Market Update Summer 2023

The Northeast still leads the country in recent home price growth.  We seem to be insulated in our local market from the national narrative.  The July average sales price for homes in Fairfield was $1.36M, an increase of 20% since this time last year, and in Easton was $1.09M, an increase of 14% from this time last year.  Inventory is down 68% in Easton, and actually up 12% in Fairfield compared to last year.  Properties are trading around 5% over asking on average in Fairfield, and just under asking in Easton (-1.9%).  Despite the interest rates, it’s still an extremely active and competitive buyer environment.  Open House and showing traffic is robust, and many homes are still receiving multiple offers (many over asking) and are under contract within days.

Buyers, let us help you see the opportunities in this market instead of the obstacles. We can help you prepare to compete.  Make sure your mortgage preapproval is current and consider putting it through underwriting to be more competitive.  Work with a local agent and mortgage lender who understands the market, and don’t give up on finding the home you’ve been dreaming of.  Stay in the game and let us know how we can help.  We have strategies for buyers!

It’s still a great time to sell and get top dollar for your home.  Sellers, even if you’re just beginning to think about selling, start planning how to get your home looking its best.  Presentation matters!  I’m happy to speak with you about ways to present your home in its best possible light and price it to get the most eyes on your property.  My marketing plan is exceptional!!

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.