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

Summary Real Estate Market Performance

Through December, 2011 vs. 2010

 

Prices in the Westport market have stabilized so

my advise to buyers and sellers is to take advantage

of the low interest rates and make your move.

For Westport, sales were 379, the same as last year

and the median selling price was $1,010,000, about

the same as last year..

For surrounding towns, sales were 2011 down

12% and the median selling price was $508,000,

the same as last year.

For Westport, inventory of properties for sale

was 273 or 9 months of inventory down from last

month and up since last year.

For surrounding towns, inventory of properties

for sale was 2044 down from last month and

up since last year.

See the following charts for details.

Summary Westport Real Estate Market Performance

through December, 2011

 

Median Selling price 2011 YTD was $1,010,000, about

the same as last year and down 20% since the peak in 2007.

Properties sold through December 2011 YTD 379 was the same

as last year and down 33% since peak in 2004.

Average Days on Market 2011 YTD was 107, the

same as last year.

Summary Surrounding Towns (Norwalk, Wilton, Weston,

Fairfiled, Easton, Ridgefield aand Redding) Real Estate

Market Performance through December, 2011

Median selling price was $508,000 YTD in 2011 same as

last year and down 13% since peak in 2007.

Properties sold through December 2011 was 2011

down 12% since 2010 and down 51% since peak

in 2004.

The Average Days on Market was 120 YTD through

December Up 9% since last year

Inventory of Properties for Sale in Westport

The number of properties as of January 24,

2012 was 273 which is 9 months of inventory.

Since June, 2011 the trend is less houses
available for sale.

Inventory of Properties for Sale in

surrounding towns

 

The number of houses and condos for sale as of

January 24, 2012 was 2044 which represents

10 months of inventory. Since June, 2011 the

trend is less houses available for sale.

See the following site for real estate information

or call any time.

www.swreilly.com

See the following link for more sales information including specific

sales by town.

http://www.higginsgroup.com/market-news/

Regards,

Stephen Reilly

Higgins Group

Best Practice Real Estate

278 Post Road East

Westport, CT 06880

203-246-7372

swreilly@swreilly.com

www.swreilly.com

licensed in Connecticut

Westport real estate market performance vs Case Shiller from Steve Reilly

Westport and surrounding towns real estate market continues to out perform what is reported in the press.

As of close of November, 2011 business:  

For Westport, Case Shiller reported that the median selling price peaked in 2006 when in fact the Westport market peaked in 2008. And, Case Shiller reported that current prices were down 22% from the peak when in fact prices were down 16%.

For Westport surrounding towns, Case Shiller reported that the median selling price peaked in 2005 when in fact the market peaked in 2007. And, Case Shiller reported that current prices were down 16% from the peak when in fact prices were down 13%.

The important thing to remember is, if you want to know how the real estate market is performing call me. Don’t rely on what you read in the news.

Regards,

Stephen Reilly

Higgins Group

Best Practice Real Estate

278 Post Road East

Westport, CT 06880

203-246-7372

swreilly@swreilly.com

www.swreilly.blogspot.com

Licensed in Connecticut