The Darien market is showing signs of slowing down. With only 6.7 months of inventory (the 12 month figure is used for the absorption analysis), it is still almost a balanced market (less than 6 months of inventory indicates a Seller’s Market.), but the trends are no longer strongly pointing to a Seller’s Market. The three-month figures show an increase in inventory.
The lowest sale price over the past 12 months was $350,000 and the highest was $11,500,000. The median sale price was $1,200,000. There were 46 sales over $2,000,000.
The good news is that prices have been increasing over the past three months. This is a positive trend in a market with mixed signals.
Darien sales have increased in number and in price over the past year. In retrospect, it looks like the Darien market hit bottom in the Q1 2012 and the market recovery that began in Q2 2012 slowed down for a while, but has recently picked up. Recovery signals are still mixed according to this trends analysis.
HOTTEST HOMES IN DARIEN
What homes are most in demand by buyers in Darien? The sweet spot in the market is for 4 bedroom homes with a list price of $1.4-1.5 million. They tend to be on the market only 108 days and sell for 96% of list price.