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Tuesday, September 02, 2014

Real Estate Report: Inventory Shrinking

By Judy Szablak

We are starting to see a decline in Westport’s housing inventory that has been trending for the last 30 days or so. In fact, the number of single family homes that are available has declined 10 percent in the last month alone.

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Featured Home: This home at 226 Bayberry Lane is listed at $1,799,000. (CLICK TO ENLARGE) Photo courtesy of The Riverside Realty Group/ Bross Chingas Bross

The dwindling inventory is certainly not bad news for sellers. It has more of an effect on buyers who are wishing to purchase a home and close by the end of the year.

That means if and when a seller gets an offer, they should respond reasonably quickly, and maybe even more so than other times throughout the year.

This is simply because timing is everything during the fall months. 

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