Snapshot of Westport Real Estate Market

September 24th, 2011

What is happening in the Real Estate market in Westport, CT?  Not much.  Currently there are 330 single family homes on the market in Westport, and the average list price is $2,155,086.  The average market time for these properties is 131 days.  The inventory based upon the current absorption rate is 8.3 months.

In Westport the highest asking price for all homes on the market currently is $24,950,000 and the lowest priced home is currently $380,000.

So, how do you make your home stand out in Westport? It certainly takes a lot more that clean windows and scented candles to sell a home in today’s real estate market.

  • Online appeal- the best property doesn’t have a chance with poor photography.  A buyer’s first impression of your home starts online.
  • Curb appeal- curb appeal literally starts at the curb.  Does it need to be weeded? Are the concrete curbs in good condition?  A quick driveway resealing is relatively inexpensive and works wonders for the appearance of your house.
  • Keep it clean!  Nobody buys a dirty shirt …why would they buy a dirty house.
  • get rid of clutter and de-personalize your home. It’s best to start packing and put excess items in moving boxes.  It’s ok to have boxes stored in the garage or elsewhere, because you are moving.
  • Consider the smell of your house.  Have a neighbor or someone else come in and smell it.  You might tell them that you have been smelling something and ask them if they smell it too.  This will encourage them to tell you the truth.

No surprises.  Buyers don’t like surprises.  It is best to use full disclosure.  It is a great idea to have a pre-market inspection done.

What really makes a home stand out in Westport is price!  There is no objection which cannot be overcome by price.

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The Heat is on in Westport, CT

July 4th, 2011

The Class of 2011 graduated from Staples High School on Wednesday, June 22nd, and school’s out for the summer.  On Friday, July 1st, the fireworks were amazing at Compo Beach in Westport,CT!  Summer is here and there is plenty to do in Westport, CT.

The Levitt Pavillion has 57 nights of entertainment under the stars!  Bring your own chairs, picnic, and friends and enjoy a night of entertainment, music, and fun and it is free! It is a wonderful venue in Westport,CT right along side the river behind the Westport Library.  Visit www.levittpavillion.com to view the schedule.

The outdoor Art Show takes place on July 16-17th along the sidewalks of Parker Harding Plaza and along Main Street in Westport.  Over 125 artists display their original art.  Visit www.westportdma.com for more information.

Visit the Westport Farmers’ Market every Thursday from 10am-2pm.  The Westport Farmers Market is located at the Imperial Avenue commuter parking lot in Westport.  This is a great place to buy fresh fruit and vegetables and home baked goods. yum!!!

Longshore is open every day and boasts a beautiful golf course, swimming, tennis and sailing for Westport residents.  Longshore is also home to the restaurant, Splash.  Splash has glorious views of the Long Island Sound.  Splash has an innovative menu,fun atmosphere and you can’t beat the view!

Compo Beach is Westport’s jewel.  This stretch of sandy beach is perfect for an early morning walk or jog.  There is a pavillion with Joey’s where you can purchase anything from frozen yogurt, salads, to burgers and fries.  There are picnic tables, volleyball nets, a playground for endless fun, and barbeque pits.   Compo Beach even has a skateboard park!!

Enjoy Westport in the summer.  There’s no better place!

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Spring Market in Westport, CT

February 17th, 2011

When is the spring market in Westport, CT??  It is the time when sellers and buyers come out of hibernation. But if you actually wait for Spring to sell your house…it may be too late.

When is Spring Market in Real Estate?

Good question.  When I think of Spring, I think of April showers and tulips and daffodils.  But in real estate in Westport, CT, by May the spring market is half over.  You may have missed your buyer if you wait until April or May to list your house for sale.

If you are thinking of putting your house on the market for sale in the spring, you should be thinking of February or March.  Believe it or not, Super Bowl unofficially marks the beginning of the spring real estate market (even here in Westport, CT with snow on the ground).

Why February?  Your house may take several months to sell.   Most buyers want to find a house by the summer so that they can close and move in during the summer and be settled in their new home before the beginning of the school year.

So, even though it doesn’t feel like spring in Westport, CT, it truly is the spring market in real estate in Westport.

It’s time to start the spring cleaning!!

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Wecome to 2010

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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Local Housing Data Westport, CT August 2009

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.

Unit Sales
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.
Median Sales Price
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.
Total Inventory
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.
Market Time for Sold

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Local Housing Data Weston, CT August 2009

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.

Unit Sales
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.
Median Sales Price
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.
Total Inventory
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.
Market Time for Sold

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Local Housing Data Fairfield, CT August 2009

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.

Unit Sales
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.
Median Sales Price
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.
Total Inventory
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.
Market Time for Sold

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Local Housing Data Greenwich, CT August 2009

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.

Unit Sales Greenwich
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.
Median Sales Price
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.
Total Inventory
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.
Market Time for Sold

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Local Housing Data Westport, CT July 2009

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.Unit Sales Westport

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.
Median Sales Price Westport
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.
Total Inventory Westport
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.
Market Time for Sold Westport

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Local Housing Data Weston July 2009

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.

Unit Sales Weston

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.
Median Sales Price Weston
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.
Total Inventory Weston
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.
Market Time Sold Weston

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