Westport Real Estate Market Statistics - 2008 Please bookmark this page and check back often for the latest market information The following tables represent monthly sales of single family homes December continued to produce gloomy result for the Westport real estate market. Unit sales inched up, by two, compared with November but were off 30% versus December 2007. The bigger story was in the shifting profile of the market. Just under half of the homes, sold for $1 million or less. This helped bring the total dollar volume down a whopping 50%, compared with the corresponding period, last year. December 2008 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $4,800,000 | $699,000 | $1,644,181 | $1,209,500 | $26,306,900 | | | Sold Price | $4,600,000 | $650,000 | $1,521,625 | $1,070,000 | $24,346,000 | 140 | 16 | | Percentage | 95.8% | 93.0% | 92.5% | 88.5% | 2.5% |
December 2007 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $9,000,000 | $469,000 | $2,142,682 | $1,665,000 | $49,281,699 | | | Sold Price | $10,400,000 | $447,500 | $2,126,869 | $1,702,000 | $48,918,000 | 123 | 23 | | Percentage | 115.5% | 95.4% | 99.3% | 102.2% | 99.3% |
The seasonal slowdown, alone, cannot account for the drop in single family home sales during the month of November. Unit sales were off 44%, compared with a year ago and down 39% from the previous month. In 2007, November sales fell 22% vs. October. In contrast to the weak sales number, median price, at $1,500,000 matched September and registered the highest price, since July. November 2008 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $10,950,000 | $749,900 | $2,269,342 | $1,597,450 | $31,770,800 | | | Sold Price | $9,825,000 | $750,000 | $2,099,000 | $1,500,000 | $29,386,000 | 113 | 14 | | Percentage | 89.7% | 100.0% | 92.5% | 93.9% | 92.5% |
November 2007 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $7,995,000 | $394,900 | $1,813,568 | $1,099,000 | $45,339,200 | | | Sold Price | $7,500,000 | $384,000 | $1,712,748 | $1,099,000 | $42,818,700 | 106 | 25 | | Percentage | 93.8% | 97.2% | 94.4% | 100.0% | 94.4% |
The number of single family homes sold in Westport, during October, held steady with the previous month, but fell 28% behind October 2007. Median sold price, however, took a nosedive, falling to $1,110,000, the lowest monthly figure, posted this year. The overall effect, saw monthly, dollar volume drop 47%, compared with the comparable period, a year ago. October 2008 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $3,995,000 | $500,000 | $1,440,483 | $1,169,000 | $33,131,116 | | | Sold Price | $4,000,000 | $470,000 | $1,374,689 | $1,110,000 | $31,617,850 | 114 | 23 | | Percentage | 100.1% | 94.0% | 95.4% | 95.0% | 95.4% |
October 2007 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $5,950,000 | $449,000 | $1,931,309 | $1,384,500 | $61,801,900 | | | Sold Price | $5,600,000 | $440,000 | $1,864,125 | $1,338,750 | $59,652,000 | 122 | 32 | | Percentage | 94.1% | 98.0% | 96.5% | 96.7.3% | 96.5% |
September unit sales held steady with a year ago. Prices appeared to have softened, when compared with last September, but outpaced most months, this year. The median sale price of a single family home was $1,500,000. Market time posted the shortest time frame, this month, at 84 days on market. September 2008 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $3,995,000 | $399,000 | $1,587,256 | $1,595,000 | $36,506,899 | | | Sold Price | $3,995,000 | $385,000 | $1,506,086 | $1,500,000 | $34,640,000 | 84 | 23 | | Percentage | 100.0% | 96.5% | 94.9% | 94.0% | 94.9% |
