Connecticut is seeing strength at the lower end of each market. As a result 6 of the 13 towns are seeing an increase in sales. But, when a town gets expensive buyers look at the surrounding towns. Only 2 of 13 towns saw an increase in median price. SaLT changes mean a NYC exodus, particularly from Brooklyn and Westchester Counties. Buyers come armed with information about top schools, our tax rates and train station times. 6 of 13 towns saw absorption rates come down versus a year ago. We are seeing cross-county "trade-up" buyers taking advantage of the low interest rates to get a better or bigger home. Finally, condo sales are down in all 7 of the 8 towns that have a large condo market. Westport, Darien, Rowayton and Redding are exceptions as seniors head south.
in Greenwich - Awful, no-good, terrible year. 38 sales versus 62 a year ago. Prices down 17%. Inventory down 15%. Condo sales are up 25%. Cos Cob is the affordable Greenwich neighborhood. I found this median house at 58 Valleywood in Cos Cob for $1.4 million pays $11,654 taxes.
The Cos Cob report
is here. Absorption rate up from 9 to 10.4 mos.
Absorption in Greenwich was 11.4 now 13.6 mos
- A mixed year. (Mostly small house) sales are up 16% causing average prices to decline 16% to $1.38 million. Inventory is down 19% from a year ago and the condo market is way down 35%. The average house, this one at 314 Main Street, pays $14,894 taxes
. The schools are still ranked #1 and the commute is 68 minutes from the New Canaan train station.
The full New Canaan report
is here. Absorption rate in New Canaan fell 6.3, is now 13.1 mos.
- A down year. Sales are down 5% Prices are down 10% to $588,000. Condo sales are down 8%. Inventory for houses is up 4% and condos inventory is up 39%. But, there is only a 3.3 month supply of houses under $500,000. This "average" house at 264 Chestnut Hill pays $7,755 in taxes.
The Norwalk report
is here. Absorption rate rose slightly from 6.4 to 6.8 mos.
- A banner year after a slow start. 73 sales, up 12%, and prices are up 10% to $2.39 million. An average house, 8 Robin Place, asking $2.35 million, pays $17,612 in taxes.
Condo sales are up 30% and prices are up 10% to $567,000. The Old Greenwich report
is here. Absorption rate fell from 10.3 mos. to 8.2 mos.
in Greenwich - Terrible year. Terrible Summer now starting to rebound. Third quarter closings are up 10% but the year is down 11%. Prices for the quarter and the year are down 20% and 23% to $1.893mm. Condo sales rebounded from 3 sales to 8 this year. This year is by far the worst in a decade. The average house, this one on 15 Stoney Ridge Lane, pays $15,399 in taxes
. The Riverside report
is here. Absorption rate FELL from 12.7 to 8.7 months.
-Wow. Quarterly sales of single family homes is up 33% to 249. Prices are rising 6% to $644,413 and the number of pending sales is up 17%. The average house, this one at 84 Barklay Drive, pays $11,038 in taxes
. Condo sales are not so fortunate, down 14% alongside a 5% dip in average price to $330k. The Stamford report.
The absorption rate fell from 7.4 to only 7.1 mos.
- Terrible year, terrible quarter. Down 19% in volume and 6% in price to $1.38mm. the 268 sales are the worst in 8 years. Condo sales are holding, up 33%, but average condo price is down 20% to $503,000. as inventory climbs 80%
- Good year, good momentum. Volume for the year is up 8% and momentum picked up this quarter: up 4%. Average price is $790,000, down 11%. Condo prices are down 17% to $334,000. Inventory is down 5%. This house at 31 Branch Brook pays $20,370 in taxes
, which is the median town-wide. The Wilton report
is here. Absorption fell from 12.8 to 11.8 months.
Have you considered South Norwalk?
Have you considered Wilton?