Case Shiller reported on 3/27/201 that prices of previously owned homes 1) dropped in January, 2012 in top 10 and top 20 markets 2) prices were at lowest level since late 2002 3) in January the rate of reduction was less than in December and, 3) prices in the Boston and New York market dropped as they did in the national markets. I watch the Boston and New York markets since they normally represent how the Fairfield County Market is performing.
The Westport and surrounding towns performance is more erratic when comparing month to month performance. I don’t pay much attention to month to mothe numbers because there are so many things that can effect a month but prefer to look at trends. The long term trend for selling prices in Westport is up and the long term trend in surrounding towns is down as shown below.
You can see the detail for Case Shiller below:
| Case Shiller |
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| Market |
| Jan/Dec | Dec/Nov | 1 year | lowest level |
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| % | % | % |
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| Top 10 |
| -0.8 | -1.2 | -3.9 | late 2003 |
| Top 20 |
| -0.8 | -1.1 | -3.8 | late 2003 |
| Boston |
| -0.4 | -1.2 | -2.8 | Oct-02 |
| New York |
| -0.8 | -1.4 | -2.9 | Nov-03 |
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| Steve Reilly Analysis |
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| Westport |
| 40.5 | -28.2 | 1.0 | 2003 |
| surrounding towns | 3.1 | 5.0 | -8.5 | 2002 | |
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The Case Shiller details are at the following link.
Regards,
Steve Reilly, Realtor
Higgins Group
Best Practice Real Estate
203-246-7372 phone
swreilly.com
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