September 2007 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $3,395,000 | $749,000 | $1,723,688 | $1,637,000 | $44,815,900 | | | Sold Price | $3,200,000 | $700,000 | $1,638,096 | $1,576,250 | $42,590,500 | 105 | 26 | | Percentage | 94.3% | 93.5% | 95.0% | 96.3% | 95.0% |
The positive sales statisitcs of the previous month may have been an anomaly, as number of single family homes sold fell 22%, this August compared with August 2007. Prices also showed some softening. Median sold price was down more than $80,000 compared with the previous month, but edged ahead of the corresponding period, a year ago. August 2008 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $7,779,000 | $515,000 | $1,937,755 | $1,549,000 | $69,759,200 | | | | Sold Price | $7,125,000 | $480,000 | $1,806,083 | $1,455,000 | $65,019,000 | 103 | 36 | | Percentage | 91.6% | 93.2% | 93.2% | 93.9% | 93.2% |
August 2007 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $2,899,000 | $590,000 | $1,572,380 | $1,424,500 | $72,329,525 | | | | Sold Price | $2,775,000 | $591,500 | $1,513,913 | $1,370,000 | $69,640,015 | 105 | 46 | | Percentage | 95.7% | 100.3% | 96.3% | 96.2% | 96.3% |
After a disappointing first half year, single family homes sales, in Westport, posted its best month, of the year. When compared with the corresponding month, in 2007, July sales showed gains in average sale price, median sale price and overall dollar volume. Unit sales were flat, at 38 comapred with 39, a year ago. July 2008 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $5,300,000 | $399,000 | $2,060,202 | $1,724,000 | $78,287,700 | | | | Sold Price | $5,000,000 | $397,500 | $1,933,921 | $1,538,750 | $73,489,000 | 88 | 38 | | Percentage | 94.3% | 99.6% | 93.9% | 89.3% | 93.9% |
July 2007 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $6,500,000 | $599,000 | $1,787,035 | $1,325,000 | $69,694,376 | | | | Sold Price | $5,000,000 | $600,000 | $1,682,885 | $1,350,000 | $65,632,534 | 104 | 39 | | Percentage | 76.9% | 100.2% | 94.2% | 101.9% | 94.2% |
With prices continuing to outpace levels of a year ago, buyers remained on the sidelines. Monthly units sales, for single family homes, posted a 52% drop, over the June 2007.
** The higher sold to list price, in June 2007, reflected additional property, sold on a $4,500,000 listing. June 2008 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $6,250,000 | $529,900 | $1,694,041 | $1,544,000 | $52,515,299 | | | | Sold Price | $6,150,000 | $487,000 | $1,620,629 | $1,470,000 | $50,239,500 | 107 | 31 | | Percentage | 98.4% | 91.9% | 95.7% | 95.2% | 95.7% |
June 2007 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $5,495,000 | $473,000 | $1,663,140 | $1,324,000 | $106,440,975 | | | | Sold Price | $6,700,000 | $445,000 | $1,634,094 | $1,260,250 | $104,582,040 | 90 | 64 | | Percentage | 121.9%** | 94.1% | 98.3% | 95.2% | 98.3% |
Prices rebounded, in May, but number of homes sold, continued to paint a bleak picture, for the spring real estate market. Median sold price was $1,845,000, a 16% increase. over May 2007, while units sold were off by by 57%. May 2008 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $6,250,000 | $659,000 | $1,848,770 | $1,572,500 | $44,370,499 | | | | Sold Price | $5,700,000 | $632,000 | $1,726,000 | $1,540,000 | $41,424,000 | 87 | 24 | | Percentage | 91.2% | 95.9% | 93.3% | 97.9% | 93.4% |
May 2007 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $6,500,000 | $549,000 | $1,956,150 | $1,645,000 | $105,632,075 | | | | Sold Price | $5,900,000 | $520,000 | $1,881,049 | $1,595,000 | $101,576,650 | 105 | 54 | | Percentage | 90.8% | 94.7% | 96.2% | 97.0% | 96.2% |
