September’s Real Estate Market

September’s Real Estate Market

September’s Real Estate Market updates for both Fairfield and New Haven Counties. Whether you’re buying or selling, understanding our local market is key and that’s where I come in. With hands-on experience as a homeowner, investor, landlord, builder, and mortgage loan officer, I bring a well-rounded perspective to every transaction. I offer clear guidance, honest insight, and a commitment to making your journey smooth from start to finish. Let’s work together to make your next real estate chapter a successful one. I’m ready when you are, there’s no place like home!

Real Estate & the Economy

Slower Growth, Selling Prices Rose
Economic activity declined slightly as tariff-related uncertainty continued to weigh on businesses. Employment in the region was mostly unchanged, and wage growth remained modest. Selling prices rose at a moderate pace, marking some acceleration since the previous reporting period, and input prices rose strongly for September.

What Fed’s Beige Book is Saying
Most Federal Reserve Districts reported steady economic activity in September, with several seeing modest growth. Businesses continued to adapt retail and hospitality offered great promotions to keep demand strong, while auto sales and repair services remained steady. Manufacturers leaned into local supply chains and automation to boost efficiency. Despite uncertainty, resilience and innovation remain strong across the economy. The next Federal Reserve meeting is October 28/29.

Labor Markets
The Beige Book reported little overall change in employment. Many firms paused hiring due to softer demand and uncertainty, with some districts noting layoffs or smaller teams through attrition and automation, including AI tools. More people are seeking jobs, though several districts pointed to fewer available immigrant workers especially affecting construction in September.

What Does This Mean
Despite slower growth, home prices are climbing moderately.  There was a significant growth in new listings for both Fairfield and New Haven Counties. Sellers may benefit from this short-term pricing strength but should be strategic and the buyer’s price sensitive.

The Good News on Mortgage Rates
The average rate on the 30-year fixed mortgage dropped 12 basis points from Monday to 6.13%, according to Mortgage News Daily on September 17^th following the Fed’s Meeting. That is the lowest level since late 2022.

Average Sales Price and Inventory
In Fairfield County The average sale price for single-family homes and condos is up 15% compared to this time last year. New listings rose 4% for single-family homes and 15% for condos bringing fresh inventory to the fall market. In New Haven County Single-family home prices climbed just over 2%, while condo prices dipped by 6% year-over-year. New home sale listings increased by 3% for single-family homes and 6% for condos, offering more options for buyers.

What This Means for Sellers
For sellers it means that Fairfield County homeowners are in a strong position with rising prices and the increase in inventory suggests we are seeing more motivated sellers. New Haven County sellers may need to be more strategic, especially with condos. Pricing and presentation will be key to standing out in a shifting segment.

What This Means for Buyers
Buyers in Fairfield County should expect competition and higher price tags especially for move-in-ready homes and updated condos. In New Haven County buyers may find more breathing room, particularly in the condo market. Increased listings mean more choices and potential negotiating power.

Overall
Septembers Real Estate Market update shows both counties remain extremely active, each market is evolving in its own way. Staying informed helps sellers and buyers navigate with confidence.

If Fairfield feels out of reach, New Haven County offers more accessible options, with average sale prices just over $500K and entry points in the low $400Ks. Located just 30 miles apart and connected by I-95, both counties offer a range of lifestyles from coastal towns to countryside communities with quick commutes to New York City and Hartford.

Your Neighborhood Market Trends
Keep up with your Neighborhoods Market Trends. Sign up at neighborhood news  to get the most current real estate market inside scoop. Get updates for the community you love.

Don’t LOVE Where You Live?
If you don’t love where you live? Let’s Talk! When only the best will do, consult a Professional REALTOR® like me. I specialize in helping sellers, buyers, seniors, relocation, landlords and up or down sizers.

Selling or Buying – Contact LeeAnn Today (203) 253-4567 Request a complimentary NO obligation consultation. Consider recommending a friend or family member. I’ve assisted 100’s of sellers and buyers achieve their real estate goals. I can help you too! I am committed to treating you as part of the family.

Raise your standards! Your real estate goal is a journey filled with significant financial decisions and personal choices. It’s essential to partner with an experienced REALTOR® like me.

Compliments of LeeAnn DeLeo, A Trusted Name in Real Estate
Broker, Blogger, Stagent® & REALTOR®
Century21 AllPoints Realty
(203) 253-4567
leeann.deleo@gmail.com
www.leeanndeleo.com

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Source: SmartMLS, Federal Reserve, Mortgage News Daily, US Economy, MSN, BankRate, MBA – The information provided herein is for informational purposes only. All real estate, economic data, market trends and projections are subject to change.