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.

Westport CT April 2011 Monthly Real Estate Sales Report

There were twenty-seven  single family home sales in Westport during the month of April that were reported to the MLS.  The average List price was $1,416,144 and the average sale price was $1,316,688, and market time for these listings to sell was 144 days. On average, the sale price to list price ratio for sold listings was 92.97%, and these sales figures include  two sales of homes with 2 bedrooms or less, four sales of 3 bedroom homes, twelve sales of 4 bedroom homes,  and nine sales of homes with 5 or more bedrooms.

During this same period in 2010, there were 24 sales, and during this period in 2009, there were 17 sales. Westport's sales have been steadily increasing since over the past few years during this time frame, and it's a positive sign of better things to come!

Two condominiums were sold in Westport that were reported to the MLS.  The average List price was $354,250 and the average sale price was $318,750,  market time for these listings to sell was 94 days, and these sales are both 2 bedrooms units or less. On average, the sale price to list price ratio for sold listings was 89.85%. NOTE: all information was obtained through the GFC-CMLS, which does not include private sales.

 I should also note that while April's condo sales seem low, that the median price of a condominium is Westport is over $450,000, and this report only represents this month closed sales.

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