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Stratford Market Report July 2021
Market Overview
Stratford saw a terrific month for real estate in June. The median sales price for single family homes was up over 11%, from $335,000 in May to $373,000 in June. That translates to a 13.89% increase in home values for the year. The number of houses sold also saw a huge increase over months past. 81 sold in June compared to 43 sold in May. Sellers are seeing the benefits of this market as new listings were also up. While it took longer to sell those houses, 31 days compared to 24 days last month, sellers were rewarded in most situations with above asking price offers. The % of list price to sales price was an impressive 106.1%. Stratford continues to be in a solid sellers-market, with just 2.1 months of supply. Inventory continues to be low, as in most surrounding towns. Buyers were clearly eager to buy in Stratford, and with interest rates still holding steady below 3%, they are locking in great rates. The 30 year fixed rate was 2.98% by the end of the month. Pending sales of 93 are pointing towards another strong month in July. For anyone considering a move, this is still a great time to sell a house in Fairfield. Do you know anyone looking for more information about their real estate market? I’d be happy to help.
12 Month Sales Activity
Housing Stats
(change from previous month)
| Median Sale Price: | $373,000 |
| change: | 11.34% |
| YTD change: | 13.89% |
| Units Sold: | 81 |
| change: | 88.37% |
| Active Listings: | 141 |
| change: | 2.17% |
| New Listings: | 96 |
| change: | 15.66% |
| Days on Market: | 31 |
| change: | 29.17% |
| Months of Supply: | 2.10 (Seller's Market) |
| change: | -4.55% |
Interest Rates
Market Temperature
Local Median Sales Price Trends
| May '21 | Jun '21 | Change | |
| Bethel | $390,000 | $515,000 | 32.05% |
| Bridgeport | $290,000 | $300,500 | 3.62% |
| Brookfield | $490,000 | $540,000 | 10.20% |
| Danbury | $410,000 | $447,500 | 9.15% |
| Easton | $852,000 | $889,450 | 4.40% |
| Fairfield | $767,500 | $765,000 | -0.33% |
| Milford | $428,000 | $432,500 | 1.05% |
| Monroe | $485,000 | $505,000 | 4.12% |
| Newtown | $540,000 | $572,500 | 6.02% |
| N. Haven | $350,000 | $342,500 | -2.14% |
| Orange | $470,000 | $461,500 | -1.81% |
| Oxford | $472,450 | $447,500 | -5.28% |
| Redding | $815,000 | $750,000 | -7.98% |
| Ridgefield | $722,500 | $757,500 | 4.84% |
| Seymour | $356,000 | $277,500 | -22.05% |
| Shelton | $463,750 | $419,900 | -9.46% |
| Stratford | $335,000 | $373,000 | 11.34% |
| Trumbull | $495,000 | $518,000 | 4.65% |
| Weston | $1,050,000 | $1,162,500 | 10.71% |
| Westport | $1,636,000 | $1,628,000 | -0.49% |
Tips
4 Reasons Downsizing Makes Sense
If you’re considering making a move to a smaller home, now may be a great time to list your property. Here’s why.
It’s a seller’s market. The real estate market is hot right now in most areas of the country. If you’ve been thinking about selling your current house and purchasing a smaller one, the timing is ideal to make your move.
Retirement is approaching. As you near retirement, it may make sense to reduce your monthly expenses and add those savings to your retirement nest egg. Downsizing your home means you’ll likely pay less in property taxes, insurance and mortgage payments.
Maintenance is reduced. A smaller home means less maintenance. If you have extra rooms you rarely use but still have to clean, heat and/or cool, it may be time to lessen the effort of maintaining a larger space.
You want to travel. If you’re hoping to spend more time visiting family or exploring the world, you’ll love the freedom of having less to take care of when you return home.
Remote Work: How To Hold Yourself Accountable
Working from home has its advantages, but it can also be filled with distractions. Try these tips to help you focus and hold yourself accountable when working remotely.
Set up a separate work space. Having a designated space for your home office can help you mentally separate your work and home life. Choose an area of your home that’s away from distractions such as kids, pets and household chores.
