Westport CT Real Estate Market Weekly Statistics Report - July 12, 2011

Homes:  There are 363 single family homes on the market, and their average list price is $2,120,029.  These homes have been listed for sale an average of 110 days. Four bedroom homes comprise nearly twenty-nine percent of all the available inventory in town and are listed at an average price of  $1,654,178. The highest asking price for all homes currently on the market is $24,950,000, and the lowest available priced home is $239,900.

Eight new listings came on the market in the last seven days, and no homes came back on the market after being under deposit. Ten properties had a price change, and eight  properties have gone under the initial deposit stage, which we call CTS. Ten properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close.

Closings: We had another solid week with six sales that closed at over 70 percent of the median price in town of $1,320,000. What that essentially means is that higher priced inventory is showing some movement.  The average list price for these sales was $2,262,150 and  these homes were on the market an average of 148 days. We can look for any type of  trickle effect in the coming weeks. There were 68 status changes in the last seven days.
 
Condos:   The 31 condominiums that are available have been  listed an average of 99 days, and have an average price of $604,308. The median price of a condo dropped two-and-one-half percent to $487,000. The most active price pocket is between seven and eight hundred thousand dollars and  two bedroom condos make up over eighty percent of the available inventory. The highest price condo in town is listed at $1,595,000 and the lowest offering price is $227,351.

No new listings came on the market this week. No properties went into CTS  status, and no properties went into Pending status. There were two price changes.

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

Rentals: If you are looking to rent year round, either furnished or unfurnished, there are 79 homes or apartments available. The median price is $4,725 per month and the average price is $6,775 per month. These year round rental opportunities have been on the market an average of 43 days.

As of this morning, there are 21 seasonal opportunities available and they have been on the market an average of  77 days, and at an average price of $10,371. The median  price of both furnished and unfurnished seasonal rentals is $7,125.

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