Sales Slowed in First Quarter Amidst Elevated Buyer Demand Across Housing Markets, According to New William Pitt-Julia B. Fee Sotheby's International Realty Market Report

Limited inventory suppressed single family home sales, but multiple factors suggest the pause in activity is temporary, report indicates

STAMFORD, Conn., April 8, 2026 /PRNewswire/ -- The first quarter of 2026 saw decreased sales activity and reduced inventory for single family home sales compared to the same quarter the year prior, according to a new report just released by William Pitt-Julia B. Fee Sotheby's International Realty. The report details annual market results in Fairfield, Litchfield and Hartford Counties and the Shoreline in Connecticut, the Berkshires in Massachusetts, and Westchester, Putnam, Columbia, Dutchess and Ulster Counties, New York.

The report stated that sales were down nearly across the board throughout the housing markets the company serves. Closed units for single family home sales decreased compared to the first quarter last year in most counties, while closed dollar volume also decreased in most areas, slightly increasing in just a handful. A lack of listings limited sales, as both total standing inventory and new listing units taken were down in most areas, with only a few showing an uptick in total standing inventory.

Dollar volume in new listings taken fared better than new listing units. In most every county there was a disparity between new listing volume and units with volume showing a more positive performance—for example, in Westchester County new units taken declined by 17% but volume only decreased by 8%. This spread between volume and units was also reflected in closed sales for the quarter. Across territories, percentage changes in closed units were steeper than those in dollar volume. Unit sales were down by 12% in Fairfield County, for instance, but 6% in volume.

The report indicated that the difference between these two metrics is explained by the change in product mix that is transacting, with more properties selling for higher prices, as well as the ongoing upward movement in median sale prices. The 12-month median sale price continues to climb in virtually every territory.

"There are obviously wild cards on a global scale that could affect housing in unpredictable ways. And yet our markets are still very busy with buyers who want to buy, and sellers are continually experiencing high interest in their homes," said Paul Breunich, Chairman and Chief Executive Officer of William Pitt-Julia B. Fee Sotheby's International Realty. "We believe the pause in activity in the first quarter is a blip that will soon be behind us. With more listings set to arrive and meet the elevated demand, we are optimistic that healthy activity will continue in our marketplaces in the coming quarter and beyond."

The 2026 First Quarter Market Watch is available on the firm's website at williampitt.com.

About William Pitt Sotheby's International Realty and Julia B. Fee Sotheby's International Realty

Founded in 1949, William Pitt Sotheby's International Realty and Julia B. Fee Sotheby's International Realty manages a $5.5 billion portfolio with more than 1,100 sales associates in 29 brokerages spanning Connecticut, Massachusetts and New York. The company is one of the largest Sotheby's International Realty(R) affiliates globally and the 34th-largest real estate company by sales volume in the United States. For more information, visit the website at williampitt.com.

Sotheby's International Realty's worldwide network includes 1,075 offices throughout 81 countries and territories on six continents.

SOURCE William Pitt Real Estate LLC