Westport, Connecticut Moves

Westport, Connecticut Moves http://westportmoves.com/ Moving Up, Moving Down, Moving In or Moving Out, I'll will work with you to make All the Right Moves. en-us http://westportmoves.com/post/3720603/westport-ct-1st-quarter-market-stats-2013 Westport, CT – 1st Quarter Market Stats 2013 <p class="MsoNormal"><strong><span><span>Westport, CT – 1<sup>st</sup> Quarter Market Stats 2013</span></span></strong></p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="MsoNormal"><strong><span><span>Units</span></span></strong></p> <p class="MsoNormal"><span><span>Westport single-family home sales posted its best 1<sup>st</sup> quarter market results since 2006.There were seventy-nine closed transactions during the quarter, representing a thirty percent gain over 1st quarter 2012.</span></span></p> <p class="MsoNormal"> </p> <p class="MsoNormal"><span><span><img title="Westport, CT - 1st Quarter Market Stats" src="http://activerain.com/image_store/uploads/9/0/1/8/2/ar1368035128109.gif" height="227" alt="Westport 1Q13 single-family home sales " width="400"></span></span></p> <p class="MsoNormal"> </p> <p class="MsoNormal"><strong><span><span>Dollars</span></span></strong></p> <p class="MsoNormal"><span>Prices were fairly flat, for the 1<sup>st</sup> quarter. Although moving to the up side, median sold price only showed a one percent gain, compared with a year ago. However, on a positive note for the trend, this was the second year that the 1<sup>st</sup> quarter median sales price was higher than the overall median sale price for the preceding year. Prior to 2012, that hadn’t happened since 2006. During 2012, each quarter posted a higher median price than the corresponding quarter, 2011.</span></p> <p class="MsoNormal"><span> </span></p> <p class="MsoNormal"><strong><span><span>Market Time</span></span></strong></p> <p class="MsoNormal"><span>While unit and dollar sales both trended up, transactions took longer to close. Sold listings remained on the market for an average of 136 days, the longest 1<sup>st</sup> quarter market time since 2009.</span></p> <p class="MsoNormal"><span> </span></p> <p class="MsoNormal"><strong><span><span>Sales to List Price<br></span></span></strong><span>Continuing the encouraging results for 1<sup>st</sup> quarter market stats, the ratio of median sale price to median list price showed improvement over 2012.</span></p> <p><span><span>Sale to List Ratio<br></span></span><span>95.5%     1Q13<br></span><span>94.6%     1Q12<br>93.0%      2012</span></p> <p><strong><span>Inventory<br></span></strong><span>The year started with</span><span> roughly seven and a half months of inventory, for single-family homes. As activity picked up, there was also an increase in listings. As of May 1, inventory levels moved up to 8.3 months. While the market continues to favor buyers, anecdotal evidence points to a more competitive environment, with well priced houses receiving multiple bids and selling quickly.</span></p> <p> </p> <div class="agent_signature"> <p><img title="Marilyn Katz" src="http://activerain.com/image_store/uploads/6/8/3/9/7/ar133658596379386.jpg" height="95" alt="Marilyn Katz" width="75"></p> <p>        <a href="https://plus.google.com/u/0/114577235852573843155/?rel=author%22">Marilyn Katz</a></p> <p>    <img title="Prudential CT Realty" src="http://activerain.com/image_store/uploads/1/0/4/2/0/ar136155216802401.jpg" height="36" alt="Prudential CT Realty" width="80">    <br>  203-429-1041<br>  Servings Westport, CT <br>  and the surrounding communities  </p> <p><a href="http://activerain.com/action/blogs_admin/subscribe?subscribed_agent_id=11926"><img src="http://activerain.comhttp://activerain.com/image_store/uploads/5/3/6/1/9/ar121529853991635.png" height="65" alt="Click to subscribe to my AR Blog" width="134"></a> <br><br> <a href="http://westportmoves.listingbook.com" title="free listing book account"><img src="http://www.listingbook.com/cgi-bin/controls/client_form/green.gif" height="40" alt="" width="120"></a> <br> Search Like an Agent</p> <p>Copyright © 2013 Marilyn Katz, All Rights Reserved</p> </div> Marilyn Katz - ABR, e-PRO - WestportCTProperties.com (Prudential Connecticut Realty) Wed, 08 May 2013 11:10:25 -0700 http://westportmoves.com/post/3720603/westport-ct-1st-quarter-market-stats-2013 http://westportmoves.com/post/3661949/westport-market-momentum-continues Westport Market Momentum Continues <p><span>As we draw to the end of the first quarter, we continue to see signs of recovery in the Westport housing market. After the December sales surge and the sparse inventory that followed, <a href="http://www.westportctproperties.com/2013_Wspt_Market_Statistics/page_2558022.html" title="Westport Market January 2013">January</a> saw a slight dip in single-family home sales. Since then, activity has picked up. <strong>Year-to-date (3/16/13,) Westport has fifty-nine sales</strong>, posting a nine percent gain over the corresponding period, last year. With half the month of March to go, unit sales are only two behind the first quarter of 2012. That number should be easily reached as there are currently fifty-four sales pending and another fifty-one homes with agreed to offers.</span></p> <p><span>Another sign of the rebounding market is the strengthening prices. Year-to-date, the average sold price of a Westport, single-family home was $1,511,217, up $142,463 from $1,368,754 in 2012. The 10 percent jump in price was not skewed by an out-of-bounds sale, but clearly reflects the market, as seen in the corresponding median prices of $1,535,000 vs. $1,212,500. </span></p> <p><span>Short-term, Westport appears to be set for a healthy spring market, as evidenced by an active pipeline (noted above.)  While inventory remains low, it has been keeping pace with sales and is slowly inching higher. Prices continue to be buoyed by low mortgage rates.</span></p> <p><span><strong><span>THIS DATA IS COMPILED FROM THE CONSOLIDATED MULTIPLE LISTING SERVICE AND MAY NOT ALWAYS BE ACCURATE. NO WARRANTY IS MADE AS TO THE ACCURACY OF THIS INFORMATION. YOU SHOULD VERIFY ANY INFORMATION THAT IS IMPORTANT TO YOUR BUYING </span></strong></span></p> <p> </p> <div class="agent_signature"> <p><img title="Marilyn Katz" src="http://activerain.com/image_store/uploads/6/8/3/9/7/ar133658596379386.jpg" height="95" alt="Marilyn Katz" width="75"></p> <p>        <a href="https://plus.google.com/u/0/114577235852573843155/?rel=author%22">Marilyn Katz</a></p> <p>    <img title="Prudential CT Realty" src="http://activerain.com/image_store/uploads/1/0/4/2/0/ar136155216802401.jpg" height="36" alt="Prudential CT Realty" width="80">    <br>  203-429-1041<br>  Servings Westport, CT <br>  and the surrounding communities  </p> <p><a href="http://activerain.com/action/blogs_admin/subscribe?subscribed_agent_id=11926"><img src="http://activerain.comhttp://activerain.com/image_store/uploads/5/3/6/1/9/ar121529853991635.png" height="65" alt="Click to subscribe to my AR Blog" width="134"></a> <br><br> <a href="http://westportmoves.listingbook.com" title="free listing book account"><img src="http://www.listingbook.com/cgi-bin/controls/client_form/green.gif" height="40" alt="" width="120"></a> <br> Search Like an Agent</p> <p>Copyright © 2013 Marilyn Katz, All Rights Reserved</p> </div> Marilyn Katz - ABR, e-PRO - WestportCTProperties.com (Prudential Connecticut Realty) Sat, 16 Mar 2013 11:06:12 -0700 http://westportmoves.com/post/3661949/westport-market-momentum-continues http://westportmoves.com/post/3586899/westport-real-estate-2012-market-report Westport Real Estate: 2012 Market Report <p class="MsoNormal"><span>Spurred by the uncertainty of new tax policy, Westport single-family home sales surged during the final two months of the 2012. The fourth quarter gained 43 percent, effectively pushing sales into the plus column for the year. Unit sales posted an annual gain of 4.9 percent. Prices also reflected a modest gain, 2012 vs. 2011. Average selling price was $1,401,041, up 4.6 percent, although only half the homes sold above $1,210,000.  </span></p> <p class="MsoNormal"> </p> <p class="MsoNormal"><span><img title="Westport Home Sales 2012 vs 2011" src="http://activerain.com/image_store/uploads/9/1/5/4/5/ar135824841054519.gif" height="146" alt="Westport Home Sales 2012 vs 2011" width="200"></span></p> <p class="MsoNormal"><span> </span></p> <p class="MsoNormal"><span>Larger homes dominated the market. Homes with 5 or more bedrooms accounted for 40.7 percent of sales. As might be expected, the highest price points were predominantly new construction homes. Overall, 19.4 percent of single-family homes sold for $2 million or more. Of these, 81.4 percent were new construction homes, with an average selling price of $2,357,323.</span></p> <p class="MsoNormal"> </p> <p class="MsoNormal"><span><img title="Westport Homes Sales by Number of Bedrooms" src="http://activerain.com/image_store/uploads/5/6/8/0/9/ar1358248590865.gif" height="146" alt="Westport Homes Sales by Number of Bedrooms" width="200"></span></p> <p class="MsoNormal"> </p> <p class="MsoNormal"><span>The flurry of year-end sales was unaccompanied by a match in new listings, resulting in very low inventory at the end of December. Eighteen homes came on the market during the first two weeks of January, bringing current inventory to 193 actively listed, single-family homes. Based on the past year’s sales, this translates to 6.4 months of supply.<span>  </span>Traditionally, this would be considered a balanced market, leaning towards a seller’s market. Drilling down further indicates that 68 percent of the active inventory has been listed for three or more months, making an even stronger case that the market is slanted towards the seller. </span></p> <p class="MsoNormal"><span> </span></p> <p class="MsoNormal"><span>Putting even more pressure on supply is an existing disconnect between the distribution of active listings and buyers’ preference. While less than one in five homes sold for $2 million or more, in 2012, nearly 40% of the current inventory is at that price point. Only nine of last year’s sales were for $4 million or more, yet there are nineteen homes currently listed in that range. </span></p> <p class="MsoNormal"><span> </span></p> <p class="MsoNormal"><span>On a positive note, the momentum exhibited at the end of the 2012 appears to be carrying over into 2013. Though only ten homes have closed, as of January 14th, thirty-six transactions are pending and another seventeen homes have agreed-to offers. There were 61 single-family homes sold during the first quarter of 2012 and Westport appears to be on track to match or exceed that total in 2013. Considering the current tight supply, homeowners, thinking about selling, would be well advised to put their homes on the market sooner, rather than later, when their listing might be lost in the seasonal jump in spring market inventory.</span></p> <h6><span><strong><span><span>THIS DATA IS COMPILED FROM THE CONSOLIDATED MULTIPLE LISTING SERVICE AND MAY NOT ALWAYS BE ACCURATE. NO WARRANTY IS MADE AS TO THE ACCURACY OF THIS INFORMATION. YOU SHOULD VERIFY ANY INFORMATION THAT IS IMPORTANT TO YOUR BUYING </span></span></strong></span></h6> <div class="agent_signature"> <p><img title="Marilyn Katz" src="http://activerain.com/image_store/uploads/6/8/3/9/7/ar133658596379386.jpg" height="95" alt="Marilyn Katz" width="75"></p> <p>        <a href="https://plus.google.com/u/0/114577235852573843155/?rel=author%22">Marilyn Katz</a></p> <p>    <img title="Prudential CT Realty" src="http://activerain.com/image_store/uploads/1/0/4/2/0/ar136155216802401.jpg" height="36" alt="Prudential CT Realty" width="80">    <br>  203-429-1041<br>  Servings Westport, CT <br>  and the surrounding communities  </p> <p><a href="http://activerain.com/action/blogs_admin/subscribe?subscribed_agent_id=11926"><img src="http://activerain.comhttp://activerain.com/image_store/uploads/5/3/6/1/9/ar121529853991635.png" height="65" alt="Click to subscribe to my AR Blog" width="134"></a> <br><br> <a href="http://westportmoves.listingbook.com" title="free listing book account"><img src="http://www.listingbook.com/cgi-bin/controls/client_form/green.gif" height="40" alt="" width="120"></a> <br> Search Like an Agent</p> <p>Copyright © 2013 Marilyn Katz, All Rights Reserved</p> </div> Marilyn Katz - ABR, e-PRO - WestportCTProperties.com (Prudential Connecticut Realty) Tue, 15 Jan 2013 03:20:36 -0800 http://westportmoves.com/post/3586899/westport-real-estate-2012-market-report http://westportmoves.com/post/3543313/westport-ct-inventory-takes-a-hit-from-mother-nature-and-father-time Westport, CT: Inventory takes a hit from Mother Nature and Father Time <p class="MsoNormal"><strong><span>Westport, CT: Inventory takes a hit from Mother Nature and Father Time</span></strong></p> <p class="MsoNormal"> </p> <p class="MsoNormal"><span><strong>On October 26, 2012,</strong> 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.”</span></p> <p class="MsoNormal"><span> </span></p> <p class="MsoNormal"> </p> <p class="MsoNormal"><span>                                                    <img title="Active Inventory Westport CT" src="http://activerain.com/image_store/uploads/1/8/6/1/3/ar135465573731681.gif" height="224" alt="Active Inventory Westport CT" width="300"></span></p> <p class="MsoNormal"> </p> <p class="MsoNormal"><strong><span><span>Strong Sales + Seasonal Slowdown + Storm </span></span></strong></p> <p class="MsoNormal"><span> </span></p> <p class="MsoNormal"><span><strong>Single-family home sales were strong in November</strong>. <span> </span>Comparing sales with November 2011, units sold spiked 72%, from 18 to 31. At the same time, there was the usual seasonal slowdown in new listings. Of the 259 listings active on November 26 (noted above), 77% had been on the market more than 60 days. Not only were solds not being replaced by new listings, but other listings were being cancelled or withdrawn. No doubt some of these were the result of hurricane damage.