Marilyn Katz - Westport, CT Real Estate

 

 

working with you to make ALL THE RIGHT MOVES

Westport Real Estate Market Statistics - 2007

Please bookmark this page and check back often for the latest market information

The following tables represent monthly sales of single family homes

After a one month dip, prices for December 2007 are once more outpacing sales, a year ago. Median sold price rose to $1,751,000, more than $700,000 higher than last month. Properties, however, were staying on the market 25% longer, before selling.  Unit sales, for the month, were off 27% versus December 2006.

December 2007

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$9,000,000

  $598,000 

 $2,218,759

 $1,782,000 

 $48,812,699

Sold Price

 $10,400,000 

  $525,000

 $2,203,205

$1,751,000 

 $48,470,500

  126

  22

Percentage

115.6%

87.8% 

 99.3%  

98.3%

99.3% 

December 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 

 $39,128,510

  101

  28

Percentage

92.2%

92.9% 

 92.1%  

90.9%

 92.1% 

For the second consecutive month, unit sales, for November 2007, outpaced the corresponding period, a year ago.  Prices, however, took a nose dive.  Median sold price fell to $1,042,000.  The lowest it's been, all year.  Average price rose, but that was skewed by a $7,500,00 high sale.

November 2007

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$7,995,000

  $394,900 

$1,826,675

$1,048,750

 $43,840,200

Sold Price

 $7,500,000 

  $384,000

$1,724,737

 $1,042,000 

 $41,393,700

  108

 24

Percentage

93.8%

97.2% 

 94.4%  

99.6%

 94.4% 

November 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% 

For the first time, since June, monthly unit sales moved ahead of the corresponding month, a year ago.  There were 31 closed transactions, this October compared with 26, last month and 23, in October 2006.  Average sold price was up 12%, from September, but this number was skewed by the high sellers.  Median sold price fell from $1,576,000, in September, to $1,337,500, in October.   

October 2007

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$5,950,000

  $449,000 

 $1,935,577

 $1,369,000

 $60,002,900

 

 

Sold Price

 $5,600,000 

  $440,000

 $1,869,419

  $1,337,500 

 $57,952,000

120

31

Percentage

94.1%

98.0%

96.6%

97.7%

96.6%

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% 

The housing market slowdown was clearly reflected in closed unit sales, in September. Only 26 transactions closed, a 42% drop from last month and a 32% decline from September 2006.  Prices, however, continued to climb.  The median sold price rose to $1,576,000, more than one third higher than the corresponding month, a year ago.  Days on the market remained  around three and a half (3.5) months, continuing the summer trend.

September 2007

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$3,395,000

  $749,000 

 $1,723,688

 $1,637,000

 $44,815,900

 

 

Sold Price

 $3,200,000 

  $700,000

 $1,638,096

  $1,576,250

 $42,590,500

105

26

Percentage

94.3%

93.5%

95.0%

96.3%

95.0%


September 2006

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$3,600,000

  $535,000

 $1,457,400

 $1,237,000 

 $55,381,200

Sold Price

 $3,595,000 

  $500,000

 $1,395,617

 $1,174,750 

 $53,033,450

89

38

Percentage

99.9%

93.5%

95.8%

95.0%

95.8%

August unit sales fell below the comparable period, a year ago, for the first time since March.  Average sold price also dipped below last year, but that was skewed by the lower priced top selling property.  Median price was up $90,000, a 7% gain. 

August 2007

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$2,899,000

  $590,000 

 $1,588,701

 $1,450,000

 $71,491,525

 

 

Sold Price

 $2,775,000 

  $591,500

 $1,528,714

  $1,440,000 

 $68,792,127

107

45

Percentage

95.7%

100.3%

96.2%

99.3%

96.2%


August 2006

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$3,825,000

  $549,000

 $1,620,236

 $1,395,000 

 $76,151,098

Sold Price

 $3,438,000 

  $549,000

 $1,541,471

 $1,350,000 

 $72,449,150

105

47

Percentage

89.9%

100.0%

95.1%

96.8%

95.1%

As we moved into the summer months, Westport home sales remained steady.  July unit sales kept apace with 2006, while prices inched higher.  One in six closed transaction sold at or above most recent asking price as evidenced by the higher median price for sold vs list.

