Health & Fitness
Beachfront Competition and an Update on the Westport and Fairfield Housing Markets
A post of some fun beachfront happenings and an update on Fairfield and Westport housing market statistics about price and inventory.
First off- please enjoy the pic' of a swimmer's demise at the teeth of a Land Shark! This was one of the sand sculptures in last weekend's beachfront competition at Penfield Beach titled, "Beach Bum". It appears that the Land Shark was the happy winner in this competition.
A look at the local Westport and Fairfield Connecticut housing markets shows some factors in favor of buyers and others in favor of sellers. The amount of supply is one element of importance. There has been reduced inventory of single family homes for sale in both towns this year so far. The number of homes for sale was down to six months worth of supply in Fairfield and nine months in Westport at the end of July. This is good for sellers, because there's less competition but not so great for buyers, because there is less to choose from.
Market time is another factor to be considered, and the days on market have been increasing lately in both towns. In Westport, the median market time was 142 in July compared to 117 last year.
Find out what's happening in Fairfieldwith free, real-time updates from Patch.
In Fairfield, median days were up to 113 from 99 the year prior.
The longer a home sits on the market, the less leverage the seller has, giving a stronger position to the buyer.
One parameter in the mix that works in favor of both buyers and sellers is the low interest rate environment. Now, the sellers' properties are affordable to a larger buyer pool, and the buying power is improved for everyone who wants to get into the purchasing game. All in favor of healthy Westport and Fairfield Connecticut housing market conditions raise your hand!
