Westport and surrounding towns are out performing the national and regional real estate markets as reported by the National Association of Realtors.

Westport Connecticut and surrounding towns Real Estate Market performance Through July, 2010: You can see data and trends at the following link;

Westport and surrounding towns are out performing the national and regional real estate markets as reported by the National Association of Realtors.

On Tuesday August 24, 2010 The National Association of Realtors reported that existing-home sales in the Northeast dropped 29.5 percent in July compared to June and dropped 30.3 percent lower than a year ago. The median price in the Northeast was $263,800, up 4.8 percent from July 2009.

However, in Westport, sales increased 66% in July compared to June and increased 53% compared to last year. And, the median selling price of houses sold was flat vs. last year.

Westport

Median Selling Price: The median selling price for 2010 YTD thorough July was the same as same period in 2009 ($989,000 vs. $990,000)

Properties sold: The number of properties sold for 2010 YTD thorough July was up significantly from same period in 2009 (222 vs. 134 for 66% increase).

Average days on Market: The average days on market were down slightly in 2010 YTD (104 vs. 122).

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 July was up 12% from the same as same period in 2009 ($408,000 vs. $365,000)

Properties sold: The number of properties sold for 2010 YTD thorough July was up significantly from same period in 2009 (2245 vs. 1877 for 34% increase).

Average days on Market: The average days on market was down slightly in 2010 YTD (105 vs. 108).

Inventory of Properties for Sale in Westport and surrounding towns

On Tuesday August 24, 2010 The National Association of Realtors reported that total housing inventory at the end of July increased 2.5 percent to 3.98 million existing homes available for sale, which represents a 12.5-month supply at the current sales pace, up from an 8.9-month supply in June. Raw unsold inventory is still 12.9 percent below the record of 4.58 million in July 2008.

However, for Westport, the number of houses and condos for sale in July was 295 an increase of 8% vs. last month and minus 4% since last year. There are 13 months on inventory on the market vs. 19 months of inventory for same period last year.

For Westport and surrounding towns, the number of house and condos for sale in July was 3769 an increase 14% since last month and minus .4% since same month last year. There are 12 months on inventory on the market vs. 16 months of inventory for same period last year.

You can see data and trends at the following links

Www.swreily.com

Stephen Reilly

Higgins Group

Best Practice Real Estate

203-246-7372

swreilly@swreilly.com