Marilyn Katz - Westport, CT Real Estate

 

 

working with you to make ALL THE RIGHT MOVES

Westport Real Estate Market Statistics - 2009

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

The following tables represent monthly sales of single family homes

 

The pattern continued in the final month of the 4th quarter, with unit sales outpacing the coresponding period, a year ago.  While number of single family homes sold showed a gain of 24%, prices continued to be pressured to the downside.  Average sold price was off by 14%.   

December 2009

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$3,999,000

  $560,000 

 $1,464,295

 $1,180,000

 $30,750,200

 

 

Sold Price

 $3,500,000 

  $530,000

 $1,312,147

  $1,212,000

 $27,555,100

154

21

Percentage

87.5%

94.6%

89.6%

102.7%

89.6%

 

December 2008

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$4,800,000

  $699,000 

 $1,644,181

 $1,209,500

 $26,306,900

 

 

Sold Price

 $4,600,000 

  $650,000

 $1,521,625

  $1,070,000

 $24,346,000

140

16

Percentage

95.8%

93.0%

92.5%

88.5%

92.5%

 

 

Unit sales surged, in November, posting an 86% gain vs. November 2008.  It was the lower price points, however, that again supported the market.  Half of the homes sold for less than $900,000.  Average time on the market rose to 161 days. 

November 2009

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$4,695,000

  $550,000

 $1,379,723

 $942,000

 $35,872,799

 

 

Sold Price

 $4,100,000

  $555,000

 $1,271,343

  $897,500

 $33,054,925

161

26

Percentage

87.3%

100.9%

92.1%

95.3.9%

92.1%

 

November 2008

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$10,950,000

  $749,900 

 $2,269,342

 $1,597,450

 $31,770,800

 

 

Sold Price

 $9,825,000 

  $750,000

 $2,099,000

  $1,500,000

 $29,386,000

113

14

Percentage

89.7%

100.0%

92.5%

93.9%

92.5%

 

 

For the first time this year, monthly units sales outpaced the corresponding period, a year ago (29 vs. 23).  October median sales price jumped to $1,250,000, an increase of $267,500, compared with the previous month. However, homes were taking longer to sell, with market time averaging five months.

October 2009

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$8,500,000

  $295,900 

 $2,092,531

 $1,395,000

 $60,683,400

 

 

Sold Price

 $6,850,000

  $277,000

 $1,906,155

  $1,250,000

 $55,278,500

150

29 

Percentage

80.6%

93.6%

91.1%

89.6%

91.1%

 

October 2008

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$3,995,000

  $500,000 

 $1,440,483

 $1,169,000

 $33,131,116

 

 

Sold Price

 $4,000,000 

  $470,000

 $1,374,689

  $1,110,000

 $31,617,850

114

23

Percentage

100.1%

94.0%

95.4%

95.0%

95.4%

 

 

Median sold price, in September, was off a whopping 35%, compared with the corresponding period, last year.  This despite the fact that one quarter of the sales were in the $1.5 mil to $2 mil price point.  Units sales continued to lag last year, down 13%.

September 2009

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$3,250,000

  $549,000 

 $1,310,418

 $1,012,500 

 $26,208,376

   
Sold Price

 $3,062,000 

  $549,000

 $1,219,975

 $982,500 

 $24,399,500

114

20

Percentage

94.2%

100.0%

93.1%

97.0%

93.9%

 

September 2008

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$3,995,000

  $399,000 

 $1,587,256

 $1,595,000 

 $36,506,899

   
Sold Price

 $3,995,000 

  $385,000

 $1,506,086

$1,500,000 

 $34,640,000

84

23

Percentage

100.0%

96.5%

94.9%

94.03%

94.9%

 

 

Although the housing market remained soft, compared with a year ago, the median sold price of a single family home continued to inch up, in August.  Unit sales were down 14%  vs. August 2009 and average selling price was off by 20%.

August 2009

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$6,850,000

  $399,000 

 $1,544,964

 $1,499,000 

 $47,893,900

   
Sold Price

 $6,500,000 

  $340,000

 $1,439,596

 $1,380,000 

 $44,627,500

107

31

Percentage

94.9%

85.2%

93.2%

92.1%

93.2%

 

August 2008

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$7,779,000

  $515,000 

 $1,937,755

 $1,549,000 

 $69,759,200

   
Sold Price

 $7,125,000 

  $480,000

 $1,806,083

 $1,455,000 

 $65,019,000

104

36

Percentage

91.6%

93.2%

93.2%

93.9%

93.2%

 

 

July's single family home, monthly average selling price, posted its highest level since February.  The median sales price, at $1,300,000 was off 16%, compared with July 2008.  Units sales lagged behind a year ago, down 13%. 

