Westport Real Estate Market Report Week of September 17, 2012

There are now 323 homes that are actively on the market. The average list price of available homes  is $2,140,372 and these properties have been listed for average of 124 days, with a cumulative market time of 234 days. The median price remains fairly consistent at $1,698,000.

The highest asking price for all homes currently on the market is $27,500,000, and the lowest available priced home is $309,000.

Twenty-three new  listings came on  the market in the last seven days, and three homes came back on the market after being under deposit.  Three properties had a price change.

Three properties have gone under the initial deposit stage, which we call CTS, and ten 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 ten pending properties was $1,301,300.  There are currently 20 homes in CTS status  throughout Westport, and 38 properties scheduled to close town-wide, with an average price of $1,334,005.

Closings: Seven homes were reported as sold in the last week, and their average list price was $1,636,686.  Average market time for these sold properties was 89 days. There were 82 status changes in the last seven days.

Condos:  There are 12 condominiums that are available, and they have been listed an average of 196 days. Their average listing price is $554,317, and the median price is $524,000. The highest priced condo in town is listed at $1,075,000 and the lowest offering price is $299,900.

There was no new  listing activity in the last week, and no price changes or new deposits reported.

There are currently two properties in CTS status, and one additional  home scheduled to close townwide, which is listed at $659,000.

Closings: There were three condos reported as sold this past week, and they were listed on average at  $732,333.

Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 73 homes or apartments available. The median price is $5,000 per month and the average price is $6,350 per month. These year round rental opportunities have been on the market an average of 75 days.

There are 24 short-term rental opportunities that are available, and they have been on the market an average of 43 days.  Their  average price is $5,667, and the median price is $5,125. 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 a three bedroom, three bath home on 1.24 acres on  4 Highwood lane in Westport  for just  $700,000. See the virtual tour HERE

Buying or Selling a Home in Fairfield County?  Contact us!

If you have a question about buying or selling Real Estate in  Fairfield County, 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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