Stratford Market Report October 2020

Stratford’s real estate market has been very stable for the past 4 months.  The median sales price has been hovering around $300,000 since June, only dropping slightly in July to $297,500.  Sales for September have been strong, at 88 houses sold, compared to a year ago, with 58 homes sold.  Buyer demand has been strong, with an influx of out of state buyers looking to take advantage of Stratford’s strong housing market and historically low interest rates.  And homeowners have been meeting that demand more so then in other nearby towns.  September saw 110 new listings in September, compared to 63 a year ago.  Buyers are acting quickly, as days on market continues do drop:  26 days for September, compared to 33 in August, 35 in July and 45 in June.  Even with those strong sales numbers, buyer demand is still high, as the months of supply still points to a strong sellers-market.  September’s months of inventory dropped for a 4th straight month to 1.9 months.  With pending sales of 65 homes and continued low interest rates (2.88% 30yr fixed), buyer demand is expected to continue.  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:$300,000
change:0.00%
YTD change:18.11%
Units Sold:83
change:36.07%
Active Listings:196
change:13.29%
New Listings:110
change:11.11%
Days on Market:26
change:-21.21%
Months of Supply:1.90 (Seller's Market)
change:-17.39%

Economic News:
Stock Market: After a strong performance in August, the major US stock markets suffered losses in September. The NASDEQ was down 5.16%, S&P 500 down 3.92% and the Dow Jones was down 2.28%. Despite September’s pullback, the NASDEQ and S&P 500 were up for the year, 24.46% and 4.09% respectivly, while the Dow Jones YTD performance for the end of September was -2.65%.
Employment:  September saw another drop in the unemployment rate from 8.4% in August to 7.9%, according to the Bureau of Labor Statistics. Although a real improvement since April’s high of 14.7%, this will be the highest uneployment rate going into an election since first being recorded in 1948. September’s biggest job gains came in the leisure and hospitality sectors, followed by retail trade.
Real Estate:  Real estate sales continued to be brisk nationwide.  Existing-home sales continued to climb in August, marking three consecutive months of positive sales gains, according to the National Association of Realtors®. Each of the four major regions experienced both month-over-month and year-over-year growth, with the Northeast seeing the greatest improvement from the prior month.

2020 Local Real Estate Price Trends:

2020 continues to be a strong year for the area real estate markets when compared to 2019’s first 9 months.  All towns show increases in median sales price, with many over 10%.  The days on market have also decreased significantly, except for Orange and Ridgefield, which have both increased
1/19-9/191/20-9/20Change
Bethel$345,000 $365,000 5.80%
Bridgeport$200,000 $235,000 17.50%
Easton$557,000 $560,000 0.54%
Fairfield$590,000 $655,000 11.02%
Milford$305,000 $350,000 14.75%
Monroe$374,000 $404,000 8.02%
Newtown$380,100 $424,500 11.68%
Norwalk$486,509 $530,000 8.94%
Orange$375,000 $392,500 4.67%
Redding$530,500 $555,000 4.62%
Ridgefield$635,000 $672,500 5.91%
Shelton$337,500 $370,000 9.63%
Stratford$252,000 $280,000 11.11%
Trumbull$385,000 $421,813 9.56%
Weston$687,000 $790,000 14.99%
Westport$1,182,500 $1,325,000 12.05%
Wilton$720,000 $782,500 8.68%
Tips To Prepare Your Garden For Fall:
With more time at home this Spring, millions of Americans planted garden beds to improve their yards’ aesthetics and provide food for their families.  Now with Fall approaching, gardens need to be tended to in preparation for Spring. Deadhead Perennials:  When perennial flowers have finished blooming, cut off old stalks or stems, which is called “deadheading.” This keeps them healthy and helps them to regenerate more flowers next season. Prune And Transplant Overgrowth: Plants and bushes require different types of trimming, thinning out old growth, which will help the plant grow bigger and fuller next  season.   Overgrown plants can be transplanted to another part of the yard after they finish blooming, usually during late fall. Mulch Plants To Retain Water:  Using an organic material, such as wood, bark, or straw, homeowners should mulch flower beds and around trees to help them retain water, keep down weeds and curtails ground temperature fluctuations protecting plants over winter. Plant Bulbs In The Fall:  Homeowners should plant bulbs vin the fall, before the first frost arrives and get a jump on the spring growth. Plant Vegetable Gardens With A Cover Crop:  Planting cover crops such as clover or winter wheat protect your vegetable garden soils from the harsh winter.  Come spring, thes crops can be turned into the soil prior to replanting, wihch provides nitrogen and other organic nutrients to the soil.

