Westport CT Real Estate Weekly Market Update December 27, 2011

Westport's single family home inventory has dropped over eleven percent in just one week! There are now just 245 homes that are actively on the market. At the same time, the average list price of the available homes has increased by over sixty thousand dollars to $2,200,269. These properties have been listed for sale an average of 157 days. The median price has also risen from last week by over twenty-seven thousand dollars to $1,312,500.

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

Four new listings came on the market in the last seven days, and no homes came back on the market after being under deposit. One property had a price change.

Six 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 price of these six pending properties was $1,014,833 and they were on the market an average of 123 days.

Closings: Seven homes were reported as sold in the last week, and they were listed at an average price of $1,118,143. There were 43 status changes in the last seven days.


Condos: There are fifteen condominiums that are available, and they have been listed an average of 179 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.

There was virtually no new activity for condos at all this week. No new listings came on the market, no properties came back on the market after being under deposit, no price changes,  no status changes to Pending, and no closings. There was just one status change in the last seven days.

Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 64 homes or apartments available. The median price is $3,500 per month and the average price is $5,230 per month. These year round rental opportunities have been on the market an average of 102 days.

There are two seasonal rental opportunities available, and they have been on the market an average of 103 days, with both an average and median price of $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