Outlier properties are skewing the data for Fairfield County over the past few years. A single $85M transaction in 2023 pushed the annual average of top sales from $14M to $21M that year. 2024, in contrast, is modest: sales prices sat at $11M, which is roughly within the long-run trend.
Outlier transactions skew the results in Fairfield County
Average sales prices in 2024 are $10.8M, within long-term trend lines
After years of gridlock, properties in 2024 averaged 375 DOM
Fairfield market dynamics follow typical East Coast patterns
With an average sales price growth of 43% since we started tracking in 2017, Fairfield follows patterns seen across East Coast markets. 2022 saw a drawdown, along with wider economic unrest and uncertainty. In 2023, the upward trend continued and in 2024 prices cooled down again.
Time will tell if this represents a temporal adjustment or a more fundamental shift. With an average of 375 Days On Market (DOM), Fairfield is moving faster, but be warned: even in 2024, some properties took upwards of a staggering 1,000 days to sell, and at significant markdowns to initial listing prices. A property in Westport was finally sold last year after 1,368 days and for 20% less than the initial listing price.
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