Here is the report and my analysis of the Real Estate markets in Darien & Rowayton for 2013. Facts, figures, and interpretations.
As for 2014, the Spring market has STARTED! If you are thinking of selling your home, now is the time.
Darien & Rowayton 2013 Year End Market update:
Darien had another good year in 2013 with 285 properties sold, which is about the same as 2012. And way above the 225 sold in 2011.
2013: 285 properties sold
2012: 286 properties sold
2011: 225 properties sold
As for prices, the average sales price was about 9% higher than in 2012.The list to sales price ratio is nearly the same – 96% this year versus 95% in 2012.
2013: List $1,714K Sold $1,647K
2012: List $1,599K Sold $1,515K
The median sales price is up about 11% from 2012, but about 5% lower than 2011.
The average price per SF has been pretty consistent the past few years.
The average DOM (days on market) has also been pretty consistent hovering around 130 days. This is from the time a house is listed until the time of contract signing, not time of closing.
2013: 131 days
2012: 130 days
2011: 140 days
2010: 140 days
The highest sale was 107 Long Neck Point at $14,900K with a list price of $15,900K.
The next 2 highest were 129 Five Mile River Rd at $6,875K with a list price of $7,105K. And 19 Contentment Island at $5,635K with a list price of $6,995K.
The lowest sale was 27 Maple Ave at $326K with a list price of $350K.
In 2013 inventory overall was on the low side. In 2012 we had as many as 235 listings in April and May - the height of the Spring Market. In 2011, over 200, but in 2013 we had just over 180 in that period. Lower inventory creates more of a sellers market as there is less competition and few choices for buyers.
There are 79 houses on the market right now. That number could more than double as we can typically have over 180 listings in April and May. Thinking of listing your house? Call me so we can get it ready. Spring market is starting!
Overall I would say the Darien market it steady. Average and median prices are up slightly over 2012, the number of sales the same as 2012. Days on market has been about the same the last few years. As usual, if a house is priced right for its condition, location, size, and is ‘staged’ to show, it will sell fairly quickly.
For example, a house just came on the market on Holmes Ct for $1,079K on Jan 2, and it got an accepted offer as of Jan 6th.
Rowayton had a stellar year in terms of number of solds - 70 properties sold in 2013 compared to 62 in 2012. That is a 13% increase, and is the largest number of houses sold since 2006.
2013: 70 properties sold.
2012: 62 properties sold
2011: 53 properties sold
2010: 54 properties sold
The average sales price in Rowayton is down about 5% over 2012. The list to sales price ratio is about the same at 94% over the last few years.
2013: List $1,321K Sold $1,240K
2012: List $1,394K Sold $1,304K
2011: List $1,415K Sold $1,327K
The median sales price is about the same as 2012. But it has gone down quite a bit from 2011 and 2010, and is back to where it was in 2009.
The average price per SF is about the same as 2012, but down around 9% from 2011.
The average DOM (days on market) in has gone down about 30% since 2012.. This is the lowest DOM we have seen since 2006!
2013: 101 days
2012: 131 days
2011: 126 days
2010: 211 days
The highest sale was 18 Rocky Point Rd at $6,000K with a list price of $7,800K. The next highest was 6 Golden Court at $4,050K listed at $4,250K. The lowest sale was 44 Arnold Lane at $470K with a list price of $499K.
In 2013 inventory overall was on the low side. At the height of the Spring market in April and May there were about 58 listings. In 2012 at that time we had as many as 75. In 2011, we had up to 85 listings, and in 2010 over 90 listings. Lower inventory creates more of a sellers market as there is less competition and few choices for buyers.
There are 28 houses on the market right now. Will that number double or triple come Spring?
Thinking of listing your house? Call me so we can get it ready. Spring market is starting
Overall Rowayton is doing very well in briskness of the market. More homes were sold than any year since 2006. Average days on market is also down to 2006 levels. Average and median prices are down rather significantly from 2006-2007, though about the same as 2012.
I think this signals a leveling out of the market. Rowayton tends to fluctuate more than Darien with higher ups and downs, but it seems to be stabilizing now.
All of the above summary statistics are on my website www.elainefalkenberg.com under 'local market stats'.
If you would like the detailed list of actual houses sold with addresses, price per SF, days on market etc, email me and I will send that to you.
And contact me if you would like me to evaluate your home.
Happy New Year!
Realtor, William Raveis
Licensed in CT
website: www.elainefalkenberg.com check this out!
22 Old Kings Highway South, Darien CT 06820
159 Rowayton Ave, Rowayton CT 06853