Westport, CT January 2025 Real Estate Market Insights & Forecasts
City: Westport, CT
Assembled by: Judy Michaelis, 203-247-5000
2024 brought a familiar story in Westport real estate – 2025 may not.
I’m here today to discuss the 2024 housing market and share my 2025 real estate predictions.
If I had to describe 2024 in one word, it would be “familiar.” It closely mirrored 2023, which itself wasn’t that different from 2022. We’ve seen a market that really feels steady and consistent.
The median sales price in Westport in 2024 increased by 5%, reaching just north of 2.1 million. About a million more than in 2019. Sales dipped ever so lightly, from 330 sales in 2023 to 308 in 2024. And the list itself price ratio inched up just to 102, just above the 101 in 2023. But I believe 2025 will be different.
The keyword for this year is acceptance. And with that comes the potential for change. We’ve now accepted that interest rates won’t return to the 2% in the foreseeable future.
That prices likely won’t go down, and the most people are financially better off now than they were five years ago. This acceptance is what I predict will lead to more homeowners deciding to sell and either trade up or trade down, resulting in increased inventory.
Since the stock market performed well this year and bonus season will be strong. We may see the return of the trade-up buyer. What’s more, Westport buyers will continue to pay a premium for new homes, and the gap between new and older homes in Westport will widen.
Savvy buyers looking for an opportunity may take note. If you’re curious about how these predictions might apply to your situation, I’ve compiled years of market data on my website, including insights from the past three years and beyond.
You can also call, text, or email me for personal advice or additional data going back ten years.
I’ll be happy to help you make sense of the market and how it fits your goals.
Let’s take the guesswork out of the equation.
Have a look at the numbers below, and let me know what you think!
Sitting down with a top realtor is vital in helping you understand your options. If you’d like to know what’s going on in your part of Westport, or you’re looking for any further detailed analysis, feel free to call, text, or email me – I’d love to have a personal conversation with you. If you like what you see and hear in my videos, just subscribe above!
– Judy
Westport, CT Real Estate Market & Trends Overview
January, 2025
The overview below shows real estate activity from January 2024 to December 2024. You will see data comparisons between December and the previous month, the last three months and December 2023.
Westport, CT Average and Median Home Sales Prices
January, 2025
The median sales price in December 2024 was $2,437,500, down -8.02% from $2,650,000 from the previous month and 39.29% higher than $1,750,000 from December 2023. The December 2024 median sales price was at its highest level compared to December 2023 and 2022. The average sales price in December 2024 was $2,843,200, up 5.04% from $2,706,902 from the previous month and 33.25% higher than $2,133,765 from December 2023. The December 2024 average sale price was at its highest level compared to December 2023 and 2022.
Westport, CT Sales Price / List Price Ratio
January, 2025
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 December 2024 sales price/list price ratio was 100.22%, equal to the previous month and down from 103.45% from December 2023.
Westport, CT Number of Properties Sold and Absorption Rate
January, 2025
The number of properties sold in December 2024 was 30, up 11.11% from 27 from the previous month and 76.47% higher than 17 from December 2023. The December 2024 sales were at its highest level compared to December 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)
January, 2025
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 December 2024 was 62 days, up 31.91% from 47 days from the previous month and -25.30% lower than 83 days from December 2023. The December 2024 DOM was at its lowest level compared with December 2023 and 2022.
Westport, CT Average Sales Price per Square Foot
January, 2025
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 December 2024 was $635, up 6.90% from $594 from the previous month and -20.13% lower than $795 from December 2023.
Westport, CT Inventory & MSI
January, 2025
The number of properties for sale in December 2024 was 50, down -27.54% from 69 from the previous month and -30.56% lower than 72 from December 2023. The December 2024 inventory was at its lowest level compared with December 2023 and 2022. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2024 MSI of 1.67 months was at its lowest level compared with December 2023 and 2022.
Westport, CT New Listings
January, 2025
The number of new listings in December 2024 was 11, down -26.67% from 15 from the previous month and 22.22% higher than 9 from December 2023. The December 2024 listings were at its highest level compared to December 2023 and 2022.
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Based on information from SmartMLS for the period 01/01/2022 through 12/31/2024. Source data is deemed reliable but not guaranteed. Real estate agents affiliated with Coldwell Banker Realty are independent contractor sales associates, employees.
