Westport, Connecticut Moves

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Westport, CT - July home sales - Best month year-to-date

After a disappointing spring, single family homes sales, in Westport Connecticut, provided an encouraging note, for the housing market.  When compared with the previous year, July sales posted gains in average sold price, median sold price and overall dollar volume.  Number of transactions was flat, with 38 units sold in July 2008, compared with 39, in 2007.  During the previous four months, unit sales had posted losses between 44 and 57 percent.

Westport, CT July Homes Sales

While the increased number of monthly transactions was good news, it does not necessarily mean that the market has rebounded.  One possible explanation for the surge in sales may have to do with the psychology of the market. 

During the traditionally strong spring months, March through June, the public was being told about the fantastic opportunities in the "buyer's market."  There were reports of sales at 30, 40 or even higher percentages off asking price.  These reports, however, reflected national averages.  In Westport, there was some softening, but average sales price never collapsed.  Buyers stayed on the sidelines, waiting for prices to come down.  As the summer approached, those families that wanted to be in place, before the new school year, realized that prices were remaining fairly steady and it was time to pull the trigger.

It will be interesting to see if Westport can continue to match last year's pace, in the coming months.

Copyright © 2008 Marilyn Katz, All Rights Reserved, Westport, CT- July home sales - Best month year-to-date

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Marilyn Katz

      Marilyn Katz

    Berkshire Hathaway Homes Services New England Properties    
     203-429-1041
  Servings Westport, CT
  and the surrounding communities  

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Copyright © 2013 Marilyn Katz, All Rights Reserved

Comment balloon 2 commentsMarilyn Katz • August 18 2008 09:16PM

Comments

I am originally from Branford, have a lot of friends in CT who say things are starting to pick up. Hope business is good for you.

Posted by James Wexler (wexzilla.com) almost 10 years ago

James-  July was a good month.  I hope it continues.  How are things in Scottsdale?  It's beautiful country.  I liked everything except the signs that read, "beware of rattlesnakes."

Posted by Marilyn Katz, ABR, e-PRO - WestportCTProperties.com (Berkshire Hathaway HomeServices New England Properties) almost 10 years ago

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