By Judy Szablak

Westport’s single family home inventory is down, as is much of the nation, however contemporary-styled homes for sale are particularly scarce.

This home at 82 Morningside Drive South is listed at $3,575,000. (CLICK TO ENLARGE) Photo courtesy of Higgins Group/Christie’s Great Estates—Westport

For example, in Fairfield County, there are more than 3,900 single family properties for sale according to our local Multiple Listing Service. Countywide, less than 10 percent of these homes are either contemporary in interior or exterior styling, and Westport has just 39 homes actively listed fitting the description.

As we have watched our overall market improve, this segment has also performed well over the last few years. Sales data is consistent in both 2012 and 2013, with 39 homes sold last year, and 35 closings year-to-date, with another four pended and scheduled to close. Average sale prices are up more than 8 percent year-over-year.

Market Stats

There was a significant drop of nearly 13 percent from last week’s inventory, and there are now just 249 homes that are actively on the market which is partly seasonal. The average list price of these available homes is $2,340,273, and these properties have been listed for average of 125 days, with a cumulative market time of 203 days. The median price is currently at $1,785,000.

By Judy Szablak

With more than 400 homes closed year-to-date, Westport is up more than 33 percent over the comparable 2012 figure of 299, and the average sales price is up 8.9 percent to $1,533,349.

This home at 3 Charcoal Lane is listed at $1,849,000. (CLICK TO ENLARGE) Photo courtesy of Coldwell Banker Westport-Riverside

Our figures are at minimum right in line, or above the national numbers. The majority of the real estate markets throughout the country posted gains, with 33 percent showing double digit unit sale increases.

This represents the strongest annual growth in almost eight years, according to the latest quarterly report by the National Association of Realtors.

The median existing single-family home price increased in 144 out of 163 Metropolitan Statistical Areas, which amounts to 88 percent of the measured markets, and was based upon closings in the third quarter compared with the third quarter of 2012.