Westport CT Real Estate Market Statistics Weekly Report - 6/21/2011

Homes:  There are 383 single family homes on the market and their average list price is $2,090,846. The median list price is steady at $1,297,000.  These homes have been listed for sale an average of 101 days. Almost 46 percent of all the inventory in town are homes with five bedrooms or more.  The highest asking price for all homes available is $24,950,000, and the lowest  priced home on the market  is $239,900.

Consistent with last week's reporting, nine new listings came on the market in the last seven days, and one came back on the market after being under deposit. Twenty properties had a price change, and 13 properties have gone under the initial deposit stage, which we call CTS. Eight properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close.

Closings: Sixteen properties sold this past week and that is twice as many as in the last seven days. They had an average list price of $1,660,668 and  were on the market an average of 109 days.  There were 75 status changes in the last week.

Condos:   The 29 condominiums that are available have been  listed an average of 104 days, and have an average price of $608,958, and the median price of a condo in Westport is  $487,000. There are only five three-bedroom condominiums available at this time. 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 no homes came back on the market after being under deposit. Two properties went into pending status.

Closings: Two condominiums closed in the last week, and their average list price was $597,000. They were on the market an average of 108 days. There were nine status changes in the last seven days.

Rentals: If you are looking to rent year round, either furnished or unfurnished, there are 68 homes or apartments available. The median price is $4,225 per month and the average price is $6,786 per month. These year round rental opportunities have been on the market an average of 45 days.

There still is a variety of  seasonal rentals to choose from throughout town. As of this morning, there are 30  opportunities available and they have been on the market an average of  63 days, and at an average price of $11,313. The median  price of both furnished and unfurnished seasonal rentals is $8,200.

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.

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