Westport CT Real Estate Weekly Market Update January 10, 2012

It's the beginning of the year, and inventory is already on the upswing. There are now 242 homes that are actively on the market. The average list price of the available homes is $2,228,535, and these properties have been listed for sale an average of 147 days. The median price is $1,322,500.

The highest asking price for all homes currently on the market is $24,950,000, and the lowest available priced home is $399,000.

Sixteen new listings came on the market in the last seven days, and no homes came back on the market after being under deposit. Nine properties had a price change.

Three properties have gone under the initial deposit stage, which we call CTS, and four properties went into pending status, which means that the conditions have been satisfied, and the property is scheduled to close.

The average price of these two pending properties was $999,250 and they were on the market an average of just 34 days.

Closings: Three homes were reported as sold in the last week, and they were listed at an average price of $1,334,633. There were 53 status changes in the last seven days.

Condos: There are fifteen condominiums that are available, and they have been listed an average of 170 days. Their average listing price is $699,453, and the median price is $562,000. The highest priced condo in town is listed at $1,495,000 and the lowest offering price is $284,900.

Activity is still somewhat low, but is starting to pick up. One new listing came on the market, and no homes came bakcon the market after being under deposit. There were no price changes. Two properties went into CTS status, and no properties went into Pending status.

Two properties were reported as sold in the last week, and their average list price was $639,450. They were on the market an average of 87 days before they sold. There were five status changes in the last seven days.

Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 63 homes or apartments available. The median price is $3,508 per month and the average price is $5,162 per month. These year round rental opportunities have been on the market an average of 92 days.

There are three seasonal rental opportunities available, and they have been on the market an average of 81 days, with an average price of $29,666. The median price is $22,500. Please note that seasonal rental prices are sometimes listed as an aggregate price for the season, or they can be listed as per the monthly rental cost.

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.

If you have a question about buying or selling Real Estate in Westport, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :)   - Judy