Westport CT - Weekly Real Estate Market Statistics September 14, 2011

Homes:  There are 325 single family homes on the market, and their average list price is $2,181,859.  These homes have been listed for sale an average of 135 days, and the median price remaining fairly steady at $1,347,499.

Single Family Home Inventory based upon current absorption rate: 7.92 months

The highest asking price for all homes currently on the market is $24,950,000, and the lowest available priced home is $310,500.  The biggest price pocket of available homes are in the one to one-and-one-half million dollar range, with 58 homes available and an average market time of 111 days.

Ten new listings came on the market in the last seven days, and two came back on the market after being under deposit. Fourteen properties had a price change, and seven properties have gone under the initial deposit stage, which we call CTS.  Three properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. Their average market time was 85 days.

Closings:  Eight homes were reported as  sold in the last seven days, and their average list price was  $1,076,000 and  these homes were on the market an average of 105 days. There were 58 status changes in the last seven days.
 
Condos: The 25 condominiums that are available have been  listed an average of 115 days, and have an average price of $664,438. The median price of a condo  is $547,000. The highest price condo in town is listed at $1,595,000 and the lowest offering price is $227,351.

Condominium Inventory based upon current absorption rate: 9.38 months

It was a very quiet week for condo activity. No new listings came on the market this week, and no properties had a price change. No properties went into CTS  status, One property went into Pending status, and  its market time was just 16 days.

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

Rentals: If you are looking to rent year round, either furnished or unfurnished,   there are 75 homes or apartments available. The median price is $3,650 per month and the average price is $5,985 per month. These year round rental opportunities have been on the market an average of 56 days.

As of this morning, there are just four  seasonal rental opportunities available and they have been on the market an average of  62 days, and at an average price of $11,500. The median  price of both furnished and unfurnished seasonal rentals is $6,750.

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.