Real Estate Market Report for Westport CT - week of 6/14/2011

Homes:  The average list price for a home in town is $2,135,283, and the median list price is currently $1,297,500.  As of this morning, there are 385 homes available, and they have been listed for sale an average of 99 days. The highest asking price in town is $24,950,000, and the lowest  priced home on the market  is $239,900.

Nine new listings came on the market this week, and one came back on the market after being under deposit. Fifteen properties had a price change, and ten properties have gone under the initial deposit stage, which we call CTS. Nine properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close.

Closings: Eight properties sold this past week, and they had an average list price of $1,025,000 and  were on the market an average of 244 days.  There were 66 status changes in the last week.

Condos:   The 28 condominiums that are available have been  listed an average of 119 days, and have an average price of $602,517, and the median price of a condo in Westport is  $480,000. The highest price condo in town is  listed at $1,595,000 and the lowest offering price is $239,900. Two new listings came on the market this week, and one home came back on the market after being under deposit. One property went into pending status.

Closings: No condominiums closed in the last week. There were four status changes in the last seven days.

Rentals: If you are looking to rent year round, either furnished or unfurnished, the inventory is dwindling, however there are still 60 homes or apartments available. The median price is $4,100 per month and the average price is $6,894 per month. These year round rental opportunities have been on the market an average of 48 days.

There still is a variety of  seasonal rentals to choose from throughout town. As of this morning, there are 31  opportunities available and they have been on the market an average of  62 days, and at an average price of $11,822. The median  price of both furnished and unfurnished seasonal rentals is $8,250.

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

Westport CT Real Estate Market Report 6/07/2011

Homes:  The average list price is $2,133,035 in Westport, although the median list price for a single family home remains fairly steady at  $1,260,500.  As of this morning, there are 374 homes available, and they have been listed for sale an average of  97 days.

Thirteen  new listings came on the market this week. There were 13 properties that had a price change. Ten properties have gone under the initial deposit stage, which we call CTS, and 15 properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close.

Home Closings: Eleven properties sold this past week, and they had an average list price of $1,064,364 and  were on the market an average of 163 days.  There were 74 status changes in the last week.

Condos:  The 27 condominiums that are available have been  listed an average of 121 days, and have an average price of $589,896. The median price of a condo in Westport remains at  $480,000. Only one new listing came on the market this week, and one property had a price change. In the last week, two properties went into CTS status,  and one property went into pending status.

Condo Closings: No condominiums closed in the last week, There were five status changes in the last seven days.

Rentals: If you are looking to rent year round, either furnished or unfurnished, there are 67 homes or apartments available. The median price is $3,850 per month and the average price is $6,057 per month. These year round rental opportunities have been on the market an average of 43 days.

There still is a number of  seasonal rentals to choose from throughout town. As of this morning, there are 31  opportunities available and they have been on the market an average of  58 days, and at an average price of $12,141 . The median  price of both furnished and unfurnished seasonal rentals is $8,500.

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

Westport CT Year to Date real estate market information & advice

Westport's real estate market is unique with 128 sales year to date, which has outpaced last years sales at this time of 102 single family homes, and bucking every national trend you can think of. The five year low was in 2009, and the highest sales in the past 5 years was in 2006 at 161 sales. Westport has been and remains a great investment. I grade the Westport real estate market at "A-"

The fast stats?    

Year to date 2 bedroom home sales average list price $482,000 and the average sales price is $ 463,583 (6 sales reported)

Year to date 3 bedroom home sales average list price $716,820 and the average sales price is $ 679,764 (24 sales reported)

 Year to date 4 bedroom home sales average list price is $1,421,203 and the average sales price is $1,314,690 (55 sales reported)

Year to date 5 bedroom home sales average list price is $2,140,155 and the average sales price is $2,045,590 ( 43 sales reported)

There were 11 condominium sales in town at an average list price of   $608,581 and average sale price of $567,545  Total year to date single family sales are 128 compared to:

2010 -102
2009 -61
2008 -90
2007 -154
2006 -161

Westport CT Real Estate Market Statistics Report 5/24/11

WESTPORT CT HOMES:  The average list price is $2,132,241 in Westport, although the median list price for a single family home remains fairly steady at  $1,239,000.  As of this morning, there are 365 homes available, and they have been listed for sale an average ofr 96 days.

Fifteen new listings came on the market this week. There were 18 properties that had a price change. Twelve properties have gone under the initial deposit stage, which we call CTS, and eight properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. CLOSINGS: Ten properties sold this past week, and they had an average list price of $1,394,500 and  were on the market  just 46 days.  There were 76 status changes in the last week.

WESTPORT CT CONDOS: The hottest "price pocket" for condominiums is between 500-600k, although nothing is very hot about the condo market in Westport right now- sales and activity is lower than we'd like, especially when compared on a percentage basis to the single family statistics, but I think it's just a temporary glitch.  The 27 condominiums that are available have been  listed an average of 110 days, and have an average price of $592,062, and the median price of a condo in Westport remains at  $480,000. Only one new listing came on the market this week, and no properties had a price change. In the last week, one property went into CTS status,  and no properties went into pending status. CLOSINGS: No condominiums closed in the last week, There were two status changes in the last seven days.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, there are 75 homes or apartments available. The median price is $3,450 per month and the average price is $5,565 per month. These year round rental opportunities have been on the market an average of 39 days.

There still is a variety of  seasonal rentals to choose from throughout town. As of this morning, there are 38  opportunities available and they have been on the market an average of  51 days, and at an average price of $12,672 . The median  price of both furnished and unfurnished seasonal rentals is $8,750.

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

Westport CT Real Estate Market / Sales Statistics 5/17/11

True to most markets, there are "price pockets" that seem to outperform the rest of the town, and Westport has a few of them. Homes currently range in price from $239,900 to $24,950,000, there are only a few  ranges enjoying the most activity- and activity can mean new listings, homes going under deposit, price reductions within the range, and sales. The most active price range in town is between one and two million dollars, and these properties represent over one third of all the homes available, with a special note that homes priced under one million received a lot more competition in the last week than they have had recently. Interestingly enough, the sale "pockets" that  are best right now are between 1-1.5 million and 2-2.5 million.

WESTPORT CT HOMES:  The average list price is $2,132,130 in Westport, although the median list price for a single family home remains steady at  $1,262,450.  As of this morning, there are 355 homes available, and they have been listed for sale an average ofr 96 days.

Twenty new listings came on the market this week, and one home came back on the market after being under deposit.  There were 15 properties that had a price change. Eight properties have gone under the initial deposit stage, which we call CTS, and 13 properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. CLOSINGS: Ten properties sold this past week, and they had an average list price of $1,741,380 and  were on the market  just 48 days.  There were 67 status changes in the last week.

WESTPORT CT CONDOS: The hottest "price pocket" for condominiums is between 500-600k.  The 26 condominiums that are available have been  listed an average of 107 days, and have an average price of $587,950, and the median price of a condo in Westport is $480,000. Five new listings came on the market this week, and no properties had a price change. In the last week, one property went into CTS status,  and no properties went into pending status. CLOSINGS: No condominiums closed in the last week, There were seven status changes in the last seven days.

RENTALS: If you are looking to rent year round, either furnished or unfurnished, there are 69 homes or apartments available. The median price is $3,375 per month and the average price is $5,489 per month. These year round rental opportunities have been on the market an average of 41 days.

There still is a variety of  seasonal rentals to choose from throughout town. As of this morning, there are 40  opportunities available and they have been on the market an average of 47 days, and at an average price of $14,270 . The median  price of both furnished and unfurnished seasonal rentals is $10,000.

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.