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Tri-State

Fairfield County market improves, but luxury market sees ‘continued weakness’

<em>(Credit: Kenneth C. Zirkel)</em>
(Credit: Kenneth C. Zirkel)

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Median sales prices in Fairfield County finally increased in the fourth quarter of 2019 — after “four straight quarters of declines,” according to Douglas Elliman Real Estate’s Q4 2019 sales market report. In Greenwich, specifically, the median sales price for single-family homes increased by 13 percent — to $1.695 million — year-over-year, but the number of sales dropped by 12 percent year-over year, to 117. The median sales price in Fairfield County’s luxury market, meanwhile, saw a year-over-year decline “for the eighth straight quarter,” the report noted. “Overall market trends are improving in Connecticut, though we saw continued weakness in the luxury market in both Fairfield County and Greenwich,” Miller Samuel Inc.’s Jonathan Miller, who authored the report, said in a statement. [Douglas Elliman]

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Douglas Elliman