Fairfield’s prices continue to rise and the market is a healthy one with a trend of higher prices and fewer days on market. Fairfield remains in a Buyer’s Market with 7.91 months of inventory, but the Three Month trend of 6.4 months is almost in Seller’s market territory (less than 6 months of inventory).
There have been 15 sales over $2 million in Fairfield in the past 12 months. The lowest sale price was $90,000 and the highest was $5.95 million. The median sale price was $535,000.
In retrospect, it looks like Fairfield hit bottom in Q1 2012 and a recovery is now underway.
What homes are most in demand by buyers in Fairfield? The sweet spot in the market is for 3 bedroom homes listed between $450,000 to $475,000 and selling at 95% of list price after 107 DOM.