If you put your Fairfield County home on the market this summer, you may be wondering what the current real estate climate is like here. What are the homes around you selling for? Will your home be on the market forever, or will it sell within a few months? It is hard to know what to expect, and part of my job as a realtor is to educate my clients and give them realistic expectations before their home goes on the market. For the homes that I have recently sold, they have been on market an average of 53.5 days (from start to close – which is slightly less than the average) although the market is subject to change at any time. With that in mind, here is a look at the current market trends for two towns that I specialize in within Fairfield County. This data is pulled from August 1st, 2017 to September 5th, 2017.
Monroe, CT Market Trends
When you think of Fairfield County, you typically don’t think of Monroe, but it is a great option for those looking to commute to New York City or Stamford. In fact, it remains tucked into the category of “lower Fairfield County.” This past August, the average price of a home in Monroe was $424,960, with an average of 27 homes being sold within the August-Early September time period. If you live in Monroe and you’re looking to sell your home, it is certainly appealing to families who don’t have the money to buy in Weston, Wilton, or Southport but want to be close to the train stations.
Newtown, CT Market Trends
Newtown is one of my favorites, obviously I’m a hint bias being the town I have raised my children and spent my last 20+ years. Newtown maintains its small town aura with the benefits of being just 60 miles from New York City. It’s one of the more affordable towns in Fairfield County, with the average sale price of a home being $381,324 and an average of 48 homes being sold within the August-Early September time period. If you are selling in Newtown and your home is priced correctly, it is likely to sell fairly quickly. Buyers find Newtown appealing for the same reason they find Southbury or Monroe appealing: great location for a more affordable price.
Ultimately, it is hard to predict how long your home will be on the market, or how you should price your home so it will sell. It’s important to enlist a qualified and experienced real estate professional, who knows the market you are selling in. I have been assisting sellers and buyers in Fairfield County for years, and know the Monroe and Newtown markets inside and out! People are still buying homes in Connecticut and one of the major draws today are buyers looking to expand their families or move closer to loved ones. Often times the proximity to family and friends may outweigh the decision to live in a less affordable state. For selling, it all comes down to how your home is priced and what the buyer is getting for their money. If they see great value in your home and in the town itself, it won’t be long before you are sitting at the closing table!
If you are buying or selling in this area, I can help you during all the stages of the process. Don’t be afraid to reach out and let me know what I can do for you. To see all my current listings, visit my website: kathysuhoza.com.