Ocean Reef Condos in Fairfield, CT

Address: 2 Ocean Reef, Fairfield, CT
Total Units: 11
Year Built: 1985
Bedrooms: 2
Verified Sale Price Range: $458,000 – $674,000
HOA Fee: $450/month (varies by unit; recent sales show $400–$635/month)
Property Tax: Approximately $7,648/year

Opening Overview

Ocean Reef is a small condominium community in Fairfield, CT, with 11 townhouse-style units built in 1985. Four recorded MLS sales over the past several years closed between $458,000 and $674,000, with a median sale price of $563,700 and a median price per square foot of approximately $327. That price range puts Ocean Reef well below Fairfield’s overall median sale price, which reached roughly $1,072,500 in early 2026. For buyers who want a foothold in Fairfield without competing in the single-family market, Ocean Reef is one of the more affordable options in town. Turnover is thin, four sales across several years in an 11-unit complex, so when a unit comes available, buyers need to be ready.

Ocean Reef Condos for Sale

Active inventory at Ocean Reef is not something that sits on the market. With only 11 units in the complex and fewer than one sale per year on average, buyers who are specifically targeting this address should set up an alert and be prepared to move quickly. The broader Fairfield CT condo market has been running at roughly 1.2 months of inventory, meaning supply is tight across all condominium categories in town. No verified active listings are confirmed at time of writing. For the most current availability at Ocean Reef, contact The Engel Team directly. Off-market awareness matters in a complex this small.

Recently Sold at Ocean Reef

MLS records show four closed sales at Ocean Reef. Prices ranged from $458,000 in September 2018 to $674,000 in May 2023. Both of the more recent sales, in late 2022 and mid-2023, cleared $649,000, which reflects meaningful appreciation from the two earlier transactions. All four sales involved 2-bedroom, 3-bathroom units. Square footage varied considerably in the MLS records, from 1,600 to 1,920 square feet in three of the four transactions. The median price per square foot across the verified sales was approximately $327.

Buyers and sellers should note that HOA fees recorded in these transactions ranged from $400 to $635 per month, a spread that warrants direct verification with the association before relying on any single comp for budgeting purposes. Four sales is a thin comparable set. Pricing a unit here requires a careful read of condition, renovation level, and timing within the broader Fairfield condo market, not just a straight-line extrapolation from prior closings.

About Ocean Reef

Ocean Reef is a townhouse-style condominium community located at 2 Ocean Reef in Fairfield, CT. The complex was built in 1985 and contains 11 units. Its small scale is one of its defining characteristics. Eleven units means tighter community dynamics, lower association overhead per unit in theory, but also less financial cushion if major capital expenditures come up. The setting and exact proximity to Fairfield’s shoreline should be verified directly, but the name and location data suggest a coastal or near-coastal position in a town that has two public beaches, Penfield Beach and Jennings Beach, within its borders. Buyers with waterfront adjacency in mind should confirm the specific siting relative to those beaches and Long Island Sound before drawing conclusions from the address alone.

Homes and Layouts at Ocean Reef

Every verified sale at Ocean Reef involved a 2-bedroom, 3-bathroom unit. The townhouse style suggests a vertical layout, likely with living space on one level and bedrooms above or below, which is typical for 1985-era attached townhouse construction in Fairfield County. Unit sizes in three of the four MLS records ranged from 1,600 to 1,920 square feet. The fourth recorded a substantially higher square footage figure, which may reflect a data entry variation in the MLS and should be verified independently rather than taken at face value. Parking arrangements, basement access, and private outdoor space, whether deck, patio, or yard, are worth confirming unit by unit, as these features vary in townhouse communities from this era and affect livability and resale significantly.

What Buyers Need to Know

Ocean Reef was built in 1985, which puts the complex at approximately 40 years old. For a buyer purchasing in a building of this age, the reserve fund is the first document to request. An underfunded reserve in an 11-unit complex is more consequential than in a larger association, because any major repair to shared systems or structure gets divided across a smaller contributor base. Ask for the most recent reserve study and the association’s current reserve balance before making an offer.

HOA fees in the recent sales data ranged from $400 to $635 per month. That spread is wide enough that buyers should request current fee documentation directly from the association rather than relying on any individual closed sale. The verified property tax figures from recent closings ranged from $7,379 to $8,849 annually, with the listing-level figure of $7,648 falling within that range.

Given the coastal or near-coastal location implied by the address and complex name, flood zone classification is a due diligence priority. Buyers should pull the FEMA flood map designation for the specific parcel, confirm whether flood insurance is required or advisable, and understand whether the master condominium policy covers flood or whether individual unit owners carry separate coverage. Flood insurance costs in Fairfield’s shoreline areas can add materially to carrying costs and should be factored into any offer budget.

Rental rules, pet policies, and owner-occupancy ratios should be confirmed with the association directly. In an 11-unit complex, a high investor-ownership ratio can complicate conventional financing. Buyers using conventional loans should ask their lender to run a warrantability check on the project before going under contract. Renovation variation between units is likely at this age. A 2023 sale and a 2018 sale in the same floor plan can represent very different conditions, so buyers should inspect carefully and not assume uniformity across units.

Buying or Selling at Ocean Reef

Selling at Ocean Reef requires a pricing approach built around thin comps. Four sales over multiple years means there is no clean pricing grid. The right number depends heavily on unit condition, renovation level, HOA fee history, and where the broader Fairfield CT real estate market is trading at the moment of listing. The Engel Team can run a current valuation specific to your unit and position it against active Fairfield condo inventory to find the number that attracts serious buyers without leaving money on the table.

For buyers, the goal is to be informed before a unit becomes available, not after. Off-market awareness in a complex this small can be the difference between getting a showing and missing the listing entirely. The Engel Team monitors the Fairfield condo market actively and can alert you when a unit at Ocean Reef or a comparable property comes to market. To explore Fairfield homes for sale more broadly, or to get a current valuation on an Ocean Reef unit, reach out directly. This is a market where preparation matters more than speed.

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