The Wall Street Journal reported on Wed April 29, 2011 that
“home prices are near recession lows”. According to the The
Case Siller index of properties sold prices is the top 10 and top
20 markets fell for the 8th month in a row.
Both the 10 and 20 top markets were down 1.1% in February,
compared to January. In the detail the NY market which track
closest to southern Fairfield County was down .5% and the
Boston Market which tracks closest to northern Fairfield County
was down 1.5%.
However, the in Westport the median selling price of properties
sold in February, 2011 was up significantly since last month and
since last year. Let’s hope the trend continues.
When you compare current prices compared to the peak July, 2006
and the low April, 2009
Vs peak 7/2006 vs low 4/2009
NY -21.1% -3.2%
Boston -12.8% +2.3%
Top 10 -3.0% +1.5%
Top 20 -3.0% +1.0
Westport ++29.0 ++73.0
The most to gain from this analysis is the month to month comparisons
are NOT meaningful, only the trends are important. In Westport,
the trend of selling prices is up in 2011.
And, the trend of median selling prices in surrounding towns is up.
Stephen Reilly
Higgins Group
Best Practice Real Estate
278 Post Road East
Westport, CT 06880
203-246-7372
Licensed in Connecticut
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