To buy a condo or to buy a single family, that is the question…

Why haven't we seen any appreciation in condo values?

Currently, we’ve been fairly flat year over year, and a slight increase over the last 5. Some of the reasons could be the huge influx of NY buyers looking for more space, specifically green spaces, and primarily looking to buy Single Family properties.

Since January last year we have seen almost a 30% increase in the average sale prices of single family properties. This doesn’t mean each properties value has gone up 30%, however we are seeing the higher end of the market move along with almost no “affordable” inventory under $500,000 in the greater Stamford area.

We don’t expect this market to change too much for the next year unless something major happens. We have a lot of built up demand and for the most part the potential buyers in Fairfield County have remained fully employed.

In the end, we expect the single family properties to remain too expensive for the average buyer AND we think the trend will go back to normal where we have buyers coming back to the worry free lifestyle of a luxury condo as long as HOA fees don't get in the way.

HAPPY HUNTING TO ALL!