Westport, CT November 2024 Real Estate Market Insights & Forecasts
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 October 2024. You will see data comparisons between October and the previous month, the last three months and October 2023.
Westport, CT Average and Median Home Sales Prices
November, 2024
The median sales price in October 2024 was $1,550,000, down -32.61% from $2,300,000 from the previous month and -31.11% lower than $2,250,000 from October 2023. The October 2024 median sales price was at its lowest level compared to October 2023 and 2022. The average sales price in October 2024 was $1,862,087, down -9.98% from $2,068,620 from the previous month and -26.57% lower than $2,535,852 from October 2023. The October 2024 average sale price was at its lowest level compared to October 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 October 2024 sales price/list price ratio was 102.26%, equal to the previous month and equal to October 2023.
Westport, CT Number of Properties Sold and Absorption Rate
November, 2024
The number of properties sold in October 2024 was 23, down -8.00% from 25 from the previous month and -8.00% lower than 25 from October 2023. The October 2024 sales were at a mid level compared to October 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 October 2024 was 41 days, down -2.38% from 42 days from the previous month and -14.58% lower than 48 days from October 2023. The October 2024 DOM was at its lowest level compared with October 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 October 2024 was $616, up 7.88% from $571 from the previous month and -3.45% lower than $638 from October 2023.
Westport, CT Inventory & MSI
November, 2024
The number of properties for sale in October 2024 was 81, down -14.74% from 95 from the previous month and -24.30% lower than 107 from October 2023. The October 2024 inventory was at its lowest level compared with October 2023 and 2022. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2024 MSI of 3.52 months was at its lowest level compared with October 2023 and 2022.
Westport, CT New Listings
November, 2024
The number of new listings in October 2024 was 32, down -28.89% from 45 from the previous month and equal to October 2023. The October 2024 listings were at its lowest level compared to October 2023 and 2022.
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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.
