Westport CT Real Estate Weekly Market Update November 15, 2011

Homes:  Inventory continues its seasonal drop. There are currently 309 single family homes that are actively on the market, and to put that into perspective, that's nearly a ten percent decline from just 45 days ago. The average list price for available homes is $2,118,131, and these properties have been listed for sale an average of 145 days. The median price is now $1,345,000.

The highest asking price for all homes currently on the market is $24,950,000, and the lowest available priced home is $399,000.

Five new listings came on the market in the last seven days,  and no homes came back on the market after being under deposit. Nine properties had a price change. Eleven properties have gone under the initial deposit stage, which we call CTS, and four properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. The average price of these four pending properties was $710,950 and they were on the market an average of 149 days.

Closings:  Six homes were reported as  sold in the last seven days. Their average list price was  $2,253,150 and  these homes were on the market an average of 96 days. There were 51 status changes in the last seven days.
 
Condos: There are 21 condominiums that are available, and they have been  listed an average of 136 days. Their average listing price is $667,676. The median price of a condo is $539,450. The highest priced condo in town is listed at $1,495,000 and the lowest offering price is $294,500.

Two 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 three properties went into Pending status.

Closings: No condominiums were reported as closed in the last week. 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 88 homes or apartments available. The median price is $3,550 per month and the average price is $5,360 per month. These year round rental opportunities have been on the market an average of 72 days.

As of this morning, there are four seasonal rental opportunities available and they have been on the market an average of  89 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