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
licensed in Connecticut
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