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Wednesday, January 08, 2014

Real Estate Report: 2013 Was a Record Year

By Judy Szablak

With 465 single-family home sales reported in Westport in 2013, the year certainly held the promise that we thought it would, and then some. Image
This home at 391 Riverside Ave. is listed at $2,995,000. (CLICK TO ENLARGE) Photo courtesy of The Riverside Realty Group-Bross/Chingas/Bross

We have not come near that many closed units in the past decade since 2005, when we had 487 sales. Our peak was in 2004, with 501 sales, and our low point was in 2009 with just 250 sales reported.

The year 2013 was a record-breaking one for overall volume with a total of more than $715 million as reported through our Multiple Listing Service. This also represents the highest volume in the past decade and beyond, and incidentally exceeded 2005 by more than $20 million.

Average closed price for last year was $1,535,047, and has increased steadily since 2009. Our averages in 2013 show pricing somewhere between 2005 and 2006, which is outpacing the Case-Shiller projected national average.

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