Westport CT Housing and Real Estate Market Report Week of 12/17/13

Inventory has remained fairly stable in the last few weeks, and there are now 212 homes that are actively on the market. These properties have been listed for average of 133 days, with a cumulative market time of 212 days. The average list price of the available homes is up nearly $90,000 to $2,534,806. This comes after a $50,000 rise the week before, however the hefty increases are not the norm, and are not expected to continue. The median price has increased again to $1,899,000.

A new five bedroom colonial at 8 Bluewater Lane is the highest priced home for sale at $14,500,000, and the lowest available priced home is a two bedroom ranch on Crescent Park for $289,000.

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

Six 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 is $1,700,000.  There are currently 17 homes in CTS status throughout Westport, and another 40 properties scheduled to close town-wide, with an average price of $1,816,785.

Closings:  There were 16 single family homes reported as sold in the last week, were listed on average at $1,260,956, and sold with an average market time of 141 days. There were 63 status changes in the last seven days.

Condos:  There are eight condominiums that are available, and they have been listed an average of 88 days. Their average listing price is $770,063 and the median price is $761,500.

The highest priced condo in town is $899,000 and is a three bedroom home located at Regents Park, and the lowest priced unit for sale is a two bedroom home on Bradley Lane for $626,500.

There were no new listings this week, and no homes came back on the market after being under deposit. There were no price changes, and no properties entered into the initial stage of deposit. One home entered the pending stage of deposit, and was listed at $935,000.

There are three properties town-wide that are currently in CTS status, and two homes that are scheduled to close, which are listed on average at $905,000.
 
Two sales were reported during the last week, and were listed on average at $624,000.There were three status changes reported.

Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 47 homes or apartments available. The median price is $6,000 per month and the average price is $6,022 per month. These year round rental opportunities have been on the market an average of 70 days.

There are 21 short-term rental opportunities that are available, and they have been on the market an average of 100 days. Their average price is $6,702,  and the median price is $5,950. 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.

"When You Deserve the Best, You Deserve Judy"

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 The Featured Home of the Week is a 3 bedroom, 2 bath ranch home at 20 Hickory Drive, Westport  for just $549,900. See the virtual tour HERE 

 .....or better yet, call Judy to schedule an appointment to see it!

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 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

Search for properties on any of our sites, or get the very best visibility available for your home. Visit us online wherever you like: Find out more about Judy here

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