Lic CT RE Agent
Westport market snapshot: 3/31/2017
The Westport market closed the first quarter of 2017 with an 8.1% increase over 2016 via 67 transactions. Sales in March jumped 44% over March 2016 with 26 closings versus 18 last year. Listing inventory increased to 380 active properties (1 above last year). The absorption rate dropped to 15 months thanks to strong sales results. Pricing was mixed with the median at $1,600,000 (+15.9%) and the average at $1,590,118 (-2.9%). The small sample of sales will cause the volatility witnessed in these results. The sales pipeline holds 97 transactions an 18.3% increase over last year (82 sales). 49 sales are CTS (accepted offer) and 48 are pending (contract) among these 37 are $1-2 million, 17 are $2-3 million, 5 at $3-4 million and 7 are $4 million+. April 2016 generated 35 sales, the strong pipeline results suggest that the Westport market can reap further gains this month.
Number of sales:
|Month||Sales, Number of 2015||Sales, Number of 2016||Sales, Number of 2017|
Year: All $ $0-1 mil $1-2 mil $2-3 mil $3-4 mil $4 mil +
2016: 62 18 27 11 5 1
2017: 67 21 30 12 4 0
Number of listings:
Months of inventory (absorption rate):
|Month||Months of Inventory 2015||Months of Inventory 2016||Months of Inventory 2017|
Median sales price:
Average sales price:
All information is from sources deemed reliable but is subject to errors, omission, change in price, or withdrawal without notice. No representation or guaranty is made as to accuracy of any description. All measurements and other information should be re-confirmed by customer. If your property is currently listed with a Realtor, please disregard this offer, this is not intended as a solicitation of listings of other real estate licensees.