Wednesday, December 21, 2011

Westport Connecticut Real Estate Update*

January through November 2011, 324 single family homes sold in Westport Connecticut versus 325 units sold during the same time in 2010. More proof that the real estate market in Westport is stabilizing! Consumer confidence is up, interest rates are down, and homes are being priced right; all factors contributing to market stabilization. Unit sales year-to-date are up by 41% over 2009 and down by 15% from 2007.

The median sales price continues to lag slightly behind last year. From January to November 2011 the median sales price of single family homes in Westport was $1,101,500 versus a median sales price of $1,125,000 during this same time frame in 2010. Although the median sales price in Westport has been falling since 2008, the rate of decrease has slowed down dramatically year over year. Homes sold between January and November of 2009 had a median sales price 12.8% lower than homes sold in the same time frame in 2008. From 2009 to 2010 they were down only 4.5% and so far this year, prices are down only 2% from the same time frame last year.

We will continue to keep a close eye on the real estate market in all of Fairfield County and report select town statistics each month in our monthly newsletter. Visit to sign up to receive these stats via email. If you have an interest in a specific town or neighborhood, contact us for details that meet your needs.

*Source: Greater Fairfield County Consolidated Multiple Listing Service