A Closer Look at the Numbers

For those looking for a more detailed of the outlay of the 361 single family homes that sold in Westport during 2012, here is the breakdown by area-I used the elementary schools as criteria since different the different marketing areas that are provided by the Multiple Listing Service do not take into account the entire town. Pricepoint Greens Farms Saugatuck Long Lots Coleytown Kingshighway $0-500,000 2 4 4 3 5 $500,000-$1m 18 28 27 32 15 $1m-1.5m 16 20 21 18 13 $1.5-2m 15 15 19 8 8 $2m+ 23 4 20 13 6 TOTALS 74 75 91 74 47 Total sales were divided somewhat proportionately, with the largest elementary school, Long Lots, having the most sales with 91. Greens Farms and Long Lots had the most homes sold over $2 million. A majority of the sales in all areas were over $1 million.

2012 End of Year Newsletter

2012 Mid-Fairfield Single family home Statics Westport Weston Wilton Fairfield Norwalk Homes currently bindered 14 11 15 24 41 Homes Under Contract 41 9 21 51 52 Sold 2012 361 135 219 609 503 Marketing time 157 days 114 days 157 days 110 days 118 days Sold 2011 347 118 163 595 439 Median Sales Price '12 1,205,000 750,000 722,500 548,750 401,500 Median Sales Price '11 1,078,125 750,000 825,000 547,000 410,000 Condo sales l 2012 30 N/A 18 75 209 Condo sales 2011 36 N/A 17 79 195 Month's Supply Inventory December 2012 7.5 9.4 6.6 7 5.9 Month's Supply Inventory December 2011 18.4 19.8 18.1 20.4 19 Percent change -65.7% 52.5% -63.5% -65.7% -76% Change in Median Sales Price +11.8 % 0% -13.5% -.1% -3% Change in Sales Volume +4% +14% +34% +2% +14.5% 2012 Mid-Fairfield results showed signs of improvements in all towns. Of note are Wilton and Weston which each saw sizable increases (28% and 22%) in homes sold. Fairfield also had a healthy gain of 13%. Westport’s volume was up a more modest 5%, but saw a gain in the median sales price, the only town in our group to do so. Inventory was down in the final months of the year in all towns. Looking at the bigger picture, the latest Case-Schiller housing price index indicated a median price increase nationwide of 4.3% from the previous year. The survey of the New York metropolitan area index showed a slight decline of 2.3% in October (year over year). Most recent activity (properties under binder or contract) points to increased activity in the 4th quarter. Early signs indicate that 2013 will be an active spring market. A lack of quality inventory in some price ranges, along with pent up demand, may lead to multiple offer situations, which we also saw in 2012. To search for properties and local information please go to my website at www.RobMakesItSold.com, or email me at westportagent@hotmail.com to get my E-Newsletters including statistical updates, home maintenance tips, and Real Estate news.