Happy February! The month of love! Hopefully those dreary days of January are behind us and we can jump right in with sunny hope that Spring is on its way eventually! I love February because by now we've settled in to the New Year, we get to celebrate love and then we can get away for a much needed winter break during President's Week with the family! It's already off to a great start with Punxsutawney Phil bringing us good news of an early spring. Also, this year is a Leap Year. I always try to make the 29th of February special. I look at it like we get the gift of an extra day so I try to spend it doing something extra. Extra productive or extra fun or extra creative.....whatever the day brings I really try to make it extraordinary!
The real estate market seems to be gearing up for spring now that the sun has finally reappeared. Now is a great time to contact me if you are thinking of buying or selling this spring. I have a feeling we will have a robust market this season, so call me now so we can get a good head start! Start right now by scanning the QR code below to see how much you home is worth.
Market Watch
4 Ferry Lane E.
6 BD | 6.5 BA| 6700 SF
15 Burr Famrs Road
6 BD |6.5 BA | 9000 SF
4 Lyndale Park
4 BD | 3.5 BA |4258 SF
12 Merry Lane
Private Listing - Not on MLS
45 Clapboard Hill Rd
7 BD | 6/4 BA | 12,000 SF
2.19 Acres | Spectacular Park-like Property
10 Sunset Dr., Weston
4 BD | 3 BA | 2720 SF
3 Stonybrook Road
5BD |5.1BA | 5565SF
11 Marvin St., Norwalk
3BD | 1.5BA | 2156 SF
2 Heron Lake Lane, Westport
5 BD, 4/2 BA, 4330 SF 2.5 acres
5 Windrush Lane
MULTIPLE OVER-ASK OFFERS
5 BD, 5/1 BA, 5424 SF
14 Yew Street
Norwalk
154 Pratt Street, Fairfield
Fairfield Beach
23 Steep Hill Road, Weston
5 BD, 4/1 BA 4278SF
55 Clinton Avenue
Coming Soon.......
We have even more exciting new listings on the way! Go to jillianklaffhomes.com and check our listings tab on our website for updates and details.
Market Stats
WHERE THE BUYERS CAME FROM IN 2023
Market Trends
We are still in a seller’s market as seen above. The real estate metrics being discussed provides valuable insights to both buyers and sellers, to help them make informed decisions in this dynamic market.
“Months Supply of Inventory”
This currently stands at 2.76. This metric measures the number of months it would take to sell all the available homes on the market, given the current sales pace. This lower value indicates a seller’s market where demand exceeds supply.
“12-Month Change in Months of inventory”
This has experienced a decline in almost 11%. This signifies a significant reduction in the number of months it would take to sell all the available homes compared to the previous year. This suggests a tightening market with increasing demand and potentially rising prices.
The “Median Days Homes are on the Market” stands at 68. This metric measures the average number of days it takes for a home to sell. This lower number indicates a faster -paced market where homes are in high demand , and buyers must act swiftly to secure a property.
“List to Sold Price Percentage”
This sits at an impressive 100% but it is lower than the last three months. This metric reveals the percentage at which homes are selling compared to their initial listing price. A higher value indicates strong negotiation power for sellers, as they are able to secure the full listing price.
Lastly we have the “Median Sold Price”, which currently stands at a remarkable $1,775,000. This metric represents the middle point of all the the sale prices in a given area (i.e. Westport). It showcases the price point at which half of the homes sold for more and half sold for less. This figure show how strong the market is and the value placed on homes in the area.
The metrics discussed above show a consistent trend of a tight market with high demand .The low “Months Supply Of Inventory” and the declining “12-month Change in Months of Inventory” indicates a limited supply of homes compared to the growing demand This scarcity of inventory is reflected in the relatively short” Median Days Homes are on the Market” Furthermore, the “List to Sold Percentage” of 100% suggests that sellers have the upper hand in negotiations, as they are able to command full price offers for their properties. This, in turn, contributes to the impressive “Median Sold Price” of $1,775,000.
In conclusion, these real estate metrics reveal market that strongly favors sellers, with limited inventory, high demand and rising prices. Buyers should be prepared to act quickly and make competitive offers, while sellers can expect to achieve their desired prices in a relatively short time frame.
Final Thoughts
I am very pleased to announce that Coldwell Banker has announced that I am among the Top 2% of Coldwell Banker agents globally for my 2023 real estate production. This is a huge honor for me and I am proud to have reached this status through last year's very unpredictable real estate market. I love working with my clients and colleagues and I thank them and my friends and family for helping me achieve this recognition.
I hope you have a very special Valentine's Day this year. It's a great time to show the ones you love how much you care. But, it's also a great time to show how much you love yourself. I hope you can take time to appreciate how unique and special each and every one of you are. It's the perfect day to give yourself a gift of love and get cozy with a warm cup of coffee and a great book, or have a full-on spa and self-care/pamper day, or go for a long walk at the beach.....whatever makes you feel best! Don't forget that sometimes you need to put yourself first and take care of you, so that you will be in your best form to take care of everyone else.
I find lots of way to indulge in self-care and find interesting things to do around Town by reading the monthly Westport Lifestyle Magazine. It has a lot of appealing articles and also great tips and ideas throughout. You can check out my ads on the inside back cover!
I am sending you lots of Valentine's love and also wishing safe travels for those of you leaving on February Break. Have a great month and don't forget to do something extra special on our extra day!
I am available to you around the clock to help with any and all of your real estate needs. I value excellent service and efficiency in meeting my client's every need. Call, text or email me today! I have the real hard facts for really smart moves!
Happy Valentines Day!
Jillian Klaff Online Resources
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JILLIAN KLAFF | TOP PRODUCER CB GLOBAL LUXURY
203-858.2095 - [email protected] - jillianklaffhomes.com
