“Obviously, it is different in Westport,” stated Linda Skolnick, a Realtor in Coldwell Banker’s Westport office. “Entry-level houses here can range from between $600,000 to $1 million. We don’t have houses at $500,000. There are some at $600,000 and a lot of condos, but very few houses.”
So, where are the best places for entry-level homebuyers in Fairfield County? Adams noted that Greenwich’s “lower-priced properties are still selling,” although Stacey Loh, executive vice president of the Greenwich Association of Realtors, noted that pricing in her town’s entry-level housing market is uncommonly wide.
“Price points range from $300,000 up to $800,000 in our market,” she said. “Generally speaking, the median price is close to $2 million. When the lower-priced houses come on and are priced fairly, there are buyers to scoop them up.”
Melissa Rwambuya, a senior sales associate with William Raveis’ New Canaan office, promoted New Canaan as a popular location for entry-level homebuyers who are looking for residences at the higher end of the spectrum.
“In the past 12 months, we’ve either sold or (had) pending sales on 89 properties between $700,000 and $1.25 million,” she said.
She added the town “definitely has a lot to offer first-time homebuyers. New Canaan taxes are lower than the surrounding towns and we are a wonderful walking town — walkability is very high on the list of millennials who are used to walking around Brooklyn or Manhattan. And unlike other towns around us, New Canaan has a very, very attractive downtown.”
Cynthia Hughes, a Realtor with Coldwell Banker in Danbury, pointed out that northern Fairfield markets are offering entry-level homebuyers lower property taxes than the markets to the south along with access for traveling to lucrative jobs in New York City.
“I commuted into the city for 30 years,” said Hughes, a Danbury native. “We are close to the rail line. Bethel has its own train station, and in Brookfield you can just jump on I-84 and go right over the border. We have a high level of commuters.”
On the eastern side of the county, Mark Markelz, a real estate agent in William Raveis’ Southport office, held up Shelton as a hot spot for entry-level homebuyers.
“Shelton is coming in at a median price point of $350,000,” he said. “It has lower property taxes compared to other communities and it has built up a strong business market over the years.”