Southport CT Real Estate Market Weekly Statistics Report - October 25, 2011

SOUTHPORT CT HOMES: The lull in activity for Southport continues. The median list price in Southport has continued its decline and dropped almost $50,000 from just last week to $875,000. For a perspective, the median price at the end of July was $1,137,000.  As of this morning, there are 67 homes that have actively been on the market for  132 days and are listed at an average price of $2,149,653.

The highest priced home for sale in the Southport area of town is listed at $13,900,000 and the lowest priced available single family home is $349,900.  

Single family home inventory based upon the current absorption rate is 17.18 months. The goal for a neitral market is about 7-8 months. The absorption does tend to decline during the late fall and winter, so it is not as dismal as it might initially appear.

One new listing came on the market this week, and no homes came back on the market after being under deposit.  There was one property that had a price change. One property has gone under the initial deposit stage, which we call CTS, and no properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close.

CLOSINGS: No single family home sales was reported  sold this past  week. There were seven status changes in the last seven days.

PLEASE NOTE:  Southport statistics include all properties within the 06890 zip code

If you have a question about buying or selling Real Estate in Southport, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :)   - Judy