Westport CT Housing and Real Estate Market Report Week of 5/7/14

There are now 325 homes that are actively on the market. These currently available properties have been listed for average of 105 days, with a cumulative market time of 165 days. The average list price is now $2,444,926 and the median price remains fairly steady at $1,899,900.

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 home on Conte Place for $375,000.

Twenty-one new listings came on the market in the last seven days, and three properties came back on the market after being under deposit, or temporarily withdrawn. Thirteen properties had a price change.

Thirteen properties have gone under the initial deposit stage, which we call CTS, and another 11 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 11 pending properties is $1,589,500. There are currently 31 homes in CTS status throughout Westport, and another 65 properties scheduled to close town-wide, with an average price of $1,644,038.

Closings:  There were 15 single family homes reported as sold in the last week, and were listed on average at $1,988,100, and sold with an average  market time of 104 days. There were 93 status changes in the last seven days.

Condos:  There are 14 condominiums that are available, and they have been listed an average of 69 days. Their average listing price is $699,357 and the median price is $737,000.

The highest priced condo in town is $1,265,000 and is a three bedroom home located at Terra Nova Circle, and the lowest priced unit for sale is a one bedroom home on Sylvan Lane for $304,000.

There were two new listings this week, and no homes came back on the market after being under deposit. There was one price change, and one property entered into the initial stage of deposit, which was listed at $530,000.

There is one property town-wide that is currently in CTS status, and three homes that are scheduled to close, which are listed on average at $868,000.

Three sales were reported during the last week, and were listed on average at $622,333. There were eight status changes reported.

Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 30 homes or apartments available. The median price is $5,625 per month and the average price is $6,518 per month. These year round rental opportunities have been on the market an average of 37 days.

There are 35 short-term rental opportunities that are available, and they have been on the market an average of 47 days. Their average price is $17,437, and the median price is $15,000. 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.

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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

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