July 2009

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$4,200,000

  $480,000 

 $1,721,781

 $1,395,000 

 $56,818,799

   
Sold Price

 $3,975,000 

  $424,000

 $1,616,212

 $1,300,000 

 $53,335,000

110

33

Percentage

94.6.3%

88.3%

93.9%

93.2.3%

93.9%

 

July 2008

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$5,300,000

  $399,000 

 $2,060,202

 $1,724,000 

 $78,287,700

   
Sold Price

 $5,000,000 

  $397,500

 $1,933,921

 $1,538,750 

 $73,489,000

89

38

Percentage

94.3%

99.6%

93.9%

89.3%

93.9%

 

 

The market again found its footing, in June, as unit sales were only 2 behind 2008 figures.  Dollar sales, however, continued to be weak, as the lower end still dominated.  Median price for a single family home fell 22%, compared with June 2008

June 2009

 

  

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$3,250,000

  $450,000 

 $1,538,056

 $1,195,500 

 $44,603,649

   
Sold Price

$3,250,000

  $425,000

 $1,429,401

 $1,150,000 

 $41,452,650

104

29

Percentage

100.0%

94.4%

92.9%

96.2%

92.9%

 

June 2008

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$6,250,000

  $529,900 

 $1,694,041

 $1,544,000 

 $52,515,299

   
Sold Price

 $6,150,000 

  $487,000

 $1,620,629

 $1,470,000 

 $50,239,500

108

31

Percentage

98.4%

91.9%

95.7%

95.2%

95.7%

 

The encouraging signs shown earlier, this spring, came to a screeching halt in May.  Single family home sales fell 33%, compared with May 2008.  Home sales remained concentrated in the low end of the market, as evidenced by a median sale price of $870,000, $30,000 below last month and $670,000 below a year ago. 

May 2009

 

  

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$2,345,000

  $525,000 

 $1,133,804

 $919,500

 $18,140,876

   
Sold Price

 $1,975,000

  $462,500

 $1,012,093

 $870,000

 $16,193,500

132

16

Percentage

84.2%

88.1%

89.3%

94.6.9%

89.3%

 

 

May 2008

 

  

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$6,250,000

  $659,000 

 $1,848,770

 $1,572,500 

 $44,370,499

   
Sold Price

 $5,700,000 

  $632,000

 $1,726,000

 $1,540,000 

 $41,424,000

87

24

Percentage

91.2%

95.9%

93.3%

97.9%

93.4%

 

 

Home sales continued to show some improvement as we moved further into the spring market.  However, there was a definite shift in the market segment, selling.  Although the number of single family homes sold during April 2009 was only two shy of last April's results, dollar volume was off by 41%.  Half of the transactions were for sales under $900,000.  This represented a quarter of a million dollar shift from median price, a year ago.

April 2009

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$3,479,000

  $449,000 

 $1,175,082

 $929,000

 $19,976,400

 

 

Sold Price

$3,150,000 

  $445,000

 $1,067,116

  $900,000

 $18,140,988

 113

17

Percentage

09.5%

99.1%

90.8%

96.9%

90.8%

 

April 2008

 

  

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$6,000,000

  $483,900 

 $1,742,363

 $1,249,000 

 $33,104,900

   
Sold Price

 $5,800,000 

  $430,000

 $1,618,289

 $1,160,050 

 $30,747,500

117

19

Percentage

96.7%

88.9%

92.9%

92.9%

92.9%

 

 

March sale statistics continue the pattern set last month.  Although sales continue to lag 2008, units are only 3 behind March 2008, while median sold price is up 7%.  Average selling price is flat, compared with the comparable month, a year ago.

March 2009

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$3,495,000

  $585,000

 $1,627,416

$1,637,000

$19,529,000

 

Sold Price
$2,800,000

  $565,000

 $1,447,333

 $1,436,250 

$17,368,000

155

12

Percentage

80.1%

96.6%

88.9%   

87.7%

88.9%

 

March 2008

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$4,295,000

  $699,000

 $1,511,300

 $1,387,000

$22,669,500

 

Sold Price

$4,125,000

  $685,000

 $1,447,366

 $1,339,000 

$21,710,500

85

15

Percentage

96.0%

98.0%

95.8%   

96.5%

95.8%

 

Westport posted some encouraging numbers as we moved into the spring market.  Although still behind last year, unit sales were only off by 3 (11 vs. 14.)  Median sold price rose 8% compared with February 2008.  Anecdotal evidence says buyer activity is on the rise.  While one month does not make a trend, perhaps we are seeing a bottom starting to form.

February 2009

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$3,995,000

  $499,000

 $2,018,254

$1,599,000

$22,200,800

 

Sold Price
$3,828,405

  $420,000

 $1,819,300

 $1,599,000 

$20,012,305

143

11

Percentage

95.8%

84.2%

90.1%   

100.0%

90.1%

 

February 2008

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$7,100,000

  $450,000

 $2,183,614

 $1,637,000

$30,570,600

 

Sold Price

$6,235,000

  $440,000

 $2,025,000

 $1,475,000 

$28,350,000

178

14

Percentage

87.8%

97.8%

92.7%   

90.1%

92.7%

 

With only five single family homes selling in Westport, during the first month of the year, it is hard to make a statistically accurate assessment of the market.  However, a few items seem worth noting.  Units sales were down 72%, compared with January 2008.  The highest priced sale, at $1,200,000 was less than the median sale price, a year ago.  Overall sale to list price ratio was 82%, clearly an indication that this is a firmly entrenched buyer's market.

January 2009  

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*
$1,600,000

$459,000 

$837,000 $700,000

$4,188,000

 

Sold Price

$1,200,000

$395,000 

$688,212 $560,000

$3,441,060

 120

 5
Percentage

75.0%

79.8%

82.2%   

80.0%

82.2%

 

January 2008

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$5,999,000

  $675,000

 $1,915,188

 $1,299,500

$34,473,400

 

Sold Price

$5,200,000

  $600,000

 $1,784,250

 $1,226,000 

$32,116,500

113

18

Percentage

86.7%

88.9%

93.2%   

94.3%

93.2%

   

 

 

* 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



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: