According to new data from the School of Business’s Center for Real Estate and Urban Economic Studies, the value of a single-family home in Fairfield fell 2 percent in the second quarter of 2012.
The year-over-year decline—from $423,123 to $414,615 for a so-called “mid-tier” home—continues a , which hasn't seen an increase in home values since the first quarter of 2008, according to the UConn center.
The center defines a “mid-tier” home in Fairfield as 46 years old and with 1,586 square feet. Each quarter, the center produces “ constant quality indices” that track the changing value of homes in Connecticut towns by minimizing variables such as inflation and seasonality, as well as the effect a low-volume sales quarter has on average prices.
Fairfield’s decline is not unusual for Fairfield County.
Among 18 towns in the county whose data is tracked by the center, just five municipalities—Bridgeport, Darien, Greenwich, Stamford and Trumbull—saw single-family home values increase
Use the search form above to track the change in estimated values of a mid-range home quarter by quarter since 2000. Interested in all things Fairfield?
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year-over-year for Q2. On average, the value of single-family homes in those 18 towns fell 4.8 percent from 2011 to 2012 in the second quarter, according to the center.
Join a local conversation on real estate value: A , and each story includes a narrative summary of second quarter data.