Prices

Halstead Property's Connecticut Single-Family Sales Report for First Quarter of 2011 a Mixed Bag

By Andrew Brophy

Fewer houses sold in Fairfield in the first three months of 2011 compared to a year ago, but the average sales price was higher, according to a report released Friday by Halstead Property.

The report says 85 homes sold in Fairfield from Jan.1 through March 31 - compared to 106 in that timeframe in 2010 - and that the average sales price of $745,236 was 9 percent higher than the average sales price of $681,566 in the first three months of 2010.

But the median sales price, which is the midpoint of a series of sales, dropped 10 percent - from $527,250 in the first quarter of 2010 to $475,000 in the first quarter of 2011 - because the median wasn't as impacted as the average by high-end sales, according to Halstead Property's Connecticut Single-Family Sales Report for the first quarter of 2011, which was e-mailed to the media Friday afternoon.

Houses also stayed on the market longer in the first three months of this year compared to the first three months of last year - 125 days vs. 100 days, according to the report.

Halstead Property's breakdown in real estate sales in Fairfield says:

* 85 homes sold in town in the first quarter of 2011 after spending an average of 125 days on the market. The average sales price was $745,236; the median sales price was $475,000.

* In the fourth quarter of 2010, 121 houses sold after spending an average of 104 days on the market. The average sales price was $675,106; the median sales price was $485,000.

* In the third quarter of 2010, 165 houses sold, after spending an average of 90 days on the market. The average sales price was $671,621; the median sales price was $540,000.

* In the second quarter of 2010, 201 houses sold, after spending an average of 97 days on the market. The average sales price was $702,172; the median sales price was $520,000.

* In the first quarter of 2010, 106 houses sold, after spending an average of 100 days on the market. The average sales price was $681,566; the median sales price was $527,250.

Friday, May 20, 2011