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Westport Real Estate Market Statistics - 2011

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The following tables represent monthly sales of single family homes 

December brought to a close a very disappointing 4th quarter, for 2011.  For the fourth straight month, unit sales fell behind the corresponding month, a year ago.  Total dollar volume dropped below $20,000,000 for the first time, this year and was less than half that posted in December 2010. The median sold price fell to $750,000, a 38% drop from last year and the lowest it's been since January 2011.

December 2011

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*
 
$2,399,000

 $329,900

 $1,065,584

 $799,900

 $20,246,100

 

 

Sold Price

$2,175,000

  $265 ,000

 $976,607

  $750,000

 $18,555,538

124

19

Percentage

90.7%

80.3%

91.6%

93.8%

91.6%

 December 2010

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*
 $4,695,000

  $458,000 

 $1,632,511

 $1,324,250

 $42,445,299

 

 

Sold Price

 $4,274,500

  $430,000

 $1,523,003

  $1,216,050

 $39,598,100

107

26

Percentage

91.0%

93.9%

93.3%

91.8%

93.3%

 

The downward trend in single family home sales accelerated in November.  Unit sales were down 26% compared with November 2010 and off 19% versus the previous month..  Prices, however, continued to show some improvement. Median sales price was $1,200,000, slightly ahead of October and significantly up from the November 2010 median price of $875,000.

November 2011

 

High  

Low

Average 

Median

Total 

Avg MT 

# Sold

List Price* 

$3,999,900 

$310,500 

$1,599,958

$1,299,000 

$27,199,295 

 

Sold Price

$3,800,000 

$305,000 

$1,506,029 

$1,200,000 

$25,602,500

98

17
Percentage 

95.0%

98.2%

94.1%

92.4% 

94.1% 

 November 2010

 

High 

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$4,225,000

  $425,000

 $1,339,213

 $899,000

 $30,801,899

 

 

Sold Price

 $3,800,000

  $385,000

 $1,242,717

  $875,000

 $28,582,500

111

23

Percentage

89.9%

90.6%

92.8%

97.3%

92.8%

 

Sales of single family home sales continued to trend down, in October.  Unit sales fell 19% vs the previous month and 16% vs October 2010.  At the same time, prices bumped up a bit, compared with September. Median sales price was $1,160,000 vs $907,500, last month.  Average sales price was $1,369,523 vs $1,227,923.  Average sales price, in October 2010, was skewed by the $20 million sale.  Without including that sale, October 2010 average sales price was $1,519,103 and median sales price was $1,294,000.

October 2011

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*
$5,800,000

$299,999

 $1,506,947

$1,295,000

$31,645,898

131

21

Sold Price

$4,800,000

$285,000

 $1,369,523

$1,160,000

$28,760,000

   
Percentage

82.8%

95.0%

90.9%

89.6%

90.9% 

October 2010

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$24,900,000

  $388,000 

 $2,540,740

 $1,475,000

 $63,518,500

 

 

Sold Price

 $20,000,000

  $380,000

 $2,258.338

  $1,413,000

 $56,458,467

122

25 

Percentage

80.3%

97.9%

88.9%

95.8%

88.9% 

 

September sales data pointed to a weak summer real estate market, in Westport.  Sales are a lagging indicator, since it typically takes 60 or more days from contract to transaction closing.  September single family home sales fell 19%, compared with September 2010.  Sales were down 17%, for the third quarter.  September median sales price dropped 28%, to $907,000, the first time since March 2011 that half the homes sold for under a million dollars.  

September 2011

 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$5,875,000

  $409,000 

 $1,255,457

 $937,000 

 $32,641,900

   
Sold Price

 $5,875,000 

  $358,000

 $1,227,923

 $907,500 

 $31,925,999

89

26

Percentage

100.0%

87.5%

97.8%

96.9%

97.8%

 
September 2010
 

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$5,200,000

  $489,000 

 $1,602,665

 $1,295,000 

 $51,285,300

   
Sold Price

 $5,000,000 

  $460,000

 $1,525,950

 $1,225,000 

 $48,830,400

117

32

Percentage

96.2%

94.1%

95.2%

94.6%

95.2%

 

Unit sales took a bump up in August, while average days on market dropped to 79 days, the shortest market time posted this year.  Stats, across the board, were mostly flat, compared with a year ago.  Forty-three (43) single family homes sold in August of both years.  Median price of $1,140,000 was essentially unchanged, up less than a half percent from August 2010.

August 2011

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$4,295,000

  $399,000 

 $1,392,160

 $1,195,000 

 $59,862,900

   
Sold Price

 $4,200,000 

  $360,000

 $1,329,432

 $1,140,000 

 $57,165,600

79

43

Percentage

97.8%

90.2%

95.5%

95.40%

95.5%

August 2010

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$3,200,000

  $349,900 

 $1,340,662

 $1,195,000 

 $57,648,500

   
Sold Price

 $3,200,000 

  $365,000

 $1,260,532

 $1,135,000 

 $54,202,900

84

43

Percentage

100.0%

104.3%

94.0%

95.0%

94.0%

 

The market produced disappointing results, in July.  Listings remained on the market longer and produced fewer sales.  Unit sales of single family homes was down 29% compared with July 2010.  Average days on market was up 33%.  Median sold price fell 9%, to $1,179,950.  Except for a small dip, in June, median price  has held steady, between $1,180,000 and $1,190,000 since April.

