Westport, CT November 2024 Real Estate Market Update
City: Westport, CT
Assembled by: Judy Michaelis, 203-247-5000
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Westport, CT Real Estate Market & Trends Overview
November, 2024
The overview below shows real estate activity from January 2024 to November 2024. You will see data comparisons between November and the previous month, the last three months and November 2023.
Westport, CT Average and Median Home Sales Prices
November, 2024
The median sales price in November 2024 was $2,650,000, up 70.97% from $1,550,000 from the previous month and 56.80% higher than $1,690,000 from November 2023. The November 2024 median sales price was at its highest level compared to November 2023 and 2022. The average sales price in November 2024 was $2,706,902, up 45.37% from $1,862,087 from the previous month and 46.00% higher than $1,854,074 from November 2023. The November 2024 average sale price was at its highest level compared to November 2023 and 2022.
Westport, CT Sales Price / List Price Ratio
November, 2024
The sales price/list price ratio is the average sale price divided by the average list price for sold properties expressed as a percentage. If it is above 100%, homes are selling for more than the list price. If it is less than 100%, homes are selling for less than the list price. The November 2024 sales price/list price ratio was 100.66%, down from 102.26% from the previous month and equal to November 2023.
Westport, CT Number of Properties Sold and Absorption Rate
November, 2024
The number of properties sold in November 2024 was 27, up 17.39% from 23 from the previous month and equal to November 2023. The November 2024 sales were at a mid level compared to November 2023 and 2022. Absorption rate is the avg number of sales per month divided by the total number of available properties.
Westport, CT Average Days on Market (DOM)
November, 2024
The average days on market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM tends to indicate a move towards a buyer’s market, a downward trend tends to indicate a move towards seller’s market. The DOM for November 2024 was 47 days, up 14.63% from 41 days from the previous month and -16.07% lower than 56 days from November 2023. The November 2024 DOM was at its lowest level compared with November 2023 and 2022.
Westport, CT Average Sales Price per Square Foot
November, 2024
The average sales price per square foot is a more normalized indicator for the direction of property value. The sales price per square foot in November 2024 was $594, down -3.57% from $616 from the previous month and 22.47% higher than $485 from November 2023.
Westport, CT Inventory & MSI
November, 2024
The number of properties for sale in November 2024 was 57, down -25.97% from 77 from the previous month and -40.0% lower than 95 from November 2023. The November 2024 inventory was at its lowest level compared with November 2023 and 2022. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The November 2024 MSI of 2.11 months was at its lowest level compared with November 2023 and 2022.
Westport, CT New Listings
November, 2024
The number of new listings in November 2024 was 14, down -54.84% from 31 from the previous month and -26.32% lower than 19 from November 2023. The November
2024 listings were at its lowest level compared to November 2023 and 2022.
©2024 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Realogy Brokerage Group LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.
Based on information from Smart MLS for the period 11/01/2021 through 10/31/2024. Source data is deemed reliable but not guaranteed. Real estate agents affiliated with Coldwell Banker Realty are independent contractor sales associates, not employees.