</span></p> <p class="MsoNormal"><span> </span></p> <p class="MsoNormal"><span><strong>Hurricane </strong>Sandy<strong> hit </strong>Westport<strong> hard on October 29</strong><sup><strong>th</strong>,. </sup>By the time the storm subsided, 7 homes were completely destroyed, 25 were tree damaged and 260 experienced some level of flooding. With many families needing temporary housing, pressure came to bear on the rental market. Twenty-seven listings were rented in November, up from 21 the previous year. As residents continue to make arrangements to repair their homes, available rental properties are still declining. Currently there are 63 rental units listed.  </span></p> <p class="MsoNormal"> </p> <p class="MsoNormal"><span>As the holiday season approaches, it is doubtful that we will see an acceleration in new listings. We will most likely start the New Year lean and mean. After an extended buyers market, perhaps we will finally give a little edge to home sellers.</span></p> <p class="MsoNormal"> </p> <p><span><strong><span>THIS DATA IS COMPILED FROM THE CONSOLIDATED MULTIPLE LISTING SERVICE AND MAY NOT ALWAYS BE ACCURATE. NO WARRANTY IS MADE AS TO THE ACCURACY OF THIS INFORMATION. YOU SHOULD VERIFY ANY INFORMATION THAT IS IMPORTANT TO YOUR BUYING </span></strong></span></p> <div class="agent_signature"> <p><img title="Marilyn Katz" src="http://activerain.com/image_store/uploads/6/8/3/9/7/ar133658596379386.jpg" height="95" alt="Marilyn Katz" width="75"></p> <p>        <a href="https://plus.google.com/u/0/114577235852573843155/?rel=author%22">Marilyn Katz</a></p> <p>    <img title="Prudential CT Realty" src="http://activerain.com/image_store/uploads/1/0/4/2/0/ar136155216802401.jpg" height="36" alt="Prudential CT Realty" width="80">    <br>  203-429-1041<br>  Servings Westport, CT <br>  and the surrounding communities  </p> <p><a href="http://activerain.com/action/blogs_admin/subscribe?subscribed_agent_id=11926"><img src="http://activerain.comhttp://activerain.com/image_store/uploads/5/3/6/1/9/ar121529853991635.png" height="65" alt="Click to subscribe to my AR Blog" width="134"></a> <br><br> <a href="http://westportmoves.listingbook.com" title="free listing book account"><img src="http://www.listingbook.com/cgi-bin/controls/client_form/green.gif" height="40" alt="" width="120"></a> <br> Search Like an Agent</p> <p>Copyright © 2013 Marilyn Katz, All Rights Reserved</p> </div> Marilyn Katz - ABR, e-PRO - WestportCTProperties.com (Prudential Connecticut Realty) Tue, 04 Dec 2012 13:18:49 -0800 http://westportmoves.com/post/3543313/westport-ct-inventory-takes-a-hit-from-mother-nature-and-father-time http://westportmoves.com/post/3485635/westport-ct-another-day-at-the-beach Westport, CT - Another Day at the Beach <h3> <img title="Compo Beach parking" src="http://activerain.com/image_store/uploads/4/2/8/6/5/ar135076318556824.jpg" height="150" alt="Compo Beach parking" width="200"><br>Compo Beach was hopping today, as Westporters turned out to enjoy a glorious October afternoon. Since beach parking stickers are not required after September 30, I wouldn't be surprised if some out-of-town friends were also in<br>attendance. Driving into the beach area, it was obvious<br>that all the best spots were taken.<br><br><br>As I walked the beach, I saw people taking taking advantage of the wide range of activities that the Compo Beach complex offers.<br><br>Of course, there were the sun-worshipers stretched out on blankets and beach chairs, soaking up the rays (it is the beach, after all!) I even saw a few brave folks taking a dip in the water. I know they say water temps remain "warm" through October, but is 65 degrees really mild enough for a swim? To be fair, those I noticed were wearing wet suits.<br> <br>         <img title="Compo Beach October 2012" src="http://activerain.com/image_store/uploads/9/1/7/5/2/ar135076438125719.jpg" height="150" alt="Compo Beach October 2012" width="200"><br> Dog owners were cavorting with their canine friends, as the <br> summer ban on pets at the beach is also lifted as of October <br> first.<br><br> Beach goers appreciated the fact that Joeys by the Shore,  <br> the Compo Beach concession, stays open through the late   <br> fall. I admit to being sorely tempted, as I watched happy kids  munching on french fries...but I resisted.<br><br>Looking out on Long Island Sound, I was a bit envious of those boaters who haven't yet winterized their vessels and were taking full advantage of the wonderful fall weather. I've always marveled at how clear the views across the Sound are, when the cooler weather moves in. <br><br>Across the road, a group of teens were making good use of the ball fields, while the younger set were having a great time exploring the marvelous Compo Beach playground.</h3> <p><img title="Compo ball fields" src="http://activerain.com/image_store/uploads/1/1/5/0/3/ar135076866030511.jpg" height="163" alt="Compo ball fields" width="215"></p> <h3>                                <img title="Compo Beach playground" src="http://activerain.com/image_store/uploads/4/9/7/4/0/ar135076873604794.jpg" height="171" alt="Compo Beach playground" width="230"> </h3> <h3>    </h3> <h3> </h3> <h3> </h3> <h3> </h3> <h3> <br>                                </h3> <h3>Just another day at the beach!!<br><br>                                                </h3> <div class="agent_signature"> <p><img title="Marilyn Katz" src="http://activerain.com/image_store/uploads/6/8/3/9/7/ar133658596379386.jpg" height="95" alt="Marilyn Katz" width="75"></p> <p>        <a href="https://plus.google.com/u/0/114577235852573843155/?rel=author%22">Marilyn Katz</a></p> <p>    <img title="Prudential CT Realty" src="http://activerain.com/image_store/uploads/1/0/4/2/0/ar136155216802401.jpg" height="36" alt="Prudential CT Realty" width="80">    <br>  203-429-1041<br>  Servings Westport, CT <br>  and the surrounding communities  </p> <p><a href="http://activerain.com/action/blogs_admin/subscribe?subscribed_agent_id=11926"><img src="http://activerain.comhttp://activerain.com/image_store/uploads/5/3/6/1/9/ar121529853991635.png" height="65" alt="Click to subscribe to my AR Blog" width="134"></a> <br><br> <a href="http://westportmoves.listingbook.com" title="free listing book account"><img src="http://www.listingbook.com/cgi-bin/controls/client_form/green.gif" height="40" alt="" width="120"></a> <br> Search Like an Agent</p> <p>Copyright © 2013 Marilyn Katz, All Rights Reserved</p> </div> Marilyn Katz - ABR, e-PRO - WestportCTProperties.com (Prudential Connecticut Realty) Sat, 20 Oct 2012 14:36:58 -0700 http://westportmoves.com/post/3485635/westport-ct-another-day-at-the-beach http://westportmoves.com/post/3386760/westport-library-s-annual-summer-book-sale-wraps-up Westport Library's Annual Summer Book Sale wraps up <p class="MsoNormal"><span>Hundreds of Westporters and out-of-town visitors took advantage of the glorious weekend weather to<br>attend the Westport Library’s Annual Summer Book Sale.  The <img title="Westport Library Book Sale" src="http://activerain.com/image_store/uploads/3/6/1/2/0/ar134316905402163.jpg" height="150" alt="Westport Library Book Sale" width="200"></span></p> <p class="MsoNormal"><span>sale featured more than 80,000 books, arranged in 40 categories </span></p> <p class="MsoNormal"><span>and displayed throughout large tents, set up on Jesup Green, in</span></p> <p class="MsoNormal"><span>front of the library. A special collection of  books were on display</span></p> <p class="MsoNormal"><span>inside the library, including a signed Andy Warhol edition, which <br>sold early Saturday morning, for $1,000. Also for sale were DVD's,<br>CD’s, videos and music cassettes.