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Thursday, July 03, 2014

Real Estate Report: Summing Up 2014’s First Half

By Judy Szablak

The first half of the year is so similar to 2012’s first two quarters that it’s like deja vu for Westport’s real estate market. 

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Featured Home: This home at 6 Sycamore Drive is listed at $3,250,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis Westport / Jeanette Dryburgh & Associate

The first half of 2014 brought us 167 single family home sales as reported through our Multiple Listing system. The first half of 2012 brought us that same exact number in unit sales. That’s in sharp contrast to 2013, when Westport had 211 sales year-to-date.

The lack of inventory during the traditional buying season, due in part to a harsh winter, and then a late start by home sellers entering the marketplace appear to have contributed to a less than stellar year in unit sales thus far.

What may not be so readily apparent is that even though unit sales are down, prices are still on the rise. Removing the two sales last year on Beachside Avenue which accounted for $34.4 million dollars in volume rectifies the skewed statistics.

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