Westport CT Weekly Real Estate Market Statistics 10/25/11

Homes:  332 single family homes that are actively on the market. Their average list price is $2,123,410, and these homes have been listed for sale an average of 140 days. The median price has risen slightly to $1,346,500. Nearly 38 percent of the  homes available for sale in town have are listed between one and two million dollars..

The highest asking price for all homes currently on the market is $24,950,000, and the lowest available priced home is $380,000.

Single Family Home Inventory based upon current absorption rate: 10.65 months, and is up slightly since last week. We look to about a six month figure  for a neutral market.

Six new listings came on the market in the last seven days,  and no homes came back on the market after being under deposit. Thirteen properties had a price change. Seven properties have gone under the initial deposit stage, which we call CTS, and six properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. The average listing price for these Pending properties was $1,613,833 and their average market time was 57 days.

Closings:  Three homes were reported as  sold in the last seven days,  their average list price was  $842,833 and  these homes were on the market an average of 197 days. There were 44 status changes in the last seven days.
 
Condos: There are 23 condominiums that are available, and they have been  listed an average of 131 days. Their average listing price is $648,856. The median price of a condo has risen to $514,450. The highest priced condo in town is listed at $1,495,000 and the lowest offering price is $279,000.

Condominium  Inventory based upon current absorption rate: 6.27 months.

No new listings came on the market this week, and no properties came back on the market after being under deposit. No properties had a price change. No properties went into CTS  status, and no properties  went into Pending status.

Closings: Three condominiums were reported as closed in the last week, and their average list price was $516,667. These homes were on the market an average of 83 days. There were five status changes in the last seven days.

Rentals: If you are interested in renting year round, either furnished or unfurnished,  there are 78 homes or apartments available. The median price is $3,950 per month and the average price is $5,765 per month. These year round rental opportunities have been on the market an average of 69 days.

As of this morning, there are four seasonal rental opportunities available and they have been on the market an average of  68 days, and at an average price of $22,875. The median  price of both furnished and unfurnished seasonal rentals is $16,250.

Source: Market Data is compiled from the GFC-CMLS and represents activity through our local MLS system. Private sales are not included in these statistics.

If you have a question about buying or selling Real Estate in Westport, 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