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Elliman Report: Fairfield County Sales 1Q 2016

Like most of the suburban markets in the New York City metro area, sales in Fairfield County were at or near record levels. The number of sales increased 8.7% to 1,961 from the year ago quarter to the highest first quarter level in a decade. Sales were up across both major housing types. Listing inventory edged 1.3% higher to 5,903 over the same period. With sales rising faster than inventory, the pace of the market was faster. The absorption rate, the number of months to sell all inventory at the current rate of sales, fell 12.3% to 9 months from the year ago quarter…

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