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Monday, February 23, 2004

Survey: Westport Ranked 22nd in $1 Million Plus 2003 Real Estate Sales

A survey by Coldwell Banker Real Estate Corp. found Westport ranked 22nd in the nation last year in the sale of luxury homes valued at $1 million or more.

An announcement said Westport sales in the category for the company totaled $172.3 million.

The only other Connecticut community in the top 75 was Greenwich at No. 31 with $153.18 million.

In 2003, Coldwell Banker affiliates sold 13,816 luxury homes priced over $1 million, up 24 percent from 2002, the company said. 

Los Angeles led the list with $629 million in luxury sales, followed by San Francisco, Malibu, Newport Beach, Pacific Palisades, and Santa Monica.

California towns and cities accounted for 18 of the 25 top luxury home markets on the list. Only Boca Raton, Fla., Boston, and Chicago among non-California locations bested Westport.

Full text of the news release is available here.

A recent report by William Raveis Real Estate showed the average sales price of Westport homes jumped 13.9 per cent in 2003 over 2002—to $1,129,580 compared to $995,227.

The average list price in 2003 was $1,393,338 compared to $1,316,395, an increase of 5.8 percent.

The number of sales dropped from 494 to 423 or 14 percent in the period. Days on the market increased from 72 to 82 or 13.9 percent.

The number of listings in 2003 was 823 compared to 737 in 2002, up 12.2 percent, the company said.

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Posted 02/23/04 at 04:36 PM  Permalink



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Posted by JJ on February 23, 2004 at 06:03 PM | #