Fairfield County, CT Market Update - January 2025

It has been quite the cold winter already, and with snow continuing to fall, we’re seeing the effects of seasonality in the real estate market—something more typical of a traditional market cycle. Buyer activity has slowed slightly, as expected during the
winter months, but serious buyers are still out there, taking advantage of new inventory as it hits the market. Let’s dive into what this means for both buyers and sellers this season!

The start of 2025 is shaping up to be a reflection of last year, with a slow start in new homes hitting the market. Some sellers are waiting for the weather to improve before listing, while others remain reluctant to move, comfortably sitting on a 3% mortgage rate. Meanwhile, buyers are still actively searching, creating a continued imbalance between supply and demand—keeping competition high and median home prices are on the rise across Fairfield County (year over year average):

📈 Fairfield: Up 8.8%
📈 Westport: Up 1.8%
📈 Weston: Up 9.3%
📈 Wilton: Up 13.9%
📈 Easton: Up 12.3%
📈 Trumbull: Up 10.5%

With so few homes on the market, demand remains strong, and well-priced, move-in- ready homes are selling quickly. The limited number of sellers willing to list is keeping inventory low, making it an opportune time for those who are ready to make a move. Inventory remains lower than last January in most towns, with the exception of Fairfield and Wilton. Both towns experienced a slight increase in inventory in January, but by the first week of February, that additional supply had already been absorbed by buyers.

📈 Fairfield: Up 1.3%
📉 Westport: Down -18.0%
📉 Weston: Down -8.3%
📈 Wilton: Up 15.2%
📉 Easton: Down -22.7%
📉 Trumbull: Down -5.7%

A Return to Seasonality

Unlike the past few years, we’re seeing a more traditional real estate cycle. This winter has been colder than usual, and the lingering snow is delaying many homeowners from preparing their homes for sale. While we expect more homes to hit the market as the weather warms up, the reality is that demand will likely continue to outpace supply.

Interest Rates: The New Normal

While interest rates will remain uncertain throughout 2025, buyers are no longer sitting on the sidelines waiting for a drastic drop. We have now been in the 6% range for two years, and buyers have adjusted to this as the new normal. This has not stopped demand—what really matters is how interest rates impact your monthly mortgage payment and overall affordability. If you’re thinking about buying this year, understanding your budget and loan options now will put you in the best position when the right home becomes available.

What This Means for You

Sellers: Whether you're actively considering selling or just curious about your home’s value, now is a great time to get an updated market analysis. Prices continue to rise, and inventory remains low, giving sellers a strong advantage. Even if you’re unsure about listing, knowing your home’s worth in this market can help you plan ahead. If you do decide to sell, proper pricing and preparation will help you maximize your return.

Buyers: If you're serious about purchasing, being prepared is crucial. Homes are moving quickly, and competition remains high. Here’s how to get ahead:

✔️ Get pre-approved: Before you start house hunting, work with a lender to
understand what you can afford. Having a pre-approval in hand makes your offer stronger and shows sellers you’re serious.
✔️ Be ready to act fast: The best homes are selling quickly, and hesitation could mean missing out.
✔️ Understand your numbers: Work with a trusted real estate professional to fully understand how mortgage rates impact your monthly payment and overall budget.

The market is always evolving, but one thing remains the same—those who plan ahead and act strategically will find success. If you’re thinking about buying or selling this spring, let’s connect to discuss your options and the best approach for your goals.

Call today for your consultation!

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