November proved to be another strong month the Stratford real estate market. The median sales price rose slightly to $322,000, up nearly 27% since January. Compared to November 2019, the median sales price has increased by $85,000. The number of house sold also increased in November, by 5.68%. Stratford is experiencing a strong seller’s-market, with just 2.4 months of supply. 6 months of supply is considered a balanced market between buyers and sellers. Inventory remains low, as the number of active listings dropped from 170 to 149, and the number of new listings dropped from 82 last months to just 42 in November. Buyers are looking for homes in Stratford. They are selling fast, at 37 days, and for full asking price (the % of list price to sold price has been at or above 100% for the 7 of the past 8 months). Due to strong buyer demand low interest rates, home sales are predicted to be strong into 2021. The 30 year fixed rate set another record at 2.71% by the end of November. This is still a great time to sell a home, and with low interest rates, a good time to buy. 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: | $322,000 |
| change: | 0.78% |
| YTD change: | 26.77% |
| Units Sold: | 93 |
| change: | 5.68% |
| Active Listings: | 149 |
| change: | -12.35% |
| New Listings: | 56 |
| change: | -31.71% |
| Days on Market: | 37 |
| change: | 8.82% |
| Months of Supply: | 2.40 (Seller's Market) |
| change: | -22.58% |
Economic News:
Stock Market: November saw all three major US markets rise sharply, as investors were encouraged with the news of two coronavirus vaccines showing favorable trial results, even while new cases continued to rise. The NASDEQ was up11.9%, S&P 500 up 10.75% and the Dow Jones was up 11.84%.
Employment: Employment rose by 245,000 jobs in November, and the unemployment rate lowered slightly to 6.7%, according to the U.S. Bureau of Labor Statistics. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In November, notable job gains occurred in transportation and warehousing, professional and business services, and health care, while employment declined in government and retail trade.
Real Estate: According to realtor.com’s 2021 housing forcast, the current seller’s market is likely to continue. Low inventory and interest rates combined with strong buyer competition will continue to drive prices upwards. Buyers will suffer from low inventory, as higher prices will erase gains ofset by low interest rates, challenging affordability.
2020 Local Real Estate Price Trends:
November was another great month for home sales prices. Year-to-date median sales prices continued to be on the rise for most local towns when compared to 2019’s first 11 months. All towns show increases in median sales price, with many over 10%.
| 1/19-11/19 | 1/20-11/20 | Change | |
| Bethel | $345,000 | $386,550 | 12.04% |
| Bridgeport | $204,000 | $240,000 | 17.65% |
| Easton | $562,500 | $579,000 | 2.93% |
| Fairfield | $580,000 | $665,000 | 14.66% |
| Milford | $305,000 | $350,000 | 14.75% |
| Monroe | $362,500 | $412,500 | 13.79% |
| Newtown | $380,100 | $430,000 | 13.13% |
| Norwalk | $485,128 | $535,000 | 10.28% |
| Orange | $375,000 | $385,500 | 2.80% |
| Redding | $527,000 | $560,500 | 6.36% |
| Ridgefield | $628,250 | $699,000 | 11.26% |
| Shelton | $339,000 | $377,000 | 11.21% |
| Stratford | $250,000 | $291,000 | 16.40% |
| Trumbull | $385,000 | $430,000 | 11.69% |
| Weston | $685,000 | $805,000 | 17.52% |
| Westport | $1,142,857 | $1,341,000 | 17.34% |
| Wilton | $697,500 | $800,500 | 14.77% |
Improvements for First Time Homeowners:
Prices For Fences On The Rise:
With the pandemic, homeowners are seeking more privacy and security. The demand for fences has driven up prices. Since the begining of 2020, the price for pressure treated wood as more than doubled.
