This month we looked at total dollar volume as an indicator of market health. Three towns stand out posting solid dollar volume numbers: Darien, Old Greenwich and Rowayton. The rest of Fairfield County are posting fewer transactions, a lower price, or both.
We also looked at property taxes. Specifically, we posted the current mill rates alongside the average and median house prices. Intuitively, we know that as tax rates rise, prices fall. This month provides a useful reminder what people actually pay in property taxes town by town.
No sign of a recovery in August. Avg. house is now $1.42 million. Avg. condo is $773,652
Mill rate is 11.682 so the avg. tax is $16,588.
Darien – Dollar volume is up 1% in 2019. Condo sales are up 100% since last year. Avg house is now $1.530 and avg. condo is now $952,170. Median house is $1,250,000, down 12.4%
Mill rate is 16.47 so the avg. tax bill is $25,199.
Median tax bill is now $20,587.
Easton – Dollar volume is down 7%. Inventory is down 18%. Avg. house is now $597,922.
Median house is now $560,000, down .3%
Mill rate is 31.33 so the avg. tax bill is $18,732.
Median tax bill is now $17,544.
Fairfield – Dollar volume is down 6%. Inventory up 3%. Average house is now $711,001 and condo is now $440,575. Median is $580,000.
Mill rate is 26.79 so the avg. tax bill is $19,047.
Median tax bill is $15,538.
Greenwich – Dollar volume is down 11%. Inventory is up 12%. The avg. house is now $2.82 million and condo is $986,826. Median house now sells for $1,950,000., up 5.4%
Mill rate is 11.682 so the avg. tax bill is $32,943.
Median tax bill is $22,780.
New Canaan – Dollar volume is down 10%. Inventory is down 17%. Avg. house is now $1.411 and avg condo rose to $704,609. Median house sells for $1,212,500., down 12%
Mill rate is 18.24 so the avg. tax bill is $25,736.
Median tax bill is now $22,116.
Norwalk – Dollar volume is down 11%. Inventory is flat. Condo inventory down 11%. Avg. house is now $574,723 and avg. condo is $304,211. Median house is now $489,500, down 5%
Mill rate is 23.315 so the avg. tax bill is $13,400.
Median tax bill is now $11,412.
Old Greenwich – Dollar volume is up 3%. Inventory is down 3%. Avg. house is $2.34 mm and avg condo has risen 12% to $575,500.
Mill rate is 11.682 so the avg tax bill is $27,336.
Redding – Dollar volume is down 12%. Inventory is up 16%. Terrible August down 52%. Average house is down 7% to $543,251. Median house is $535,000, down 3% from $553,000.
Mill rate is 32.84 so the avg. tax bill is $17,840. Median tax bill is now $17,569.
Ridgefield – Dollar volume is down 3.6%. Houses inventory is up 8%, condo inventory unchanged. The avg. house costs $713,834, avg. condo is $320,960. Median house is $638,000, down 1%
Mill rate is 28.12 so the avg. tax bill is $20,073. Median tax bill is now $17,940.
Riverside – Dollar volume is down 29%. Inventory is also down 26%. Avg. house price is now $1,960,584, condos prices are $679,750.
Mill rate is 11.682 so the avg. tax bill is $22,903.
Rowayton – Dollar volume unchanged. Active inventory of houses is up 25% since last year. Avg. house is now $1.162 million, up 2%. Median price is now $1,111,000, up a whopping 25.4% Mill rate is 21.395 so the avg. tax bill is $24,860. Median tax bill is $23,769.
Stamford – Dollar volume is down 8%. Strong August for sales, up 22%. Inventory down 3%
Avg house is $647,651 and condo is $329,230. Median house is $584,838, down 1%
Mill rate is 26.35 so the avg. tax bill is $17,065
Median tax bill is now $15,410
Weston – Dollar volume is down 2.5% and so is inventory after a weaker than usual August. Avg. house is $797,196. Median house is $699,000
Mill rate is 32.37 so the avg. tax bill is $25,805.
Median tax bill is now $22,626.
Westport – Dollar volume is down 27% Inventory down 14%. House prices are down 8% to $1.357 million. Condos prices are way down 23% to $479,939. Median is now $1,197,500, down 4%
Mill rate is 16.86 so the avg. tax bill is $22,879.
Median tax bill is now $20,189.
Wilton – Dollar volume is down 1% despite a decent August. Condo sales down 29%. Average house is now $790,787, condo prices down 17% to $329,127. Median is $722,500.
Mill rate is 28.53 so the avg. tax bill is $22,561.
