Happy January! With few exceptions, last year brought lower sale prices and higher number of days on market over all, with lower sale to list price averages. (I am proud to report JoniHomes list to sale price averages on listings were 96% in 2018, beating the Westport average by almost 4%.)
There were also patches of lower inventory in many towns around Fairfield County, similar to the rest of the USA. For example, Weston had 50% fewer homes on the market than the year before!
It stands to reason — folks that don’t have to sell are taking their homes off the market, or holding off on launching in the first place. This actually helps our absorption rate a lot, because if only serious sellers are on the market, we have greater efficiency and greater effectiveness in the marketplace.
Lots of opportunities out there for buyers with the best shot at a good interest rate for the foreseeable future. Lots of interest from first timers planning on a Spring purchase…We’re off to a good start.
For more detailed information and a preview of a great new listing, see below.
Best wishes for a healthy and happy and abundant 2019!