On October 26, 2012, the Friday before Hurricane Sandy slammed into the northeast coast, there were 310 single-family homes actively listed in the Westport market. Just one month later, that number dropped 16%, to 259. Condo listings fell 33%, from twelve to eight and available rentals, including long and short-term, furnished and unfurnished, were down 22%, falling from 90 to 70. Certainly, the hurricane was not the only factor affecting the market. It was more like inventory being hit by “the perfect storm.”
Author Bio: Marilyn Katz writes about real estate and Westport, CT. In her blog she highlights community amenities, events and activities and offers insight into the local real estate market. In her real estate practice she works with buyers, sellers and renters in Westport, CT and the surrounding communities.
Westport, CT: Inventory takes a hit from Mother Nature and Father Time
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