2024 Year-End Real Estate Market Analysis: Lower Fairfield County
As we wrap up 2024, the real estate market in Lower Fairfield County has demonstrated remarkable resilience and strength. Home prices have continued their upward trajectory, inventory remains tight, and the seller’s market shows no signs of slowing down. Whether you’re a homeowner curious about your property’s value or a prospective buyer navigating this competitive landscape, understanding this year’s market trends is key. Let’s dive into the details!
Market Performance by Town
Westport: A Consistently Strong Market
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Average Sale Price: $2,344,767 (+1.5% YoY)
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Closed Sales: 360 (vs. 351 in 2023)
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Days on Market: 22 (vs. 27)
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Available Homes: 48 (vs. 70)
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List-to-Sale Ratio: 102%
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Months Supply: 1.6 (vs. 2.5)
Westport continues to be one of the most sought-after markets in Lower Fairfield County, with home values holding steady and days on market decreasing. Inventory remains low, keeping demand high and competition fierce.
Wilton: The Standout Performer
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Average Sale Price: $1,261,069 (+12.3% YoY)
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Closed Sales: 264 (vs. 229 in 2023)
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Days on Market: 28 (vs. 37)
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Available Homes: 17 (vs. 19)
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List-to-Sale Ratio: 105.9%
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Months Supply: 0.8 (vs. 0.9)
Wilton led the way in price appreciation this year, with an impressive 12.3% increase. Homes are flying off the market, averaging just 28 days before selling—nearly 10 days faster than last year. With less than a month of available inventory, buyers must act quickly in this highly competitive market.
Weston: Low Inventory, High Demand
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Average Sale Price: $1,457,392 (+9.5% YoY)
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Closed Sales: 134 (vs. 160 in 2023)
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Days on Market: 34 (vs. 45)
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Available Homes: 13 (vs. 32)
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List-to-Sale Ratio: 104.1%
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Months Supply: 1.1 (vs. 2.5)
Weston saw substantial price gains and a notable drop in available inventory. With only 1.1 months of supply, the market remains incredibly tight, favoring sellers and leading to competitive bidding situations.
Fairfield: A Balanced Market with Steady Growth
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Average Sale Price: $1,131,201 (+8.8% YoY)
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Closed Sales: 676 (vs. 680 in 2023)
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Days on Market: 28 (vs. 43)
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Available Homes: 77 (vs. 78)
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List-to-Sale Ratio: 102.2%
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Months Supply: 1.4 (vs. 1.4)
Fairfield continues to perform well, with healthy price appreciation and a balanced number of closed sales compared to last year. Homes are selling much faster than before, and competitive offers remain the norm.
Notable Sales of 2024
Westport
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Highest Sale: 279 Saugatuck Ave - $11,000,000
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Lowest Sale: 35 Bridge Street Unit 101 - $310,000
Fairfield
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Highest Sale: 385 Harbor Road, Southport - $15,000,000
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Lowest Sale: 77 Hibiscus Street - $220,000
Weston
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Highest Sale: 10 Dragonwood Lane - $4,951,458
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Lowest Sale: 6 Willow Road - $380,000
Wilton
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Highest Sale: 105 Seeley Road - $5,600,000
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Lowest Sale: 99 Wilton Crest - $270,000
Market Insights & Takeaways
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Wilton led the area in price appreciation at 12.3%, followed by Weston at 9.5%.
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Days on market decreased significantly across Westport, Weston, Fairfield, and Wilton, signaling a highly active and competitive market.
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Inventory remains critically low, especially in Wilton (0.8 months) and Weston (1.1 months), driving up prices and fueling multiple-offer scenarios.
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List-to-sale price ratios exceeded 100% across all four towns, indicating strong buyer demand and aggressive bidding.
Thinking About Selling in 2025?
With inventory at historic lows and buyer demand pushing prices higher, 2025 presents an incredible opportunity for sellers. If you’ve been considering listing your home, now is the time to take advantage of this strong market.
Our expert team specializes in helping homeowners navigate the selling process with confidence. We provide personalized market analyses, strategic pricing recommendations, and cutting-edge marketing to ensure your home stands out in this competitive landscape.
📩 Contact us today for a no-obligation consultation and let’s make your real estate goals a reality in 2025!
