Westport CT Housing and Real Estate Market Report Week of 6/23/14

This week offers nearly identical inventory from last week, with 346 homes that are actively on the market. These currently available properties have been listed for average of 113 days, with a cumulative market time of 172 days. The average list price is now $2,351,901 and the median price is up slightly to $1,832,000.

A seven-bedroom home at 2 Manitou Court is the highest priced home for sale at $12,985,000, and the lowest available priced home is a three-bedroom home on 10 Crescent Park for $379,000.

Fourteen new listings came on the market in the last seven days, and one property came back on the market after being under deposit, or temporarily withdrawn. Eighteen properties had a price change.

Nine properties have gone under the initial deposit stage, which we call CTS, and another 13 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 13 pending properties is $1,012,615. There are currently 34 homes in CTS status throughout Westport, and another 76 properties scheduled to close town-wide, with an average price of $1,756,500.

Closings: There were 10 single family homes reported as sold in the last week, and were listed on average at $1,472,690, and sold with an average market time of 115 days. There were 74 status changes in the last seven days.

Condos: There are 16 condominiums that are available, and they have been listed an average of 92 days. Their average listing price is $654,213 and the median price is $644,450.

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 no 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. One home enetered into pending status, and was listed at $770,000

There is one property town-wide that is currently in CTS status, and two homes that are scheduled to close, which are listed on average at $620,000.

One sale were reported during the last week, and was listed at $779,000. There were four status changes reported.

Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 66 homes or apartments available. The median price is $4,738 per month and the average price is $5,658 per month. These year round rental opportunities have been on the market an average of 37 days.

There are 47 short-term rental opportunities that are available, and they have been on the market an average of 60 days. Their average price is $15,387 and the median price is $13,500. 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.

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"When You Deserve the Best, You Deserve Judy"

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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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