Westport Area Real Estate Market performance - sales up, median selling price mixed and average days on market mixed

Local Real Estate Market Information©

(Through April, 2010 as of May 21, 2010)

National Consumer confidence as reported by The Conference Board increased in May to 63.3 from 57,7 in Aril, 2010. 1985 = 100. This was the third monthly gain.

Case Shiller reporting of selling price of pre owned homes was down 3.2% for top 20 markets 1Q 2010. However, in the the Boston Market prices were up 1.8% from 2009 (better than national markets) and NY Market was down 4.1% (worse than national markets).

TRENDS OF UNITS SOLD, MEDIAN SELLING PRICE AND AVERAGE DAYS ON MARKET

For Local Market including Westport, Wilton, Weston, Norwalk, Fairfield, Easton, Ridgefield and Redding the market is performing better than what Case Shiller reposts.

The number of properties sales peaked in 2005, hit bottom in 2009 and has started to improve in 2010. Sales in units were up 25% 1Q 2010 vs 1Q 2009.

The median selling price of properties sold peaked in 2006, hit bottom in 2009 and is improving in 2010. The median price of properties sold was up 5%.

The average days on market was best in 2005, worst in 2009 and is improving in 2010.

http://www.swreilly.com/marketinformation/selected_towns_sales_trend_through_april_2010.htm

Units sold and Median price increase by town from 1999 through January, 2010 (as of February 12, 2010) are at the following link.

http://www.swreilly.com/marketinformation/SF_and_CN_by_town_through_april_2010.htm

ForWestport, sales in units were up 18.6% from 2009, median selling price was down 10% and average days on market was down slightly.


MONTHS OF INVENTORY FOR SALE BY TOWN IN FAIRFIELD COUNTY

Inventory is increasing in most towns. Probaly due to the pent up supply of homes waiting to be sold. See in the following charts.

http://www.swreilly.com/marketinformation/inventory_trend_may21_2009.htm

The chart at the following link shows inventory by town and by month back to 2005.

http://www.swreilly.com/marketinformation/inventory_SF_and_CN_by_town_through_may21_2010.htm

Disclaimer: This information should be accurate but is not guaranteed since it relies on the source.