Establish tangible goals. Set daily, weekly and monthly goals for what you want to accomplish. Hold yourself accountable by writing down your tasks and crossing them off as you complete each one.
Follow a routine. Wake up at the same time each day and work a set number of hours. Try to complete work tasks during business hours and save personal and household tasks for when you’re off the clock.
Get dressed. While it can be tempting to stay in your pajamas all day, changing into “real clothes” sends a signal to your brain that it’s time to get to work.
Maintain communication. Check in regularly with your boss, coworkers and clients to ensure you’re supporting them with all necessary tasks. Follow up on in-progress projects and let everyone know if you have a change to your schedule or will be unavailable during a specific period of time.
Schedule your breaks. Instead of getting up from your desk any time a distraction pops up, schedule regular breaks by using a timer or calendar reminders. This can help you remain focused on the task in front of you while also allowing you time to eat lunch, take mental breaks or enjoy a quick walk.
Find an accountability partner. Find a coworker who is also working remotely, and share your routines, goals and to-do lists with each other. Check in periodically to see how you’re doing with following through on your intentions.
Real Estate Headlines
Housing Moving Past Pricing Peak, But Inventory Still Low: Nationwide, the rate of home price growth has started to slow, and the competition for homes may be showing some signs of easing somewhat. “The market’s topping out,” Mark Zandi, chief economist at Moody’s Analytics, told realtor.com®. It’s “starting to show cracks. It feels like we’ve hit the apex, and we’re moving to the other side of it.” But that doesn’t mean the housing market is heading for a bubble that is bound to burst. Mortgage lending has remained tight. Real estate economists have long said the current frenzy in the housing market is no housing bubble that is reminiscent of nearly a decade ago with the run-up in real estate. Some buyers are getting priced out of the market. There is also a severe shortage of homes for sale: Total housing inventory is down 42% year over year. Buyers still in the market may soon start to see less bidding wars and fewer offers that are way above the asking price. Regardless, economists are predicting an overall slowdown in prices and more moderation rather than any major downfall.
Plummeting Lumber Prices Little Help to Builders: The price of framing lumber has plunged about 50% over the last seven weeks, offering up a hopeful sign that skyrocketing building costs would ease. However, builders say that the prices they pay have only declined by a fraction of that percentage. The disconnect in pricing has always existed in the lumber supply chain. It can still be a “long lag time” before the full price reductions come to builders, the National Association of Home Builders reports. Meanwhile, new-home building prices for home buyers continue to rise. May’s price was 18% higher than last year.
The Home Improvement Boom Isn’t Letting Up Soon: Half of U.S. homeowners recently surveyed say they plan to spend more on home improvements in 2021 than they did last year. Many homeowners are using cash to complete these home renovation projects. kitchen and bathroom renovations tend to offer some of the highest returns on investment.
Top 7 Hot Spots for Undeveloped Land: Realtor.com® evaluated the 100 largest metros in the U.S. to find where land values have increased the most since the pandemic (comparing the first half of 2020 with the first half of 2021). The top 7 areas with % increase and price per sq. ft. of raw land are: North Port/Sarasota, FL (+92% / $2.52), Portland, OR (+72% / $9.17), Los Angeles, CA (+67% / $1.38), Boise City, ID (+52% / $3.06), Raleigh, NC. (+50% / $1.71), Syracuse, NY (+50% / $0.40), Spokane, WA (+47% / $0.43).
Upcoming Events
Connecticut’s event schedule is back this Summer, with outdoor concerts, plays, festivals, craft shows and more. So grab the family, hit the road and enjoy some of the area’s great fun filled events.
