We have seen positive market activity over the past few months. In Fairfield County Single family homes, we experienced an increase in both median sales price and unit sales in January and February 2010 vs. 2009.  This is a continued indication of stabilization of the Single Family home market in Fairfield County.

There are currently 7,183 active single family homes on the Greater Fairfield county Consolidated Multiple Listing System. So far this year, there have been 809 single family closed sales.  This represents a unit sales increase of 30% vs. the first two months of 2009. The median selling price in 2010 was $370,000 which represents a 10% increase vs. the first two months of 2009.

The number of units sold over $2MM nearly doubled and the number of sales over $3MM tripled! There are currently 670 homes on the market over $2MM and 345 over $3MM. As you can see, the inventory is still substantial.

There are 1,011 single family homes with fully executed contracts waiting to close.  The median list price of those homes is $369,000.  There are 641 properties with accepted offers.  The median list price of those with accepted offers is $409,000, higher than the list price of those homes with fully executed contracts. These are important numbers, which I report each month, because they help us to project the trend in the current sales price during the upcoming months. In this case it looks as though the median sales price is stabilizing and will be either flat or slightly higher during the first few months of 2010 vs. the median sales price during 2009.

Contact me for the market statistics specific to your town and neighborhood as they may vary greatly from town to town and even neighborhood to neighborhood.