Fairfield County Spring Real Estate Market (Norwalk, Greenwich: closing, tax rates, to live in)
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No problem. With all the doom and gloom you see in the media about Connecticut, it is hard to believe what the real facts are. The market in Fairfield is about the same as last year which is good but not great. It is true those large secluded homes on large lots aren’t commanding the super high prices they once were. But that is due to changing tastes of buyers. I do kind of believe that may change when young buyers realize they aren’t walking to the places they thought they would and that they are kind of too close to their neighbors some of whom they don’t like. Will see. Jay
If you bought a house in Weston between 2003 and 2007, you are in really, really bad shape. Yes, doom and gloom. The "top rated" school district in CT is a bargain. And you don't have to go way out in the woods to get that bargain. It's kind of hard to comprehend.
Talking to a realtor he said there is more inventory now vs last yr and thinks there is a 5-7yr correction coming again for lower Fairfield. I find that hard to believe with the way they just cut interest rates again and how low they are. We'll see I guess.
He said that prices came up in 2018 but has not been sustainable in 2019. Not good.
The market was in better shape last yr he said.
He thinks that once prices in New Canaan, Darien, Westport come down more (which have been already down the past three years), those people looking in other areas of Fairfield will be able to afford those "wealthy" towns on the higher ends, which will leave more property on market elsewhere..
Talking to a realtor he said there is more inventory now vs last yr and thinks there is a 5-7yr correction coming again for lower Fairfield. I find that hard to believe with the way they just cut interest rates again and how low they are. We'll see I guess.
He said that prices came up in 2018 but has not been sustainable in 2019. Not good.
The market was in better shape last yr he said.
He thinks that once prices in New Canaan, Darien, Westport come down more (which have been already down the past three years), those people looking in other areas of Fairfield will be able to afford those "wealthy" towns on the higher ends, which will leave more property on market elsewhere..
It's amazing that there are fairly decent homes available in New Canaan and Darien now in the 6's and 7's, and in the 5's in Westport. ABSOLUTELY AMAZING. If we weren't leaving in 2023, I'd be very tempted to pull the trigger on something here in town.
It's amazing that there are fairly decent homes available in New Canaan and Darien now in the 6's and 7's, and in the 5's in Westport. ABSOLUTELY AMAZING. If we weren't leaving in 2023, I'd be very tempted to pull the trigger on something here in town.
What homes are decent in the 5s in WP? They're all tear downs.
NC is in a much worse situation.
That's the bullseye for McMansion. General generic/awful/templated architecture, and fake fancy.
I couldn't agree more. The recent years new construction with all those crazy roof lines, nooks and crannies, 7 or 8 doghouse dormers, garish trim that just collect moisture and need constant maintenance are falling out of favor. Today's newer construction is the white/grey modern simple clean lines.
I couldn't agree more. The recent years new construction with all those crazy roof lines, nooks and crannies, 7 or 8 doghouse dormers, garish trim that just collect moisture and need constant maintenance are falling out of favor. Today's newer construction is the white/grey modern simple clean lines.
It's amazing that there are fairly decent homes available in New Canaan and Darien now in the 6's and 7's, and in the 5's in Westport. ABSOLUTELY AMAZING. If we weren't leaving in 2023, I'd be very tempted to pull the trigger on something here in town.
Yup, and that will saturate the market at the lower prices. Not good. Also, there are signals of another recession coming (look at the yield inversion) but by the time it's considered a recession we'll have to be in one. Similar to being in a drought. Hard to say when until we are.
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