Steve's Real Estate Blog: Westport Connecticut and surrounding towns Real Estate Market performance Through September, 2010: from Steve Reilly

Westport Connecticut and surrounding towns Real Estate Market performance September, 2010:

Westport

Summary: median selling price is down 21% since peak in 2007 and tend has been flat for last few months, sales in units is improving and inventory of properties for sale has been flat for last few months.

Median Selling Price: The median selling price for 2010 YTD thorough September was down 3% 2010 vs. 2009, a big improvement in September. ($1,014,000 vs. $1,050,000)

Properties sold: The number of properties sold for 2010 YTD thorough September was +60% from same period in 2009 (300 vs. 188).

Average days on Market: The average days on market were -13% in 2010 through September YTD (104 vs. 120).

Westport and surrounding towns (Westport, Wilton, Weston, Norwalk, Fairfield, Easton, Ridgefield, Redding and Bridgeport)

Summary: median selling price is down 13% from 2007 peak and has been improving in 2010, sales in units is improving in 2010 and inventory of properties for sale is high by historical standards and has been flat for last few months,

Median Selling Price: The median selling price for 2010 YTD thorough August was up 12% from the same as same period in 2009 ($417,000 vs. $373,000)

Properties sold: The number of properties sold for 2010 YTD thorough August was up 27% from same period in 2009 (2840 vs. 2244).

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

Inventory of Properties for Sale in Westport and surrounding towns

In Westport, the number of houses and condos for sale in September was 394 or +2% vs. last month and

+13% since last year. There are 12 months on inventory on the market vs. 12 months of inventory for same period last year.

For Westport and surrounding towns, the number of house and condos for sale in September was 3719 or -.96% since last month and +7.7% since same month last year. There are 12 months on inventory on the market vs. 12 months of inventory for same period last year.