Shannon McAvoy
Lic CT RE Agent
203.919.6363
smcavoy@halstead.com
www.greentekhomes.com

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
Jan 18 20 24
Feb 17 24 17
Mar 26 18 26
Apr 21 35
May 33 34
Jun 44 55
Jul 61 33
Aug 40 49
Sep 36 24
Oct 37 26
Nov 22 20
Dec 28 28

  

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:

Month Active Listings, Number of 2015 Active Listings, Number of 2016 Active Listings, Number of 2017
Jan 266 295 295
Feb 293 328 342
Mar 330 379 380
Apr 394 427
May 431 437
Jun 421 441
Jul 410 409
Aug 381 389
Sep 399 385
Oct 375 357
Nov 338 331
Dec 280 295

 

 

Months of inventory (absorption rate):

Month Months of Inventory 2015 Months of Inventory 2016 Months of Inventory 2017
Jan 15 15 12
Feb 17 14 20
Mar 13 21 15
Apr 19 12
May 13 13
Jun 10 8
Jul 7 12
Aug 10 8
Sep 11 16
Oct 10 14
Nov 15 17
Dec 10 11

 

Median sales price:
2016: $1,380,000
2017: $1,600,000

Average sales price:
2016: $1,638,149
2017: $1,590,118

 

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.