Westport Connecticut and, surrounding towns real estate market is performing much better than National and Northeast Averages as reported by the national Association of Realtors
The Wall Street Journal Heading July 23, 2010 was “Home Sales dip as Unsold Inventory Persists”. National Association of Realtors reported last week that sales of existing homes in June declined 5.1% in June from May nationally, up 7.9% in northeast but up 9.8% since last year. And, the inventory of unsold homes rose 2.5% in June which is not good indicator for the future price of homes. Generally when there is more inventory prices decline.
This market performance is not true in Westport nd surrounding towns. Nationally sales declined and for both Westport and surrounding towns sales increased.
And, nationally inventory of properties for sale increased nationally and decreased in both Westport and surrounding times.
Regarding sales, for Westport, sale of existing homes increased 80% in June from May and 72% since last year. For Westport and surrounding towns, the sale of existing homes increased 72% since May and 47% since last year.
Regarding inventory, for Westport the number of properties for sale in June decreased 5% since May. And for surrounding towns properties for sale decreased 13%
Stephen Reilly
Higgins Group
Best Practice Real Estate
203-246-7372
Swreilly@swreilly.com
Sunday, July 25, 2010
Tuesday, July 13, 2010
Real Estate Market Information© for Westport and surrounding towns (Through June, 2010 as of July 12, 2010)
Westport
Median Selling Price: The median selling price for 2010 YTD thorough June was the same as same period in 2009 ($940,000)
Properties sold: The number of properties sold for 2010 YTD thorough June was up significantly from same period in 2009 (115 vs 65 for 75% increase).
Average days on Market: The average days on market was down slightly in 2010 YTD (110 vs 126).
Westport and surrounding towns ( Westport , Wilton , Weston, Norwalk , Fairfield , Easton , Ridgefield , Redding and Bridgeport )
Median Selling Price: The median selling price for 2010 YTD thorough June was up 5% from the same as same period in 2009 ($395,000 vs. $347,000)
Properties sold: The number of properties sold for 2010 YTD thorough June was up significantly from same period in 2009 (1826 vs 1244 for 54% increase).
Average days on Market: The average days on market was same in 2010 YTD (106 vs 106).
You can see trends at this link http://www.swreilly.com/marketinformation/selected_towns_sales_trend_through_june_2010.htm
And, detail by town at this link: http://www.swreilly.com/marketinformation/SF_and_CN_by_town_through_june_2010.htm
Inventory of Properties for Sale in Westport and surrounding towns
The number of properites for sale sale had been increasing since November, 2009 but it took a sharp reduction in 2010.
You can see detail by town and tredn at the following linls:
Inventory of properties for sale http://www.swreilly.com/marketinformation/inventory_SF_and_CN_by_town_through_july12_2010.htm
Trend http://www.swreilly.com/marketinformation/inventory_trend_july12_2009.htm
The accuracy of this information relies on the source which is CMLS.
Stephen Reilly
Higgins Group
Best practice Real Estate
203-246-7372
swreilly@swreilly.com
Median Selling Price: The median selling price for 2010 YTD thorough June was the same as same period in 2009 ($940,000)
Properties sold: The number of properties sold for 2010 YTD thorough June was up significantly from same period in 2009 (115 vs 65 for 75% increase).
Average days on Market: The average days on market was down slightly in 2010 YTD (110 vs 126).
Westport and surrounding towns ( Westport , Wilton , Weston, Norwalk , Fairfield , Easton , Ridgefield , Redding and Bridgeport )
Median Selling Price: The median selling price for 2010 YTD thorough June was up 5% from the same as same period in 2009 ($395,000 vs. $347,000)
Properties sold: The number of properties sold for 2010 YTD thorough June was up significantly from same period in 2009 (1826 vs 1244 for 54% increase).
Average days on Market: The average days on market was same in 2010 YTD (106 vs 106).
You can see trends at this link http://www.swreilly.com/marketinformation/selected_towns_sales_trend_through_june_2010.htm
And, detail by town at this link: http://www.swreilly.com/marketinformation/SF_and_CN_by_town_through_june_2010.htm
Inventory of Properties for Sale in Westport and surrounding towns
The number of properites for sale sale had been increasing since November, 2009 but it took a sharp reduction in 2010.
You can see detail by town and tredn at the following linls:
Inventory of properties for sale http://www.swreilly.com/marketinformation/inventory_SF_and_CN_by_town_through_july12_2010.htm
Trend http://www.swreilly.com/marketinformation/inventory_trend_july12_2009.htm
The accuracy of this information relies on the source which is CMLS.
Stephen Reilly
Higgins Group
Best practice Real Estate
203-246-7372
swreilly@swreilly.com
Friday, July 9, 2010
NY Times article "Biggest defaulters on Mortgages are the Rich" - What's up in Westport, Connecticut
The NY Times Article Premise on Friday July 9th is that the rich are more likely to default than people with less lavish homes. This prompted me to look at what's up in Westport, Connecticut.
Realty Trac which follows properties in defaut through foreclosure reported that in Westport, 25 houses are in default, 2 are going to auction and 17 are bank owned. This is less than 10% of the 569 houses active for sale in Westport but a factor in the market.
Call or email if you would like to know more.
Stephen Reilly
Best Practice Real Estate
Higgins Group
203-246-7372
swreilly@swreilly.com
Realty Trac which follows properties in defaut through foreclosure reported that in Westport, 25 houses are in default, 2 are going to auction and 17 are bank owned. This is less than 10% of the 569 houses active for sale in Westport but a factor in the market.
Call or email if you would like to know more.
Stephen Reilly
Best Practice Real Estate
Higgins Group
203-246-7372
swreilly@swreilly.com
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