In Focus: Darien Market

Darien is a great example of what is going on with the current market and can give us insight into other desirable luxury towns in the area and the market as a whole. 

Prior to Covid shifting buyers’ wants and needs, Darien was on the downline for the past five years with a drop in median sales price from $1,526,000 to $1,275,000. Since the bottom of the market in 2019, the median sales price has increased to $1,642,000. During this time we have seen unprecedented amounts of cash offers from buyers from NYC moving out to during the beginning of Covid and realizing they enjoy the life Fairfield County has to offer. 

The currently only 16 Active single-family listings in Darien. Of those 16, only 8 have been on the market for less than 30 days. We saw a major inventory issue last spring as buyers bought up anything available and compromised on the property suiting their needs. We fully expect this to continue as we have around a third of the listings year over year and only 17% of the typical listings prior to covid. 

You may think this all means that transactions aren’t happening and the total volume of transactions is down. That couldn’t be further from the truth. While we are having an issue with listings being active on the market, we are also experiencing a surge in homes trading hands. 

Our advice on winning multiple offers and getting into the town, school system, area, property you want:  

• Be aggressive with your offer price

• Make quick decisions

• Find out the motivations of the sellers.

• Make the terms as agreeable as possible

• Get creative in ways other offers aren't

• Hire us to get the job done!