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Health & Fitness

REAL ESTATE STATS - Wilton and Fairfield County

The picture above supports the ongoing trend of an improving real estate market.  Though some initially felt my monthly numbers were too small to be of significance, we now have six months of growth in both Wilton and throughout Fairfield County. 

I like to look at square foot prices because it screens out the extraordinarily high or low sale, but average and median sale prices are up about the same percentage in each case so this trend is real.

Will the recent uptick in mortgage rates affect sales?  Will our still sluggish economy slow home sales?  No one can say for sure, but with an accommodative Federal Reserve and rates that are still near historic lows I do feel that we can be optimistic that the second half of the year should continue strong.  

Though the natural slowdown in real estate sales through the summer months is now evident, new listings that are "realistically" priced are still attracting multiple bids  (No.  I can't easily define "realistically" - but I know it when I see it!)

Inventory is down as you can see from the statistics, but truly salable inventory is down even more as many of the homes that are on the market have been on for too long as some sellers have yet to adjust to today's pricing environment and are simply using hope as a strategy.

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