July 2007

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$6,500,000

  $599,000 

 $1,787,035

 $1,325,000 

 $69,694,376

Sold Price

 $5,000,000 

  $600,000

 $1,682,885

 $1,350,000 

 $65,632,534

104

39

Percentage

76.9%

100.2%

94.2%

101.9%

94.2%


July 2006

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$7,500,000

  $599,555

 $1,753,154

 $1,249,500 

 $66,619,854

Sold Price

 $6,900,000 

  $592,500

 $1,690,001

 $1,225,000 

 $64,220,036

77

38 

Percentage

92.0%

98.8%

96.4%

98.0%

96.4%

The spring market continued to show strength, with June, monthly unit sales outpacing a year ago by 45%.  The median sold price took a small dip (-1.6%), but overall dollar volume rose nearly $39 million, a solid 59% gain over June 2006.

June 2007

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$5,495,000

  $473,000 

 $1,663,140

 $1,324,000 

 $106,440,975

Sold Price

 $6,700,000 

  $445,000

 $1,634,094

 $1,260,250 

 $104,582,040

90

64

Percentage

121.98%

94.1%

98.3%

95.2%

98.3%


June 2006

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$3,995,000

  $599,200 

 $1,551,305

 $1,357,000 

 $68,257,400

Sold Price

 $3,925,000 

  $560,000

 $1,494,455

 $1,281,250 

 $65,756,000

80

44 

Percentage

98.2%

93.5%

96.3%

94.4%

96.3%

May's average single family home sale price, was off 6 percent, year over year.  However, this number was skewed by the $25 million sale, last May.  A more telling statistic is the median sale price, which was up 19%, over a year ago.  52 transactions closed, this May, a 41% increase, over the corresponding month, last year, and the highest monthly closed unit sales total, since August 2005.

May 2007

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$6,500,000

  $549,000 

 $1,970,348

 $1,645,000 

 $102,458,075

Sold Price

 $5,900,000 

  $520,000

 $1,896,570

 $1,595,000 

 $98,621,650

108

52

Percentage

90.8%

94.7%

96.3%

97.0%

96.3%


May 2006

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$25,000,000

  $649,900 

 $2,055,889

 $1,339,000 

 $76,067,899

Sold Price

 $25,000,000 

  $625,000

 $2,014,189

 $1,289,000 

 $74,525,000

97

37  

Percentage

100%

96.2%

98.0%

96.3%

98.0

The spring market got a healthy boost, as April closed sales of single family homes outpaced a year ago, in both units and selling price.  Although it took longer to sell a home (113 vs 84 DOM), average selling price jumped 12%, while the median sold price was up 21%.  Overall, monthly dollar volume increased by $18 million, a 30% jump.

April 2007

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$5,100,000

  $399,000 

 $1,846,618

 $1,749,500 

 $62,785,025

Sold Price

 $5,000,000 

  $385,000

 $1,763,915

 $1,710,050 

 $59,973,100

113

34 

Percentage

98.0%

96.5%

95.5%

97.7%

95.5%

April 2006

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$3,299,000

  $375,000 

 $1,612,814

 $1,395,000 

 $43,546,000

Sold Price

 $3,150,000 

  $360,000

 $1,553,712

 $1,355,000 

 $41,950,244

84

 27 

Percentage

95.5%

96.0%

96.3%

97.1%

96.3%

The median sales price of  a home, closed in March, moved up to $1,340,000.  This represents the first time, this quarter, that median sales price moved ahead of the corresponding month, in 2006.  Unit sales continue to lag behind a year ago 

