May 2024 Housing Update

May 2024 Market Update for Fairfield and New Haven Counties

On the Supply Side: We had a decrease in inventory of new homes for sale of 1.5% for Fairfield County and an increase in inventory of 24.3% for New Haven County.

Buyers Demand:   Both Fairfield County and New Haven market update were high with an average of 3% over asking for closed homes.

Market Activity: Homes in Fairfield County saw an increase in the average sale price of 4.0% compared to last month. Homes in New Haven County saw an increase in average sales price of 5.95% compared to last month.

Market Conditions: Overall, the remains robust with many homes receiving multiple offers and selling over the list price. Both counties experienced competitive real estate markets with rising prices, quick sales, and low inventory levels indicating strong buyer demand and limited housing supply.

Selling or Buying: Recognize that the real estate market is constantly changing. These updates provide valuable insights for both Fairfield County and New Haven County. It’s essential to stay informed through reliable sources. If you need further information, or have specific questions, are looking for the most accurate and up to date information for your home, feel free to ask!

If you don’t LOVE where you LIVE, let’s talk! It’s best to consult with a Professional Real Estate Agent.

Contact LeeAnn Today (203) 253-4567:  Ask for a NO obligation, COMPLIMENTARY conversation regarding your housing situation and everything you’ll need to know to achieve it.

Prepared By, LeeAnn DeLeo, Realtor-Broker Associate
Email: leeann.deleo@gmail.com
Cell: (203) 253-4567
FB/IG: RealtorLeeAnnD