Monday, November 12, 2018

Election Pause? The Engel Team's Market Report for Connecticut, November 2018

Westport, a little less expensive at $1.33mm, suffers a little bit less, volume down 9% in October and 2% for the year with prices down only 7% for the year. 
Wilton where the average house is still under $800k (and condos under $400k), is seeing prices rise 4% (and 13%) for the year despite inventory levels rising 14% (and 33%)
Rowayton sees inventory up 13%, prices and volume down. The median closing price fell 28% to $950,000 and the average condo is now only $316,000, down from $1.44 million.

Greenwich, Wilton, Westport, Darien and New Canaan Median Prices over 5 years
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Greenwich had a soft October, but annual volume, prices and inventory are consistent with last year, 419 now for sale and 268 sold. Old Greenwich is up both in October and for the year, reversing a 5-year decline in volume that declined from 96 to only 60 sales in the previous 5 years. Now, sales are back to 70.
Riverside is up in October, flat for the year, with fairly consistent volume for 8 years.
Cos Cob prices and volume are up for the year, not surprising where the average home is $1.62 million, over $600,000 less than prices in Riverside and Old Greenwich

Stamford and Norwalk Median Prices 
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Stamford and Norwalk are trending similarly.
Down for the month, but flat for the year. Stamford shows 2 years of consistent sales volume and prices for both houses & condos. Houses remain at $580k, condos at $348k
Norwalk shows average house prices holding at $613k while condos slip 6% to $280k despite a huge drop in inventory there of 34%
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Classic cape with barns & river views (call)
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Elegant awesome: 507 Silvermine $4.18mm
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Striking: 269 Dan's Highway $2.3mm
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The Engel Team 
John Engel, Susan Engel, Melissa Engel
And Stephanie Sullivan 
Licensed in Connecticut
183 Elm Street, New Canaan, CT 06840 
c: 203.858.0266 o: 203.966.7800 
view my listings
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