Ides of March Update 2010
We are continuing to get a clearer picture of this 2010 Spring Market. Well-priced listings are selling well below average market times, and there are occasional multiple offer situations such as one recently in Weston, which will sell for nearly $50,000 over its asking price.
A quick overview of the situation in Westport, Weston, Wilton and Fairfield shows that the monthly supply of inventory in all of these towns is down dramatically, with a decrease of 65.6% in Westport. There has been a slight increase in new listings, but this is due to the fact that the likelihood a home selling has increased.
The Closed sales year to date compared to 2009 at this same time have also increased in a very
impressive way. Westport is up 100%, Weston +133.3%, Wilton +85.7%, and Fairfield +110.8%.
In addition, the most recent activity represented by homes that have gone to contract has also made a steady upswing. Figures for the towns are: Westport +187%, Weston +337.5%, Wilton+184.6%, and Fairfield +106.5%.
The large jumps in both Weston and Wilton are somewhat reflective of lower sales in those towns in 2009.
The number of days on market has also decreased in all 4 towns, especially in Westport with a decrease of 45.6%, nearly halving the time it is taking to sell a home. The higher end of the market has made some impressive steps in Westport, while Weston, Wilton and Fairfield have seen much slower activity in the higher end.
A quick overview of the situation in Westport, Weston, Wilton and Fairfield shows that the monthly supply of inventory in all of these towns is down dramatically, with a decrease of 65.6% in Westport. There has been a slight increase in new listings, but this is due to the fact that the likelihood a home selling has increased.
The Closed sales year to date compared to 2009 at this same time have also increased in a very
impressive way. Westport is up 100%, Weston +133.3%, Wilton +85.7%, and Fairfield +110.8%.
In addition, the most recent activity represented by homes that have gone to contract has also made a steady upswing. Figures for the towns are: Westport +187%, Weston +337.5%, Wilton+184.6%, and Fairfield +106.5%.
The large jumps in both Weston and Wilton are somewhat reflective of lower sales in those towns in 2009.
The number of days on market has also decreased in all 4 towns, especially in Westport with a decrease of 45.6%, nearly halving the time it is taking to sell a home. The higher end of the market has made some impressive steps in Westport, while Weston, Wilton and Fairfield have seen much slower activity in the higher end.
posted by Rob Grodman at 3:04 PM
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