Raveis data find home sales down, prices up
The Fairfield office of Shelton-based William Raveis Real Estate, Mortgage and Insurance in its recent market overview for January found sales in its bailiwick down 25.5 percent compared with January 2015, from 47 to 35 units sold.
The Fairfield median price in January, however, was $652,920, up 14.75 percent from $569,000 in January of 2015.
The price per square foot for Fairfield in January was $318, stronger than in December when the figure was $290, but down from $379 in January 2015.
Raveis reported also that time on the market was up 23 percent to 123 days.
The price per square foot in Norwalk in January was $291. “This is up 17 percent from $249 in January of 2015,” the company reported.
In Ridgefield, however, the price per square foot was down 19.7 percent, even as the town”™s individual home median sale price was up 14.7 percent January over January.
Besides Fairfield”™s 14.75 percent median-price uptick, other towns in the broader Raveis report saw their median sale prices up across the county compass: New Canaan up 38.99 percent; Wilton up 29.28 percent; New Fairfield up 29.19 percent; Danbury up 28.94 percent; Shelton up 28.5 percent; Westport up 26.11 percent; Newtown up 22.95; Bridgeport up 11.11 percent; and Trumbull up 9.54 percent.
The company also said, “Inventory of 491 in January was up 10.3 percent from 445 in December and up 17.5 percent from 418 in January of 2015. New listings of 128 in January were up substantially from 46 in December and up somewhat from 103 in January of 2015. Months of supply — the amount of time it would take for all the current homes on the market to sell — in January was 7.6, unchanged from the same month last year.” In Ridgefield, the months-of-supply figure was 8.8, up 32.8 percent January over January.
Referencing the figure of 35 unit sales in Fairfield, Raveis said, “This is the lowest unit sales have been since 25 in February 2015.”
The company also said the ratio between the sale price and the listed price in January moved up to 96.1 percent from 95.3 percent in December.