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Wednesday, February 12, 2014

Real Estate Report: Lack of Inventory Affecting Closings

By Judy Szablak

Simply put, lack of inventory, coupled with the extreme weather, has adversely affected the number of Westport closings this year.

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This home at 78 Hillspoint Road is listed at $3,095,000. (CLICK TO ENLARGE) Photo courtesy of The Higgins Group/Westport

The 23 single family home sales in 2014 is evidence of that. In fact, sales are down by almost 30 percent compared to 2013’s first 45 days. But this should not be taken as a negative sign for the rest of this year.

The continued inclement weather has put a damper on new listings, and although there are many buyers that are out and looking to move into Westport, they are just not finding what they are looking for.

A home that is priced correctly and shows well is apt to sell in most any kind of weather, and sellers need not wait until the beginning of the so called “spring market” to effect a sale, as it is already here.

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