Westport Real Estate Market Statistics - 2009 Please bookmark this page and check back often for the latest market information The following tables represent monthly sales of single family homes The pattern continued in the final month of the 4th quarter, with unit sales outpacing the coresponding period, a year ago. While number of single family homes sold showed a gain of 24%, prices continued to be pressured to the downside. Average sold price was off by 14%. December 2009 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $3,999,000 | $560,000 | $1,464,295 | $1,180,000 | $30,750,200 | | | Sold Price | $3,500,000 | $530,000 | $1,312,147 | $1,212,000 | $27,555,100 | 154 | 21 | | Percentage | 87.5% | 94.6% | 89.6% | 102.7% | 89.6% |
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% | 92.5% |
Unit sales surged, in November, posting an 86% gain vs. November 2008. It was the lower price points, however, that again supported the market. Half of the homes sold for less than $900,000. Average time on the market rose to 161 days. November 2009 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $4,695,000 | $550,000 | $1,379,723 | $942,000 | $35,872,799 | | | Sold Price | $4,100,000 | $555,000 | $1,271,343 | $897,500 | $33,054,925 | 161 | 26 | | Percentage | 87.3% | 100.9% | 92.1% | 95.3.9% | 92.1% |
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% |
For the first time this year, monthly units sales outpaced the corresponding period, a year ago (29 vs. 23). October median sales price jumped to $1,250,000, an increase of $267,500, compared with the previous month. However, homes were taking longer to sell, with market time averaging five months. October 2009 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $8,500,000 | $295,900 | $2,092,531 | $1,395,000 | $60,683,400 | | | Sold Price | $6,850,000 | $277,000 | $1,906,155 | $1,250,000 | $55,278,500 | 150 | 29 | | Percentage | 80.6% | 93.6% | 91.1% | 89.6% | 91.1% |
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% |
Median sold price, in September, was off a whopping 35%, compared with the corresponding period, last year. This despite the fact that one quarter of the sales were in the $1.5 mil to $2 mil price point. Units sales continued to lag last year, down 13%. September 2009 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $3,250,000 | $549,000 | $1,310,418 | $1,012,500 | $26,208,376 | | | | Sold Price | $3,062,000 | $549,000 | $1,219,975 | $982,500 | $24,399,500 | 114 | 20 | | Percentage | 94.2% | 100.0% | 93.1% | 97.0% | 93.9% |
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% | 94.03% | 94.9% |
Although the housing market remained soft, compared with a year ago, the median sold price of a single family home continued to inch up, in August. Unit sales were down 14% vs. August 2009 and average selling price was off by 20%. August 2009 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $6,850,000 | $399,000 | $1,544,964 | $1,499,000 | $47,893,900 | | | | Sold Price | $6,500,000 | $340,000 | $1,439,596 | $1,380,000 | $44,627,500 | 107 | 31 | | Percentage | 94.9% | 85.2% | 93.2% | 92.1% | 93.2% |
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 | 104 | 36 | | Percentage | 91.6% | 93.2% | 93.2% | 93.9% | 93.2% |
July's single family home, monthly average selling price, posted its highest level since February. The median sales price, at $1,300,000 was off 16%, compared with July 2008. Units sales lagged behind a year ago, down 13%. July 2009 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $4,200,000 | $480,000 | $1,721,781 | $1,395,000 | $56,818,799 | | | | Sold Price | $3,975,000 | $424,000 | $1,616,212 | $1,300,000 | $53,335,000 | 110 | 33 | | Percentage | 94.6.3% | 88.3% | 93.9% | 93.2.3% | 93.9% |
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 | 89 | 38 | | Percentage | 94.3% | 99.6% | 93.9% | 89.3% | 93.9% |
The market again found its footing, in June, as unit sales were only 2 behind 2008 figures. Dollar sales, however, continued to be weak, as the lower end still dominated. Median price for a single family home fell 22%, compared with June 2008 June 2009 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $3,250,000 | $450,000 | $1,538,056 | $1,195,500 | $44,603,649 | | | | Sold Price | $3,250,000 | $425,000 | $1,429,401 | $1,150,000 | $41,452,650 | 104 | 29 | | Percentage | 100.0% | 94.4% | 92.9% | 96.2% | 92.9% |
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 | 108 | 31 | | Percentage | 98.4% | 91.9% | 95.7% | 95.2% | 95.7% |
The encouraging signs shown earlier, this spring, came to a screeching halt in May. Single family home sales fell 33%, compared with May 2008. Home sales remained concentrated in the low end of the market, as evidenced by a median sale price of $870,000, $30,000 below last month and $670,000 below a year ago. May 2009 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $2,345,000 | $525,000 | $1,133,804 | $919,500 | $18,140,876 | | | | Sold Price | $1,975,000 | $462,500 | $1,012,093 | $870,000 | $16,193,500 | 132 | 16 | | Percentage | 84.2% | 88.1% | 89.3% | 94.6.9% | 89.3% |
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% |
Home sales continued to show some improvement as we moved further into the spring market. However, there was a definite shift in the market segment, selling. Although the number of single family homes sold during April 2009 was only two shy of last April's results, dollar volume was off by 41%. Half of the transactions were for sales under $900,000. This represented a quarter of a million dollar shift from median price, a year ago. April 2009 | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $3,479,000 | $449,000 | $1,175,082 | $929,000 | $19,976,400 | | | Sold Price | $3,150,000 | $445,000 | $1,067,116 | $900,000 | $18,140,988 | 113 | 17 | | Percentage | 09.5% | 99.1% | 90.8% | 96.9% | 90.8% |
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% |
March sale statistics continue the pattern set last month. Although sales continue to lag 2008, units are only 3 behind March 2008, while median sold price is up 7%. Average selling price is flat, compared with the comparable month, a year ago. March 2009 | | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $3,495,000 | $585,000 | $1,627,416 | $1,637,000 | $19,529,000 | | | Sold Price | $2,800,000 | $565,000 | $1,447,333 | $1,436,250 | $17,368,000 | 155 | 12 | | Percentage | 80.1% | 96.6% | 88.9% | 87.7% | 88.9% |
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% |
Westport posted some encouraging numbers as we moved into the spring market. Although still behind last year, unit sales were only off by 3 (11 vs. 14.) Median sold price rose 8% compared with February 2008. Anecdotal evidence says buyer activity is on the rise. While one month does not make a trend, perhaps we are seeing a bottom starting to form. February 2009 | | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $3,995,000 | $499,000 | $2,018,254 | $1,599,000 | $22,200,800 | | | Sold Price | $3,828,405 | $420,000 | $1,819,300 | $1,599,000 | $20,012,305 | 143 | 11 | | Percentage | 95.8% | 84.2% | 90.1% | 100.0% | 90.1% |
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% |
With only five single family homes selling in Westport, during the first month of the year, it is hard to make a statistically accurate assessment of the market. However, a few items seem worth noting. Units sales were down 72%, compared with January 2008. The highest priced sale, at $1,200,000 was less than the median sale price, a year ago. Overall sale to list price ratio was 82%, clearly an indication that this is a firmly entrenched buyer's market. January 2009 | | High | Low | Average | Median | Total | Avg MT | # Sold | | List Price* | $1,600,000 | $459,000 | $837,000 | $700,000 | $4,188,000 | | | Sold Price | $1,200,000 | $395,000 | $688,212 | $560,000 | $3,441,060 | 120 | 5 | | Percentage | 75.0% | 79.8% | 82.2% | 80.0% | 82.2% |
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% | | |
* 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 |