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October 16, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Fairfield County predicted to have higher-than-average home sales in Q3

Connecticut will see higher-than-average home sales during the third quarter, with most of the activity taking place in Fairfield and New Haven counties, according to a new report.

ATTOM Data Solutions, a property research firm based in Irvine, California, based its forecast on purchase loan applications and “good faith estimates” to analyze the number of homes likely to be sold in a given area.

Connecticut was one of 17 states to best the national average score of 100, with 118; Fairfield and New Haven counties each scored a 156. The data does not reveal whether people are moving into or away from a given area; Nevada, which has a large number of people moving into the state, scored a 164, while Illinois, which has a high number exiting the state, scored a 196.

Connecticut has experienced a net loss of residents every year since 2013. Last year, the state ranked fourth for people moving out, with international immigration keeping its population flat.

The average estimated value of homes for sale in Connecticut is $345,925, according to ATTOM, a year-over-year increase of 38 percent. The average estimated property value in Fairfield County of those projected to sell in the third quarter is $521,346.

The average Fairfield County property tax was $10,612, according to ATTOM’s analysis of property tax data in 2017, the 8th highest of the 1,414 areas it analyzed.