Sales Trends: January - June
June Single-Family Home Sales
(OLP: original list price • LP: list price • SP: sale price • DOM: days on market)
| Address | Style | sq ft | BR | BA (f/h) | OLP | LP | SP | SP/OLP | DOM |
| 75 Burbank Dr | Cape Cod | 1,403 | 3 | 1/0 | $329,000 | $314,900 | $315,000 | 96% | 10 |
| 40 E. Gate Ln | Ranch | 1,200 | 3 | 1/0 | $324,900 | $324,900 | $353,428 | 109% | 41 |
| 60 Del Dr | Ranch | 1,296 | 3 | 2/0 | $369,900 | $369,900 | $381,000 | 103% | 42 |
| 140 Stock St | Colonial | 1,634 | 3 | 1/1 | $394,500 | $394,500 | $415,000 | 105% | 24 |
| 310 Woodstock Ave | Colonial | 2,190 | 5 | 2/1 | $385,000 | $385,000 | $420,000 | 109% | 5 |
| 990 Cutspring Rd | Colonial | 1,456 | 3 | 1/1 | $425,000 | $425,000 | $425,000 | 100% | 13 |
| 1200 Cutspring Rd | Colonial | 2,170 | 4 | 2/0 | $419,000 | $419,000 | $425,000 | 101% | 2 |
| 1725 Cutspring Rd | Colonial | 2,468 | 3 | 2/1 | $429,900 | $429,900 | $430,000 | 100% | 52 |
| 310 Bunnyview Dr | Colonial | 1,528 | 3 | 1/1 | $395,000 | $395,000 | $435,000 | 110% | 6 |
| 230 Jackson Ave | Colonial | 2,355 | 4 | 2/0 | $399,900 | $439,900 | $450,000 | 113% | 55 |
| 400 Nutmeg Ln, Unit #400 | Colonial | 2,494 | 4 | 2/1 | $509,000 | $509,000 | $540,000 | 106% | 45 |
| 100 Karen Ave | Cape Cod | 1,183 | 3 | 1/0 | $249,000 | $249,000 | $280,000 | 112% | 6 |
| 16 Newtown Ave | Cape Cod | 1,667 | 3 | 1/0 | $292,900 | $292,900 | $325,000 | 111% | 39 |
| 475 Wilcoxson Ave | Colonial | 1,906 | 5 | 2/0 | $425,000 | $399,900 | $418,000 | 98% | 92 |
| 251 Crown St | Colonial | 1,846 | 4 | 3/0 | $439,900 | $439,900 | $455,000 | 103% | 9 |
| 87 Hazelwood Ter | Cape Cod | 1,244 | 3 | 1/0 | $290,000 | $290,000 | $300,000 | 103% | 8 |
| 477 Wakelee Ave | Cape Cod | 1,914 | 3 | 2/0 | $304,500 | $304,500 | $316,000 | 104% | 16 |
| 235 Ridge Rd | Colonial | 1,404 | 2 | 1/1 | $317,000 | $317,000 | $332,000 | 105% | 53 |
| 73 Summer St | Cape Cod | 1,443 | 3 | 2/0 | $375,000 | $375,000 | $400,000 | 107% | 28 |
| 125 Sheffield Cir | Ranch | 2,084 | 4 | 2/0 | $349,000 | $349,000 | $400,000 | 115% | 18 |
| 170 Peters Ln | Raised Ranch | 2,217 | 4 | 2/0 | $429,000 | $429,000 | $480,000 | 112% | 53 |
| 265 Hamilton Ave | Half Duplex | 1,110 | 3 | 1/1 | $240,000 | $240,000 | $246,000 | 103% | 19 |
| 30 Vielie St | Cape Cod | 1,279 | 3 | 1/0 | $289,900 | $289,900 | $303,000 | 105% | 62 |
| 180 Regency Ter | Ranch | 1,704 | 4 | 2/0 | $284,900 | $299,000 | $310,000 | 109% | 16 |
| 45 Clifflawn Rd | Colonial | 1,798 | 3 | 1/1 | $330,000 | $330,000 | $373,000 | 113% | 35 |
| 460 Pilgrim Ln | Colonial | 2,031 | 4 | 2/1 | $439,900 | $439,900 | $470,000 | 107% | 3 |
