Westport CT Real Estate Market Report Week of January 7, 2013

There are now only 188 homes that are actively on the market, representing a drop off of about  ten percent from just  last week, but expect inventory to grow steadily in the weeks ahead. The average list price of these available homes is $2,352,421 and these properties have been listed for average of 164 days, with a cumulative market time of 275 days. The median price is now $1,712,000.

The highest asking price for all homes currently on the market is $27,500,000, and the lowest available priced home is $360,000.
Eight new  listings came on  the market in the last seven days, and seven homes came back on the market after being under deposit. Twelve properties had a price change.

Five 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 four pending properties is $1,419,725.  There are currently 16 homes in CTS status  throughout Westport, and another  38 properties scheduled to close town-wide, with an average price of $1,572,189.

Closings: Four properties were reported as sold in the last week. Their average list price was $1,296,500, with an  average market time of 137 days. There were 70 status changes in the last seven days.

Condos:  There are six condominiums that are available, and they have been listed an average of 344 days. Their average listing price is $635,000, and the median price is $632,000. The highest priced condo in town is listed at $949,000 and the lowest offering price is $299,000.

There was no new listing activity reported in the last week, and no homes came back on the market after being under deposit. One property had a price change, and one property was entered the CTS stage of deposit. No homes went into pending status.

There is one property townwide that is currently in CTS status, and one home is scheduled to close that is listed at $329,000.

Closings: There were no condos reported as sold this past week, and just two status change.

Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 44 homes or apartments available. The median price is $4,825 per month and the average price is $4,721 per month. These year round rental opportunities have been on the market an average of 62 days.

There are 21 short-term rental opportunities that are available, and they have been on the market an average of 50 days.  Their  average price is $13,095, and the median price is $6,000. 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. 

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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