Westport Real Estate Market performance vs Case Shiller, July 2010

Real Estate Market Performance July, 2010

On September 28, 2010 Case Shiller reported that in July, 2010 home prices increased .6% from last month in top 20 markets and increased 3.2% since last year. For the NY market, which most closely represents the Fairfield County Market, prices increased 1.3% since last month and .6% since last year.

For Westport prices increased 15% since last month and decreased 2% since last year, For Westport and surrounding towns, prices decrease 5% since last month and increased 4% since last year.

July 2010 Market Performance
	Vs last month	Vs last year
Case Shiller NY Market	+1.3%	+.6%
Westport	+15%	-2%
Westport and surrounding towns	-5%	+4%

This proves once again that real estate is a local matter so ask your trusted Realtor what’s going on your neighborhood.

The S&P/Case-Shiller Home Price Indices are the leading measures for the US residential housing market, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions. The indices are calculated monthly and published with a two month lag. New index levels are released at 9am Eastern Standard Time on the last Tuesday of every month.

Westport Connecticut and surrounding towns Real Estate Market performance Through August, 2010

Westport

Median Selling Price: The median selling price for 2010 YTD thorough August was -23% of same period 2009 ($849,000 vs. $1,105,000)

Properties sold: The number of properties sold for 2010 YTD thorough August was +60% from same period in 2009 (267 vs. 166).

Average days on Market: The average days on market were -18% in 2010 through August YTD (98 vs. 115).

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 August was up 12% from the same as same period in 2009 ($420,000 vs. $375,000)

Properties sold: The number of properties sold for 2010 YTD thorough August was up 30% from same period in 2009 (2561 vs. 1972).

Average days on Market: The average days on market was down 3% in 2010 YTD through August from same period in 2009 (103 vs. 106).

Inventory of Properties for Sale in Westport and surrounding towns

On Thursday September 23, 2010 The Wall Street Journal reported that total housing inventory at the end of August was -.6% with 11.6 months of inventory available for sale down from 12.5 months.

Inventory in Westport and surrounding towns was similar.

In Westport, the number of houses and condos for sale in August was 385 or -3% vs. last month and -6% since last year. There are 13 months on inventory on the market vs. 13 months of inventory for same period last year.

For Westport and surrounding towns, the number of house and condos for sale in August was 3735 or -1% since last month and -1,5% since same month last year. There are 12 months on inventory on the market vs. 12 months of inventory for same period last year.


Regards,

Stephen Reilly
Higgins Group
Best Practice Real Estate
203-246-7372
swreilly@swreilly.com