| 110 Diane Ter | Colonial | 2,553 | 3 | 1/1 | $489,000 | $489,000 | $485,000 | 99% | 31 |
| 230 Albright Ave | Cape Cod | 1,715 | 3 | 2/0 | $299,900 | $299,900 | $315,000 | 105% | 1 |
| 412 Windsor Ave | Colonial | 1,265 | 3 | 1/1 | $324,900 | $324,900 | $345,000 | 106% | 67 |
| 18 Martin Ter | Cape Cod, Colonial | 2,094 | 3 | 2/0 | $329,900 | $329,900 | $380,000 | 115% | 64 |
| 360 2nd Hill Ln | Ranch | 1,472 | 3 | 2/0 | $384,500 | $384,500 | $400,000 | 104% | 60 |
| 65 Morning Glory Ter | Colonial | 2,092 | 3 | 2/1 | $449,900 | $449,900 | $484,000 | 108% | 2 |
| 29 Lockwood Ave | Colonial | 1,144 | 3 | 1/0 | $239,900 | $239,900 | $265,000 | 110% | 40 |
| 55 Burbank Dr | Ranch | 1,215 | 3 | 1/0 | $309,000 | $309,000 | $335,000 | 108% | 7 |
| 540 California St | Cape Cod | 2,171 | 4 | 1/1 | $350,000 | $350,000 | $375,056 | 107% | 41 |
| 421 Allyndale Dr | Colonial | 2,225 | 3 | 1/1 | $399,783 | $399,783 | $425,000 | 106% | 32 |
| 970 Beaver Dam Rd | Colonial | 3,963 | 4 | 3/1 | $825,000 | $799,000 | $790,000 | 96% | 125 |
| 378 California St | Colonial | 1,188 | 3 | 2/0 | $299,900 | $299,900 | $305,000 | 102% | 27 |
| 261 Mount Pleasant Ave | Colonial | 2,070 | 3 | 2/0 | $349,900 | $349,900 | $350,000 | 100% | 58 |
| 80 McLeod Pl | Split Level | 1,156 | 3 | 2/0 | $239,900 | $239,900 | $260,500 | 109% | 66 |
| 170 Douglas St | Ranch | 2,400 | 3 | 1/1 | $339,000 | $339,000 | $350,000 | 103% | 47 |
| 28 Everett St | Colonial | 2,300 | 3 | 1/1 | $369,900 | $369,900 | $375,000 | 101% | 31 |
| 100 Claudia Dr | Cape Cod | 1,287 | 3 | 1/0 | $289,000 | $289,000 | $289,000 | 100% | 36 |
| 60 Hemlock St | Cape Cod | 1,114 | 3 | 1/0 | $359,900 | $359,900 | $310,000 | 86% | 46 |
| 131 Beers Pl | Colonial | 1,312 | 3 | 1/1 | $280,000 | $280,000 | $320,000 | 114% | 30 |
| 219 Plymouth St | Cape Cod | 1,353 | 2 | 1/1 | $289,900 | $289,900 | $351,000 | 121% | 12 |
| 84 Noble St | Cape Cod | 2,196 | 3 | 2/0 | $350,000 | $350,000 | $385,000 | 110% | 7 |
| 930 Beaver Dam Rd | Colonial | 4,520 | 4 | 2/1 | $699,000 | $649,000 | $650,000 | 93% | 8 |
| 181 Fairview Ave | Colonial | 1,253 | 3 | 1/1 | $265,000 | $265,000 | $305,000 | 115% | 4 |
| 249 Sherwood Pl | Colonial | 1,844 | 3 | 1/1 | $349,900 | $339,900 | $340,000 | 97% | 40 |
| 294 Marcroft St | Contemporary | 1,364 | 3 | 2/1 | $345,000 | $345,000 | $360,000 | 104% | 66 |
| 71 Castle Dr | Cape Cod | 1,599 | 4 | 1/1 | $349,999 | $349,999 | $370,000 | 106% | 73 |
| 250 3rd Ave | Colonial | 1,271 | 3 | 1/1 | $395,000 | $395,000 | $395,000 | 100% | 14 |
| 2010 Nichols Ave | Colonial | 2,290 | 4 | 2/1 | $389,900 | $389,900 | $425,000 | 109% | 62 |