Stratford Sales Trends: January-November
November 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 |
| 575 Woodend Rd | Ranch | 1,840 | 3 | 1/0 | $249,000 | $249,000 | $257,000 | 103% | 62 |
| 39 Winfield Dr | Cape Cod | 1,272 | 3 | 1/0 | $274,000 | $274,000 | $275,000 | 100% | 29 |
| 164 Winfield Dr | Cape Cod | 1,384 | 3 | 2/0 | $289,900 | $289,900 | $291,000 | 100% | 148 |
| 6 Vielie St | Cape Cod | 2,171 | 3 | 2/0 | $315,000 | $315,000 | $322,000 | 102% | 1 |
| 155 Peace Acre Ln | Ranch | 2,022 | 2 | 2/0 | $389,900 | $389,900 | $392,000 | 101% | 56 |
| 65 Nicki Laine Cir | Colonial | 3,190 | 3 | 2/1 | $459,000 | $459,000 | $459,000 | 100% | 102 |
| 1 Oakview Dr | Colonial, Tudor | 3,854 | 4 | 2/2 | $525,000 | $525,000 | $520,000 | 99% | 48 |
| 255 Bayview Blvd | Cape Cod, Colonial | 5,239 | 4 | 5/1 | $2,390,000 | $2,390,000 | $2,100,000 | 88% | 113 |
| 210 Glenfield Ave | Cape Cod | 1,885 | 3 | 1/0 | $305,000 | $305,000 | $305,000 | 100% | 4 |
| 348 Housatonic Ave | Colonial | 10,467 | 5 | 8/2 | $1,350,000 | $1,350,000 | $1,275,000 | 94% | 242 |
| 22 Belvidere Dr | Cape Cod | 1,856 | 3 | 1/0 | $239,000 | $265,000 | $260,000 | 109% | 1 |
| 413 Knowlton St | Colonial | 1,352 | 3 | 1/0 | $249,000 | $249,000 | $266,000 | 107% | 23 |
| 319 Barnum Terrace Ext | Ranch | 1,200 | 3 | 1/0 | $250,000 | $285,000 | $280,000 | 112% | 29 |
| 165 Albright Ave | Cape Cod | 1,945 | 4 | 2/0 | $290,000 | $290,000 | $310,000 | 107% | 38 |
| 161 Hamilton Ave | Colonial | 2,000 | 4 | 2/1 | $309,000 | $309,000 | $320,000 | 104% | 1 |
| 138 Sutton Ave | Colonial | 2,828 | 4 | 2/0 | $355,000 | $347,500 | $345,000 | 97% | 70 |
| 75 Peacock Dr | Ranch | 2,436 | 3 | 2/1 | $369,000 | $369,000 | $390,000 | 106% | 25 |
| 2127 Nichols Ave | Cape Cod | 1,555 | 3 | 1/1 | $289,900 | $279,900 | $276,900 | 96% | 18 |
| 345 Highland Ave | Colonial | 2,510 | 4 | 2/1 | $469,900 | $469,900 | $475,000 | 101% | 41 |
| 1318 South Ave | Colonial | 1,797 | 4 | 1/1 | $339,900 | $339,900 | $325,000 | 96% | 3 |
| 441 Patterson Ave | Cape Cod, Tudor | 1,462 | 3 | 2/0 | $279,000 | $269,000 | $255,000 | 91% | 120 |
| 10 Henry Pl | Cape Cod | 1,426 | 3 | 2/0 | $259,900 | $259,900 | $269,087 | 104% | 40 |
| 1070 Wells Pl | Cape Cod | 1,330 | 3 | 2/0 | $274,900 | $274,900 | $280,000 | 102% | 3 |
| 380 Canaan Rd | Cape Cod | 1,421 | 3 | 2/0 | $269,900 | $269,900 | $310,000 | 115% | 35 |
| 49 Arbor St | Cape Cod | 1,683 | 2 | 1/1 | $319,000 | $309,000 | $314,500 | 99% | 101 |
| 255 Albright Ave | Cape Cod | 1,300 | 3 | 2/0 | $319,000 | $319,000 | $325,000 | 102% | 3 |
| 111 Marcroft St | Cape Cod | 1,553 | 3 | 2/0 | $299,900 | $299,900 | $325,000 | 108% | 4 |
