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The housing market can't be judged as a whole by new construction. That's a niche in a very mature market where demand is greater than supply.
This is true. We're in the process of closing on new construction, in-town Westport. So the demand is even greater. Location + new construction hopefully will stay afloat. And if it doesn't we'll have a nice house to live in for 20+yrs walkable to downtown.
This is true. We're in the process of closing on new construction, in-town Westport. So the demand is even greater. Location + new construction hopefully will stay afloat. And if it doesn't we'll have a nice house to live in for 20+yrs walkable to downtown.
The high end in Westport is definitely suffering but I don’t see any towns between Greenwich to Fairfield really suffering long term. They are desirable suburbs of NYC with bargain tax rates. As someone previously mentioned, the market will balance itself out there, but lots of people are going to lose a lot of money before that happens.
That said, I cannot believe how much you can get for your money in Wilton, Weston, Ridgefield and Easton nowadays. 4000 square feet for under a million?!
What homes are decent in the 5s in WP? They're all tear downs.
NC is in a much worse situation.
I can't be bothered right now with attachements but you know the ones. 3 or four of them are cosmetics not really teardowns. One even looks turn key albeit small. Point being, they EXIST.
I can't be bothered right now with attachements but you know the ones. 3 or four of them are cosmetics not really teardowns. One even looks turn key albeit small. Point being, they EXIST.
True. There are quite a few homes in Westport in the 500s and under that are most definitely not tear downs. Many have had substantial price cuts.
That said, I cannot believe how much you can get for your money in Wilton, Weston, Ridgefield and Easton nowadays. 4000 square feet for under a million?!
I think Easton is doing pretty good. I am going to take the 2000 year data on here and current from Trulia to see. Well I wish my town was doing as well anyway. The rich folks of FFC seem to be doing OK.
.............................2000................. ...2019 August (Median Sales Price Trulia)
Easton...................$458,800..............$60 3,250 +32%
Ridgefield...............$401,200..............$62 5,000 +65% Wowie
Wilton....................$551,600..............$6 59,500 +19%
Weston..................$633,100..............$720 ,000 +14%
Trumbull................$260,200...............$38 9,950 +50% (I guess the "poor" folks of FFC had nowhere to go but up lol)
I would have never guessed the above. Especially my town going up % more than Easton, Wilton and Weston. I think it is because the younger generation and older people like me want to live near amenities (stores shopping etc). Frankly if someone gave me the equivalent house of mine if Easton, Wilton, Weston and Ridgefield I would not take it. I would feel isolated in all of those town and far from civilization. But if someone gave me a house like mine near/walkable to Main Street in Westport I would jump for joy!
I think Easton is doing pretty good. I am going to take the 2000 year data on here and current from Trulia to see. Well I wish my town was doing as well anyway. The rich folks of FFC seem to be doing OK.
.............................2000................. ...2019 August (Median Sales Price Trulia)
Easton...................$458,800..............$60 3,250 +32%
Ridgefield...............$401,200..............$62 5,000 +65% Wowie
Wilton....................$551,600..............$6 59,500 +19%
Weston..................$633,100..............$720 ,000 +14%
Trumbull................$260,200...............$38 9,950 +50% (I guess the "poor" folks of FFC had nowhere to go but up lol)
I would have never guessed the above. Especially my town going up % more than Easton, Wilton and Weston. I think it is because the younger generation and older people like me want to live near amenities (stores shopping etc). Frankly if someone gave me the equivalent house of mine if Easton, Wilton, Weston and Ridgefield I would not take it. I would feel isolated in all of those town and far from civilization. But if someone gave me a house like mine near/walkable to Main Street in Westport I would jump for joy!
The rate of inflation during that time period was 49%
So Trumbull barely beat inflation, Ridgefield increased nicely, and the others have gone down since 2000
Those numbers are skewed in a positive fashion again with all the new construction and flips that became popular in the oughts forward. If you go back to 2000, there was not as much new construction. Fairfield beach/ center as an example replaced many 250k capes back then with $1 million colonials.
As you may or may not know, the Fed cut interest rates, so hopefully that gives a spark to buyers as loan interest rates are so low! I think more people are re-financing now vs buying. 2.95% fixed is WOW. But I think even while buyers will have better rates, they'll still be in control of the market. Need more demand! where are the millennials?
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