| 38 Jesse Ave | Cape Cod | 1,205 | 3 | 1/0 | $249,000 | $255,000 | $258,000 | 104% | 86 |
| 956 Huntington Rd | Ranch | 1,077 | 2 | 1/0 | $279,900 | $279,900 | $290,000 | 104% | 10 |
| 45 Cedar St | Cape Cod | 1,587 | 3 | 2/0 | $389,900 | $389,900 | $377,500 | 97% | 66 |
| 760 Cutspring Rd | Cape Cod | 1,544 | 3 | 2/0 | $379,999 | $379,999 | $406,000 | 107% | 6 |
| 100 Wilbrook Rd | Ranch | 2,168 | 3 | 2/0 | $499,000 | $499,000 | $525,000 | 105% | 24 |
| 53 Ashwood Ter | Colonial | 2,824 | 4 | 2/1 | $539,000 | $539,000 | $575,000 | 107% | 63 |
| 251 Harding Ave | Ranch | 1,196 | 3 | 1/0 | $279,000 | $279,000 | $315,000 | 113% | 5 |
| 95 Ross Dr | Ranch | 1,597 | 3 | 2/0 | $310,000 | $310,000 | $341,000 | 110% | 63 |
| 81 Allencrest Dr | Cape Cod | 1,549 | 3 | 2/0 | $300,000 | $300,000 | $346,000 | 115% | 17 |
| 750 King St | Colonial | 1,800 | 4 | 1/1 | $365,000 | $365,000 | $357,000 | 98% | 48 |
| 172 Sultan St | Colonial | 1,358 | 3 | 1/1 | $350,000 | $350,000 | $375,000 | 107% | 6 |
| 105 Baxter St | Colonial | 2,064 | 4 | 2/1 | $579,900 | $577,400 | $577,400 | 100% | 136 |
| 239 Graham St | Cape Cod | 1,803 | 3 | 2/0 | $288,500 | $288,500 | $310,000 | 107% | 28 |
| 95 Patchen St | Ranch | 1,080 | 3 | 2/1 | $330,000 | $330,000 | $350,000 | 106% | 5 |
| 10 Glendale Rd | Cape Cod | 1,990 | 3 | 2/1 | $389,900 | $389,900 | $415,000 | 106% | 6 |
| 210 Grove St | Ranch | 1,396 | 4 | 2/0 | $379,000 | $339,900 | $340,000 | 90% | 17 |
| 327 Allyndale Dr | Cape Cod | 1,304 | 3 | 1/1 | $179,000 | $179,000 | $220,000 | 123% | 5 |
| 55 Warwick Ave | Colonial | 1,707 | 3 | 2/0 | $189,000 | $189,000 | $222,500 | 118% | 46 |
| 70 Freeman Ave | Colonial | 1,546 | 3 | 1/1 | $379,900 | $379,900 | $380,000 | 100% | 48 |
| 340 Prayer Spring Rd | Raised Ranch | 2,906 | 5 | 3/0 | $589,900 | $574,900 | $570,000 | 97% | 124 |
| 262 McGrath Ct | Half Duplex | 984 | 2 | 1/0 | $159,900 | $159,900 | $165,000 | 103% | 4 |
| 15 Torsey St | Colonial | 2,150 | 3 | 1/1 | $329,900 | $329,900 | $360,000 | 109% | 64 |
| 259 Light St | Cape Cod | 1,450 | 4 | 1/0 | $359,500 | $359,500 | $380,000 | 106% | 32 |
| 360 Nutmeg Ln | Colonial | 2,649 | 4 | 2/1 | $468,000 | $468,000 | $540,000 | 115% | 16 |
| 1991 Nichols Ave | Cape Cod | 1,186 | 3 | 2/0 | $269,900 | $269,900 | $302,000 | 112% | 4 |
| 6344 Main St | Colonial | 2,962 | 3 | 2/0 | $399,999 | $399,999 | $383,000 | 96% | 44 |
| 160 Founders Way | Colonial | 4,520 | 5 | 3/1 | $599,900 | $599,900 | $640,000 | 107% | 4 |
| Units Sold: 81 | $350,000 | $349,999 | $373,000 | 106% | 31 |
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