Westport CT - Weekly Real Estate Market Statistics August 9, 2011

Homes:  There are 347 single family homes on the market, and their average list price is $2,138,652.  These homes have been listed for sale an average of 115 days, and the median price is $1,324,000.

The highest asking price for all homes currently on the market is $24,950,000, and the lowest available priced home is $294,900.  Five bedroom homes comprise roughly 48 percent of the available inventory and their average list price is  $2,926,838.  There are currently 98 four bedroom homes available in town and their average list price is $1,733,857. Lastly, if you are in the market for a three bedroom home, the average list price is $1,041,195 and there are 73 available.

Eleven new listings came on the market in the last seven days, and two homes came back on the market after being under deposit. Five properties had a price change, and elevent 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:  Seventeen homes were reported as  sold in the last seven days, and their average list price was  $1,311,529 and  these homes were on the market an average of just 66 days. There were 69 status changes in the last seven days.
 
Condos:   The 30 condominiums that are available have been  listed an average of 98 days, and have an average price of $617,561. The median price of a condo  is $492,450. The highest price condo in town is listed at $1,595,000 and the lowest offering price is $227,351.

Two new listings came on the market this week, and one property had a price change. No properties went into CTS  status, and two properties went into Pending status.

Closings: One condominium closed in the last week, was listed at $829,000 and took just 35 days to sell. There were six status changes in the last seven days.

Rentals: If you are looking to rent year round, either furnished or unfurnished, the inventory is down by about 20 percent since a few weeks ago and there are just 61 homes or apartments available. The median price is $4,825 per month and the average price is $6,982 per month. These year round rental opportunities have been on the market an average of 61 days.

As of this morning, there are 11 seasonal rental opportunities available and they have been on the market an average of  82 days, and at an average price of $9,122. 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.