What’s the latest score in Fairfield County real estate?
We’re here to keep you up to date with the latest data and market trends in the Fairfield County scene.
Home sales
Single-family homes dominate the sales in Fairfield County real estate as figures increased by 12.2% year over year for the third quarter of 2015.
Home sales isn’t the only thing that increased – the average sales price and sales volume in Fairfield County went up as well. For the third quarter of 2015, the average sales price increased by 5.1%, while the sales volume jumped to $1,869,686,000, which indicates a 6.3% percent compared to the figures from the third quarter of 2014.
Not everything went up, however, as condominium average price and average rental prices slid down a few notches – a great sign for home buyers who are interested in purchasing a condo unit or those who are considering renting instead of buying.
The average price of a condominium unit in Fairfield County was $355,400, which decreased by 7.2%.
For the third quarter of 2015, rental prices across the US averaged $2,844, which reflects a 2.2% decrease. Meanwhile, the average days on market in Fairfield County decreased by 0.1% (122 for Q3 2015 as compared to 125 for Q3 2014).
Other updates
Population
The population in Fairfield County grew to 918,892, an increase of 4.1% since 2000. The median age of residents is 39.5, while the average household size is 2.7. According to BestPlaces.net, 54.2% of Fairfield County’s population is composed of couples.
Cost of living
Living in Fairfield County is comparatively more expensive than in other places in the country. The cost of living in the Fairfield is 54.80% higher than the national average.
Economy
Although the unemployment rate in Fairfield County is 6%, recent data show that there’s been positive job growth in the area. Jobs increased by 1.51 percent, and is expected to continue to rise as the area’s business community grows.
Don’t hesitate to contact us for more information about Fairfield County real estate. Our various contact numbers can be found at the bottom of the webpage.
