Westport CT Real Estate Market Report Week of August 21, 2012

There are now 337 homes that are actively on the market,  with 17 of those homes in the initial stage of deposit, otherwise known as CTS. The average list price of available homes  is $2,168,067 and these properties have been listed for average of 124 days. The median price is now $1,699,000.

The highest asking price for all homes currently on the market is $27,500,000, and the lowest available priced home is $329,000.

Ten new  listings came on  the market in the last seven days, and four homes came back on the market after being under deposit. Thirteen properties had a price change.

Eight properties have gone under the initial deposit stage, which we call CTS, and eight 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 eight pending properties was $1,388,313.  There are currently 17 homes in CTS status  throughout Westport, and 48 properties scheduled to close town-wide, with an average price of $1,452,327.

Closings: Eight homes were reported as sold in the last week, and their average list price was $1,291,780.  Average market time for these sold properties was 85 days. There were 64 status changes in the last seven days.

Condos:  There are 16 condominiums that are available, and they have been listed an average of 134 days. Their average listing price is $569,057, and the median price is $542,000. The highest priced condo in town is listed at $1,075,000 and the lowest offering price is $324,900.

There were no new listings and  one price change. One property went under the initial stage of deposit.

One  property entered into pending status, and was listed o at $527,000.

Closings: There were no condos reported as sold this past week.

Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 87 homes or apartments available. The median price is  $5,200 per month and the average price is $6,441 per month. These year round rental opportunities have been on the market an average of 56 days.

There are 35 short-term rental opportunities that are available, and they have been on the market an average of 88 days.  Their  average price is $10,131, and the median price is $8,500. 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.

The Featured Home of the Week is at 125 Norton Road in Easton  for $1.4M. See the virtual tour HERE. Compare the amenities and value of this to a home in Westport for the same price- it can't be beat!

Buying or Selling a Home in Westport?  Contact us!

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

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