Westport CT Housing and Real Estate Market Report Week of1/7/15

There are now 221 homes that are are actively on the market. These currently available properties have been listed for an average of 136 days, with a cumulative market time of 245 days. The average list price is now $2,564,271 and the median price is now $2,149,000.

A four bedroom home on Beachside Avenue with 7.13 acres  is the highest priced home for sale at $25,000,000, and the lowest available priced home is a five bedroom home on 40 Ferry Lane East for $399.900.

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the market in the last seven days, and six properties came back on the market after being under deposit, or temporarily withdrawn.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

Three properties have gone under the initial deposit stage, which we call CTS, and another two 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 two pending properties is $2,542,000. There are currently nine homes in CTS status throughout Westport, and another 38 properties scheduled to close town-wide, with an average price of $2,457,227. Note: One property in pending status for $12,985,000 was excluded from this average, so as not to give an elevated reading on the market.

Closings: There were six single family homes reported as sold in the last week. These homes were listed on average at $1,481,150 and sold with an average market time of 199 days. There were 69 status changes in the last seven days.

Condos: There are three condominiums that are available, and they have been listed an average of 96 days. Their average listing price is $527,267 and the median price is $533,800.

The highest priced condo in town is $699,000 and is a two bedroom home located at Harvest Commons, and the lowest priced unit for sale is a three bedroom home on Hills Lane for $349,000.

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 one property entered into the initial stage of deposit. No homes entered into pending status.

There is one property town-wide that is currently in CTS status, and  there are two homes scheduled to close.

One sale was reported during the last week, and was listed at $699,000. There were two status changes.

Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 50 homes or apartments available. The median price is $4,600 per month and the average price is $5,209 per month. These year round rental opportunities have been on the market an average of 83 days.

There are 15 short-term rental opportunities that are available, and they have been on the market an average of 87 days. Their average price is $5,330 and the median price is $4,500. 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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 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