| 265 Arrowhead Pl | Ranch | 1,288 | 3 | 1/1 | $314,900 | $314,900 | $335,000 | 106% | 2 |
| 140 Brookbend Dr | Cape Cod | 1,932 | 3 | 1/1 | $339,900 | $339,900 | $347,000 | 102% | 3 |
| 109 Homestead Ave | Colonial | 1,750 | 4 | 1/1 | $349,900 | $349,900 | $350,000 | 100% | 79 |
| 105 3rd Ave | Colonial | 2,723 | 4 | 2/1 | $549,000 | $549,000 | $559,000 | 102% | 100 |
| 123 High Park Ave | Ranch | 1,156 | 3 | 1/0 | $245,000 | $245,000 | $245,000 | 100% | 9 |
| 176 Winfield Dr | Colonial | 1,495 | 3 | 1/1 | $284,500 | $284,500 | $273,000 | 96% | 49 |
| 240 Dewey St | Colonial | 1,944 | 4 | 2/1 | $319,900 | $319,900 | $330,000 | 103% | 54 |
| 48 Freeman Ave | Colonial | 2,020 | 3 | 2/0 | $329,900 | $329,900 | $345,000 | 105% | 47 |
| 405 Bunnyview Dr | Cape Cod | 1,650 | 4 | 2/0 | $359,000 | $359,000 | $361,000 | 101% | 48 |
| 242 Whippoorwill Ln | Cape Cod, Colonial | 5,839 | 4 | 3/1 | $599,999 | $599,999 | $600,000 | 100% | 77 |
| 160 Roosevelt Ave | Cape Cod | 1,764 | 4 | 1/1 | $185,900 | $185,900 | $180,000 | 97% | 94 |
| 468 Woodstock Ave | Colonial | 2,424 | 3 | 2/1 | $409,900 | $409,900 | $425,000 | 104% | 33 |
| 333 Greenfield Ave | Cape Cod | 1,726 | 2 | 2/0 | $249,000 | $249,000 | $265,000 | 106% | 5 |
| 192 Reed St | Cape Cod | 1,373 | 3 | 2/0 | $349,900 | $349,900 | $360,000 | 103% | 17 |
| 505 Hilltop Dr | Colonial | 2,022 | 3 | 2/0 | $369,999 | $369,999 | $390,000 | 105% | 3 |
| 146 Red Bird Dr | Ranch | 1,680 | 3 | 1/1 | $267,700 | $267,700 | $276,000 | 103% | 7 |
| 60 Krueger Ln | Colonial | 4,716 | 4 | 3/1 | $549,900 | $549,900 | $535,000 | 97% | 11 |
| 441 Ocean Ave | Victorian | 3,601 | 7 | 2/2 | $749,000 | $629,000 | $629,000 | 84% | 139 |
| 985 James Farm Rd | Colonial | 6,338 | 4 | 3/1 | $799,000 | $789,000 | $780,000 | 98% | 48 |
| 161 Sands Pl | Cape Cod | 1,998 | 3 | 2/0 | $219,900 | $240,000 | $240,000 | 109% | 3 |
| 235 Bunnyview Dr | Ranch | 1,444 | 3 | 1/0 | $260,000 | $260,000 | $245,000 | 94% | 70 |
| 151 Drome Ave | Cape Cod | 1,908 | 4 | 1/0 | $259,900 | $259,900 | $265,000 | 102% | 8 |
| 281 Henry Ave | Colonial | 1,600 | 3 | 1/1 | $269,000 | $269,000 | $279,000 | 104% | 5 |
| 446 2nd Ave | Cape Cod | 1,373 | 4 | 1/1 | $325,000 | $299,900 | $285,000 | 88% | 74 |
| 54 Winfield Dr | Cape Cod | 1,384 | 3 | 1/1 | $299,000 | $299,000 | $309,000 | 103% | 7 |
| 565 Tanager Pl | Cape Cod | 2,038 | 3 | 2/0 | $305,000 | $305,000 | $330,000 | 108% | 3 |
| 49 Round Hill Rd | Colonial | 1,392 | 3 | 1/1 | $349,000 | $349,000 | $355,000 | 102% | 49 |
| 424 Hilltop Dr | Ranch | 2,170 | 3 | 2/1 | $359,000 | $359,000 | $371,000 | 103% | 10 |
| Units Sold: 55 | $315,000 | $309,000 | $325,000 | 102% | 33 |