Westport Real Estate Market Statistics - 2008
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The following tables represent monthly sales of single family homes
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 |
$1,882,413 |
$1,895,000 |
$43,295,499 |
|
|
| Sold Price |
$5,700,000 |
$632,000 |
$1,758,652 |
$1,845,000 |
$40,449,000 |
86 |
23 |
| Percentage |
91.2% |
95.9% |
93.4% |
97.4% |
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 23% boost over the corresponding month, a year ago. Unit sales, however, were off 24%.
February 2008
|
High |
Low |
Average |
Median |
Total |
Avg MT |
# Sold |
| List Price* |
$7,100,000 |
$450,000 |
$2,305,053 |
$1,639,000 |
$29,965,700 |
|
| Sold Price |
$6,235,000 |
$440,000 |
$2,134,615 |
$1,550,000 |
$27,750,000 |
183 |
13 |
| Percentage |
87.8% |
97.8% |
92.6% |
94.6% |
92.6% |
|
|
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 |