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Home » Market Trends

Market Trends

February 24th, 2016 | Higgins Group Real Estate

Market UpdatesHiggins Group Real Estate knows the value of keeping each client well-informed.

As real estate professionals, The Higgins Group knows the latest market trends. It also wishes to share this up-to-date market information with clients so that they can make smart, strategic decisions, whether they’re a buyer or seller.

One of the ways we do this is by creating monthly market update videos for each town in both counties of Fairfield and New Haven. Take a look at these videos here.

Fairfield County Market Update

The town of Fairfield led all municipalities in transaction volume during Q3 of 2015, as sales increased by 19% to 242 units (Stamford Advocate).

Sales for single family homes across Fairfield County increased by 12.2% compared to Q3 of 2014, and average sales price increased by 5.1%. Sales volume is up as well by 6.3% to $1,869,686,000, compared to $1,758,627,000 during Q3 of 2014.

The average price for condos in Fairfield County decreased by 7.2% to $355,400, along with days on the market, which dropped down from 125 to 122, a decrease of 0.1% compared to Q3 of 2014. Average rental prices dropped by 2.2% to $2,844.

For 2015, the average price per square foot for homes in Fairfield County was $315, an increase of 5.7%. The median sales price for homes during Q3 2015 was $487,000 based on 110 sales. Compared to Q3 2014, the median home sales price decreased by 5.4% to $28,000, and total number of sales decreased to 8.3%.

New Haven County Market Update

In New Haven County, the number of sales for single family homes increased by 21.1%, although the average price dropped to $264,600. Compared to Q3 of 2014, condo sales increased by 10.8% to 522 sales.

Single family homes stayed on the market for 129 days, a decrease of 1.3% compared to 2014. In the meantime,condominiums stayed for 136 days, an increase of 1.6%.

Rental prices increased by 71.6% year over year to $2,633.

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