Wednesday, July 27, 2011

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

Fairfield County Best Practice Real Estate

Higgins Group

Westport Real Estate is not in a “double dip”

The Median Selling Price is starting to increase again. According to CMLS, prices in Westport increased 13% in 1H 2011 vs. 1H 2010.

Houses are selling. The number of properties sold was up 17% 1H 2011 vs.2010.

There are 388 properties on the market in Westport ranging in price from $227,000 to $25 million or something for everyone

Interest rates are still low.

Please call to hear how we would Market your property or find you a house.

Regards, Steve

Stephen W. Reilly

The Higgins Group,

278 Post Road East

Westport, CT 06880

swreilly@swreilly.com

Phone: 203-246-7372

Tuesday, July 19, 2011

Westport and surrounding towns real estate market performance through June, 2011 from Steve Reillys

Summary Real Estate Market Performance

Through June, 2011 vs. 2010

 

For Westport, the median selling price was up,

sales in units was up, average days on marker

was down and inventory was down. All good news.

For surrounding towns, the median selling price

was up, the number of units sold was down, average

days on marker was up and inventory was down.  

 

Summary Westport Real Estate Market Performance

through June, 2011

 

Median selling price was up 13% in 2011 vs. 2010 and down

13% since peak in 2008.

Image001

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Westport Properties sold through June, 2011

Properties sold through June 2011 was up 17% since

same period 2010 and down 18% since peak in 2007.

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Westport Average days on market through June, 2011

The average days on market was down 1% in 2011 vs.

2010

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Summary Surrounding Towns (Norwalk, Wilton, Weston,

Fairfiled, Easton, Ridgefield aand Redding) Real Estate

Market Performance through June, 2011

Median selling Price through June, 2011

Median selling price was up 4% in 2011 vs. 2010 and down

9% since peak in 2007

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Properties sold through June, 2011

Properties sold through June, 2011 was down 9%

since 2010 and down 37% since peak in 2007.

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Average days on market through June, 2011

The average days on market was up 11% in 2011 vs.

2010 and up 27% since 2007.

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Inventory of Properties for Sale in Westport

The number of houses and condos for sale as of

June 20, 2011 was down 5% vs. last month and

up 8% since last year.

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Inventory of Properties for Sale in Westport

and surrounding towns

 

The number of houses and condos for sale as of

July 15, 2011 was down 2% vs. last month and up

15% since last year.

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See the following sites for real estate information

or call any time.

www.swreilly.com

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Regards,

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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

Wednesday, July 6, 2011

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

If you are confused about what’s going on in the Real Estate Market from reading the national news, read the Steve Reilly Best Practice Real Estate Higgins Group BLOG.

The reports in the national news are misleading for three reasons:

1.      The used different information sources

2.      They are reading National and regional markets not town specific.

3.      They report on monthly stub periods that are influenced by many things that happen in a month that blur the trend.

So, if you want to know what’s going on in Westport and surrounding towns I encourage you to read The Steve Reilly Best Practice Real Estate Blog at swreilly.com which:

1.      Uses CMLS as the source.

2.      Reports performance in Westport and surrounding towns only.

3.      Reports performance over time to show trend.

To see how you can become confused by following the information published in the newspaper consider that within 7 days in late June the national media reported a combination of good and bad news. On June 22 it was reported that “home sales slide 3.8%” and prices were down 3.8% BAD NEWS, on June 29 it was reported that pending sales were up in May GOOD NEWS and on June 28 it was reported that April saw a boost in home prices GOOD NEWS.

June 22 Home Re sales Slide 3.8%

National Association of Realtors reported that sales were down 3.8% and prices were down 4.8%.

WSJ http://online.wsj.com/article/SB10001424052702304070104576399481575600692.html?mod=WSJ_RealEstate_LeftTopNews

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

June 29 Pending Home Sales Up 8.2% in May

The National Association of Realtors reported that pending home sales were up in May.

http://online.wsj.com/article/SB10001424052702304450604576415671858911258.html?mod=WSJ_RealEstate_LeftTopNews

June 28 April seasonal boost in home prices

Case Shiller reported that prices in top 10 and top 20 markets was up in April for first time in 8 months.

The Steve Reilly Best Practice Real Estate Blog shows Westport and surrounding towns:

 

 

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

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Westport Properties sold through May, 2011

Properties sold through May 2011 was up 23% since

same period 2010

Image004

Westport Average days on market through May, 2011

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

same period 2010

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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

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Properties sold through May, 2011

Properties sold for 6 months through February 2011

was down 8% since same period 2010

Image008

Average days on market through May, 2011

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

same period 2010

Image009

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.

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

www.swreilly.com

Regards,

Image012

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