Westport Connecticut and, surrounding towns real estate market is performing better than National and Northeast Averages

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