Fairfield, CT March 2025 Real Estate Market Report: Insights & Forecast
Assembled by: Judy Michaelis, 203-247-5000
Market Trends Report
Overview
The overview below shows real estate activity from January 2025 to February 2025. You will see data comparisons between February and the previous month, the last three months and February 2024.
| Overview | YTD Avg. | February | January | Nov. – Jan. | Feb. 2024 |
|---|---|---|---|---|---|
| New Listings | 95 | 51 | 44 | 32 | 58 |
| Average Sales Price per Square Foot | 522 | 446 | 597 | 494 | 350 |
| Average Days on Market | 66 | 67 | 64 | 59 | 58 |
| Number of Properties for Sale | 157 | 67 | 90 | 105 | 112 |
| Average List Price | $1,525,091 | $1,486,234 | $1,563,947 | $1,682,770 | $1,584,353 |
| Median List Price | $924,450 | $874,900 | $974,000 | $1,001,233 | $854,500 |
| Average Sales Price | $1,550,445 | $1,395,815 | $1,705,074 | $1,378,865 | $1,024,994 |
| Median Sales Price | $1,225,000 | $1,200,000 | $1,250,000 | $1,016,667 | $820,000 |
| Sales Price / List Price Ratio | 100.58% | 100.61% | 100.54% | 101.27% | 100% |
| Number of Properties Sold | 54 | 27 | 27 | 46 | 17 |
| Month’s Supply of Inventory | 2.9 | 2.48 | 3.33 | 2.6 | 6.59 |
| Absorption Rate | 0.35 | 0.4 | 0.3 | 0.45 | 0.15 |
Average & Median Sales Price
The median sales price in February 2025 was $1,200,000, down -4.00% from $1,250,000 from the previous month and 46.34% higher than $820,000 from February 2024. The February 2025 median sales price was at its highest level compared to February 2024 and 2023.
The average sales price in February 2025 was $1,395,815, down -18.14% from $1,705,074 from the previous month and 36.18% higher than $1,024,994 from February 2024. The February 2025 average sale price was at its highest level compared to February 2024 and 2023.
Sales Price / List Price Ratio
The sales price/list price ratio is the average sale price divided by the average list price for sold properties expressed as a percentage. If it is above 100%, homes are selling for more than the list price. If it is less than 100%, homes are selling for less than the list price.
The February 2025 sales price/list price ratio was 100.61%, equal to the previous month and equal to February 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in February 2025 was 27, equal to the previous month and 58.82% higher than 17 from February 2024. The February 2025 sales were at its highest level compared to February 2024 and 2023.
Absorption rate is the avg number of sales per month divided by the total number of available properties.
Average Days on Market
The average days on market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM tends to indicate a move towards a buyer’s market, a downward trend tends to indicate a move towards seller’s market.
The DOM for February 2025 was 67 days, up 4.69% from 64 days from the previous month and 15.52% higher than 58 days from February 2024. The February 2025 DOM was at a mid level compared with February 2024 and 2023.
Average Sales Price per Square Foot
The average sales price per square foot is a more normalized indicator for the direction of property value. The sales price per square foot in February 2025 was $446, down -25.29% from $597 from the previous month and 27.43% higher than $350 from February 2024.
Inventory & MSI
The number of properties for sale in February 2025 was 67, down -25.56% from 90 from the previous month and -40.18% lower than 112 from February 2024. The February 2025 inventory was at its lowest level compared with February 2024 and 2023.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The February 2025 MSI of 2.48 months was at its lowest level compared with February 2024 and 2023.
New Listings
The number of new listings in February 2025 was 51, up 15.91% from 44 from the previous month and -12.07% lower than 58 from February 2024. The February 2025 listings were at its lowest level compared to February 2024 and 2023.
Judy Michaelis
203-247-5000
judy.michaelis@coldwellbankermoves.com
judymichaelis.com
Coldwell Banker Realty
203-227-8424Prefer the quick version? Here's a snapshot of the February 2025 Fairfield Market Update:
Home prices pulled back slightly – Median sales price is $1.2M. That's down 4% from last month but still up a strong 46% from last year.
Homes are taking slightly longer to sell – Average days on market is now 67, up 5% from 64 last month and 16% higher than last year's 58 days.
Inventory dropped significantly – 67 homes for sale, down 26% from 90 last month and down 40% from a year ago. Supply is extremely constrained!
Sales activity held steady – 27 homes closed in February, same as last month but up 59% from last year's 17.
What Buyers and Sellers Need to Know
Sellers: Homes are selling right at asking price (101% of list price) and inventory is at multi-year lows. You have strong pricing power despite the slight uptick in days on market.
Buyers: Competition remains fierce with severely limited inventory, though homes are no longer selling above asking price. The modest increase in days on market suggests you may have slightly more time to evaluate properties.
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