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Fairfield Co. Home Values Fall 4.8 Percent

In the second quarter of 2012, just five towns—Bridgeport, Darien, Greenwich, Stamford and Trumbull—saw the value of a single-family residence increase, UConn says.

 

Home values for 18 Fairfield County towns tracked by a special program out of the University of Connecticut fell by an average of 4.8 percent in the second quarter, according to new data.

Only five towns in the county—Bridgeport, Darien, Greenwich, Stamford and Trumbull—saw the value of a “mid-tier” home rise from the second quarter of 2011 to 2012, according to the School of Business’s Center for Real Estate and Urban Economic Studies.

Monroe and Newtown saw the steepest drop-offs at more than 20 percent each, while Stamford showed the highest increase, at 9.1 percent (see table below).

Each quarter, the UConn center produces “constant quality indices” that track the changing value of homes in Connecticut towns by minimizing variables such as inflation and seasonality, as well as the effect a low-volume sales quarter has on average prices. The center defines a “mid-tier” single family home differently for each town (see attached PDF) and estimates what the value of that home is each quarter.

For a narrative summarizing each town’s Q2 data—and to join a local conversation about that town’s real estate market—click on town name in the table below. Included in each individual article is a searchable database of the UConn center’s data going back to 2000.

 

Town Q2 rate of change -3.3% Bridgeport 0.2% -1.8% 4.1% -2.0% 4.1% -23.4% -9.4% -21.5% -3.9% -10.1% -7.4% 9.1% -4.1% 2.1% -2.0% -6.1% -10.7%
Regina van der Heyden July 31, 2012 at 03:14 AM
Interesting that Raveis' data, compiled from MLS statistics, is different. Year to date • Avg sales price in CT - up by 14% • Unit sales in CT - up by 29% compared to last year • Days on market in CT - decrease of 11% • Also, key numbers show positive trends in the luxury market - average sale prices in the $2M+ range were up in CT Please visit my blog, 'brokerbeatNewCanaan on PATCH,' for monthly NC Market Stats taken from MLS data, which will post this Friday for July numbers, and then again at the beginning of September for August numbers, until our weekly return in mid September, with all things real estate !!!

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