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 31st. that reported 1Q 2011 was down 5.1% from 1Q 2010, prices are down 32.7 from 2006 peak and down for 8th 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.
Regards.
Steve Reilly, Realtor
Higgins Group
Best Practice Real Estate
203-246-7372
Swreilly.com
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