Since Connecticut is an easy commute to New York City and has very good schools, real estate is in high demand. In Fairfield, houses were on the market for 60-90 days, but had an average sale price of $1.5 million. This is equal to the price as last years houses were getting in the summer. Most of the housing activity is from buyers taking advantage of low rates and moving up in house size.
Nearby Greenwich has home sales averaging $3 million, and sitting on the market for 60-90 days, even with a surplus of buyers. Price appreciation across the state has leveled off, and is between 0-5% higher than 2005. Sellers are getting between 90-100% of asking price when they do sell.