Westport and surrounding towns real estate market performance through May, 2011 from Steve Reilly

Summary Westport Real Estate Market Performance

Through May, 2011

 

The median selling price was up 18% in 2011, the number

of units sold was up 23% since last year and the average

days on market was up 2%.

The number of houses and condos for sale as of June 20 was

416 or +16% vs. last month and -3% since last year.  

 

Westport Median Selling Price through May, 2011

Median selling price was up 18% in 2011 vs. 2010 and down

13% since peak in 2008

.

Westport Properties sold through May, 2011

Properties sold through May 2011 was up 23% since

same period 2010

Westport Average days on market through May, 2011

The average days on market was up 2% in 2011 vs.

same period 2010

Summary Surrounding Towns (Norwalk, Wilton, Weston,

Fairfiled, Easton, Ridgefield aand Redding) Real Estate

Market Performance through May, 2011

Median selling Price through May, 2011

Median selling price was up 2% in 2011 vs. 2010 and down

12% since peak in 2007

Properties sold through May, 2011

Properties sold for 6 months through February 2011

was down 8% since same period 2010

Average days on market through May, 2011

The average days on market was up 15% in 2011 vs.

same period 2010

Inventory of Properties for Sale in Westport and surrounding towns

The number of houses and condos for sale as of June 20, 2011 was

3824 or +9% vs. last month and -19% since last year.

See the following sites for real estate information or call any time.

www.swreilly.com

Regards,

Stephen Reilly

Higgins Group

Best Practice Real Estate

278 Post Road East

Westport, CT 06880

203-246-7372

swreilly@swreilly.com

www.westport-homestore.com

licensed in Connecticut

Westport Real Estate continues to out perform the national market from Steve Reilly - Higgins Group

Westport Real Estate continues to out perform the national market from Steve Reilly - Higgins Group

Westport Real Estate continues to out perform the national

market from Steve Reilly - Higgins Group

On Tuesday 6/21 NAR reported that nationally sales in

May 2011 were down 3.8% from April 2011 and

down 15.3% since May 2010

For Westport, sales in May 2011 were up 34%

from April 2011 and were up 62% since May, 2010

For surrounding towns, sales in May 2011 were

up 9% since April 2011 and down 11% since May 2010

NAR reported Tuesday 6/21 that nationally the

median selling price of homes was down 4.6% since May 2010

For Westport, median selling price was down 0%

For surrounding towns, the median selling price was

up 6.9%

Regards.

Steve Reilly, Realtor

Higgins Group

Best Practice Real Estate

203-246-7372

Swreilly.com

swreilly@swreilly.com

Westport Housing is not in double dip from Steve Reilly - Higgins Group

Westport Housing is not in double dip from Steve Reilly - Higgins Group

 “Housing in double dip as prices fall again” was headline in Market Watch and reposted on 5/31 by CNN Money, The Wall Street Journal, Fox News and I’m sure others. The basis for these report was the Case Shiller Report for the period ending May 31^st. that reported 1Q 2011 was down 5.1% from 1Q 2010, prices are down 32.7 from 2006 peak and down for 8^th month in a row. This dismal performance was after reporting median price increases for about 12 months. Thus, the double dip.

I am happy to report that:

• Although prices fell 5.1% nationally, prices in Westport increased 8.4% and prices in surrounding towns increased 1.7% for same period.

• Although prices declined 32.7% nationally from the peak in 2006, Westport prices declined 30.5% and prices in surrounding towns declined 18%.

• Median Selling price of homes sold has not declined for 8 months in a row. Prices have gyrated but have been basically flat for past 12 months.

                       

You can see the details of the Case Shiller Report at the following link.

http://www.standardandpoors.com/indices/sp-case-shiller-home-price-indices/en/us/?indexId=spusa-cashpidff--p-us----

Regards.

Steve Reilly, Realtor

Higgins Group

Best Practice Real Estate

203-246-7372

Swreilly.com

swreilly@swreilly.com

Westport Real Estate is not in "double dip" from Steve Reilly

The national media reported on 5/31 that “Housing in double dip as prices fall again”. This was headline in Market Watch and reposted on by CNN Money, The Wall Street Journal, Fox News and I’m sure others. The basis for these report was the Case Shiller Report for the period ending March 31^st. that reported 1Q 2011 was down 5.1% from 1Q 2010, prices are down 32.7 from 2006 peak and down for 8^th month in a row. This dismal performance was after reporting median price increases for about 12 months. Thus, the double dip.

I am happy to report that although prices fell 5.1% nationally, prices in Westport increased 8.4% and prices in surrounding towns increased 1.7% for same period.

And, although prices declined 32.7% nationally from the peak in 2006, Westport prices declined 30.5% and prices in surrounding towns declined 18%.

You can see the details of the Case Shiller Report at the following link.

http://www.standardandpoors.com/indices/sp-case-shiller-home-price-indices/en/us/?indexId=spusa-cashpidff--p-us----

Regards,

Steve Reilly, Realtor

Higgins Group

Best Practice Real Estate

203-246-7372

Swreilly.com

swreilly@swreilly.com