Rates Rise After Fed Meeting
Mortgage rates held steady during the first half of the week, until Wednesday’s Fed meeting. As expected, the target for the Fed Funds rate remained unchanged, close to a level of zero. Heading into the announcement, the biggest question for investors was whether the Fed would begin to purchase Treasury securities in addition to mortgage-backed securities (MBS) to help support the financial system. Continue Reading…
Westport Sales – January 2009
Westport – Sales in January were 5, down 72.2% from 18 in January 2008.
The Median price in January was $560,000, down 54.3% from $1,226,000 in January of 2008. Most recent 3 months average sale price is $1,633,516, down moderately from $1,876,564 in 2008.
Inventory is 315, up from 288 in 2008 and Market Time (days on the market) was 121, down from 141 in December but up modestly from 114 in January of 2008.
Months of supply in January moved up to 14.7 from 12.9 in December.
Please feel free to contact me if we can be of any assistance.
There are Buyers Out There
Since mid December, buyers have been out looking at homes with much seriousness. . Though they are waiting for the economic signs that the housing market has bottomed, they want to be ready to act on the home of their choice. The greatest activity has been at newer and “turn key” homes Continue Reading…
Real Facts: Westport CT Real Estate Market 2008
2008 was a real challenge for Westport real estate and the general feeling is that it will take some time to recover. Continue Reading…
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