$1.5MM - $2MM Buyer's Guide

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Considering moving to CT and looking for homes in the $1.5-2MM range? Our guide below will provide you with the insight needed to decide if Lower Fairfield County CT Real Estate is a fit for you and your family

Hi! If you are new to the blog my name is Charlie Vinci. I’m a Fairfield County Connecticut realtor covering Connecticut’s “Gold Coast”, and my team and I specialize in helping people move to the area.

Be sure to check out our other guides for different price brackets, as well as upcoming waterfront and luxury buyer’s guides. Check out our YouTube channel for those videos and our blog for the articles. You can also find the associated maps and guides mentioned in this article on our website!

Market Overview:

We know home prices change over the course of the year. With most forecasts predicting continued appreciation in 2022, although at a slower pace than 2021, I'm going to show you, when possible, what you would get at the beginning of the year, and how your buying power may erode over the course of the year. I’m also going to show you the uniqueness of the real estate in the $1.5-2MM price bracket, in each of the towns.

Let’s look at homes in the $1.5-2MM price bracket in each town. Then, if you stay around until the end, I’m going to benchmark the towns for a few of the metrics that matter most.

Greenwich:

Alright, we are going to start in Greenwich, the average Greenwich home in this price range looked something like this at the beginning of 2022 and has a living area of 2898 square feet above ground, with 3.8 bedrooms, 2.9 full baths, 1.1 half bath, has 1.6 garage spaces, was built in 1954, and had a lot size of 1.09 acres, again on average.

By the end of 2022 buyers should expect a reduction in buying power that looks something like this. The most noticeable difference being a reduction of 326 square feet, which is roughly equivalent to losing a complete master suite including the bathroom and walk-in closet.

Stamford:

OK, moving to Stamford now. The average home in this price bracket looked something like this at the beginning of 2022, and had approximately 4868 square feet above ground, 4.5 bedrooms, 4.1 full baths, 1.2 half baths, 2.6 garage spaces, was built in 1975 and had a lot size of approximately 1.52 acres.

By the end of 2022 the average home in Stamford will look something like this, with the most noticeable difference being a reduction of approximately 109 square feet. Which is roughly equivalent to losing a small bedroom or office.

Now, I know you might be thinking that there is more to consider than just the home, and I would agree. You are probably considering schools, crime rates, commute times, taxes and more. They are all important factors to most of our clients. You can find our town specific buyers guides here.

Darien:

But first, let's take a look at Darien. At the beginning of 2022, this is roughly what the average home looked like with approximately 3214 square feet above ground, 4.1 bedrooms, 3 full baths, 1.1 half bath, 1.8 garage spaces, was built in 1960 and was on a 0.85 acre lot.

You should expect the average home in Darien to look something like this by the end of 2022. With the most noticeable difference being the loss of 313 square feet, which is roughly like losing a complete master suite including the bathroom and walk-in closet.

New Canaan:

Next, let's head North to New Canaan. In the start of 2022 the average home looked something like this, with an average of 4056 square feet above ground, 4 bedrooms, 3.1 full baths, 1.2 half baths, 2.1 garage spaces and was built in 1969, and had a lot size of 1.99 acres.

Buyers should expect a reduction in buying power that looks something like this by the end of 2022. The square footage reduction of 605 square feet would be roughly like losing a complete master suite including the bathroom and walk-in closet, plus a large bedroom or office.

Norwalk:

Hopping over to Norwalk, at the start of 2022 the average home in this price bracket looked something like this with 3317 square feet above ground, with 3.9 beds, 3.1 full baths, 1.2 half baths, 1.9 garage spaces, and was built in 1968 with 0.66 of an acre.

Buyers should expect a reduction in buying power that looks something like this by the end of 2022. The most noticeable difference is the reduction of 149 square feet, which is roughly equivalent to losing a small bedroom or office.

Westport:

Alright, let's head over to Westport. In the start of 2022, the average home in this price bracket looked something like this, with an average of 3351 square feet above ground, 4.1 bedrooms, 3.2 full baths, 1.1 half bath, 1.9 garage spaces and was built in 1962, and had a lot size of 0.88 acres.

Buyers should expect a reduction in buying power by the end of 2022 that looks something like this. The loss of 377 square feet is roughly like losing a complete master suite including the bathroom and walk-in closet.

Fairfield:

OK, let's take a look at what you will get in Fairfield. In the start of 2022 the average home in this price bracket looked something like this, with an average of 4344 square feet above ground, 4.5 bedrooms, 3.8 full baths, 1.4 half bath, 2.3 garage spaces, was built in 1971, and had a lot size of 1.22 acres

Buyers should expect a reduction in buying power of about 162 square feet by the end of 2022. Which is roughly like losing a small bedroom or office.

Wilton:

Next, let’s head to Wilton. In the start of 2022 the average home in this price bracket looked something like this, with an average of 4681 square feet above ground, 4.5 bedrooms, 4 full baths, 1.4 half bath, 2.6 garage spaces and was built in 1982, and had a lot size of 2.29 acres

Buyers should expect to experience a reduction in buying power that looks something like this by the end of the year. The reduction of 456 square feet is like losing a complete master suite including the bathroom and walk-in closet, plus a small bedroom or office.

Weston:

In the start of 2022 the average Weston home in this price bracket looked something like this, with an average of 4208 square feet above ground, 4 bedrooms, 3.7 full baths, 1.1 half bath, 2.4 garage spaces and was built in 1980, and had a lot size of 2.23 acres

Buyers should expect a reduction in buying power that looks something like this. The reduction of 536 square feet will feel similar to losing a complete master suite including the bathroom and walk-in closet, and a large bedroom or office.

Metrics & Analysis:

Alright, now let's see how the towns compare on a few important criteria.

This is how the towns compare, in terms of the average lot size, in the $1.5-2MM price bracket. If you want the largest lot, the towns of Wilton, Weston and New Canaan will be your best bet.

Take a look at this graph If it's the most square footage that you are after. You can see that the towns of Stamford, wilton and weston are your best bet.

And if you are looking for the newest home in the $1.5-2MM price bracket. Here’s how the towns compare. For the newest home, you may want to consider the towns of Wilton and weston.

Wrap-Up:

If you are thinking of moving to Connecticut's “Gold Coast”, I would like to work with you. If you aren't ready to call us yet, check out the rest of our website: CharlieVinci.com and grab one of the many guides, maps and checklists that we have created for you. They will save you hundreds of hours of research, and help you make a better choice for you and your family.

I look forward to hearing from you!

Best,

Charlie Vinci

Lower Fairfield County Realtor

203.952.7752

charlievinci@gmail.com

About the Author:

Charlie Vinci, the Founder and Lead Agent of the Charlie Vinci Team has become a mainstay in Connecticut’s real estate market, earning accolades as one of the top 3% of realtors within the state. Fueled by a dedication to the success of his clients and an ever-growing assortment of area-specific resources, the business continues to thrive in the constantly evolving real estate marketplace. An informative YouTube presence has been the primary driver/focus for the team, as it has allowed Charlie to engage directly with his audience and provide a consultative approach to an often ambiguous process. Whether an international client seeking relocation to the US or a local homeowner considering the sale of their property, The Charlie Vinci Team has the market knowledge, resources, and expedient level of service that clients not only desire, but deserve.

2022 Moving to CT $1.5MM - $2MM Buyer's Guide