</span></p> <p class="MsoNormal"> </p> <p class="MsoNormal"><span>According to one book sale volunteer, attendance was up this year, likely due to the wonderful weather. When asked if the popularity of ebooks had an effect on sales, she said the only possible impact was in the hardcover, fiction category.</span></p> <p class="MsoNormal"> </p> <p class="MsoNormal"><span><span><span><span>Just a short distance from the book sale, shoppers also visited the Westport Downtown Merchants <br>Association's 39th Annual Fine Arts Festival. Visitors perused the art while strolling along the <br><img title="Westport Fine Arts Festival" src="http://activerain.com/image_store/uploads/2/8/5/2/6/ar134317122562582.jpg" height="168" alt="Westport Fine Arts Festival" width="216">       Saugatuck River, where the work of more than 100 artists <br>       was </span></span></span></span><span><span><span><span>only on display through Parker Harding Plaza and<br>       Gorham Island. Rounding out the festival was a food court,<br>       children's activity center and entertainment pavilion.<br><br>       This year, the Festival hours were extended from 10 A.M.   <br>       to 7 P.M., on Saturday and 10 A.M. to 5 P.M., on Sunday. <br>       The Book Sale ran through midday, Tuesday, with books <br>       offered at half price on Monday and free on Tuesday, with a<br>       suggested donation of $5 per bag.<br> </span></span></span></span> </p> <p class="MsoNormal"><span><span><span><span>     <br>      </span></span></span></span></p> <div class="agent_signature"> <p><img title="Marilyn Katz" src="http://activerain.com/image_store/uploads/6/8/3/9/7/ar133658596379386.jpg" height="95" alt="Marilyn Katz" width="75"></p> <p>        <a href="https://plus.google.com/u/0/114577235852573843155/?rel=author%22">Marilyn Katz</a></p> <p>    <img title="Prudential CT Realty" src="http://activerain.com/image_store/uploads/1/0/4/2/0/ar136155216802401.jpg" height="36" alt="Prudential CT Realty" width="80">    <br>  203-429-1041<br>  Servings Westport, CT <br>  and the surrounding communities  </p> <p><a href="http://activerain.com/action/blogs_admin/subscribe?subscribed_agent_id=11926"><img src="http://activerain.comhttp://activerain.com/image_store/uploads/5/3/6/1/9/ar121529853991635.png" height="65" alt="Click to subscribe to my AR Blog" width="134"></a> <br><br> <a href="http://westportmoves.listingbook.com" title="free listing book account"><img src="http://www.listingbook.com/cgi-bin/controls/client_form/green.gif" height="40" alt="" width="120"></a> <br> Search Like an Agent</p> <p>Copyright © 2013 Marilyn Katz, All Rights Reserved</p> </div> Marilyn Katz - ABR, e-PRO - WestportCTProperties.com (Prudential Connecticut Realty) Tue, 24 Jul 2012 16:18:07 -0700 http://westportmoves.com/post/3386760/westport-library-s-annual-summer-book-sale-wraps-up http://westportmoves.com/post/3350206/is-westport-inventory-out-of-synch-with-the-market- Is Westport Inventory out of Synch with the Market? <p class="MsoNormal"><span> </span></p> <p class="MsoNormal"><span>The year started on a high note, with Westport single-family home sales surging 44% in January, compared with January 2011. While February and March unit sales held even with 2011, March statistics showed improved activity in the upper end of the market. One-third of the homes sold, closed above $2 million. However, the promise of a strong spring market quickly disappeared, as each successive month posted disappointing sales results. Year-to-date (6/20/12,) single-family homes sales were down 11.5% vs. the corresponding period, a year ago. </span></p> <p class="MsoNormal"><span> </span></p> <p class="MsoNormal"><span>At the same time, inventory at the high end of the market continued to grow. This resulted in the current price distribution of homes available for sale, appearing to be out of synch with what the market will support.</span></p> <p class="MsoNormal"> </p> <p class="MsoNormal"><span><img title="Westport CT inventory vs home sales" src="http://activerain.com/image_store/uploads/4/2/4/4/2/ar134030339824424.gif" height="382" alt="Westport inventory vs home sales chart" width="500"></span></p> <p class="MsoNormal"> </p> <p class="MsoNormal"><span>Through the first half of the year, only one home sold above $5 million, closing at $5,250,000. Eighteen (18) homes are currently listed for $5 million or more. Based on the past twelve months, that would reflect six years of inventory in this price point. Expanding the high end to include homes priced at $3.5 million or more, just over twelve percent of the inventory is in that range, while only five percent of 2012 sales matched that price point. At the same time, twenty-two percent of new construction listings are priced above $3.5 million. Builders continue to build at the top end, but where are the buyers? Perhaps it's time to rethink the McMansion.</span></p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <div class="agent_signature"> <p><img title="Marilyn Katz" src="http://activerain.com/image_store/uploads/6/8/3/9/7/ar133658596379386.jpg" height="95" alt="Marilyn Katz" width="75"></p> <p>        <a href="https://plus.google.com/u/0/114577235852573843155/?rel=author%22">Marilyn Katz</a></p> <p>    <img title="Prudential CT Realty" src="http://activerain.com/image_store/uploads/1/0/4/2/0/ar136155216802401.jpg" height="36" alt="Prudential CT Realty" width="80">    <br>  203-429-1041<br>  Servings Westport, CT <br>  and the surrounding communities  </p> <p><a href="http://activerain.com/action/blogs_admin/subscribe?subscribed_agent_id=11926"><img src="http://activerain.comhttp://activerain.com/image_store/uploads/5/3/6/1/9/ar121529853991635.png" height="65" alt="Click to subscribe to my AR Blog" width="134"></a> <br><br> <a href="http://westportmoves.listingbook.com" title="free listing book account"><img src="http://www.listingbook.com/cgi-bin/controls/client_form/green.gif" height="40" alt="" width="120"></a> <br> Search Like an Agent</p> <p>Copyright © 2013 Marilyn Katz, All Rights Reserved</p> </div> Marilyn Katz - ABR, e-PRO - WestportCTProperties.com (Prudential Connecticut Realty) Thu, 21 Jun 2012 12:15:07 -0700 http://westportmoves.com/post/3350206/is-westport-inventory-out-of-synch-with-the-market- http://westportmoves.com/post/3255194/westport-shreds-it- Westport Shreds It! <p>At 9 A.M., Saturday, a steady stream of cars began arriving at the Westport/Weston Health District to participate in Westport's 4th annual Community Shred Day.  