Sales reported for the month of October are 20. This is a 20% decline in homes sales compared homes sold in October 2010. The change favoring today’s sellers, new listings to the market drops 20.4%. The change favoring today’s buyers, average sales price is $1,367,000 compared to $2,258,339 last year, 39.5% decrease.

Westport (Single-family residential)

The new listings on the market this past week was higher than this time last month, however a few were relists.  The new listings split equally in price with 50% under 1 Million and 50% over 1 Million.  Homes reported sold closed at 95% of the list price.  As for reductions, listings reduced by 10%+ to help sellers generate offers before the year closes. 

Click Here for this week’s Activity

There has not been that much activity in the Westport market the last week of October. There have been quite a few price changes which shows that some sellers are becoming more motivated. New listings are continuing to come on to the market. Interesting to note that most of these new listings are in a very high price range . The high price range has not done that well this past year

Click Here for this week’s Activity

There were several price reductions at all price points this past week as well as a good number of accepted offers which is good news for the Westport market.

Sellers who are realistic and motivated to move on are working at adjusting their prices to try and achieve that sweet number when a deal can happen. Once the buyers out there feel that they are getting value for their money they are beginning to perform.

Another factor is that there are fewer properties coming on to the market which is probably indicative of the time of year. It is usually much slower as we approach the Holidays.

Inventory levels are still high however.

Westport Weekly Report for 10/23

This past week new listings continue to be added to the market and the majority all in the higher price ranges over $2M .
This week price reductions surpassed all the other activities in the real estate market.
Most of the accepted offers were under $1M. Good news is that the properties that are selling are getting about 96% of the listed price.

Westport Weekly Report for week ending 10/16

This past week we see a fair amount of properties that have accepted offers and have gone to contract however, more listings are coming on the market daily and the current amount of listings exceeds the inventory during this same time frame of previous years. Please stay informed about Westport’s Real Esate activity through this detailed summary report which will be updated every Monday.

Westport Weekly Report for the week of 10/3