Tag: market report

Westport, CT Market Snapshot May 2017

The Westport real estate market ended May with a YTD increase in sales of 12.3% via 146 transactions. The $1-2 MM price point led the market with 66 sales for a 22.2% increase.

Listing inventory checked in at 412 actives, a 5.7% decline over last year. The upward bump in sales caused the absorption rate to decline, moving from 13 months last year to 10 months.

Pricing was up with the median at $1,507,500 (+11.7%) and the average at $1,684,383 (+2.8%).

The sales pipeline holds 110 sales, which is a 23.3% increase over a year ago, with 29 CTS (binder) and 81 pending (contract). 49 sales are $1-2M, 15 are $2-3M, 5 are $3-4M and 3 are over $4M. June of 2016 produced 55 sales; the current pending of 81 sales provides a solid opportunity for the Westport market to build on its YTD gains.

 

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 17 26
Apr 21 35 37
May 33 34 42
Jun 44 55
Jul 62 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:            130                 42                        54                           22                          9                          3

2017:            146                 41                        66                           26                          8                          5

 

Number of listings:

Month Active Listings, Number of 2015 Active Listings, Number of 2016 Active Listings, Number of 2017
Jan 267 295 301
Feb 294 328 348
Mar 331 379 392
Apr 395 427 404
May 432 437 412
Jun 422 441
Jul 410 409
Aug 381 389
Sep 398 386
Oct 374 358
Nov 337 333
Dec 279 299

 

 

Months of inventory (absorption rate):

Month Months of Inventory 2015 Months of Inventory 2016 Months of Inventory 2017
Jan 15 15 13
Feb 17 14 20
Mar 13 22 15
Apr 19 12 11
May 13 13 10
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:                  $1,350,000

2017:                  $1,507,500  

 

Average sales price:

2016:                  $1,638,005

2017:                  $1,684,383

Weston, CT Market Snapshot April 2017

The Weston market ended April with 37 YTD closings for an increase of 12.1% over 2016.  The strength was under $1 million with 27 sales, an increase of 22.7% over last year.

 Listing inventory totaled 176 active properties, that’s 10.2% below last year’s total (196).  The combination of sales and contracting inventory enabled the absorption rate to drop from 18 to 14 months (It was also 18 months in April 2016).  Pricing was down, again due to the activity in the lower end with the median at $745,000 (-3.4%) and the average at $783,768 (-8.6%).

The sales pipeline holds 49 transactions; this is an impressive 58% increase over last year’s total of 31 sales.  24 are CTS (binder) and 25 are pending (contract), with 13 from $1-2 million and 2 in excess of $2 million.

May 2016 yielded 11 sales, with a pending pipeline of 25 transactions; it appears that the Weston market will build on its YTD gains by the end of May.

 Number of sales:

 

Month

Sales, Number of 2015

Sales, Number of 2016

Sales, Number of 2017

Jan

9

3

5

Feb

4

7

10

Mar

8

12

9

Apr

12

11

13

May

20

11

Jun

19

20

Jul

22

15

Aug

14

30

Sep

16

19

Oct

7

12

Nov

11

15

Dec

14

10

 

Year:          All $             $0-1 million        $1-2 million        $2 million +

2016:               33                        22                        10                      1    

2017:               37                        27                        10                       0        

 

Number of listings:

Month

Active Listings, Number of 2015

Active Listings, Number of 2016

Active Listings, Number of 2017

Jan

114

145

117

Feb

126

167

135

Mar

136

188

162

Apr

158

196

176

May

165

202

Jun

175

195

Jul

179

194

Aug

175

175

Sep

175

172

Oct

168

149

Nov

144

134

Dec

135

120

 

Months of inventory (absorption rate):

Month

Months of Inventory 2015

Months of Inventory 2016

Months of Inventory 2017

Jan

13

48

23

Feb

32

24

14

Mar

17

16

18

Apr

13

18

14

May

8

18

Jun

9

10

Jul

8

13

Aug

13

6

Sep

11

9

Oct

24

12

Nov

13

9

Dec

10

12


Median sales price:

2016:          $745,000

2017:          $720,000

 

Average sales price:

2016:          $857,248

2017:          $783,768

2017 Q1 CT Real Estate Sales Report

Halstead just released the first quarter real estate sales report for Connecticut.

Read it HERE

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