Rowayton & Darien Open Houses this Weekend AND Market update!

Open Houses Sunday March 17th

Darien

129 Five Mile River Rd          $7,195K          1-3:00 pm          Kelly Assoc

25 Three Wells Ln                $4,199K          1-4:00 pm          Halstead

700 Hollow Tree Ridge Rd    $3,850K         10 am-12:00 pm  Barbara Cleary Rlty

19 Revere Rd                       $2,395K           1-3:00 pm          Prudential CT

96 Five Mile River Rd           $2,295K           1-3:00 pm          Kelly Assoc

53 Relihan Rd                      $2,195K          1-3:00 pm          Halstead

5 Morehouse Ln                   $1,695K          12-3:00 pm         Flat Fee Realty

42 Fairview Ave                   $1,449K           1-3:00 pm          Halstead

27 Maple St                         $390K              1-3:00 pm         Coldwell Banker

Rowayton

259 Rowayton Ave               $925K             2-4:00 pm          Kelly Assoc

Market Update

Darien

18 listings have closed so far this year with another 54 under contract! Current inventory is on the low side with only 124 houses currently listed for sale. More should be coming on in the next few weeks, but in the height of the Spring market we could see over 170 listings typically.. Of course the lower the inventory, the better it is for sellers..

Rowayton

5 listings have closed so far this year with another 17 under contract. Curret inventory is 38, also on the low side. We can see 60-70 listings in the height of a typical Spring market. More listings will be coming on, but I predict it won't be as high as that.

Both markets

Both Rowayton and Darien have lowish inventory, and a lot of activity with houses getting accepted offers rather quickly and even multiple bidding situations. It almost feels like the good old days of 2005-2007, but the prices are more in check, and are particularly lower in Rowayton than back then.

So in one sense it is a 'seller's market', partly due to low inventory, but only if the house is priced right. Buyers still want a good deal, and banks are still much more particular when it comes time to appraise a house, so pricing is important in how long a house will be on the market.

It is also still a 'buyers' market' because of the more realistic prices overall, and the continuation of low mortgage rates.

Let me know your experiences and thoughts in your comments!

Thank you

Elaine Falkenberg

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SEE ALSO:

Property transfers columns in area Patch communities:

Darien | Fairfield | Greenwich | (Greenwich open houses) | New Canaan | Norwalk | Stamford | Westport | Weston-Redding-Easton | Wilton

The Darien Real Estate topics page, which includes:

• Youtube Open House (videos for homes on the market)

• Al Filippone's real estate blog

• Elaine Falkenberg's real estate blog (including open houses)

• Ken Allen's real estate blog