Westport CT - Weekly Real Estate Market Statistics October 4, 2011

Homes:  There are 335 single family homes that are actively on the market. Their average list price is $2,132,086, and these homes have been listed for sale an average of 130 days. The median price remains fairly constant at $1,338,500.

The biggest price pocket is between $1 -1.5 million dollars, and these homes comprise over twenty percent of the available inventory, and have been on the market an average of 119 days.
 
The highest asking price for all homes currently on the market is $24,950,000, and the lowest available priced home is $380,000.  

Single Family Home Inventory based upon current absorption rate: 9.76 months.


Fourteen new listings came on the market in the last seven days,  and no homes came back on the market after being under deposit. Eleven properties had a price change. Three properties have gone under the initial deposit stage, which we call CTS, and six properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. The average listing price for these Pending properties was $1,575,679 and their average market time was 119 days.

Closings:  Four homes were reported as  sold in the last seven days,  their average list price was  $1,513,250 and  these homes were on the market an average of 86 days. There were 63 status changes in the last seven days.
 
Condos: There are 28 condominiums that are available, and they have been  listed an average of 107 days. Their average price is $632,196. The median price of a condo is $532,500. The highest priced condo in town is listed at $1,495,000 and the lowest offering price is $279,000.

Condominium Inventory based upon current absorption rate: 12 months, which is hs decreased by over four months over last week.

It is still remains somewhat quiet for condo activity. Only one new listing came on the market this week, and no properties had a price change. One property went into CTS  status, adn no properties  went into Pending status.

Closings: Two condominiums closed in the last week, and their average listing price was $567,250. Average market time for both homes was 91 days. There were four status changes in the last seven days.

Rentals: If you are interested in renting year round, either furnished or unfurnished,  there are 77 homes or apartments available. The median price is $3,590 per month and the average price is $5,627 per month. These year round rental opportunities have been on the market an average of 58 days.

As of this morning, there are just three seasonal rental opportunities available and they have been on the market an average of  67 days, and at an average price of $17,500. The median  price of both furnished and unfurnished seasonal rentals is $11,250.

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.

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