Westport CT Real Estate Weekly Update November 29, 2011

Homes: There are currently just 291 single family homes that are actively on the market. The average list price of the available homes is $2,142,254, and these properties have been listed for sale an average of 149 days. The median price is now $1,297,499.

Five bedroom homes comprise just over 49 percent of the available inventory and are listed on average at $2,901,786. Twenty-eight percent of all single family homes for sale have four bedrooms, and their average list price is $1,748,890.

The highest asking price for all homes currently on the market is $24,950,000, and the lowest available priced home is $329,900.

Three new listings came on the market in the last seven days,  and two homes came back on the market after being under deposit. Two properties had a price change. Six properties have gone under the initial deposit stage, which we call CTS, and seven 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 seven pending properties was $1,150,857 and they were on the market an average of 151 days.

Closings:  Two homes were reported as  sold in the last seven days. Their average list price was  $2,344,500 and  these homes were on the market an average of 164 days. There were 39 status changes in the last seven days.
 
Condos: There are 20 condominiums that are available, and they have been  listed an average of 154 days. Their average listing price is $675,810, and the median price is $539,950. The highest priced condo in town is listed at $1,495,000 and the lowest offering price is $294,500.

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: One condominium was reported as closed in the last week, and was listed at $385,000. It was on the market for 265 days. There was one status change in the last seven days.

Rentals: If you are interested in renting year round, either furnished or unfurnished,  there are 77 homes or apartments available. The median price is $3,650 per month and the average price is $5,473 per month. These year round rental opportunities have been on the market an average of 89 days.

As of this morning, there are three seasonal rental opportunities available and they have been on the market an average of  117 days, and at an average price of $25,500. 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