March 2007

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$4,975,000

  $495,000

 $1,590,268

 $1,399,000

$46,117,800

 

Sold Price

$4,975,000

  $435,000

 $1,524,224

 $1,340,000 

$44,202,500

118

29

Percentage

100.0%

87.9%

 95.8%   

92.4%

96.3%

March 2006

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$5,495,000

$699,000

 $1,746,537

 $1,355,000

 $69,861,500

Sold Price

$5,250,000

 $651,000

  $1,680,812

 $1,310,000

 $67,232,501

   88

   40
Percentage

95.5%

93.1%

 96.2%   

96.7%

96.2%  

Monthly, single family home sales continued to lag behind a year ago.  Unit sales held steady with the previous month, but remained behind February 2006 units, by 26%.  Total sales, dollar volume was off 53%.

February 2007

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$3,595,000

  $575,000

 $1,381,111

 $1,299,000

$23,478,900

 

Sold Price

$3,475,000

  $540,000

 $1,329,838

 $1,200,000 

$22,607,250

133

17

Percentage

96.7%

93.9%

 96.3%   

92.4%

96.3%

February 2006

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$7,999,500

$480,000

 $2,227,169

 $1,865,000

 $51,224,900

Sold Price

$7,050,000

 $475,000

  $2,091,847

 $1,800,000

 $48,112,500

   129

   23

Percentage

88.1%

99.0%

 93.9%   

96.5%

93.9%  

Number of units closed was down, by half, this January, compared with January 2006.  Anecdotal evidence, however, indicates a much stronger start to the year.  This should be reflected in number of closed transactions, in the next 2 to 3 months.

January 2007

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$5,825,000

  $419,000

 $1,811,469

 $1,282,000

$28,983,500

 

Sold Price

$5,565,000

  $410,000

 $1,651,531

 $1,252,500 

$26,424,500

121

16

Percentage

95.5%

97.9%

 91.2%   

97.7%

91.1%

January 2006

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$6,100,000

$599,000

 $1,646,400

 $1,342,000

 $55,977,600

Sold Price

$6,100,000

 $575,000

  $1,584,272

 $1,282,500

 $53,865,250

   102

   34

Percentage

100%

96.0%

 96.2%   

95.6%

96.2%  

     * 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


2007 Quarterly Statistics


While the Westport housing market appeared to be on hold, during the the first three months of 2007, the pent up sales activity exploded, in the second quarter, creating a solid spring market.  Westport unit sales of single family homes rose 41% over 2nd quarter, 2006.  Total dollar volume chalked up an $84 million increase and median sales price rose 15%. 

The market began the third quarter on solid ground, but the final numbers began to show the effects of the "buyer's market."  Although median price continued to outpace 2006, it fell 8%. from 2nd quarter 2007.  Unit sales, were off 27%, from the previous quarter and down 10%, compared with 3rd quarter 2006. 

Unit sales in the final quarter outpaced the corresponding period, a year ago, pushing the yearly solds up slighltly, from 2006 (407 v. 400.)  Total dollar volume, for the 4th quarter, rose 54% over 4th quarter, 2006, buoyed by the increase units and high end sales.


Back to
Home Page

Home  |  Buying a Home in Westport  |  Selling a Home in Westport  |  Search MLS/IDX Listings  |  2010 Wspt Market Statistics  |  2011 Wspt Market Statistics  |  2012 Wspt Market Statistics  |  2013 Wspt Market Statistics  |  2014 Wspt Market Statistics  |  2015 Wspt Market Statistics  |  2016 Wspt Market Statistics  |  2017 Wspt Market Statistics  |  Calculators  |  Welcome to Westport  |  Community Information  |  Westport Market Areas  |  Compo Beach Playground   |  About Connecticut  |  About BHHSNE  |  Resources  |  Contact Me  |  Real Estate Industry News
 

Privacy Policy  |  Site Map  |  Profile  |  Sign In

Choose language: