Westport CT Housing and Real Estate Market Report Week of 3/17/15

The seasonal rise in inventory continues, and as of today,  there are now 272 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 $2,484,672 and the median price is at $2,099,000.

A four bedroom home on Beachside Avenue on 7.13 acres is the highest priced home for sale at $22,000,000, and the lowest available priced home is a five bedroom home on 40 Ferry Lane East for $405,000.

Twenty-four new listings came on the market in the last seven days, and two properties came back on the market after being under deposit, or temporarily withdrawn.  Twelve properties had a price change.

Nine 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 $1,793,857. There are currently 26 homes in CTS status throughout Westport, and another 39 properties scheduled to close town-wide, with an average price of $1,765,918.

Closings: There were nine single family homes reported as sold in the last week, These nine homes were listed on average at $1,949,111 and sold with an average market time of 160 days. There were 69 status changes in the last seven days.

Condos: There are nine condominiums that are available, and they have been listed an average of 46 days. Their average listing price is $736,100 and the median price is $689,000.

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 was one new listing this week, and no homes came back on the market after being under deposit. There were two price changes, and two properties entered into the initial stage of deposit. No homes entered into pending status.

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

One sale was reported during the last week, and was listed at $799,900. There were six status changes.

Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 42 homes or apartments available. The median price is $4,900 per month and the average price is $5,174 per month. These year round rental opportunities have been on the market an average of 88 days.

There are 31 short-term rental opportunities that are available, and they have been on the market an average of 42 days. Their average price is $14,897 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