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Friday, June 27, 2014

Real Estate Report: Summer Slowdown is Here

By Judy Szablak

The seasonal summer real estate slowdown has arrived in Westport—ask any Realtor in town.

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Featured Home: This home at 114 Morningside Drive South is listed at $2,595,000. (CLICK TO ENLARGE) Photo courtesy of The Riverside Realty Group/ Sue Lieberman & Associates.

Only 20 single family homes have gone under the initial stage of deposit this month, and just three specified price pockets are enjoying 30 percent of all of the activity in town.

The $850,000-900,000 price point is one of the most active price ranges, and has the lowest average market time of just 41 days to reported deposit. The $1.1-1.4 million and $2-2.5 million ranges have also been just as active this month, with an overall average market time of 83 days

Don’t expect too much of a change in overall buyer activity in the next 60-90 days. If your home is on the market, or you are planning to sell your home, it must show at its very finest during this time to effect a timely sale. Buyers are looking, but they are finicky.

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