Trumbull saw another great real estate month, as the median sales price remained close to its yearly high at $450,000. That’s a 12.85% increase since the start of the year. The month which saw the highest price was August, at $460,790. Although the number of sales dropped from 71 last month to 59 in November, those houses sold quickly, in just 35 days. Trumbull continues to experience an inventory shortage, unable to satisfy large number of buyers looking for homes. The months of supply is just 2.2 months, indicating a strong seller’s-market. Typically, 6 months of supply is considered a balanced market between buyer and seller. This strong housing market is expected to continue into 2021, fueled by the high buyer demand and historically low interest rates. The 30 year fixed rate dropped to 2.71% by the end of the month, a rate never before recorded. 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: | $450,000 |
| change: | 0.00% |
| YTD change: | 12.85% |
| Units Sold: | 59 |
| change: | -16.90% |
| Active Listings: | 129 |
| change: | -4.76% |
| New Listings: | 43 |
| change: | -33.85% |
| Days on Market: | 35 |
| change: | -5.41% |
| Months of Supply: | 2.20 (Seller's Market) |
| change: | -21.43% |
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.
Fairfield 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 |
| 45 Sunnycrest Rd | Split Level | 2,173 | 3 | 3/0 | $449,900 | $449,900 | $445,000 | 99% | 46 |
| 25 White Oak Rd | Ranch | 1,688 | 3 | 2/0 | $449,000 | $449,000 | $470,000 | 105% | 3 |
| 90 Woodhaven Dr | Ranch | 2,878 | 3 | 3/0 | $449,900 | $449,900 | $450,000 | 100% | 34 |
| 5 Apple Gate Ln | Colonial | 3,748 | 4 | 2/2 | $810,000 | $795,000 | $775,000 | 96% | 121 |
| 55 Cricket Ln | Ranch | 2,468 | 3 | 2/0 | $449,000 | $449,000 | $450,000 | 100% | 20 |
| 110 Fresh Meadow Dr | Colonial | 2,124 | 4 | 2/1 | $439,500 | $439,500 | $410,000 | 93% | 39 |
| 24 Longmeadow Rd | Colonial | 3,046 | 4 | 2/1 | $499,000 | $449,000 | $452,000 | 91% | 124 |
| 11 Shelbourne Rd | Cape Cod | 1,697 | 5 | 2/0 | $469,900 | $469,900 | $500,000 | 106% | 3 |
| 35 Pachaug Rd | Colonial | 2,368 | 4 | 2/1 | $495,000 | $495,000 | $500,000 | 101% | 19 |
| 4 Vixen Rd | Colonial | 2,418 | 4 | 2/1 | $535,000 | $535,000 | $525,000 | 98% | 3 |
| 121 Pinewood Trl | Split Level | 2,188 | 4 | 3/0 | $750,000 | $699,000 | $670,000 | 89% | 136 |
| 71 Craig Ln | Ranch | 1,344 | 3 | 1/0 | $315,000 | $315,000 | $290,000 | 92% | 79 |
| 77 Plum Tree Ln | Ranch | 1,305 | 3 | 1/0 | $349,900 | $349,900 | $349,900 | 100% | 20 |
| 185 Deerfield Dr | Ranch | 2,478 | 3 | 2/0 | $339,900 | $339,900 | $352,000 | 104% | 65 |
| 30 Golden Hill St | Ranch | 1,630 | 3 | 2/0 | $409,000 | $409,000 | $435,000 | 106% | 2 |
| 267 Lawrence Rd | Ranch | 2,582 | 3 | 2/1 | $429,900 | $429,900 | $435,000 | 101% | 21 |
| 29 Walker Rd | Ranch | 1,804 | 3 | 2/1 | $339,900 | $439,900 | $441,000 | 130% | 65 |
| 36 Golden Hill St | Ranch | 1,932 | 3 | 1/1 | $449,000 | $449,000 | $455,000 | 101% | 32 |
| 1698 Huntington Tpke | Colonial, Tudor | 3,440 | 5 | 4/1 | $469,000 | $459,000 | $459,000 | 98% | 27 |
| 104 Beechwood Ave | Colonial, Contemporary | 2,970 | 4 | 3/1 | $499,000 | $499,000 | $495,000 | 99% | 9 |
| 21 Westfield Dr | Raised Ranch | 3,653 | 5 | 3/0 | $525,000 | $525,000 | $525,000 | 100% | 21 |
| 21 Green St | Ranch | 1,104 | 3 | 1/0 | $299,900 | $299,900 | $285,000 | 95% | 37 |
| 15 Garland Cir | Ranch | 1,564 | 3 | 1/1 | $299,900 | $299,900 | $288,500 | 96% | 30 |
