Westport CT Real Estate Market Update Week of March 20, 2012

There are 326 homes that are actively on the market, and their average
list price is $2,087,620.  These properties that are currently on the
market  have been listed for average of 110 days, and the median price has remained for the time being at $1,323,500.

The highest asking price for all homes currently on the market is
$19,900,000, and the lowest available priced home is $192,900.

Fifteen new listings came on the market in the last seven days, and one home came back on the market after being under deposit. Fifteen properties
had a price change.

Seven 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 price of these six pending properties was $1,299,750 and they
were on the market an average of  just 86 days.

Closings: Eight homes were reported as sold in the last week, and their
average list price was $1,958,000. Average market time for these sold
properties was 122 days. There were 62 status changes in the last seven
days.

Condos: There are eighteen condominiums that are available, and they have
been listed an average of 161 days. Their average listing price is
$646,161,  and the median price is  $542,499. The highest priced condo in
town is listed at $1,495,000 and the lowest offering price is $325,000.

There was one new listing this past week, and no properties came back on the market after being under deposit. No properties had a price change. No properties went into the either the CTS stage or pending stage of deposit.
One condominium was reported as sold in the last seven days, and was listed at $699,000. There was four status changes.

Rentals: If you are interested in renting year round, either furnished or
unfurnished, there are 64 homes or apartments available. The median price
is $3,650 per month and the average price is $5,267 per month. These year round
rental opportunities have been on the market an average of 81 days.

The seasonal rental market has been showing a steady increase over the past few weeks, and there are now 36 seasonal rental opportunities available, and they
have been on the market an average of 35 days.  Their  average price is
$18,809, and the median price is $13,750. 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.

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

JudyMarch 22, 2012