2020 Year End Summary: Stratford, Connecticut Real Estate Market

As 2020 comes to a close, there is no sign of the housing market slowing down in Connecticut. According to Zillow (and from our own observations) Stratford’s 06614 zip code saw housing prices rise by an incredible 12.5% over the past 12 months. The upward trend is expected to continue by another 11.5% next year in 2021. Home prices continue to rise in Stratford as New Yorkers continue to flee high cost housing and high taxes to Fairfield County Connecticut’s relative bargain pricing. It truly is a bargain when compared to New York City and Westchester rates.

Historically, Stratford has been the most affordable town in Fairfield County. It largely still holds this title, though prices are rising to meet the strong demand from homebuyers looking for more space in town. Stratford is a mix of suburban and shoreline neighborhoods that experienced widespread development after World War II in the 1950’s through the 1960’s. For the most part, any land worthy of development has been developed long ago.

With strong prices and demand in 2020 however, new construction has taken off again in 06614. Developers have found the few remaining buildable lots to build on, now that prices support such development. Town officials seem eager to grant any permit that brings new tax base to town.

Lordship, the beautiful shoreline neighborhood has seen both tear-downs with new homes built as well as once vacant lots sold and permitted for new building. We also wrote about this beautiful new home newly constructed on Park Boulevard this year. In the Paradise Green neighborhood in the North-end of town, more new construction was seen at Cutspring road adjacent to the Mill River Country Club golf course. Three new homes all next to each other were built in 2020 with the third home nearing completion as of December 27, 2020.

Another new construction at the North-end located on Wakelee ave recently went under contract at $469,000 within just one week of being listed in the fall of 2020. On the West-end of town near the Bridgeport line, new construction is seen there, too. Perry lane has two new listings which are currently offered for customization (pre-construction) at $495,000 for 3 bedroom, 2.5 bathroom homes with two-car attached garages.

Fairfield County’s best kept secret, I’m afraid to say, is no longer a secret. With new buyers and investment coming in from New York, prices and a competitive market are here to stay for the foreseeable future.

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Information posted is merely the opinion of Time or Space for entertainment purposes only. All information published can be found in Town Records which is made available to the Public.

Suggested Reading:

Financial Freedom with Real Estate Investing

Modern Real Estate Practice

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