A fourth quarter market report for 2013 shows that the average and median price were mostly up from the same quarter last year in Fairfield County. Fairfield saw a jump of 35% in average price compared to a year ago. Darien’s average price rose 7% over last year, New Canaan saw a 27% increase in the median sales price and Norwalk’s average sales price rose 21%. Prices were also mostly up in all the towns in the report.
“As our fourth quarter market report shows, we are ending the year on a positive note with many towns showing increases in the number of sales and a rise in the average sales price,” said Diane M. Ramirez, CEO of Halstead Property. “The Fairfield County market remains strong, with inventory at historic lows and a continued demand for properties. I anticipate an interesting 2014 with the Fairfield County real estate market.”
The market report also noted the following town-by-town trends:
• Darien’s average price rose 7% over last year to $1,919,254.
•Fairfield had a 15% rise in sales over the same period last year and the median was up 7% to $558,000.
• Greenwich had a decline after a sharp rise at the end of 2012 as luxury sellers rushed to close before increases in capital gains taxes took effect.
• New Canaan saw its average price rise 4%, to $1,784,759, compared to a year ago.
• Norwalk homes sold for an average of $568,818, a 21% improvement over last year. There was a 13% gain in the number of closings.
• Stamford’s average price was 20% above last year’s figure and rose to $718,860, the median saw a 12% improvement to $600,000. The number of sales rose 19% from 137 last year to 163 this year.
• Westport had the biggest increase in closings over last year with 24% more than 2012’s 4thquarter. The average price rose 16% to $1,514,169 and the median was 3% higher at $1,199,500.
• Wilton saw falling inventory and prices were pushed higher as a result. The average was up 34% to $1,024,872 and homes spent 7% less time on the market.