EASTON vs. LOWER FAIRFIELD COUNTY

Nestled in the heart of Fairfield County, Easton, Connecticut, is a charming, rural town known for its sprawling estates, lush greenery, and tight-knit community. With a population of just over 7,600 and a median home value exceeding $1 million, Easton stands out as one of the most expensive housing markets in Connecticut and, indeed, the nation. However, its unique position in the Fairfield County housing market makes it a fascinating case study: Easton is often the last town to see price increases during a bull market and the first to experience price declines when the market shifts to a bear phase. This blog delves into the reasons behind this phenomenon and explores actionable strategies for Easton to become a more community-centric and friendly town.

Why Easton Lags in Price Increases During a Bull Market

Easton’s housing market dynamics are shaped by its distinct characteristics. Unlike neighboring towns such as Fairfield, Westport, Darien or Wilton , which benefit from proximity to major transportation hubs, commercial centers, or coastal amenities, Easton is more isolated. The town lacks direct access to major highways or Metro-North train stations, making it less appealing to commuters who prioritize convenience to New York City or other urban centers. This is also the reason why lower Easton is generally more desirable for families. This relative inaccessibility dampens demand during bull markets when buyers flock to areas with better connectivity and amenities.

Additionally, Easton’s housing stock primarily consists of large, single-family homes, often with four or more bedrooms, catering to a niche market of affluent buyers seeking spacious, private estates. Data from NeighborhoodScout indicates that Easton has a higher proportion of such homes compared to 98% of communities in America. This focus on high-end properties limits the buyer pool, as fewer households can afford homes with a median sold price of $940,000 (as of March 2025) or a median listed price of $977,500 (January 2025). During a bull market, towns with more diverse housing options—such as condos, smaller single-family homes, or properties near amenities—attract a broader range of buyers, driving prices up faster.

https://www.neighborhoodscout.com/ct/easton/real-estate

Easton’s rural character also plays a role. While its serene, wooded landscapes and low population density are appealing to some, they deter buyers seeking vibrant, walkable communities with restaurants, shops, or cultural attractions. In a seller’s market, where demand outstrips supply, Easton’s lack of these features means it lags behind towns like Fairfield, where the median home price rose 9.1% year-over-year to $873,500 by February 2025, or Fairfield County as a whole, with an 8.4% increase to $609,598. Easton’s appreciation rate, while strong at 17.8% annually as of Q2 2024, is driven by a smaller, more selective market, resulting in slower price growth during bullish periods.

Why Easton Leads in Price Declines During a Bear Market

Conversely, when the housing market shifts to a bear phase, Easton is often the first in Fairfield County to see price declines. The same factors that limit its appeal in a bull market—high-end housing stock, limited accessibility, and lack of urban amenities—make it particularly vulnerable when demand wanes. Affluent buyers, who are Easton’s primary demographic, are more sensitive to economic downturns, as their purchasing power may be tied to volatile investments or bonuses. When market confidence dips, these buyers are quicker to pull back, reducing demand for Easton’s pricey homes.

Moreover, Easton’s homes are less liquid due to their high price points and specialized appeal. In March 2025, only 5 homes were sold or pending in Easton, compared to 790 in Fairfield County overall, highlighting the town’s lower transaction volume. In a bear market, homes in more affordable or amenity-rich areas, like Bridgeport or Fairfield, continue to attract buyers due to their broader appeal and lower price points (e.g., Bridgeport’s affordability draws New Yorkers, as noted by real estate agent Steven Lage). Easton’s inventory, which increased 31.6% from February to March 2025, can linger on the market longer, pressuring sellers to lower prices.

The town’s reliance on large, single-family homes also exacerbates price declines. In December 2024, 71.4% of Easton homes sold below asking price, a stark contrast to March 2025, when 60% sold above asking, reflecting the market’s volatility. When demand drops, the limited pool of buyers for five-bedroom estates (which saw a 32.8% price increase year-over-year in March 2025) shrinks further, forcing sellers to compete by cutting prices.