Westport, CT September 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
September, 2024
The overview below shows real estate activity from January 2024 to September 2024. You will see data comparisons between September and the previous month, the last three months and September 2023.
Westport, CT Average and Median Home Sales Prices
September, 2024
The median sales price in September 2024 was $2,054,000, down -11.75% from $2,327,500 from the previous month and -12.60% lower than $2,350,000 from September 2023. The September 2024 median sales price was at a mid level compared to September 2023 and 2022. The average sales price in September 2024 was $2,032,208, down -31.80% from $2,979,564 from the previous month and -19.07% lower than $2,511,072 from September 2023. The September 2024 average sale price was at its lowest level compared to September 2023 and 2022.
Westport, CT Sales Price / List Price Ratio
September, 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 September 2024 sales price/list price ratio was 102.84%, equal to the previous month and up from 96.7% from September 2023.
Westport, CT Number of Properties Sold and Absorption Rate
September, 2024
The number of properties sold in September 2024 was 24, down -36.84% from 38 from the previous month and 41.18% higher than 17 from September 2023. The September 2024 sales were at a mid level compared to September 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)
September, 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 September 2024 was 42 days, down -42.47% from 73 days from the previous month and -50.59% lower than 85 days from September 2023. The September 2024 DOM was at its lowest level compared with September 2023 and 2022.
Westport, CT Average Sales Price per Square Foot
September, 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 September 2024 was $572, down -1.21% from $579 from the previous month and 22.48% higher than $467 from September 2023.
Westport, CT Inventory & MSI
September, 2024
The number of properties for sale in September 2024 was 79, down -7.06% from 85 from the previous month and -29.46% lower than 112 from September 2023. The September 2024 inventory was at its lowest level compared with September 2023 and 2022. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The September 2024 MSI of 3.29 months was at a mid level compared with September 2023 and 2022.
Westport, CT New Listings
September, 2024
The number of new listings in September 2024 was 40, up 53.85% from 26 from the previous month and -11.11% lower than 45 from September 2023. The September 2024 listings were at its lowest level compared to September 2023 and 2022.
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Based on information from SmartMLS for the period 10/01/2021 through 9/30/2024. Source data is deemed reliable but not guaranteed. Real estate agents affiliated with Coldwell Banker Realty are independent contractor sales associates, not employees.
