2011 Year End Estate Westport CT Real Estate Market Stats are in!
2011's final real estate sales figures are here, and we have compiled the Market History for Westport Connecticut with seven years of annual statistics dating back to 2005. Quick recap by year includes number of sales, average sales price and sales to list price ratio.
Initial numbers show 2011's average sales price at $1,338,229 while 2010 average sales price was at $1,445,007 which appears to be about an eight percent drop in value BUT don't be quick to jump on that bandwagon- 2010's figures need to be adjusted due to some sales anomalies and the overall decrease in value appears to be more like four percent. We still have to review the numbers and statistics to give a final analysis.
It is VERY important to note that when you look at year over year figures, amount of sales, and average sales prices, that it does not necessarily mean that prices have fallen significantly or risen at all, for that matter. For example, a 20M sale recorded in 2010 is somewhat of an anomaly and should not be taken into complete account comparing year over year average prices. Something else to note is that Westport was only shy seven sales from 2010, while most towns were down significantly year over year.
There are certain adjustments that will need to be made, and pricing anomalies that have to be addressed before any percentage of gain or loss is calculated. Certain sales can skew statistics out of probable proportion, and have to be looked at and analyzed quite closely before a true overview and forecast can be given. What I am saying is don't get too excited just yet.
Click to view Westport CT 7 year Real Estate Recap and Reports
PRICE RANGE RECAP: statistics for single family homes with sales data sorted by incremental price ranges and this report includes market time, median, high and low sales prices, plus total dollar volume in sales.
BEDROOM COUNT RECAP: Sales statistics for single family homes and rentals sorted by bedroom count. This report includes number of sales, average sale prices, sale to list price ratio, and multi family home sales are included for your convenience.
Remember, these are raw statistics at this point, and need expert interpretation before you can start celebrating the market change, or remain conservative. We will be posting our opinions on the Westport market within the next few weeks, so stay tuned.
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