April sales continued to track well below a year ago. Unit sales, at 19, were off by 44% and median sold price dropped by more than half a miilion dollars, to $1,160,050, the lowest level, year to date. April 2008 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $6,000,000 | $483,900 | $1,742,363 | $1,249,000 | $33,104,900 | | | | Sold Price | $5,800,000 | $430,000 | $1,618,289 | $1,160,050 | $30,747,500 | 117 | 19 | | Percentage | 96.7% | 88.9% | 92.9% | 92.9% | 92.9% |
April 2007 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $5,100,000 | $399,000 | $1,846,618 | $1,749,500 | $62,785,025 | | | | Sold Price | $5,000,000 | $385,000 | $1,763,915 | $1,710,050 | $59,973,100 | 113 | 34 | | Percentage | 98.0% | 96.5% | 95.5% | 97.7% | 95.5% |
The weak housing market came to Westport with a vengeance, in March. Only 15 single family homes sold this month vs. 30 in March 2007. Days on the market, at 85, dropped significantly,
to less than half the market time, of the previous month and well off a year ago's pace. This,
plus the high sale to list percentage, may well be reflective of a market in which the more conservatively priced properties are the ones selling. March 2008 | | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $4,295,000 | $699,000 | $1,511,300 | $1,387,000 | $22,669,500 | | | Sold Price | $4,125,000 | $685,000 | $1,447,366 | $1,339,000 | $21,710,500 | 85 | 15 | | Percentage | 96.0% | 98.0% | 95.8% | 96.5% | 95.8% | | |
March 2007 | | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $4,975,000 | $495,000 | $1,597,093 | $1,447,000 | $47,912,800 | | | Sold Price | $4,975,000 | $435,000 | $1,532,583 | $1,370,000 | $45,977,500 | 118 | 30 | | Percentage | 100.0% | 87.9% | 96.0% | 94.7.% | 96.0.% | |
The high end of the market helped give February '08 total sales volume a 30% boost over the corresponding month, a year ago. Unit sales, however, were off 18%. February 2008 | | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $7,100,000 | $450,000 | $2,183,614 | $1,637,000 | $30,570,600 | | | Sold Price | $6,235,000 | $440,000 | $2,025,000 | $1,475,000 | $28,350,000 | 178 | 14 | | Percentage | 87.8% | 97.8% | 92.7% | 90.1% | 92.7 | | |
February 2007 | | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $3,595,000 | $575,000 | $1,381,111 | $1,299,000 | $23,478,900 | | | Sold Price | $3,475,000 | $540,000 | $1,329,838 | $1,200,000 | $22,607,250 | 133 | 17 | | Percentage | 96.7% | 93.9% | 96.3% | 92.4% | 96.3% |
Despite all the media headlines of doom and gloom, the Westport real estate market held it's own
in January. Number of single family homes sold kept apace of last year. Median sales price edged
a bit higher than January 2007 January 2008 | | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $5,999,000 | $675,000 | $1,915,188 | $1,299,500 | $34,473,400 | | | Sold Price | $5,200,000 | $600,000 | $1,784,250 | $1,226,000 | $32,116,500 | 113 | 18 | | Percentage | 86.7% | 88.9% | 93.2% | 94.3% | 93.2% | | |
January 2007 | | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $5,825,000 | $419,000 | $1,768,472 | $1,282,000 | $31,832,500 | | | Sold Price | $5,565,000 | $410,000 | $1,625,305 | $1,252,500 | $29,255,500 | 121 | 18 | | Percentage | 95.5% | 97.9% | 91.9% | 97.7% | 91.9.% | |
* Reflects the most recent list price. Previous price reductions may have been taken THIS DATA IS COMPILED FROM THE CONSOLIDATED MULTIPLE LISTING SERVICE AND MAY NOT ALWAYS BE ACCURATE. NO WARRANTY IS MADE AS TO THE ACCURACY OF THIS INFORMATION. YOU SHOULD VERIFY ANY INFORMATION THAT IS IMPORTANT TO YOUR BUYING |