January 8th, 2010
Now may be the time to buy a home in Westport. It looks like the Westport market has found the bottom and is beginning its recovery. In January of 2009 we had 66 months of inventory, whereas now we have about 15 months of inventory on the market.
This also may be the time to sell your house in Westport. Now that there is less inventory there is less competition in the marketplace. Price your home competitively to ensure that the buyer perceives value. Don’t overprice your home and have it sell your competition.
Buyers are out in the market and going to Open Houses
Don’[t wait to put your house on the market. Act now and attract one of the buyers that is in the market now.
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September 22nd, 2009
Sales
Sales in August were 31. This is down 13.9% from 36 in August of 2008. Sales/list price ratio in August moved down to 93.2% from 93.9% in July.
Prices
Median price in August was $1,380,000. This is down 5.2% from $1,455,000 in August of 2008. Average sale price (most recent 3 months) is $1,494,417, down moderately from $1,797,595 in 2008.
Inventory
Inventory is 410, up somewhat from 367 in 2008. New listings of 39 in August were down substantially from 67 in July and down considerably from 46 in August of 2008.
Market Time
Days on market of 108 in August was down moderately from 113 in July but up modestly from 105 in August of 2008. Months of supply in August moved down to 21.3 from 22.2 in July.
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September 22nd, 2009
Sales
Sales in August were 13. This is down 18.8% from 16 in August of 2008. Sales/list price ratio in August moved down to 91.9% from 95.2% in July.
Prices
Median price in August was $1,075,000. This is up 5.4% from $1,020,000 in August of 2008. Average sale price (most recent 3 months) is $963,758, way down from $1,279,442 in 2008.
Inventory
Inventory is 188, up modestly from 176 in 2008. New listings of 23 in August were down somewhat from 27 in July but up considerably from 14 in August of 2008.
Market Time
Days on market of 121 in August was up substantially from 86 in July and up marginally from 121 in August of 2008. Months of supply in August moved up to 28.2 from 27.8 in July.
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September 22nd, 2009
Sales
Sales in August were 54, unchanged from the same month last year. Sales/list price ratio in August moved down to 92.1% from 94.0% in July.
Prices
Median price in August was $591,250. This is down 10.1% from $657,500 in August of 2008. Average sale price (most recent 3 months) is $746,190, down considerably from $843,990 in 2008.
Inventory
Inventory is 555, up modestly from 515 in 2008. New listings of 80 in August were down considerably from 106 in July but up somewhat from 70 in August of 2008.
Market Time
Days on market of 95 in August was down moderately from 108 in July and down considerably from 107 in August of 2008. Months of supply in August moved down to 14.4 from 14.9 in July.
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September 22nd, 2009
Sales
Sales in August were 28. This is down 40.4% from 47 in August of 2008. Sales/list price ratio in August moved up to 91.1% from 87.6% in July.
Prices
Median price in August was $1,415,000. This is down 29.3% from $2,000,000 in August of 2008. Average sale price (most recent 3 months) is $2,911,688, very slightly up from $2,855,146 in 2008.
Inventory
Inventory is 752, way up from 612 in 2008. New listings of 47 in August were down considerably from 87 in July and down moderately from 53 in August of 2008.
Market Time
Days on market of 195 in August was way up from 148 in July and up considerably from 122 in August of 2008. Months of supply in August moved up to 36.1 from 35.8 in July.
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August 18th, 2009
Sales
Sales in July were 34. This is down 10.5% from 38 in July of 2008. Sales/list price ratio in July moved up to 93.9% from 92.9% in June.
Prices
Median price in July was $1,290,000. This is down 14.9% from $1,515,000 in July of 2008. Average sale price (most recent 3 months) is $1,418,242, way down from $1,775,833 in 2008.
Inventory
Inventory is 437, up considerably from 378 in 2008. New listings of 67 in July were way down from 88 in June but up modestly from 61 in July of 2008.
Market Time
Days on market of 113 in July was up a bit from 105 in June and way up from 90 in July of 2008. Months of supply in July moved down to 22.2 from 22.3 in June.
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August 18th, 2009
Sales
Sales in July were 10, the same as last month. Sales/list price ratio in July moved up to 95.2% from 92.2% in June.
Prices
Median price in July was $731,250. This is down 25.6% from $982,500 in July of 2008. Average sale price (most recent 3 months) is $902,037, down considerably from $1,250,362 in 2008.
Inventory
Inventory is 192, up marginally from 188 in 2008. New listings of 27 in July were down considerably from 41 in June and down modestly from 28 in July of 2008.
Market Time
Days on market of 86 in July was way down from 112 in June and down considerably from 98 in July of 2008. Months of supply in July moved up to 27.8 from 23.6 in June.
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August 18th, 2009
Sales
Sales in July were 80. This is up 5.3% from 76 in July of 2008. Sales/list price ratio in July moved up to 94.0% from 93.5% in June.
Prices
Median price in July was $600,000. This is down 13.7% from $695,000 in July of 2008. Average sale price (most recent 3 months) is $712,989, down somewhat from $837,963 in 2008.
Inventory
Inventory is 578, up a bit from 553 in 2008. New listings of 106 in July were down somewhat from 118 in June but up just slightly from 104 in July of 2008.
Market time
Days on market of 108 in July was up a bit from 101 in June and up moderately from 98 in July of 2008. Months of supply in July moved down to 14.9 from 15.7 in June.
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August 18th, 2009
Sales
Sales in July were 55. This is up 7.8% from 51 in July of 2008. Sales/list price ratio in July moved up to 87.6% from 84.2% in June.
Prices
Median price in July was $2,162,500. This is down 2.8% from $2,225,000 in July of 2008. Average sale price (most recent 3 months) is $3,008,068, up moderately from $2,775,895 in 2008.
Inventory
Inventory is 339, down substantially from 546 in 2008. New listings of 87 in July were down moderately from 94 in June and down somewhat from 93 in July of 2008.
Market Time
Days on market of 148 in July was down modestly from 160 in June but up somewhat from 131 in July of 2008. Months of supply in July moved down to 30.2 from 31.1 in June.
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July 21st, 2009
Sales
Sales in June were 29. This is down 6.5% from 31 in June of 2008. Sales/list price ratio in June moved up to 92.9% from 89.3% in May.
Prices
Median price in June was $1,150,000. This is down 21.8% from $1,470,000 in June of 2008. Average sale price (most recent 3 months) is $1,222,373, down substantially from $1,654,203 in 2008.
Inventory
Inventory is 446, up considerably from 396 in 2008. New listings of 88 in June were up substantially from 66 in May and way up from 72 in June of 2008.
Market Time
Days on market of 105 in June was down considerably from 133 in May and down modestly from 109 in June of 2008. Months of supply in June moved up to 22.3 from 21.8 in May.
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