Market Update – November 2023

We are still in a market with record low inventories across all towns in Fairfield County compared to 2020, and home prices are still appreciating.  Properties that are prepared and priced properly continue to close above asking price. The pace of the market has slowed a bit, which is normal for this time of year.

We are seeing Relocation buyers this time of year who would like to buy and be ready for the new year with their new job.  This is a good time to buy and take advantage of the decreased competition from other buyers.  Sellers, even if you’re just beginning to think about selling, we can offer valuable insight on buyer preferences and worthwhile improvements. Let our team help you get your home
looking its best.

The rental market is transitioning.  In Fairfield County the average lease price has decreased 5.1%, while the number of properties leased has risen 9.7% compared to one year ago. Both Fairfield and Westport saw a decrease in average lease price (12.2% and 12.5%, respectively).

As always, reach out if you are thinking of buying or selling. I would love to hear about your real estate goals and discuss creative buying and selling strategies or answer any questions you may have.  Or just reach out to say “hi”.   I would love to catch up.