After showing<img title="Westport Community Shred Day 2012" src="http://activerain.com/image_store/uploads/9/8/5/7/6/ar133693681567589.jpg" height="121" alt="Westport Community Shred Day 2012" width="194">    <br> proof of residency, drivers were assisted by volunteers from                   <br> Staples High School's irreverently named SLOBs (Service League of Boys) <br>to unload up to eight bags or 3 boxes of personal, confidential and <br> sensitive papers, to be shredded. <br><br>Each car was charged $5, to help defray the cost of the <span>SECURE Eco Shred <br>truck</span>. As the noon closing time approached, approximately 130 residents <br>had taken advantage of the town's shredding service, according to Pat <br>Scully, Manager of the Selectman's Office. Also on hand, Town Clerk, Patty Strauss said Shred Day continued to be a popular, annual event and this year's participation represented an increase over the past two years. </p> <div class="agent_signature"> <p><img title="Marilyn Katz" src="http://activerain.com/image_store/uploads/6/8/3/9/7/ar133658596379386.jpg" height="95" alt="Marilyn Katz" width="75"></p> <p>        <a href="https://plus.google.com/u/0/114577235852573843155/?rel=author%22">Marilyn Katz</a></p> <p>    <img title="Prudential CT Realty" src="http://activerain.com/image_store/uploads/1/0/4/2/0/ar136155216802401.jpg" height="36" alt="Prudential CT Realty" width="80">    <br>  203-429-1041<br>  Servings Westport, CT <br>  and the surrounding communities  </p> <p><a href="http://activerain.com/action/blogs_admin/subscribe?subscribed_agent_id=11926"><img src="http://activerain.comhttp://activerain.com/image_store/uploads/5/3/6/1/9/ar121529853991635.png" height="65" alt="Click to subscribe to my AR Blog" width="134"></a> <br><br> <a href="http://westportmoves.listingbook.com" title="free listing book account"><img src="http://www.listingbook.com/cgi-bin/controls/client_form/green.gif" height="40" alt="" width="120"></a> <br> Search Like an Agent</p> <p>Copyright © 2013 Marilyn Katz, All Rights Reserved</p> </div> Marilyn Katz - ABR, e-PRO - WestportCTProperties.com (Prudential Connecticut Realty) Sun, 13 May 2012 12:29:02 -0700 http://westportmoves.com/post/3255194/westport-shreds-it- http://westportmoves.com/post/3250791/terrain-opens-in-westport-ct Terrain Opens in Westport, CT <p>On Friday, Wesporters flocked to the much anticipated opening, of Terrain, a super-sized home-decor and garden center. Following a final few weeks of intense activity, the center opened, as promised, in time for <br>Mother's Day Weekend.  <img title="Terrain nursery and greenhouse" src="http://activerain.com/image_store/uploads/3/6/8/5/2/ar133676860825863.jpg" height="162" alt="Terrain nursery and greenhouse" width="226"><br>                  <br><br>                  In addition to the large outdoor nursery <br>                  and greenhouse, the store features a<br>                  potpourri of indoor plants, decorative <br>                  containers, hand-made furniture, kitchen<br>                  and home accessories, beauty lotions, <br>                  jewelry, and edibles. Terrain also <br>                  offers landscape design services.</p> <p>                 <br><img title="Terrain home decor" src="http://activerain.com/image_store/uploads/7/7/9/2/9/ar133676893792977.jpg" height="150" alt="Terrain home decor" width="200"><br>                                      </p> <p>     Also featured, inside the store, is a coffee<br>     bar, offering a wide choice of beverages and baked <br>     goods and a garden cafe, serving lunch and dinner.</p> <p>     <img title="Terrain coffee bar" src="http://activerain.com/image_store/uploads/7/9/9/1/1/ar133676948911997.jpg" height="150" alt="Terrain coffee bar" width="200"></p> <p>Terrain's entry into Westport brought an immediate improvement to the landscape along the Post Road. <br>The location was the previous home of a car dealership, Curran Cadillac, which closed in 2009. The Westport opening marks the second location for Terrain. The flagship store is located in Glen Mills, Pa. Terrain is a division of Urban Outfitters, Inc, which also owns Anthropologie, another Westport store.</p> <div class="agent_signature"> <p><img title="Marilyn Katz" src="http://activerain.com/image_store/uploads/6/8/3/9/7/ar133658596379386.jpg" height="95" alt="Marilyn Katz" width="75"></p> <p>        <a href="https://plus.google.com/u/0/114577235852573843155/?rel=author%22">Marilyn Katz</a></p> <p>    <img title="Prudential CT Realty" src="http://activerain.com/image_store/uploads/1/0/4/2/0/ar136155216802401.jpg" height="36" alt="Prudential CT Realty" width="80">    <br>  203-429-1041<br>  Servings Westport, CT <br>  and the surrounding communities  </p> <p><a href="http://activerain.com/action/blogs_admin/subscribe?subscribed_agent_id=11926"><img src="http://activerain.comhttp://activerain.com/image_store/uploads/5/3/6/1/9/ar121529853991635.png" height="65" alt="Click to subscribe to my AR Blog" width="134"></a> <br><br> <a href="http://westportmoves.listingbook.com" title="free listing book account"><img src="http://www.listingbook.com/cgi-bin/controls/client_form/green.gif" height="40" alt="" width="120"></a> <br> Search Like an Agent</p> <p>Copyright © 2013 Marilyn Katz, All Rights Reserved</p> </div> Marilyn Katz - ABR, e-PRO - WestportCTProperties.com (Prudential Connecticut Realty) Fri, 11 May 2012 14:24:46 -0700 http://westportmoves.com/post/3250791/terrain-opens-in-westport-ct http://westportmoves.com/post/3229988/westport-ct-commuter-shuttle-routes-in-jeopardy Westport CT: Commuter Shuttle Routes in Jeopardy <p class="MsoNormal"> </p> <p class="MsoNormal"><span>On Monday, May 7, the Representative Town Meeting (RTM) will vote on whether to override a $60,000 cut in funds, in order to fully restore Westport’s Transit District budget. A 70 percent vote is needed in order to override the Board of Finance cuts. What’s at stake is the future of the <a href="http://www.norwalktransit.com/westport_systemmap.htm" title="Westport commuter shuttle routes">commuter shuttle routes</a> </span><span>serving Westport’s Greens Farms and Saugatuck train stations. </span></p> <p class="MsoNormal"><span>The Board of Finance initially slashed $113,753,     <img title="Westport train station" src="http://activerain.com/image_store/uploads/2/0/7/0/7/ar133617749670702.jpg" height="300" alt="Westport train station" width="400"><br></span><span>or nearly half of next year’s transit budget, allowing just one commuter route to remain, running between the Imperial Avenue parking lot and the  <br>Saugatuck (Westport Metro-North) train station. On April 11, the board voted to restore $53,753 on the condition that ways to make the system more efficient are instituted over the next six months. </span></p> <p class="MsoNormal"><span><span>Westport is a popular town for New York commuters. According to the Westport CERC (Connecticut Economic Resource Center) Town Profile for 2011, more than 2,200 or nearly 20 percent of the town’s employed labor force commutes to Manhattan. Another 10 percent are commuters to Stamford and Greenwich, albeit many of them choose to drive. </span></span></p> <p class="MsoNormal"><span> </span></p> <p class="MsoNormal"><span><span><span> </span>High on the list of questions asked by potential home buyers who commute to New York City is, "how long will it take to get a railroad parking