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Elliman Report: Fairfield County Sales 2Q 2016

The sales surge across Fairfield County continued much like the rise in activity observed in adjacent counties that surround New York City. The number of sales jumped 30.9% to 3,944 from the year ago quarter and was the highest second quarter sales total in more than a decade. Single family sales increased 34.9% to 3,082 and condo sales rose 18.4% to 862 respectively from the prior year quarter. Renters and homeowners priced out of New York City have been seeking more affordability in the outlying suburbs in high numbers over the past year. However the surge in sales has not caused housing prices to rise, given the amount of slack that remains in the market…

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