July 2011

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*
$8,250,000

 $239,900 

 $1,520,449

$1,243,950

$54,736,199

112

36 

Sold Price

$6,300,000

$215,000

 $1,365,416

$1,179,950

$49,155,000

   
Percentage

76.4%

89.6%

89.8%

94.9%

89.8%

July 2010

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$5,400,000

  $427,500 

 $1,591,507

 $1,369,000 

 $81,166,900

   
Sold Price

 $4,750,000 

  $440,000

 $1,504,497

 $1,300,000 

 $76,729,350

84

51

Percentage

90.0%

102.9%

94.5%

95.0%

94.5%

 

June sales continued to outpace the previous year.  Unit sales were up 10% over a year ago and 20% over the previous month.  Median sales price dipped a bit vs both the previous month and June 2010.   Average days on market increased to 95 days compared with the aggressive pace set in May but remained well below the market time seen earlier this year.

June 2011

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*
$3,779,000

 $380,500 

 $1,385,735

$1,187,000

$74,829,700

 

 

Sold Price

$3,000,000

$370,000

 $1,298,328

$1,126,500

$70,109,718

95

54

Percentage

79.4%

97.2%

93.7%

94.9%

93.7%

June 2010

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$4,500,000

  $389,999 

 $1,414,679

 $1,250,000 

 $69,319,298

   
Sold Price

$3,985,700

  $355,000

 $1,341,320

 $1,150,000 

 $65,734,700

91

49

Percentage

88.6%

91.0%

94.8%

92.0%

94.8%

 

Single family homes sales continued a strong pace, in May.  Unit sales posted a 43% gain compared with a year ago.  Days on market was significantly shorter, dropping to an average market time of 80 days.  Prices remained flat, slightly lower than the previous month and corresponding month, in 2010.

May 2011

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*
 $4,449,900

  $475,000 

 $1,419,469

 $1,274,500

$59,617,698

   

Sold Price

$4,782,500

$400,000

 $1,379,511

$1,187,500

$57,939,491 

80 

42

Percentage

107.5%

84.2%

97.2%

93.2%

97.2%

May 2010

  

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$5,699,900

  $499,000 

 $1,735,920

 $1,287,000

 $41,662,100

   
Sold Price

 $5,421,000

  $482,000

 $1,608,770

 $1,205,000

 $38,610,500

133

24

Percentage

95.1%

96.6%

92.7%

93.6%

92.7%

 

With the harsh winter weather out of the way, pent up buyer demand appears to have taken hold.  April unit sales surged 60% compared with Mar and were a solid 33% ahead of April, 2010.  Market time was high, at 138 days, which was most likely a result of the snowy winter months.

April 2011

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*
 $3,789,000

  $270,000 

 $1,486,809

 $1,250,000

 $47,577,900

 

 

Sold Price

$3,400,000

$265,000

 $1,396,737

$1,245,500

$44,695,600 

138 

32 

Percentage

89.7%

98.1%

93.9%

99.6%

93.9%

April 2010

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*
$5,550,000

 $525,000

$1,230,704

$782,000
$29,536,900

 

Sold Price
$4,900,000

 $512,000

$1,123,750

 $723,750

$26,970,000

107

24

Percentage

88.3%

97.5%

91.3%   

92.6%

91.3%

 

Single family home sales resumed a more normal pace, in March.  Sales were up 33%, over the previous month and even with last year.  Median sale price, at $955,500, ticked just ahead of March 2010.  There were no new construction homes sales, compared with four in Febrauary.

March 2011

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*
$4,350,000

 $389,900 

 $1,257,939

 $986,950

$25,158,798

 

 

Sold Price

$3,950,000

$315,000

$1,179,032

$955,500

$23,580,650

109 20
Percentage

90.8%

80.8%

93.7%

96.8%

93.7%

March 2010

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$2,500,000

  $358,500

 $1,057,207

$924,900

$21,144,149

 

Sold Price
$2,350,000

  $358,500

 $1,009,010

 $901,400 

$20,180,200

79

20

Percentage

94.0%

100.0%

95.4%   

97.4%

95.4%

 

Multiple storms, resulting in record January snowfalls, pushed February unit sales to a thirteen month low.  At the same time, dollar volume jumped 20% compared with February 2010 totals.  Median sold price rose to $1,730,000, with 80% of the homes selling for $1,200,000 or more.

February 2011

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*
$7,800,000

  $465,000 

$2,297,633

$1,795,000

$34,464,500

 

 

Sold Price

$6,000,000

   $422,000  

 $2,061,466 

 $1,730,000 

$30,922,000

124 

15 

Percentage

76.9%

90.8%

89.7%

96.4%

89%7

February 2010

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*

$5,750,000

  $439,000

 $1,369,319

$874,500

$27,386,399

 

Sold Price
$5,400,000

  $405,000

 $1,289,150

 $857,500

$25,783,000

99

20

Percentage

93.9%

92.3%

94.1%   

98.1%

94.1%

 

The year started on a mixed note.  January posted 18 single family home sales, a 29% gain over a year ago.  Median sold price, however, plummeted to $715,000, the lowest price since January 2009.  Average days on market was 139 days, matching market time in January 2010.

January 2011

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*
$4,595,000

 $450,000 

 $1,237,483

 $774,000

$22,272,700

 

 

Sold Price

$4,200,000

$455,000

$1,177,861

$715,000

$21,201,500

139

 18

Percentage

91.4%

101.0%

95.2%

92.4%

95.2%

January 2010

 

High

Low

Average

Median

Total

Avg MT

# Sold

List Price*
$9,950,000

$499,900 

$2,020,492 $1,299,500

$28,286,900

 

Sold Price

$8,187,500

$435,000 

$1,826,250 $1,280,000

$25,567,500

 139

14
Percentage

82.3%

87.0%

90.4%   

98.5%

90.4%

 

 * 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


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