Westport and Fairfield Real Estate Markets 3Q 2011

Home Prices Keep Dropping

This was the headline in a Wall Street Journal Article on Thursday November 10, 2011 by Alan Ziebel. The article reported that according to the National Association of Realtors that for the quarter July – September, 2011, median selling price declined in 111 of the 150 markets tracked by National Association of Realtors and increased in the other 39 markets.

The market closest to Westport and Fairfield that is tracked by NAR is Bridgeport-Stamford-Norwalk. In this market median selling price declined by 6.5%.

My interest is how the Fairfield and Westport compared.   

Median selling price: Westport declined by 18% and Fairfield increased by 2.8%.

Sales: Westport declined by 16% and Fairfield declined by 7.1%

However, It is more important to look at the trend.

For Fairfield the trend of median selling price of properties sold is down and the trend of properties sold is down.

For Westport, the trend of median selling price of properties sold is down and the trend of properties sold is down.

Regards,

Stephen Reilly

Higgins Group

Best Practice Real Estate

278 Post Road East

Westport, CT 06880

203-246-7372

swreilly@swreilly.com

licensed in Connecticut

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Home Prices Keep Dropping

Home Prices Keep Dropping

This was the headline in a Wall Street Journal Article on Thursday November 10, 2011 by Alan Ziebel. The article reported that according to the National Association of Realtors that for the quarter July – September, 2011, median selling price declined in 111 of the 150 markets tracked by National Association of Realtors and increased in the other 39 markets.

The market closest to Westport and Fairfield that is tracked by NAR is Bridgeport-Stamford-Norwalk. In this market median selling price declined by 6.5%.

My interest is how the Fairfield and Westport compared.   

Median selling price: Westport declined by 18% and Fairfield increased by 2.8%.

Sales Westport declined by 16% and Fairfield declined by 7.1%

However, It is more important to look at the trend.

For Fairfield the trend of median selling price of properties sold is down and the trend of properties sold is down.

For Westport, the trend of median selling price of properties sold is down and the trend of properties sold is down.

Regards,

Stephen Reilly

Higgins Group

Best Practice Real Estate

278 Post Road East

Westport, CT 06880

203-246-7372

swreilly@swreilly.com

licensed in Connecticut

See the full gallery on Posterous

Fairfield County Best Practice Real Estate

The Higgins Group has developed a High Powered

Program designed to Market Fairfield County Real

Estate at The Highest Level. The Program includes:

• Practices that all Realtors use to market properties
• Enhancements to Real Estate Practices to make them Best Practices
• Combine the home Sellers perspective on the property with our knowledge

            of Fairfield County Real Estate to enhance the value of the property

            and highlight the special features.  

• Market the County, Town and Neighborhood
• Photo Marketing System
• Internet Marketing Strategy
• Target Marketing
• Social Networking
• Cooperative Showing Guide
• Merchandising and Staging System
• Quality Customer Care and Project Management. 
• Continuous improvement

Please call if you would like to hear about our Program.

Regards,

Stephen W. Reilly

The Higgins Group,

278 Post Road East

Westport, CT 06880

swreilly@swreilly.com

Phone: 203-246-7372

Westport Connecticu Real Estate through September, 2011 from Steve Reilly

Westport Real Estate Market is holding up through September, 2011

Properties sold YTD is 309, up 3% since last year

The Median Selling Price was $1,050,000, up 4% since last year

The number of properties for sale was 357 which represents 11 months of inventory.

The performance would have been better except for a sluggish September.

According to CMLS and RealtyTrac, repossession activity is low. There are 3 bank owned properties on the market and 18 pre foreclosure sales in progress.

Please call or email if I can help with real estate buying, selling or investing.

Regards, Steve

Stephen W. Reilly

The Higgins Group,

278 Post Road East

Westport, CT 06880

swreilly@swreilly.com

Phone: 203-246-7372

See the full gallery on Posterous