Westport Real Estate and Home Sales Update
March 30, 2008
Westport continues a trend of lackluster first quarters in terms of units sold. Only 43 homes sold in Jan, Feb and March combined. This is down 34% from last year and down over 50% from 2006!
The Average Selling Price is up but this is driven in part by the small number of homes sold. The Median Selling Price is up 7% from last year but below the 2006 level. And even though this number appears stable, the general feeling is that prices are down and buyers are getting more for their money this year.
Westport had a strong finish last year and we are hoping for the same this year. The second quarter has begun and time is running low.......where, oh where, have the buyers gone?
WESTPORT Update | |||||
Year to Date Sales of Single Family Homes | |||||
As of March 30 | |||||
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| 2008 | 2007 | 08 vs 07 | 2006 | 08 vs 06 |
Closes | 43 | 65 | -34% | 92 | -53% |
Median Price | $1,344,000 | $1,255,000 | 7% | $1,387,000 | -3% |
Avg Selling Price | $1,814,721 | $1,505,235 | 21% | $1,780,465 | 2% |
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Prepared by the TETREAU Real Estate Group from W. Raveis Real Estate | |||||
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