permit?" Upon hearing that there is a four to five year wait, they want to know what other options are available for getting to or parking at the train station. The options for parking at the station are not too encouraging. There are eleven town parking lots, eight at Saugatuck and three at Greens Farms, with a total of 1781 spaces. Of these, only 289 are $5/day, daily parking spaces and they are usually filled during the earliest commuting times. There are also private lots at the Westport/Saugatuck station but the cost becomes prohibitive if used over an extended period of time. </span></span></p> <p class="MsoNormal"><span> </span></p> <p class="MsoNormal"><span>What alleviates the concern about parking is hearing that Westport has a commuter shuttle bus, with routes throughout the town. Clearly, it makes Westport more attractive to the commuting buyer. </span></p> <p class="MsoNormal"><span> </span></p> <p class="MsoNormal"><span>Although the commuter shuttle service is used by a small percentage of Westport residents, the loss of this town amenity could affect all homeowners. Making the town less attractive to commuters might negatively impact Westport home values. Westporters are encouraged to contact the RTM at </span><a href="mailto:RTMMailingList@westportct.gov"><span>RTMMailingList@westportct.gov</span></a><span> and ask them to restore the full transit budget.</span></p> <p> </p> <p> </p> <div class="agent_signature"> <p><img title="Marilyn Katz" src="http://activerain.com/image_store/uploads/6/8/3/9/7/ar133658596379386.jpg" height="95" alt="Marilyn Katz" width="75"></p> <p>        <a href="https://plus.google.com/u/0/114577235852573843155/?rel=author%22">Marilyn Katz</a></p> <p>    <img title="Prudential CT Realty" src="http://activerain.com/image_store/uploads/1/0/4/2/0/ar136155216802401.jpg" height="36" alt="Prudential CT Realty" width="80">    <br>  203-429-1041<br>  Servings Westport, CT <br>  and the surrounding communities  </p> <p><a href="http://activerain.com/action/blogs_admin/subscribe?subscribed_agent_id=11926"><img src="http://activerain.comhttp://activerain.com/image_store/uploads/5/3/6/1/9/ar121529853991635.png" height="65" alt="Click to subscribe to my AR Blog" width="134"></a> <br><br> <a href="http://westportmoves.listingbook.com" title="free listing book account"><img src="http://www.listingbook.com/cgi-bin/controls/client_form/green.gif" height="40" alt="" width="120"></a> <br> Search Like an Agent</p> <p>Copyright © 2013 Marilyn Katz, All Rights Reserved</p> </div> Marilyn Katz - ABR, e-PRO - WestportCTProperties.com (Prudential Connecticut Realty) Fri, 04 May 2012 17:33:55 -0700 http://westportmoves.com/post/3229988/westport-ct-commuter-shuttle-routes-in-jeopardy http://westportmoves.com/post/3196058/westport-ct-march-2012-home-sales Westport, CT: March 2012 Home Sales <p>What a difference a year makes. In March 2011, 20 single-family homes sold in Westport, CT. The same number sold in March 2012. While monthly unit sales remained the same, median and average sale price soared, up 31% and 32%, respectively. In March 2011, the median sold price was $955,500. This March, the median sold price rose over $400,000 to $1,388,750.</p> <p>Before we get too excited, and jump to precipitous conclusions, lets examine the statistics closer.  Looking at the actual sales data, it is apparent that the rise in sale price is not an indication of increasing home values, but rather a change in the segment of the market that is selling.</p> <p>In March 2011, half of the homes sold for less than $1,000,000 and only two sold above $2,000,000. Contrast that with March 2012, with 6 selling under $1 million and 7 selling for $2 million or more. Examining further, last year, five of the sold homes had 5 or more bedrooms, and seven had 10 or more rooms. This March, there were twelve homes sold in these two categories. </p> <strong><span> </span></strong> <strong><span>    March 2011</span></strong> <strong><span>    March 2012</span></strong> <strong><span>     5+ Bedrooms</span></strong> <span>             5</span> <span>           12               </span> <strong><span>    10+ Rooms</span></strong> <span>             7</span> <span>           12</span> <p>Comparing apples to apples, prices still appear to be softening. On a positive note, however, confidence seems to be returning to the market, with larger, more expensive homes selling.</p> <p> </p> <div class="shape"> </div> <div class="agent_signature"> <p><img title="Marilyn Katz" src="http://activerain.com/image_store/uploads/6/8/3/9/7/ar133658596379386.jpg" height="95" alt="Marilyn Katz" width="75"></p> <p>        <a href="https://plus.google.com/u/0/114577235852573843155/?rel=author%22">Marilyn Katz</a></p> <p>    <img title="Prudential CT Realty" src="http://activerain.com/image_store/uploads/1/0/4/2/0/ar136155216802401.jpg" height="36" alt="Prudential CT Realty" width="80">    <br>  203-429-1041<br>  Servings Westport, CT <br>  and the surrounding communities  </p> <p><a href="http://activerain.com/action/blogs_admin/subscribe?subscribed_agent_id=11926"><img src="http://activerain.comhttp://activerain.com/image_store/uploads/5/3/6/1/9/ar121529853991635.png" height="65" alt="Click to subscribe to my AR Blog" width="134"></a> <br><br> <a href="http://westportmoves.listingbook.com" title="free listing book account"><img src="http://www.listingbook.com/cgi-bin/controls/client_form/green.gif" height="40" alt="" width="120"></a> <br> Search Like an Agent</p> <p>Copyright © 2013 Marilyn Katz, All Rights Reserved</p> </div> Marilyn Katz - ABR, e-PRO - WestportCTProperties.com (Prudential Connecticut Realty) Wed, 25 Apr 2012 09:40:09 -0700 http://westportmoves.com/post/3196058/westport-ct-march-2012-home-sales http://westportmoves.com/post/3147496/connecticut-realtors-at-the-capitol- Connecticut REALTORS® at the Capitol <p>Last Thursday (April 5, 2012,) approximately 600 REALTORS® descended on Hartford, CT for the annual REALTORS® at the Capitol day. The morning began with a general assembly session at the Bushnell auditorium, where CAR (Connecticut Association of REALTORS®) leaders presented the issues concerning some of the current proposed legislation and how it impacts the real estate market for agents, home buyers and sellers.</p> <p>The gathering then moved across the street to the <img title="REALTORS&reg; at the Capitol " src="http://activerain.com/image_store/uploads/2/7/1/1/2/ar133408761121172.jpg" height="150" alt="REALTORS&reg; at the Capitol " width="200">Legislation Office Building, where REALTORS® broke into smaller groups to meet with the State Senators and House Representatives that represent their specific regions. During the Q&A session that I attended, one of the legislators went a bit off topic and pronounced how burdensome the Federal Health Care Bill is, because it will tax sellers 3.8% on the sale of their homes, to fund the bill.