Stage A Cozy Outdoor Space For Cooler Weather:
During the pandemic, outdoor space has become a premium consideration. Homeowners are sprucing up their spaces to maximize every square inch of their properties, and home buyers are reportedly giving more weight to the outdoor appeal of homes.  Here are a few ways to spend more tie outdoors as the weather cools:

1: Add a fire pit.  Outdoor fireplaces or fire pits are a big win once the sun goes down and the weather cools off.
2: Add plush cushions and blankets.  Add seat cushions, outdoor pillows, and a basket of warm blankets to wrought-iron deck chairs and enjoy a cozy evining outdoors.
3:  Propane Heaters.  Patio heaters have become one of the hottest accessories this fall as the temperature drops. Try a standing propane heater, electric heat lamp, or an infrared heater.
4: All-weather rugs.  Outdoor rugs can add an extra layer to your outdoor space can cozy it up.
5: Extra lighting.   Outdoor lamps can help with ambiance. Consider adding Edison bulbs, glowing lanterns, mason jars with tee lights or tiki torches.

Sales Trends: January-September

October Single-Family Home Sales

(OLP: original list price • LP: list price • SP: sale price • DOM: days on market)

AddressStylesq ftBRBA (f/h)OLPLPSPSP/OLPDOM
255 Hollister St.Cape Cod1,75641/1$249,900$249,900$250,000100%65
23 Circle Dr.Cape Cod1,42721/0$259,900$245,000$255,00098%23
55 Allyndale Dr.Cape Cod1,15831/0$274,900$274,900$275,000100%10
145 Twin Oaks TerraceRaised Ranch2,16232/0$334,900$334,900$342,500102%25
95 Baxter St.Colonial2,52532/1$529,900$475,000$475,00090%19
249 Sherwood PlaceColonial1,11931/0$199,900$199,900$175,00088%17
22 Jackson Ave.Half Duplex1,80631/1$196,500$196,500$188,00096%56
200 Chelsea St.Cape Cod1,57931/0$245,000$235,000$205,00084%20
321 Knowlton St.Cape Cod1,15521/0$239,900$239,900$255,000106%4
115 Lincoln St.Ranch1,20031/0$274,900$274,900$275,000100%57
691 King St.Ranch1,05221/0$269,900$259,900$255,00094%39
65 Sulik TerraceCape Cod1,51432/0$270,000$270,000$295,000109%4
90 Old Town Dr.Cape Cod1,37731/1$234,910$234,910$235,000100%47
735 Robin LaneRanch1,24222/0$259,900$259,900$265,000102%66
25 Seabreeze CircleRanch1,14432/0$279,900$279,900$270,00096%13
127 Plymouth St.Colonial1,46932/0$279,900$279,900$290,000104%1
170 Hollywood Ave.Split Level1,46631/1$324,900$319,500$320,00098%56
176 Lawlor TerraceCape Cod1,42632/0$325,000$325,000$340,000105%15
345 Sunnybank Ave.Split Level1,76732/0$329,900$329,900$342,000104%6
185 Mcleod PlaceRanch2,60432/1$379,900$369,900$375,00099%24
112 Victory St.Colonial, Bungalow1,15521/0$229,900$229,900$235,000102%3
58 Hartland St.Cape Cod2,20532/0$429,900$419,900$395,00092%27
85 Frash St.Half Duplex1,21831/1$142,000$134,500$132,00093%244
186 Delaware Dr.Cape Cod1,51132/0$229,900$229,900$230,000100%92
186 Red Bird Dr.Ranch1,26932/0$234,900$234,900$234,000100%10
359 Nichols Ave.Split Level1,63631/1$265,000$264,500$250,00094%98
561 Henry Avenue Ext.Cape Cod1,16031/1$279,900$279,900$265,00095%16
26 Parkway Dr.Colonial1,22821/0$289,000$289,000$272,00094%37
5300 Main St.Ranch3,14232/1$429,900$399,900$385,00090%796
60 Bayview Blvd.Cape Cod2,70142/1$599,900$599,900$550,00092%21
801 Birdseye St.Cape Cod, Bungalow1,03331/0$159,900$159,900$152,00095%233
142 Regency TerraceCape Cod1,16341/0$199,900$199,900$209,100105%62
66 Edwin St.Ranch1,10432/0$229,900$229,900$245,000107%72
181 Delaware Dr.Cape Cod1,34632/0$287,000$287,000$295,000103%5
136 Porter St.Ranch1,37321/0$309,900$299,900$295,00095%23
