Fairfield County Real Estate Market Summary

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Featured Listing

For Sale: $847,000

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Fairfield County Summary-Cheryl Scott-Daniels

Fairfield County Real Estate Market - Monthly Market Summary by Town


Westport, Weston, Wilton, Fairfield, Easton, Norwalk, Trumbull, Stratford. If your town is not on this list, email us for market statistics specific to your town!

 



 

To Rent Or Own

Are Pet Owners More Likely to Rent or Own?

What does owning a pet say about you? Living with a furry (or scaly) friend could mean that you're a college student craving companionship, that your young children are in need of a four–legged playmate, or that you're an empty-nester with an affinity for fish. But what if owning a pet could predict if you're more likely to rent or own a home?

Researchers at the Urban Institute recently looked at the data from its 2017 American Housing Survey (AHS) in a way that shines  new light on America's love for animals. According to the Urban Institute, the 2017 survey asked if respondents "would need help with their pets in case of a disaster." In addition to affirmative and negative options, there was also the option to say the respondent did not own a pet (dog, cat, turtle, goldfish, etc.). This question was also asked in the 2013 AHS survey, allowing the researchers to dive into the data and uncover some trends.

What the Urban Institute found probably isn't too surprising. For instance, pet ownership in a household is at its highest when the head of the home is in their 40s; and married adults are more likely to own a pet (57%) compared to their single counterparts (43%).

It gets more interesting when you start comparing renters vs. homeowners. The researchers found that homeowners are more likely than renters to have pets... a lot more likely. Again, it may not be that surprising as many rentals have pet restrictions — but homeowners are a full 20% more likely to own pets than renters. (57% compared to 37%). That's a significant gap and likely not a coincidence.

And according to a Realtor.com report earlier this year, 80% of recent homebuyers owned pets, so expect those numbers to increase in the next AHS survey. Man's best friend? More like homeowner's best friend.

TV Myths Explained

5 Real Estate Reality TV Myths Explained

5 Real Estate Reality TV Myths Explained | MyKCM

Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? We’ve all been there, watching entire seasons of “Love it or List it,” “Million Dollar Listing,” “House Hunters,” “Property Brothers,” and so many more all in one sitting.

When you’re in the middle of your real estate themed show marathon, you might start to think that everything you see on TV must be how it works in real life, but you may need a reality check.

Reality TV Show Myths vs. Real Life:

Myth #1: Buyers look at 3 homes and decide to purchase one of them.
Truth: There may be buyers who fall in love and buy the first home they see, but according to the National Association of Realtors the average homebuyer tours 10 homes as a part of their search.  

Myth #2: The houses the buyers are touring are still for sale.
Truth: Everything is staged for TV. Many of the homes being shown are already sold and are off the market. 

Myth #3: The buyers haven’t made a purchase decision yet.
Truth: Since there is no way to show the entire buying process in a 30-minute show, TV producers often choose buyers who are further along in the process and have already chosen a home to buy. 

Myth #4: If you list your home for sale, it will ALWAYS sell at the open house.
Truth: Of course, this would be great! Open houses are important to guarantee the most exposure to buyers in your area but are only a PIECE of the overall marketing of your home. Keep in mind that many homes are sold during regular showing appointments as well. 

Myth #5: Homeowners decide to sell their homes after a 5-minute conversation.
Truth: Similar to the buyers portrayed on the shows, many of the sellers have already spent hours deliberating the decision to list their homes and move on with their lives/goals.

Bottom Line

Having an experienced professional on your side while navigating the real estate market is the best way to guarantee that you can make the home of your dreams a reality!