Week 14: Why Do Showing Agents Matter? John Engel’s Real Estate Column for the New Canaan Sentinel
Is it possible that 1.5 million agents nationwide are “winging” it, showing houses based on experience and instinct, and in this case not at all?
Week 13: $3 Million. John Engel’s Real Estate Column for the New Canaan Sentinel
The $3 million market is a very active price point in New Canaan right now One of our clients closed on the purchase of a $3.5 million home last week, while another of our clients closed on the sale of his $3.25 million home. Two others are contemplating putting their houses on in the mid […]
Week 12: Winter is Coming. John Engel’s Real Estate Column for the New Canaan Sentinel
Bidding wars are at an all-time high throughout the New York metro area, but as you can see inthe chart Fairfield County’s level of 61.7% is higher than that of the luxury markets around us and significantly higher than that of Greenwich (42.9%) and Westchester County (53.5%). Why? What’s the difference? At first blush it seems there are two factors at play. First, in the urban markets of Manhattan, Queens and Brooklyn we have not seen as significant a reduction in inventory levels as compared to normal levels as we have in the suburbs. Second, can we draw the conclusion that the more expensive ultra-lux markets of Greenwich and the Hamptons have fewer bidding wars than less-expensive county-wide markets? Prices have fallen in Manhattan,Queens and Brooklyn, according to Zillow, while rising everywhere outside the city.
🏡 Fairfield County: Real Estate Rising? The Engel Team Q3 Market Report
How do we differentiate between moderately strong and strong in the town by town analysis below? Mostly we looked at price appreciation. Those towns which are still seeing price appreciation above 5% annually are characterized as strong. This is a better metric than days on market or percentage of asking price.
DEKF Ski Property Report 2024
With the release of the 2024 Douglas Elliman | Knight Frank Ski Property Report, three Elliman agents—Riley Warwick (RW), Melanie Muss (MM) and Raifie Bass (RB) discussed the state of the ski property market in Aspen, Colorado, with Kate Everett-Allen, Head of Global Residential Research for Knight Frank. Their conversation follows.
Week 11: Fairfield County Market Report: Third Quarter. John Engel’s Real Estate Column for the New Canaan Sentinel
How do we differentiate between moderately strong and strong in the town by town analysis on page 14 at left? Mostly we looked at price appreciation. Those towns which are still seeing price appreciation above 5% annually are characterized as strong. This is a better metric than days on market or percentage of asking price. […]
Week 10: How to Price Property, and Why It Matters. John Engel’s Real Estate Column for the New Canaan Sentinel
Price per square foot is a common metric used in real estate to measure and compare the value or cost of properties. It represents the price of a property divided by the totals quare footage of that property. Price per square foot allows buyers, sellers, and real estate professionals to compare the cost or value […]
Week 9: Fairfield County Market Report Q3. John Engel’s Real Estate Column for the New Canaan Sentinel
Darien is strong and strengthening with values rising by 4.5%. The year-to-date numbers show roughly 20% fewer listings and sales than last year, but September saw an increase in listings, pending sales and closed sales versus the previous September. Average and median prices are rising at a double-digit rate and represent new 20-year highs over […]
Week 8: Condo Report. John Engel’s Real Estate Column for the New Canaan Sentinel
Condo Report Eight condominiums have sold in the last 30 days; another six condominium sales are currently pending. This has been a strong season for condo sales, perhaps because of the lack of single-family houses in our inventory. Typically, over the last 15 years, New Canaan has sold about four condos per month. In the […]
Week 7: Top Questions and Answers. John Engel’s Real Estate Column for the New Canaan Sentinel
What is the state of the real estate market in New Canaan, Connecticut? We are still in a seller’s market moving toward a more balanced stateas prices rise by 3% annually. Affordability has decreased as a result of price and interest rate movement. Scarcity isdriving price appreciation. What are questions and concerns potential buyers and […]