66 Burbank Dr.Ranch2,01532/0$309,900$309,900$312,000101%67
12 Rowland St.Colonial1,51831/1$325,000$325,000$326,000100%4
185 Peters LaneColonial2,34242/1$419,900$419,900$430,000102%33
816 Housatonic Avenue Ext.Colonial2,28942/1$525,000$500,000$500,00095%65
155 Tavern Rock Rd.Cape Cod1,67732/0$349,900$349,900$365,000104%2
35 Post Oak Rd.Colonial2,08042/1$389,900$389,900$400,000103%16
40 High Park Ave.Bungalow1,08821/0$110,000$110,000$162,000147%12
71 Tavern Rock Rd.Ranch1,71241/0$129,900$129,900$190,000146%16
1080 Wells PlaceCape Cod1,83922/0$244,806$244,806$262,500107%9
336 Highland Ave.Cape Cod1,37532/0$319,000$319,000$330,500104%2
160 Timber Ridge Rd.Colonial, Contemporary2,34132/1$399,000$399,000$432,000108%26
165 Fairchild Rd.Colonial2,55242/1$475,000$475,000$450,00095%55
315 Riverdale Dr.Cape Cod1,74632/0$494,900$494,900$458,00093%53
559 Short Beach Rd.Colonial, Victorian2,71042/1$789,000$769,000$749,00095%38
11 Mill River Dr.Colonial1,58031/1$319,900$319,900$320,000100%40
240 Old Coach LaneContemporary3,39843/1$420,000$420,000$420,000100%30
97 1st Ave.Colonial3,37342/1$749,000$724,900$710,00095%121
149 Columbus Ave.Half Duplex1,22431/1$190,000$190,000$195,000103%6
90 Reut Dr.Ranch1,14432/0$327,900$327,900$340,000104%53
100 Delwood Rd.Ranch2,59232/0$350,000$360,000$361,000103%36
1096 Whippoorwill LaneRanch3,31242/1$369,900$369,900$380,000103%15
265 Bruce Ave.Colonial83221/0$199,950$199,950$195,00098%30
46 Elmhurst Ave.Colonial1,64441/1$299,000$299,000$310,000104%38
69 Pleasantview Ave.Ranch2,46331/1$315,000$315,000$321,000102%21
94 Stonybrook Rd.Cape Cod1,16031/0$229,900$229,900$230,000100%38
763 Nichols Ave.Cape Cod1,29341/0$290,000$290,000$300,000103%5
400 Keating Dr.Colonial, Ranch2,57242/1$389,000$369,000$335,00086%56
34 Barrows TerraceCape Cod3,42042/0$349,000$349,000$380,000109%29
25 Watkins St.Cape Cod1,20631/0$190,000$190,000$195,000103%14
832 Nichols Ave.Cape Cod1,65031/1$300,000$300,000$310,000103%33
30 Shea TerraceCape Cod1,71732/0$339,000$339,000$344,000101%91
959 Wells PlaceColonial2,30033/1$399,900$399,900$420,500105%4
360 High View Dr.Colonial2,97743/1$479,900$479,900$479,900100%32
5 Marr St.Bungalow64511/0$174,900$174,900$177,500101%4
515 Hollister St.Cape Cod1,21831/0$199,000$199,000$190,00095%45
123 Wiklund Ave.Cape Cod1,10232/0$245,000$245,000$259,000106%2
858 Freeman Ave.Ranch1,24532/0$290,000$290,000$300,000103%2
100 Brookbend Dr.Cape Cod1,18331/0$300,000$300,000$320,000107%7
297 Reeds LaneColonial1,90832/0$325,000$325,000$330,000102%25
802 Housatonic Avenue Ext.Colonial2,90932/2$565,000$559,000$552,00098%115
88 Peck St.Hi-Ranch1,89632/0$269,000$269,000$280,000104%24
331 Freeman Ave.Cape Cod1,93432/0$285,000$285,000$304,000107%73
225 Edgewood St.Ranch1,45231/1$300,000$300,000$325,000108%6
85 Winfield Dr.Colonial1,76021/0$209,900$209,900$225,123107%12
25 Arbor St.Cape Cod97121/0$239,900$239,900$239,900100%47
867 Nichols Ave.Colonial1,29531/1$239,000$239,000$245,000103%30
86 Ferndale Ave.Cape Cod1,61731/0$269,900$269,900$285,000106%26
156 Warwick Ave.Colonial1,70641/1$322,000$322,000$315,00098%40
Units Sold: 83$290,000$290,000$300,000101%26
Are You Interested In A Real Estate Review?
A real estate review is designed to give you information about sales in your neighborhood you can use to make sure you are properly insured and aware of your home’s value.  Contact me today to get your personalized complementary review. phone:  (203) 895-2783.  email:  peterlamastro@kw.com