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