2017 Update through November 2017

                                 Westport Totals Provide Mixed Picture of Success

2017 single family home sales are nearly complete.  Comparing year to date totals with 2016 equivalents, real estate activity continued throughout the course of the year, including a more active 4^th quarter in 2017 than the previous year..  Total single family home sales stand at 391 compared to 329 during the same time period in 2016, a 15% increase. 14 additional homes are also under contract.   2017’s median price of $1,325,000 represents a 2.8% increase over the $1,289,000 median price at this time last year.

Greens Farms saw a drop of single family homes from 45 in 2016 to 36 in 2017; but saw a median price increase from $1,447,500 to $1,512,500. 

Compo Beach continued to see price and volume increases, with 39 homes sold in 2017, an increase of about 14%, with the median price rising from $1,555,000 to $1,647,500.

Saugatuck Shores & Island saw a solid single family home sale’s increase from 12 in 2017 to 17 in 2017.  The median price lagged slightly from $1,132,000 to $1,167,500.

Town wide, new construction sales increased from 50 in 2016 to 67 in 2017.  

Mid-Fairfield Sales Through Labor Day 2017

Our Mid-Fairfield area, which includes Westport, Weston, Wilton and Fairfield has seen remarkably steady sales in 2017 compared to last year.

Westport, which tends to be locomotive for sales in the 4 towns has had the best year statistically, with 308 sales thus far this year compared to 276 sales in 2016 through Labor day.  The median price has gone up incrementally from $1,289,000 in 2016 to $1,325,000 currently. Approximately 1/3 (96) of the 2017 sales have been under $1 million.  The highest sales price recorded in 2017 has been at 75 Beachside Ave., $6,575,000.  There were 53 new home sales with a median price of $2,115,000.

Weston has been a study in regularity.  2017 sales have totaled 120 compared to 118 in 2016.  The 2017 median price dipped a little over 1% to $789,000. There have been 31 sales over $1 million in Weston, with 4 of those over $2,000,000.  There have been 7 new homes sold year-to-date in Weston.

Wilton too is a near reflection of its neighbor. The 164 sales year to date compares to 163 in 2016, and the median prices have dropped from $808,000 to $765,000, a 5% difference.  34 of these sales have been over $1 million and only 3 have been over $2 million.

Fairfield, with the largest population of the four towns, continues to sell at a steady pace: 573 sales in 2017 compared to 571 in 2016. The median price has inched up from $590,000 in 2016 to $599,000 this year.  There have been 59 new home sales in 2017 with a median price of $1,045,000 compared to 46 last year with a median price of $1,061,300.  The highest sales price in Fairfield in 2017 was at 375 Sasco Hill road  which sold for $3,637,500.

For those who may be looking to purchase and wish to see Rob's Picks of the Week,
email westportagent@hotmail.com and indicate town and price range and I will get back
to you with the home(s) that I feel represent the best value on the market.

Westport Coastal Real Estate Activity

We had previously looked at Greens Farms and Compo Beach real estate. Henceforth we will be including the Saugatuck Shores area to include all of the coastline in Westport.
Coastal activity in the Compo Beach area and Saugatuck Shores has increased from 2016 levels. There have been 29 sales in the Compo Beach area as of the writing of this article, with a median sales price of $2,000,000, compared to 23 sales in 2016 with a median price $2,125,000. There are 5 additional properties in the Compo Beach area that are under contract, and 46 active listings with a median list price of $2,292,000.
The Saugatuck Shores area has had 12 sold properties year to date with a median price of $1,035,000. This compares favorably to 6 properties sold at this time last year with a median price of $1,132,000. There are 2 additional properties under contract and 20 active listings with a median list price of $2,495,000.
In Greens Farms, including both coastal and inland properties, there have been 22 sales this year for a median sales price of $1,707,000, and 8 additional properties under contract. Last year’s sales at this time of year totaled 27 with a median price of $1,585,000. There are currently 40 active listings in Greens Farms with a median list price of $1,999,000.

2017 Early signs

Early signs point to a positive start in 2017 for the Westport real estate market. There are currently only 258 active single family listings in Westport, with 52 under contract, listed from $299,000-$3,998,000. The median price of those under contract now stands at $1,595,000. 17 of those are listed under $1 million, 24 are listed between $1 million-$1,999,000, and 11 are listed over $ 2 million.
There are currently 42 active listings in the Greens Farms area, listed between $619,000-$32,000,000 although only 7 of these are listed at below $1 million. There are currently 3 properties under contract ranging in price from $1,450,000-$1,899,000.
Compo Beach has only 25 active listings, ranging in price from $1,300,000-$5,499,000, but has 5 properties currently under contract.
There are currently 7 new homes being built or completed in Greens Farms, ranging in price from $1,299,000 (10 Mills street) to $3,995,000 (66 Turkey Hill Road South). In the Compo Beach area there are currently 9 new homes being proposed, in the process of being built ,or completed. The least expensive is $1,399,000 (4 Vani Court) and the most expensive listed at $5,499,000 (1 Yankee Hill Road).
House below is located at 18 Church Street South listed at $ 1,550,000