</p> <p>That blanket statement was immediately corrected by some of the <img title="CT Legislators at REALTORS&reg; at the Capitol " src="http://activerain.com/image_store/uploads/4/3/7/5/6/ar133408785465734.jpg" height="150" alt="CT Legislators at REALTORS&reg; at the Capitol " width="200">attendees. However, it was troubling to realize that if an elected official had not made the effort to find out the details of the tax, how much more of the public was also misinformed. Therefore, although the mistatement has been debunked many times before, I thought it was worth clarifying the details of the tax provision, one more time.</p> <p><span><span>Beginning in 2013, the 3.8% tax will apply to singles earning $200,000+ and married couples earning $250,000+.  The tax is only on the <strong><span>profit, </span></strong>above $250,000 (singles) and $500,000 (married.)  </span></span><span><span>Therefore, the vast majority of home sellers are not affected by the  tax, and that includes high income individuals.  </span></span></p> <p class="MsoNormal"><span><span>For example, a married couple earning $800,000 (certainly high income and in the “subject to” category) sells their primary residence for $2 million. The profit on the sale of the home is $400,000. Amount subject to 3.8% tax = <strong><span>0  </span></strong></span></span></p> <p class="MsoNormal"><span><span>Assuming their profit was $550,000, they would be allowed a $500,000 exclusion and would have to pay 3.8% on $50,000 or $1,900.</span></span></p> <p> </p> <p> </p> <div class="agent_signature"> <p><img title="Marilyn Katz" src="http://activerain.com/image_store/uploads/6/8/3/9/7/ar133658596379386.jpg" height="95" alt="Marilyn Katz" width="75"></p> <p>        <a href="https://plus.google.com/u/0/114577235852573843155/?rel=author%22">Marilyn Katz</a></p> <p>    <img title="Prudential CT Realty" src="http://activerain.com/image_store/uploads/1/0/4/2/0/ar136155216802401.jpg" height="36" alt="Prudential CT Realty" width="80">    <br>  203-429-1041<br>  Servings Westport, CT <br>  and the surrounding communities  </p> <p><a href="http://activerain.com/action/blogs_admin/subscribe?subscribed_agent_id=11926"><img src="http://activerain.comhttp://activerain.com/image_store/uploads/5/3/6/1/9/ar121529853991635.png" height="65" alt="Click to subscribe to my AR Blog" width="134"></a> <br><br> <a href="http://westportmoves.listingbook.com" title="free listing book account"><img src="http://www.listingbook.com/cgi-bin/controls/client_form/green.gif" height="40" alt="" width="120"></a> <br> Search Like an Agent</p> <p>Copyright © 2013 Marilyn Katz, All Rights Reserved</p> </div> Marilyn Katz - ABR, e-PRO - WestportCTProperties.com (Prudential Connecticut Realty) Tue, 10 Apr 2012 13:03:08 -0700 http://westportmoves.com/post/3147496/connecticut-realtors-at-the-capitol- http://westportmoves.com/post/2752462/westport-ct-market-report-single-family-home-sale-trends Westport CT Market Report- Single-Family Home Sale Trends <p>As we begin the new year, the crystal balls have come out and there have been a wide range of predictions for how the housing market will perform in 2012. I have read that this year we will see a minor recovery, that pent up demand will drive a major recovery, that prices will fall through the first half of the year but pick up, starting in June, that prices won't begin to rebound until 2013, and so on. You get the picture. </p> <p>While overall forecasts may be useful in determining the state of the economic recovery, they are not really relevant for the home buyer or seller. The numbers that should be important to them are the statistics for their local market.</p> <p>According to NAR, 2007 existing home sales posted the largest drop in 25 years, while in Westport, this segment showed a 6% gain. The precipitous drop did not hit Westport until 2008, when a third fewer single-family homes (existing and new construction) sold, compared with the previous year. By 2009, only half as many homes sold, than in 2004. The downtrend was not as steep for prices.  Median sale price peaked in 2007, at $1,400,000 and only showed a 4% decline, the following year. By 2009, however, median sale price fell to $1,188,500, below 2005 levels. </p> <p>The trend line for unit and dollar sales began to diverge in 2010. That year, the number of Westport single-family homes sold surged 40% vs. 2009, although remaining considerably below the highs posted in the first half of the decade.  2011 sales were relatively flat, with only a 2% decline.  At the same time, median sale price continued to trend down.</p> <p><img title="Westport CT Median Sold Price 2000 through 2011" src="http://activerain.com/image_store/uploads/9/2/1/4/5/ar132736106954129.gif" height="328" alt="Westport CT Median Sold Price 2000 through 2011" width="500"></p> <p>The median sale price for a single-family home was $1,085,625, in 2011, roughly equal to the median selling price in 2004. At this point, there is no evidence that prices are rebounding, any time soon.</p> <p>This data is compiled from the Consolidated Multiple Listing Service and may not always be accurate. No warranty is made as to the accuracy of this information. You should verify any information that is important to your buying.</p> <p> </p> <div class="agent_signature"> <p><img title="Marilyn Katz" src="http://activerain.com/image_store/uploads/6/8/3/9/7/ar133658596379386.jpg" height="95" alt="Marilyn Katz" width="75"></p> <p>        <a href="https://plus.google.com/u/0/114577235852573843155/?rel=author%22">Marilyn Katz</a></p> <p>    <img title="Prudential CT Realty" src="http://activerain.com/image_store/uploads/1/0/4/2/0/ar136155216802401.jpg" height="36" alt="Prudential CT Realty" width="80">    <br>  203-429-1041<br>  Servings Westport, CT <br>  and the surrounding communities  </p> <p><a href="http://activerain.com/action/blogs_admin/subscribe?subscribed_agent_id=11926"><img src="http://activerain.comhttp://activerain.com/image_store/uploads/5/3/6/1/9/ar121529853991635.png" height="65" alt="Click to subscribe to my AR Blog" width="134"></a> <br><br> <a href="http://westportmoves.listingbook.com" title="free listing book account"><img src="http://www.listingbook.com/cgi-bin/controls/client_form/green.gif" height="40" alt="" width="120"></a> <br> Search Like an Agent</p> <p>Copyright © 2013 Marilyn Katz, All Rights Reserved</p> </div> Marilyn Katz - ABR, e-PRO - WestportCTProperties.com (Prudential Connecticut Realty) Tue, 24 Jan 2012 12:39:02 -0800 http://westportmoves.com/post/2752462/westport-ct-market-report-single-family-home-sale-trends http://westportmoves.com/post/2725562/westport-ct-market-report-a-buyer-s-market-or-not- Westport, CT Market Report - A buyer's market....or not! <p>One method for assessing the activity of the housing market is by calculating the absorption rate. The rate is determined by dividing the current number of active listings by the average number of homes selling each month. The resulting figure shows the number of months it would take to sell the existing inventory of active listings. A normal or balanced market would have a five to six month supply of homes. A seller's market, reflecting a limited number of homes for sale, would have a one to four month supply. A supply time of seven months or more would indicate a buyer's market. </p> <p><strong>Supply Time           Market Description</strong><br>1 to 4 months           Seller's Market<br>5 to 6 months           Normal Market<br>7 months or more     Buyer's Market</p> <p>Using the preceding twelve months as a determinant for calculating average monthly sales, the current absorption rate for Westport single-family homes is 8.8 months. According to the above chart, this would indicate that Westport is currently in a Buyer's Market. However, as the case with most averages and generalizations, they rarely tell the whole story.