Westport CT Housing and Real Estate Market Report Week of 3/10/15

There is a slow and steady rise in inventory, and as of today,  there are now 262 homes that are are actively on the market. These currently available  properties have been listed for an average of 114 days, with a cumulative market time of 217 days. The average list price is now $2,542,606 and the median price is at $2,195,000.

A four bedroom home on Beachside Avenue on 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 $405,000.

Nineteen new listings came on the market in the last seven days, and no properties came back on the market after being under deposit, or temporarily withdrawn.  Eight properties had a price change.

Eight  properties have gone under the initial deposit stage, which we call CTS, and seven properties went into pending status, which means that the conditions have been satisfied, and the property is scheduled to close.

The average price of those seven properties was $1,369,700. There are currently 25 homes in CTS status throughout Westport, and another 40 properties scheduled to close town-wide, with an average price of $1,750,145.

Closings: There were seven single family homes reported as sold in the last week, These seven homes were listed on average at $2,459,700 and sold with an average market time of 88 days. There were 58 status changes in the last seven days.

Condos: There are ten condominiums that are available, and they have been listed an average of 40 days. Their average listing price is $754,560 and the median price is $745,000.

The highest priced condo in town is $1,300,000 and is a three bedroom home located at Terra Nova Circle, and the lowest priced unit for sale is a one bedroom home on Whitney Glen for $380,000.

There were two new listings this week, and no homes came back on the market after being under deposit. There were no price changes, and no property entered into the initial stage of deposit. One home entered into pending status, and was listed at $699,000.

There are no properties town-wide that are currently in CTS status, and there are no homes scheduled to close.

Three sales were reported during the last week,  and their average list price was $699,633. There were five status changes.

Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 44 homes or apartments available. The median price is $4,250 per month and the average price is $4,983 per month. These year round rental opportunities have been on the market an average of 77 days.

There are 28 short-term rental opportunities that are available, and they have been on the market an average of 48 days. Their average price is $15,136 and the median price is $11,500. 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