How’s The Market? November 2020

Dear Friends,

After an early-pandemic dip, the housing market has set records this year. Industry experts say this trend will continue into 2021 because unlike other boom times, this surge is based on changing trends in housing needs, rather than purely on market conditions.

Realogy, the nation’s largest real estate holding company, and our parent company, reported a record-breaking increase in sales of 28 percent last quarter, while open transactions volume — when contracts are signed but homes haven’t closed yet — were up 55 percent in October.

Realogy CEO, Ryan Schneider says “consumers are flocking to the suburbs in order to find houses that better meet their needs as they work from home:….and to locate “attractive tax and weather geographies” (which means more second home purchases).

And according to our Coldwell Banker CEO, Ryan Gorman, “a family might have chosen to relocate for more space, or office workers might have decamped to their dream cities because they don’t have to show up in person any more. In other cases, families might have combined households…by welcoming a grandparent or other relative into the home.”

In other words, these are game changers causing our market shift, so it ‘ain’t just about the rates,’ although admittedly, fixed rates of under 3% sure can’t hurt. And while no one can predict the future, in these uncertain times, the National Association of Realtors is also forecasting this hot market, with high demand and short supply will continue into 2021..

Take a look at the latest data by clicking the link below and while you’re at it, please have a look at the fresh, modern spaces in this newly listed walk-to-town 4-bedroom Westport home below, a sneak peek at a fine estate on 20+ scenic acres in lower Easton, and a picturesque Westport colonial within walking distance to train. Also, below — a few words to the wise from our esteemed JH team member, Yvette Rose.

Wishing you and yours a very happy and healthy Thanksgiving.

All the best,

Joni

Some

Seriously Good Numbers !

Click on the image for more Fairfield County towns and detailed market reports!

Newly Listed/Pending

State-of-the-Art New Construction in Old Hill

5 Cooper Lane, Westport

$4 Million

Just Listed

4-BR Walk-To-Town Contempo

6 Peaceful Lane, Westport

$1.195 Million

SPOTLIGHT ON:

YVETTE ROSE,

VALUED TEAM MEMBER & WESTPORT, WESTON & STAMFORD AFICIONADO

For over 20 years, Yvette has dedicated herself to effectively guiding buyers and sellers through often complex and potentially stressful real estate transactions across all price ranges. Yvette joined the JH Group in 2017.

An award-winning realtor, Yvette has earned widespread praise for demonstrating the highest degree of integrity and commitment, and has been repeatedly praised as “an invaluable asset and advocate” to buyers and sellers alike.

A long-time Westport resident, Yvette has a wealth of LOCAL knowledge, so we asked her to share a few of her hometown favorites with us.

What’s your favorite meal/restaurant in Westport and why?

My family and I always enjoy Tarantino for dinner. The pasta is fresh, the menu is varied and the staff makes every guest feel special. For breakfast or lunch, my favorite place is The Granola Bar. I highly recommend the Blackened Salmon Wrap!

Do you have a favorite, local

‘go-to’ shop?

I’m a confirmed chocoholic so I love Le Rouge Chocolates by Aarti on Main Street in Westport. The chocolates are works of art– and delicious.

Seeing that we are heading into winter, any recommendations for what to do locally?

I enjoy taking walks with my dog at Compo Beach or hiking one of the many trails in the area. The Newman Poses Preserve in Westport and Trout Brook Valley Preserve in Weston are among my favorites. When my kids were younger, we took advantage of the ice-skating rink at Longshore . If I’m looking for an indoor winter activity, I enjoy a hot yoga class at one of Kaia Yoga’s many Fairfield County locations.

What else do you want people to know about Westport?

I love the natural beauty of this town. Compo Beach and Sherwood Island (which is Connecticut’s first state park) are four-season treasures. I also love the variety of activities available to residents: lectures and classes at the Westport Library, plays and readings at the Westport Community Theater and Westport Country Playhouse, workshops and events at Wakeman Town Farm, concerts at the Levitt Pavilion, and outdoor sports such as golf, tennis, swimming, sailing and kayaking at Longshore. Some of these were limited or postponed this year but virtual programs and new options, such as the Remarkable Drive-In , helped residents stay engaged yet socially-distanced during this challenging time.

Yvette, So happy to have you on the

JONIHOMES TEAM!

*COMING SOON*

COUNTRY COMPOUND WITH POOL, LIGHTED TENNIS COURT, RECORDING STUDIO/PROFESSIONAL OFFICE, AND LARGE GUEST COTTAGE IN LOWER EASTON

$1.995 MILLION

PICTURESQUE 5-BR WESTPORT COLONIAL ON WALK TO TRAIN GREENS FARMS CUL DE SAC WITH POSSIBLE POOL SITE

$1.3 MILLION

Whether you are in exploration stage, ready to

buy or sell, or if you’re just a little curious…

Feel free to reach out:

Joni Usdan

203.216.7654

[email protected]

Gail Lilley Zawacki

203.856.9949

[email protected]

Yvette Rose

203.856.0090

[email protected]

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How’s The Market? November 2020