</p> <p><img title="Westport CT Absorption Rates" src="http://activerain.com/image_store/uploads/9/7/6/6/7/ar132675633876679.gif" height="356" alt="Westport CT Absorption Rates" width="500"></p> <p>Analyzing the data by price point gives a clearer picture of market activity. The overall absorption rate for homes listed at $1 million or less is 4.6 months. While a few price ranges in this segment have supply times above a normal market, there is generally limited inventory, creating a seller's market at the lower end. At the same time, there is an abundance of inventory for homes in the higher price points. There is a two and a half year supply of homes selling at $2.5 million or more. The absorption rate for listings priced $4 million or more is thirty-nine (39) months, or over three years. </p> <p> </p> <p>This data is compiled from the Consolidated Multiple Listing Service and may not always be accurate. No warranty is made as to the accuracy of this information. You should verify any information that is important to your buying.</p> <p> </p> <div class="agent_signature"> <p><img title="Marilyn Katz" src="http://activerain.com/image_store/uploads/6/8/3/9/7/ar133658596379386.jpg" height="95" alt="Marilyn Katz" width="75"></p> <p>        <a href="https://plus.google.com/u/0/114577235852573843155/?rel=author%22">Marilyn Katz</a></p> <p>    <img title="Prudential CT Realty" src="http://activerain.com/image_store/uploads/1/0/4/2/0/ar136155216802401.jpg" height="36" alt="Prudential CT Realty" width="80">    <br>  203-429-1041<br>  Servings Westport, CT <br>  and the surrounding communities  </p> <p><a href="http://activerain.com/action/blogs_admin/subscribe?subscribed_agent_id=11926"><img src="http://activerain.comhttp://activerain.com/image_store/uploads/5/3/6/1/9/ar121529853991635.png" height="65" alt="Click to subscribe to my AR Blog" width="134"></a> <br><br> <a href="http://westportmoves.listingbook.com" title="free listing book account"><img src="http://www.listingbook.com/cgi-bin/controls/client_form/green.gif" height="40" alt="" width="120"></a> <br> Search Like an Agent</p> <p>Copyright © 2013 Marilyn Katz, All Rights Reserved</p> </div> Marilyn Katz - ABR, e-PRO - WestportCTProperties.com (Prudential Connecticut Realty) Mon, 16 Jan 2012 18:41:10 -0800 http://westportmoves.com/post/2725562/westport-ct-market-report-a-buyer-s-market-or-not- http://westportmoves.com/post/2716453/westport-ct-2011-housing-market-report Westport, CT - 2011 Housing Market Report <p>The Westport housing market ended on a ho-hum note. On an annual basis, single-family home sales were off two percent (2%) compared with 2010. While unit sales remained comfortably ahead of 2008 and 2009, they were well off the highs posted in the previous decade.</p> <p><img title="Westport CT Single-Family Homes Sold 2000-2011" src="http://activerain.com/image_store/uploads/4/1/9/3/6/ar132647638163914.gif" height="338" alt="Westport CT Single-Family Homes Sold 2000-2011" width="592"></p> <p>Prices continued to soften. The median sold price of a single-family home, for 2011, was $1,085,625.  This represented a five percent (5%) decline from the 2010 median sold price of $1,145,000. The bulk of the sales were for homes selling between one and two million dollars. This segment represented forty percent (40%) of total units sold, for both years. However, the shape of the market changed at the extreme ends. Only half as many homes sold for $4 million or more, in 2011, compared with a year ago (7 vs. 14.) At the same time, two and a half times as many homes sold under $400,000, this year.</p> <p><img title="Westport CT Single-Family Homes Sold 2000-2011" src="http://activerain.com/image_store/uploads/8/3/4/5/6/ar132647727365438.gif" height="347" alt="Westport CT Single-Family Home Sales 2010 vs 2011" width="500"></p> <p>Despite devastating snowstorms that brought activity to a halt, previously negotiated transactions managed to close during the first quarter of 2011 and units sales of single-family homes remained flat compared with 1Q10. Pent up demand took hold during the second quarter of the year. Units sold surged thirty-two percent (32%) vs the comparable period, a year ago. The second half of the year was a disappointment. Seventeen percent (17%) fewer homes sold during the third quarter, while fourth quarter totals fell twenty-two percent (22%.) As a percentage of total single-family homes sold, the fourth quarter of 2011 posted the smallest contribution to annual sales since 2005.</p> <p><img title="Westport CT Single-Family Home Sales by Quarter" src="http://activerain.com/image_store/uploads/2/7/6/2/9/ar132647821292672.gif" height="285" alt="Westport CT Single-Family Home Sales by Quarter" width="500"></p> <p><strong>Single-Family Home Sales - 2011 Statistics</strong></p> <p><strong>Unit sold - 344<br>Average Sold Price - $1,338,229<br>Median Sold Price - $1,085,625<br>Highest Sold Price - $6,300,000<br>Lowest Sold Price - $215,000<br>Average Days on Market - 105</strong></p> <p>This data is compiled from the Consolidated Multiple Listing Service and may not always be accurate. No warranty is made as to the accuracy of this information. You should verify any information that is important to your buying.<br><br></p> <p> </p> <div class="agent_signature"> <p><img title="Marilyn Katz" src="http://activerain.com/image_store/uploads/6/8/3/9/7/ar133658596379386.jpg" height="95" alt="Marilyn Katz" width="75"></p> <p>        <a href="https://plus.google.com/u/0/114577235852573843155/?rel=author%22">Marilyn Katz</a></p> <p>    <img title="Prudential CT Realty" src="http://activerain.com/image_store/uploads/1/0/4/2/0/ar136155216802401.jpg" height="36" alt="Prudential CT Realty" width="80">    <br>  203-429-1041<br>  Servings Westport, CT <br>  and the surrounding communities  </p> <p><a href="http://activerain.com/action/blogs_admin/subscribe?subscribed_agent_id=11926"><img src="http://activerain.comhttp://activerain.com/image_store/uploads/5/3/6/1/9/ar121529853991635.png" height="65" alt="Click to subscribe to my AR Blog" width="134"></a> <br><br> <a href="http://westportmoves.listingbook.com" title="free listing book account"><img src="http://www.listingbook.com/cgi-bin/controls/client_form/green.gif" height="40" alt="" width="120"></a> <br> Search Like an Agent</p> <p>Copyright © 2013 Marilyn Katz, All Rights Reserved</p> </div> Marilyn Katz - ABR, e-PRO - WestportCTProperties.com (Prudential Connecticut Realty) Fri, 13 Jan 2012 13:29:03 -0800 http://westportmoves.com/post/2716453/westport-ct-2011-housing-market-report