Market Update – October 2023

We are still in a market with record low inventories across all towns in Fairfield County compared to 2020, and this has contributed to a swell in home prices.  Properties are still closing above asking price.  Despite this market appreciation, 25% of properties in Fairfield County have taken a price reduction in the last 60 days  –  36% took reductions in Easton and 33% in Fairfield. Are we transitioning?  Are properties not being priced correctly?  Probably a little of both.

Buyers are looking for homes that are move-in ready, and those that are not, are eventually taking price reductions.  Sellers that prepare their home for sale and price it properly when it initially goes on the market are attracting the most interest and getting top dollar for their homes.  Sellers, even if you’re just beginning to think about selling, I can offer valuable insight on buyer preferences and worthwhile improvements. Start planning how to get your home looking its best.  Presentation matters!

There is still time to purchase a home and move-in for the holidays.  Buyers, let me help you see the opportunities in this market instead of the obstacles. Sellers, this is a good time to put your house on the market and take advantage of the decreased competition.

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.