Marilyn Katz - Westport, CT Real Estate

 

 

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Westport Real Estate Market Statistics - 2006

The following tables represent sales of single family homes that closed during the 4th quarter of the year

December proved to be the best month of the quarter, for number of homes sold.  Not only did the number improve over the previous two months, but it also outpaced number of homes sold in Dec 2005.  Prices, however, were a different story.  The median sales price was down 3.9%, over last year, and off 5.2% from the previous month. Average market time (MT) improved a bit over the previous two months, but remained three weeks longer than time on market, last December.

December 2006

Dec 2006

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$4,095,000

  $539,000 

 $1,517,207

 $1,262,500 

 $42,481,800

Sold Price

 $3,775,000 

  $500,000

 $1,397,432

$1,147,500 

 $39,128,100

  101

  28

Percentage

92.2%

92.9% 

 92.1%  

90.9%

 92.1% 

December 2005

Dec 2005

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$10,800,000

  $519,000 

  $1,673,087 

 $1,247,500

 $43,500,275

Sold Price

$10,800,000

 $500,000

  $1,604,301

 $1,194,675 

  $41,711,849 

   78     26
Percentage

100.0%

96.3% 

 95.9%  

95.8%

 95.9% 

November sales continued to lag behind 2005.  Number of homes sold was down 24%, from a year ago, while average sales price improved slightly (+0.6%).  Median sales price was off 6.4%, over last year, but jumped 14.3% over the previous month. Average market time (MT) for homes sold in November was four months, three weeks longer than time on market, a year ago.

November 2006

Nov 2006

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$3,950,000

  $589,000 

 $1,603,247

 $1,295,000 

 $33,669,700

Sold Price

 $3,350,000 

  $560,000

 $1,482,285

$1,210,000 

 $31,128,000

  123

  21

Percentage

84.8%

95.1% 

 92.5%  

93.4%

 92.5% 

November 2005

Nov 2005

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

 $3,750,000

  $589,000 

  $1,618,879 

 $1,485,000

 $40,471,999

Sold Price

  $3,325,000 

 $565,000

  $1,531,000

 $1,385,000 

  $38,275,001 

   99     25
Percentage

 88.7%

95.9% 

 94.6%  

93.3%

 94.6% 

During October, the housing market, in Westport, slowed considerably, over a year ago.  October sales of single family homes were down 26%, while average days on the market rose 38%.  The average selling price was off 13%. 

October 2006

Oct. 2006

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$3,495,000

  $579,000 

 $1,277,021

 $1,199,000 

 $29,371,500

Sold Price

 $3,300,000 

  $520,000

 $1,213,956

 $1,135,000 

 $27,921,000

  120 

   23

Percentage

 94.4%

89.8% 

 95.1%  

94.7%

 95.1% 

October 2005

Oct. 2005

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

 $6,000,000

  $637,000 

  $1,448,129 

 $1,225,000

 $44,892,000

Sold Price

  $5,800,000 

 $600,000

  $1,399,405

 $1,200,000 

  $43,381,567 

   87      31
Percentage

 96.7%

94.2% 

 96.6%  

98.0%

 96.6% 

     * Reflects the most recent  list price.  Previous price reductions may have been taken                

THIS DATA IS COMPILED FROM THE CONSOLIDATED MULTIPLE LISTING SERVICE AND MAY NOT ALWAYS BE ACCURATE. NO WARRANTY IS MADE AS TO THE ACCURACY OF THIS INFORMATION. YOU SHOULD VERIFY ANY INFORMATION THAT IS IMPORTANT TO YOUR BUYING DECISION.


Westport Unit Sales


 

Quarterly Statistics


After a solid first quarter, Westport sales of single family homes has continued to trend down.  Number of homes that closed, Jan-March, was off 2% over a year ago, but that figure dropped precipitously, in the 2nd quarter, falling 23.4%, and continued to fall in the 3rd quarter, trending down 26.5%.  The picture brightened somewhat, in the 4th quarter, with December actually outpacing homes sold, a year ago.  Overall, the number of homes sold, Oct-Dec, was off 12% from 2005.

Average sold price remained strong for the first half of the year, up 35.7% (Jan-Mar) and 24.8% (Apr-Jun), compared with 2005.  As the market cooled, prices followed.  Average sold price, for the 3rd quarter of 2006 eked out a narrow 1.9% rise over 3rd quarter 2005, but was off 11.3% from 1st quarter 2006.  Average sold price was down 9%, in the 4th quarter, compared with 2005.  Homes closed in the final quarter, sold for 93% of the most recent listing price.  This compares with a 95.7% ratio, in 2005.

2006 Quarterly Statistics


Monthly Statistics


In November, we saw evidence that Westport real estate had become a  "buyer's market", as selling prices came in 7 1/2 percent below most recently posted list prices.  December data further confirmed that conclusion, with houses selling nearly 8% below asking price.  The average discount from listing price, for the the first ten months, of the year, was 4.1%.

2006 Monthly Statistics


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