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