Westport CT - Weekly Real Estate Market Statistics September 21, 2011

Homes:  There are 330 single family homes on the market, and their average list price is $2,155,086.  These homes have been listed for sale an average of 131 days, and the median price has rtisen slightly to $1,377,500.

Single Family Home Inventory based upon current absorption rate: 8.31 months

The highest asking price for all homes currently on the market is $24,950,000, and the lowest available priced home is $380,000.  The biggest price pocket of available homes is in the one to one-and-one-half million dollar range, with 61 homes available and an average market time of 107 days.There are 50 homes available in the 1.5 to two million dollar range, and they have been on the maret an average of 101 days

Nineteen new listings came on the market in the last seven days,  no homes came back on the market after being under deposit. and eight properties had a price change. Five properties have gone under the initial deposit stage, which we call CTS, and five properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. The average market time for these Pending properties was 84 days.

Closings:  Thirteen homes were reported as  sold in the last seven days,  their average list price was  $1,259,762 and  these homes were on the market an average of 92 days. There were 69 status changes in the last seven days.
 
Condos: There are 24 condominiums that are available, and they have been  listed an average of 115 days and have an average price of $636,187. The median price of a condo is $488,950. The highest priced condo in town is listed at $1,595,000 and the lowest offering price is $279,000.

Condominium Inventory based upon current absorption rate: 10.29 months

It is still somewhat quiet for condo activity. One  new listing came on the market this week, and three properties had a price change. No properties went into CTS  status,  and one property went into Pending status, and  its market time was just 16 days.

Closings: One condominium closed in the last week, and was listed at $227,352. This home was on the market  for 78 days. There were eight status changes in the last seven days.

Rentals: If you are looking to rent year round, either furnished or unfurnished,   there are 74 homes or apartments available. The median price is $3,650 per month and the average price is $5,930 per month. These year round rental opportunities have been on the market an average of 56 days.

As of this morning, there are just three  seasonal rental opportunities available and they have been on the market an average of  69 days, and at an average price of $14,166. The median  price of both furnished and unfurnished seasonal rentals is $8,750.

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.

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