Fairfield County Homes for Sale: May 2011

Black Rock Market Update - May 29, 2011

The Spring real estate market continues to be a busy one in Black Rock: 3 single family homes, 11 condo/co-ops, and 6 multi-family properties have sold.  Two single family, 4 condo/coop units, and 2 multifamily properties are Under Deposit.  Two single family and 5 multi-family properties are Pending.

The median list price for a single family home in Black Rock right now is $402,000 with prices ranging from $99,900 for a half-duplex on Shell Street to $2,599,00 for a home at 155 Battery Park Drive. The bottom of the market bargains are history for single family homes, but not for condos and multifamily properties. With 43 condo/coop listings on the market and a median list price of $158,000, there are still plenty of bargains, but don't expect them to last. Multifamilies at lower price points are also selling well. Rentals are scarce and rents are rising, so savvy investors are buying multifamily properties while prices are low.

There are increased showings on high end properties and potential buyers are coming primarily from Westport, Weston, Wilton, Redding, and Manhattan. Many are using the Internet to find their home in Black Rock, very few are coming through print advertising. A number of potential buyers find their Black Rock home en route to one of the yacht clubs or to visit a Black Rock friend. There appears to be a buzz about Black Rock in local suburban towns among downsizers looking for an affordable water community. The new train station which is anticipated to begin operating in October and the opening of the Whole Foods store in June are added attractions.  In addition, Black Rock placed extremely well in the arts, entertainment, and dining categories in the Fairfield County Week Poll for the Best of Fairfield County for 2011.

 



 

 

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Comment balloon 0 commentsGail Robinson • May 29 2011 01:33PM
Black Rock Market Update - May 29, 2011
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The Spring real estate market continues to be a busy one in Black Rock: 3 single family homes, 11 condo/co-ops, and 6 multi-family properties have sold. Two single family, 4 condo/coop units, and 2 multifamily properties are Under Deposit. Two… more
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