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According to the newest market report conducted by Douglas Elliman, sales prices are falling rather steeply in Fairfield, Connecticut—an area that's becoming increasingly popular with entry-level buyers who've left New York City for more space and cheaper living expenses. The median sales price, according to the report, is a surprisingly affordable $360,000.
Since mid-2015, says Jonathan Miller, author of the report, "Fairfield County, Connecticut, just like the adjacent counties of Westchester and Nassau that border New York City, continues to see a surge in sales volume. Homebuyers and renters priced out of the city are looking to these suburban markets as a more affordable alternative."
Though it's priced slightly higher than the median, this $399,900 four-bedroom, two-bath house in Trumbull, which just saw a nearly 5 percent price decrease, is just the kind of place we'd imagine former New Yorkers would jump on; especially those of who work in Connecticut—it's about an 80-minute train from nearby Bridgeport to Grand Central, but only about 30 minutes to both Stamford and New Haven. Yearly taxes are under $7,000.
At just over 1,600 square feet, the house is not huge, but a decent amount of outdoor space makes it feel roomier. The first floor has a sitting room or office, a master bedroom and bathroom, a living room/dining room, and a kitchen that would probably only need small updates (appliances are stainless, cabinets are wood). Upstairs, there are two large bedrooms and an updated bathroom.
The house, built in 1950, and represented by WIlliam Raveis, has recently been updated, with a "newer" (read: not new) roof, freshly painted interior, all new trim and crown molding, recessed lighting, central air, and a hot tub. There's also a two-car garage.
There's a spacious backyard, a new patio, and a basketball court: Suburban living at its finest.
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