| 100 N. Stowe Pl | Ranch | 1,400 | 3 | 2/0 | $379,900 | $379,900 | $415,000 | 109% | 7 |
| 281 Lawrence Rd | Ranch | 1,708 | 3 | 2/0 | $405,000 | $420,000 | $415,000 | 102% | 72 |
| 61 Middlebrooks Ave | Cape Cod | 1,617 | 3 | 2/0 | $377,900 | $349,900 | $342,500 | 91% | 105 |
| 109 Cottage Street St | Cape Cod | 2,007 | 3 | 2/0 | $399,900 | $399,900 | $400,000 | 100% | 2 |
| 110 Old Tree Farm Ln | Colonial | 7,397 | 5 | 4/2 | $1,195,000 | $1,195,000 | $1,195,000 | 100% | 179 |
| 664 Booth Hill Rd | Raised Ranch | 2,177 | 3 | 2/1 | $439,000 | $439,000 | $439,000 | 100% | 45 |
| 24 Crocus Ln | Raised Ranch | 2,171 | 3 | 2/1 | $439,000 | $439,000 | $456,816 | 104% | 21 |
| 33 Elberta Ave | Colonial | 1,702 | 3 | 1/1 | $369,900 | $369,900 | $370,000 | 100% | 7 |
| 131 Beardsley Pkwy | Colonial | 1,929 | 3 | 1/1 | $399,900 | $384,900 | $370,000 | 93% | 38 |
| 113 Elliott Rd | Ranch | 3,336 | 3 | 3/0 | $479,900 | $479,900 | $500,000 | 104% | 10 |
| 57 Gray Rock Rd | Ranch | 4,016 | 5 | 3/1 | $659,000 | $659,000 | $639,000 | 97% | 37 |
| 13 Raynor Ave | Cape Cod | 1,400 | 3 | 2/0 | $367,500 | $367,500 | $390,000 | 106% | 35 |
| 71 Plum Tree Ln | Colonial | 2,116 | 5 | 2/0 | $374,900 | $374,900 | $370,000 | 99% | 38 |
| 50 Beardsley Pkwy | Cape Cod | 1,677 | 3 | 1/1 | $375,000 | $375,000 | $386,000 | 103% | 33 |
| 9 River Bend Rd | Colonial | 2,438 | 4 | 2/1 | $399,900 | $399,900 | $400,000 | 100% | 56 |
| 110 Fernwood Rd | Colonial | 3,900 | 5 | 5/0 | $749,900 | $699,900 | $665,000 | 89% | 101 |
| 81 Chestnut Hill Rd | Colonial | 2,174 | 3 | 1/1 | $377,777 | $377,777 | $384,000 | 102% | 3 |
| 19 Woodfield Dr | Raised Ranch | 2,020 | 3 | 2/1 | $379,900 | $379,900 | $390,000 | 103% | 70 |
| 43 Jog Hill Rd | Ranch | 3,125 | 4 | 2/1 | $449,900 | $449,900 | $432,000 | 96% | 92 |
| 93 Porters Hill Rd | Ranch | 2,176 | 3 | 2/0 | $525,000 | $525,000 | $480,000 | 91% | 64 |
| 229 Teller Rd | Ranch | 2,945 | 3 | 2/0 | $449,900 | $449,900 | $482,000 | 107% | 3 |
| 24 Jog Hill Rd | Ranch | 3,060 | 3 | 2/0 | $479,900 | $479,900 | $495,000 | 103% | 31 |
| 111 Arden Rd | Colonial | 2,544 | 4 | 2/1 | $529,000 | $529,000 | $520,000 | 98% | 42 |
| 10 Highwood Pl | Colonial | 3,096 | 4 | 2/1 | $595,000 | $595,000 | $610,000 | 103% | 28 |
| 11 Pumpkin Hill Rd | Colonial | 4,921 | 4 | 3/1 | $574,900 | $574,900 | $615,000 | 107% | 22 |
| 40 Koger Rd | Colonial | 2,743 | 3 | 3/1 | $440,000 | $440,000 | $450,000 | 102% | 60 |
| 1923 Huntington Tpke | Cape Cod | 1,506 | 2 | 2/0 | $369,900 | $359,900 | $359,900 | 97% | 78 |
| 8 Butternut Ln | Colonial | 2,200 | 3 | 2/1 | $469,900 | $469,900 | $478,700 | 102% | 7 |
| 30 Saybrook Rd | Ranch | 1,913 | 3 | 2/1 | $395,000 | $395,000 | $380,000 | 96% | 28 |
| 28 Pert St | Ranch | 3,210 | 4 | 2/2 | $459,900 | $459,900 | $459,000 | 100% | 8 |
| 116 Pinewood Trl | Ranch | 1,813 | 3 | 2/0 | $469,000 | $469,000 | $490,000 | 104% | 14 |
| 26 Moose Hill Rd | Colonial | 2,906 | 4 | 2/1 | $559,900 | $559,900 | $545,000 | 97% | 49 |
| 25 Beech St | Colonial | 1,454 | 4 | 1/0 | $295,000 | $295,000 | $280,000 | 95% | 67 |
| 163 Blackhouse Rd | Ranch | 1,576 | 3 | 1/0 | $300,000 | $300,000 | $300,000 | 100% | 75 |
| 66 October Ln | Colonial | 2,822 | 4 | 3/0 | $499,900 | $499,900 | $485,000 | 97% | 37 |
| 17 Blackhawk Rd | Colonial | 6,161 | 4 | 5/1 | $999,000 | $999,000 | $975,000 | 98% | 61 |
| Units Sold: 59 | $449,000 | $449,000 | $450,000 | 100% | 35 |