Halstead Property

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

Area Home Sales Show Positive Trend

Halstead Property today released its Connecticut Second Quarter 2011 Market Report for single-family home sales. Compiled with data pulled from MLS records, the report shows that sales have increased in many Fairfield County towns over the same time last year, showing a renewed confidence among buyers.

“The market in Connecticut is starting to gain momentum, as evidenced in our quarterly market report. Spring is traditionally one of our busiest markets of the year but we had an incredibly harsh winter that delayed or prolonged sales and putting properties on the market. That said, during this quarter, we started to see a renewed confidence among buyers and the continuing trend that we are seeing is that move-in ready homes are moving quickly when priced effectively,” said Diane M. Ramirez, president of Halstead Property.

The Halstead Property Second Quarter Market Report also noted the following town-by-town trends:

• New Canaan had 74 closings this quarter, an increase of 28% over the last year. The average price rose 11% to $1,909,664, and the median price rose 2% to $1,483,750.

• Darien sales prices were up 12% to $1,823,798, which was led by sales at the high end of the market. Sales in Darien rose 11% and sold 11% faster.

• Greenwich reported a 50% increase in sales, but the prices were lower across the board, with the average falling 9% and the median falling 4%.

• Westport had an 8% rise in the median price, sales were up 35% and homes stayed on the market an average of 101 days, a 6% improvement over last year.

• Norwalk prices averaged $643,391, which was an increase of 7% compared to the previous year.

• Stamford homes sold for an average of $679,770, which was down 10% from the previous year, and the number of sales also declined 11% from the same time a year ago.

• Wilton saw a rise in both the median and average price of homes, 10% to $845,000 and 7% to $906,084 respectively, though the total number of sales declined 17%.

• Fairfield saw a decline in sales over $2.5 million, which led to an average price 3% lower than last year, while the median rose 16%.

Thursday, July 28, 2011