Westport CT Real Estate Weekly Market Update December 20, 2011

WESTPORT HOMES: There was a 6.5 percent drop an inventory last week alone, and there are now just 258 single family homes that are actively on the market. The average list price of the available homes is $2,172,539, and these properties have been listed for sale an average of 156 days. The median price is now $1,300,500.

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

Three new listings came on the market in the last seven days, and one home came back on the market after being under deposit. One property had a price change.

Four 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 $931,686 and they were on the market an average of 168 days.

Closings: Three homes were reported as sold in the last seven days, and they were listed at an average price of $1,165,667, and their average market time was 90 days. There were 43 status changes in the last seven days.


Condos: There are 15 condominiums that are available, and they have been listed an average of 173 days. Their average listing price is $697,453, and the median price is $562,000. The highest priced condo in town is listed at $1,495,000 and the lowest offering price is $284,900.

It was a very slow week for Westport condominium activity. No new listings came on the market this week, and no properties came back on the market after being under deposit. One property had a price change, and one property went into CTS status. No properties went into pending status.

Closings: One condominium was reported as closed in the last week, and it waslisted for 179 days before it sold, and was listed at $370,000. There were three status changes in the last seven days.

Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 65 homes or apartments available. The median price is $3,500 per month and the average price is $5,215 per month. These year round rental opportunities have been on the market an average of 100 days.

There are two seasonal rental opportunities available, and they have been on the market an average of 97 days, and at an average price of $34,500.

The median price of both furnished and unfurnished seasonal rentals is $34,500. Please note that seasonal rental prices are sometimes listed as an aggregate price for the season, or they can be listed as per the monthly rental cost.

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