If you want to analyze the market in a specific neighborhood, you can create a custom market report. You'll be able to see all the property details, how much it sold for, and how long it took to sell. Don't forget to save your market report for monthly updates.
*All market data can be found at the bottom of this page
To give you a better perspective, let's look at how things were before the recent market boom so you can make the best decision on whether to buy or sell. As a bonus for buyers, I have a really great loan program that is going to save you a ton of money.
If you are new to my website, my name is Charlie Vinci and I am a Darien Realtor. The graphs in the "Darien CT Real Estate Market" section are updated on the first of every month. While you are here, you can create a custom market report below to get updated on the exact segment of the market that is most important to you.
We are going to start with the median percent of list price graph. Darien is down to …WOW, 98.4%. As you can see from the 5 year trend, it's not as low as 2020, but still a noticeable drop from last year. Could the tides be turning in Darien? I think we will have to take a look at the rest of the data.
Here's the median sales price graph with Darien up to $2.35MM. That's quite strong. If you remember, last month in September this dropped to $1.2MM and I said that the small data set was to blame, this seems to prove that metrics sometimes jump around in the towns with a lower number of sales.
This is the months of supply graph. We are creeping up a bit, but as you can see by the 5 year trends it’s still very low and may be challenging for buyers that don't move quickly. The good news for buyers is that you will see some of the best deals of the year between now and January.
If reading this has you wondering what your property is worth, you can get an estimate by using our Home Valuation tool.
Homes for sale are still trending down with just 53 homes for sale in Darien. Take a look at the 5 year trend. Look how far Darien has come. IF you are a buyer who is concerned about the low inventory, the closed sales graph should give you some comfort.
Here's the closed sales graph. So we are down to 20 closed sales in Darien, which is way down from the 48 sales in 2020. But take a look at the years of 2019, 18 and 17. Notice how low sales were pre- covid? It's not that there isn't enough inventory, it's that homes are selling faster now, and the buyers need to move quicker to get the best homes.
You can analyze what has sold near you by using our Sold Property Search and Interactive map.
Quick Tip: Zoom in on your home for nearby sales.
Let's take a look at our future market, and see how many pending sales we have in Darien. Wow, we are down to 19 pending sales. That's way down from the previous 2 years, and still a little low compared to our pre-covid market. We will have to pay attention to see what happens in the coming months.
If you'd like to see what is available in Darien right now, you can click here to perform a Darien Home Search.
This is the median days on market graph, as you can see we hit 40 days, and this metric is still looking strong compared to the 5 year trend.
In summary, despite the drop in percentage of list price, the other metrics look strong.
While I can already see signs that the market is getting better for our buyers, the ones who are successful are STILL the ones who are prepared and move quickly when they find the right house.
The sellers that are struggling right now need to do a price drop quickly so they can take advantage of the small amount of the fall market that is left.
Buyers, there will be some very good deals between now and January, you should be ready to pull the trigger if the right opportunity presents itself.
If you are concerned about the market having a major price drop, read the New York Post article, it uses redfin data to determine the most stable markets in the US, and all three of Connecticut's metro areas made the top 20 list. The link is in the video description and the the full market report.
If you are looking for a great loan, Newtown Savings seems to have the best at the moment, it's around 5% fixed for 30 years, no points. Call them at the number on the screen. They are very busy, so please be patient with them and keep following up. A 1% increase in APR equals roughly a 10% increase in your mortgage payment. James Philipakos - 203.856.4771
If you are thinking of buying or selling, and don't currently have an agent, don't hesitate to call me. I would be happy to talk about your sale or purchase. You can find my contact information below.
I look forward to hearing from you!
Each data point represents the past 3 months of data, so you can easily examine the macro level trends of the Darien CT Real Estate Market.
*All Data comes directly from the Realtor's database, the SmartMLS, and is updated on the first of each month.
Quick Tip: Maps are interactive. Touch or Hover to use.