Fairfield/Westchester office market reports

Q3 2021

This dashboard is best viewed in a wider browser window.

A massive outpouring of tenant requirements originating from New York City is unlikely to occur. Most suburban Fairfield County submarkets are unlikely to attract net-new demand, positioning fundamentals in these areas to continue to soften.

6.8%

Economic conditions

Reopening efforts and higher vaccination rates have caused the Fairfield County unemployment rate to rebound from a high of 11.6 percent to 6.8 percent in July 2021.

69.6%

Recovery rate

Share of the total Fairfield County population that is fully vaccinated is 69.6 percent, allowing for greater return-to-work efforts for office employers.

-39.6%

Demand

Leasing activity has paused, decreasing by 39.6 percent compared with long-term historical annual averages.

1.3 msf

Supply

Sublease supply continues to drag aggregate market fundamentals, accounting for an elevated 1.3 msf of vacant space.

+0.3%

Pricing trends

Base rents for Class A properties have stabilized, increasing by 0.3 percent since 2020.

$233 M

Capital markets

Just $233M of Fairfield County offices have been sold since 2020, an annualized decrease of 44.1 percent compared with the prior five-year average.

Download Fairfield / Westchester Office Insight report

Your source for the latest Fairfield / Westchester office market reports

Get in-depth office market reports and insights from commercial real estate experts in the Greater Fairfield / Westchester area. Avison Young advisors look at Fairfield / Westchester commercial real estate activities and the latest Fairfield / Westchester statistics to provide you expert market research on Fairfield / Westchester's office properties.

Explore different topics like the latest office market pricing trends and analysis of Fairfield / Westchester's current office real estate market conditions. Gain a better understanding of Fairfield / Westchester’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Fairfield / Westchester's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Fairfield / Westchester.

The dashboard was delivered through AVANT by Avison Young: leveraging real-time data and analytics to make cities and location-based decisions more transparent and efficient. Learn more about AVANT.

Get the latest Fairfield / Westchester office market reports right in your inbox

Subscribe today
Sign up to receive reports and listings

Please allow cookies to enable this feature

Our contact service requires the use of cookies to provide an optimal experience for you. Your current cookie setting prevents us from sharing this feature with you.

Allow cookies