Real Estate Market Report for Westport CT - week of 6/14/2011

Homes:  The average list price for a home in town is $2,135,283, and the median list price is currently $1,297,500.  As of this morning, there are 385 homes available, and they have been listed for sale an average of 99 days. The highest asking price in town is $24,950,000, and the lowest  priced home on the market  is $239,900.

Nine new listings came on the market this week, and one came back on the market after being under deposit. Fifteen properties had a price change, and ten properties have gone under the initial deposit stage, which we call CTS. Nine properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close.

Closings: Eight properties sold this past week, and they had an average list price of $1,025,000 and  were on the market an average of 244 days.  There were 66 status changes in the last week.

Condos:   The 28 condominiums that are available have been  listed an average of 119 days, and have an average price of $602,517, and the median price of a condo in Westport is  $480,000. The highest price condo in town is  listed at $1,595,000 and the lowest offering price is $239,900. Two new listings came on the market this week, and one home came back on the market after being under deposit. One property went into pending status.

Closings: No condominiums closed in the last week. There were four status changes in the last seven days.

Rentals: If you are looking to rent year round, either furnished or unfurnished, the inventory is dwindling, however there are still 60 homes or apartments available. The median price is $4,100 per month and the average price is $6,894 per month. These year round rental opportunities have been on the market an average of 48 days.

There still is a variety of  seasonal rentals to choose from throughout town. As of this morning, there are 31  opportunities available and they have been on the market an average of  62 days, and at an average price of $11,822. The median  price of both furnished and unfurnished seasonal rentals is $8,250.

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