Posted by Jonathan J. Miller -Monday, July 27, 2009, 12:00 AM
Although I don’t currently report on the Fairfield County, CT market myself, here is an excellent recap of the 2007, 2008 and 2009 (through June) housing market presented by William Raveis Real Estate, who does a great job with their online presentation of MLS stats. I selected Greenwich, Connecticut as the town to be analyzed (I have to select one) given its heavy linkage to Wall Street. County and state trends were also shown.
Trends are nearly identical to the NYC, Long Island and The Hamptons/North Fork markets: Marketing time has expanded, median sales price, sales have fallen sharply and rising inventory. The similarity is consistent with many other metro areas based on the credit contraction throughout the country.