State of the Market, October 2019

It’s come to that point in the year where a dramatic market shift is occurring as I write this, and it’s important to convey to potential buyers, sellers, and in between.

Here is brief 24 Month Real Estate History in Fairfield County for single family homes (for price points within 20% of the median sales price):

Holidays of 2017 into 2018: Bullish, real estate market is rising, VERY low inventory, buyers couldn't find homes (Our Message: SELL, SELL, SELL!);
Spring Market 2018: Average market time was days (especially for ‘normal’ homes), inventory remained low, prices were rising quickly (Our Message: We Need Inventory!);
Fall into Holidays 2018: Market remained robust (Our Message: The same);
Spring Market 2019: The market slowed, inventory came, but buyers weren't buying as quickly, only the best properties were selling quickly (Our Message: Sell before you can't anymore!);
July/August 2019: Dead markets, where usually only August is dead due to Vacations (Our Message: Only sell if you have to);
After Labor Day, 2019: Huge increase in inventory, lack of demand (Our New Message: For the first time in over three years, it's a buyer's market).

Read More