Fairfield County Homes for Sale: Westport Connecticut Real Estate Market Trends - August 2012

Westport Connecticut Real Estate Market Trends - August 2012

Westport CT Real Estate Market Trends August 2012

 

Westport had a good Spring market and as you can see from all the green above, the market is strengthening and moving towards a Seller’s Market.  It is still a Buyer’s Market with 11.3 months of inventory on the market (the 12 month figure is used for the absorption analysis), but the trend is towards a balanced market as the 3 month figure is 6.8 (6 months is a balanced market).   The three month trend prices are lower than the six month trend prices, but still higher than a year ago.

Westport appears to have hit bottom in Q1 2012 and is in recovery.

What homes are most in demand by buyer in Westport?  The sweet spot in the market is for 4 bedroom homes with a list price of $1.2-1.3 million.  They tend to be on the market only 103 days and sell for 95% of list price.

 

 

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Comment balloon 9 commentsGail Robinson • September 06 2012 05:52AM

Comments

Gail I like the meter it really gets the point across.  Now let see if we can get it to move to the middle.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) about 6 years ago

George - It seems to be heading in that direction.  Hoping it continues.

 

Posted by Gail Robinson, CRS, GRI, e-PRO Fairfield County, CT (William Raveis Real Estate) about 6 years ago

Gail: That is such good news for sellers. Buyers better get the message and not wait too long because your prices are, or will be, going up.

Posted by Hella Mitschke Rothwell, Hawaii & California Real Estate Broker ((831) 626-4000) about 6 years ago

Hella - I have one buyer right now who made an offer last weekend and is dragging the counteroffer process out.  Now another offer has come in!  Buyers do not understand that the market is turning.

Posted by Gail Robinson, CRS, GRI, e-PRO Fairfield County, CT (William Raveis Real Estate) about 6 years ago
Gail, you can tell buyers all you want about the market turning and not to delay on making an offer or even that the low ball offers just aren't working anymore...it takes them losing a house or two and then they'll finallly get it.
Posted by Nick T Pappas, Madison & Huntsville Alabama Real Estate Resource (Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Huntsville AL) about 6 years ago

Good morning Gail -

What a neat graphic you have with the odometer for buyers and sellers!  Eye catching.  The market is leaning slightly towards a sellers market in our area.  Many home buyers don't understand and are still wanting to low ball and are balking at the fact the days of it being a buyers market are no more.  I'm seeing more and more seller say no thanks we'll wait and within a couple days their homes are Pending with another offer. 

Thanks for your support in the Rain and I hope you enjoy an awesome Sunday!

Posted by John McCormack, AlbuquerqueHomes.com, Albuquerque Homes Realty (Albuquerque Homes Realty * www.AlbuquerqueHomes.com) about 6 years ago

That is by far the neatest graphic I've ever seen attached to a market report. I love it Gail. Buyers are moving out of the cat-bird seat...they better pounce while they still have a bit of clout. Take care and have a wonderful Sunday.

Posted by Debb Janes EcoBroker and Bernie Stea JD, REALTORS® in Clark County, WA (ViewHomes of Clark County - Nature As Neighbors) about 6 years ago

I love the graphic, Gail. It's a scramble to find good graphics that are different from everyone else's and that's a great one. Your market may have little or no inventory soon, that's the way ours is going.

Posted by Toni Weidman, 26 Years Selling Homes in New Port Richey, FL (Sailwinds Realty) about 6 years ago

The graphic is designed to be a standalone, which I do use on my social media as a standalone to encourage people to contact me to find out more.  I also include the market statistics that I labor over below them on AR because I think the Nudge app does attract attention. This is only one of several kinds.  Check them out at www.getnudgeapp.com

Posted by Gail Robinson, CRS, GRI, e-PRO Fairfield County, CT (William Raveis Real Estate) about 6 years ago

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