The Engel Team: days on market

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

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

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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