The Median Sales Price in February was $1,130,000, down 35.4% from $1,750,000 in February of 2011 and up 15.9% from $975,000 last month. The Average Sales Price in February was $1,151,077, down 48.4% from $2,228,615 in February of 2011 and down 4.2% from $1,201,069 last month. February 2012 ASP was at the lowest level compared to February of 2011 and 2010.

Market Action Report – City_ Westport – Feb2012

Gail Lilley Zawacki, Realtor
Coldwell Banker Real Estate
472 Riverside Avenue
Westport, CT 06880
203-856-9949
Gail@SouthernCT.com

The Median Sales Price in February was $491,250, down 40.0% from $818,325 in February of 2011 and up 1.8% from $482,500 last month. The Average Sales Price in February was $526,875, down 40.9% from $891,319 in February of 2011 and up 6.4% from $495,000 last month. February 2012 ASP was at the lowest level compared to February of 2011 and 2010.

Market Action Report – City_ Easton – Feb2012

Gail Lilley Zawacki, Realtor
Coldwell Banker Real Estate
472 Riverside Avenue
Westport, CT 06880
203-856-9949
Gail@SouthernCT.com

The Median Sales Price in December was $750,000, down 36.2% from $1,175,000 in December of 2010 and down 33.3% from $1,125,000 last month. The Average Sales Price in December was $976,607, down 33.1% from $1,460,352 in December of 2010 and down 33.3% from $1,463,333 last month. December 2011 ASP was at the lowest level compared to December of 2010 and 2009.

Market Action Report – City_ Westport – Dec2011

Gail Lilley Zawacki, Realtor
Coldwell Banker Real Estate
472 Riverside Avenue
Westport, CT 06880
203-856-9949
Gail@SouthernCT.com

The Median Sales Price in October was $580,000, up 0.8% from $575,500 in October of 2010 and down 12.8% from $665,000 last month. The Average Sales Price in October was $738,000, up 21.9% from $605,250 in October of 2010 and up 3.9% from $710,600 last month. October 2011 ASP was at the highest level compared to October of 2010 and 2009.

Market Action Report – City_ Easton – Oct2011

Gail Lilley Zawacki, Realtor
Coldwell Banker Real Estate
472 Riverside Avenue
Westport, CT 06880
203-856-9949 
Gail@SouthernCT.com

The Median Sales Price in July was $777,000, up 89.5% from $410,000 in July of 2010 and up 34.0%  from $580,000 last month. The Average Sales Price in July was $870,250, up 64.6% from $528,667 in July of 2010 and up 41.5% from $615,000 last month. July 2011 ASP was at the highest level compared to July of 2010 and 2009.

Market Action Report – City_ Easton – Jul2011

Gail Lilley Zawacki, Realtor
Coldwell Banker Real Estate
472 Riverside Avenue
Westport, CT 06880
203-856-9949
Gail@SouthernCT.com

The first quarter ended with decent home sales activity, but the rest of the year should be even better. Here’s why.

The first quarter ended with decent home sales activity, with existing homes selling at an annualized pace of 5.1 million. The remainder of the year should be better still for the following reasons:

• Rising stock market wealth
• Rising apartment rents
• Mortgage rates remain low
• Continuing high affordability conditions
• Home values at historically justifiable levels
• Investors looking to hedge against inflation
• Foreigners buying U.S. homes on the cheap
• Potential 3Q job growth

Other potential contributing factors, although they’re not happening yet, are huge bank profits translating into more desire to lend and some reduction to market friction as lenders’ short sale approval processes improve and appraisals become less of an issue. So, if existing-home sales either hold at the 5.1 mil¬lion pace of the first quarter or improve on that, then the annual sales tally will easily exceed the 4.9 million home sales we saw last year.

Still, the stars are not all aligned. There will be obstacles. High gas prices are a daily reminder that something is not right with the economy; that will hold back consumer confidence. Washington policy¬makers are debating the ending of government guaranteed mortgages and requiring a minimum down payment of 10 to 20 percent on conventional mortgages, even though the FHA and VA mortgage programs have very low down payments and have yet to require a single dime of taxpayers’ money. And there will be attempts to chip away at the mortgage interest deduction by invoking class warfare—the ” let’s go after the rich ” approach. By Lawrence Yun | June 2011

But all real estate is local, right? And all these national number that folks like me spew don’t have any footing in local reality, right? Yes, that may be true when it comes to the number. All real estate is local, but consumer confidence is national, and that trumps the local numbers.

Speaking of local news, for the month of June, 2011 compared to June, 2010, Weston has 8% more inventory for sale and the median sales price has basically stayed the same, while the average sales price has increased by 10%. And, very important, the days on the market have decreased by 12.8%. Although we are tracking about the same number of sold properties today as in June of 2009 and 2008, Weston is off by 63% in sold property versus June, 2000…just for some prospective. In addition, there are 14 pending sales (in contract) and 8 properties that have binders.

June YTD sales of 53 are running 13.1% behind last year’s year-to-date sales of 61. However, there are currently 15 pending sales which is 50% higher than the total sales in July of last year.

June Property sales were 11, down 21.4% from 14 in June of 2010 and the same as the 11 sales last month. June 2011 sales were at a mid level compared to June of 2010 and 2009.

The Median Sales Price in June was $637,500, down 26.8% from $871,250 in June of 2010 and down 15.0% from $750,000 last month. The Average Sales Price in June was $781,350, down 15.4% from $923,064 in June of 2010 and down 6.4% from $834,409 last month.

The Total Inventory of Properties available for sale as of June was 170, down 0.6% from 171 last month and up 8.3% from 157 in June of last year.

The days on market for June was significantly better at 64 days, down 42.3% from 111 days last month and down 36.0% from 100 days in June of last year.

The June 2011 Selling Price vs Original List Price of 94.2% was up from 91.7% last month and down from 96.9% in June of last year.

Any more Good News? After it seemingly months of few showings, the week after the July 4th holiday phones started ringing with more showings across the board again. . We still have a window of opportunity this year to get homes bought and sold, and we are seeing signs that this year will have a late market with renewed activity. There are deals being done and in our market, buyers are not waiting in the wings as in months and years past. Stay up on what is selling, and what is not. Look at competition in the surrounding towns and be the best in your class. Know the feedback and do what you can to be ready to show your property at any time. One missed buyer is one missed opportunity We are still in an area of Fairfield County that has proven to be more resilient that most parts of the country. That is really good news!

Weston Real Estate Monitor

Weston Real Estate Sales Activity - June 2011

Gail Lilley Zawacki, International President’s Premier, Realtor for fifteen years with Coldwell Banker Residential Brokerage at 472 Riverside Ave, Westport, CT.  Member of the Westport/Weston Board of Realtors and providing information as a Top 5 Member.  You may reach her at: (203) 682-9444 or Email:   Gail@SouthernCT.com Website:   www.SouthernCT.com.  Writing Real Estate Statistics since 2001 for the Weston Forum.

The Median Sales Price in June was $637,500, down 26.8% from $871,250 in June of 2010 and down 15.0% from $750,000 last month. The Average Sales Price in June was $781,350, down 15.4% from $923,064 in June of 2010 and down 6.4% from $834,409 last month. June 2011 ASP was at the lowest level compared to June of 2010 and 2009.

Market Action Report – City_ Weston – Jun2011

Gail Lilley Zawacki, Realtor
Coldwell Banker Real Estate
472 Riverside Avenue
Westport, CT 06880
203-856-9949
Gail@SouthernCT.com

The Median Sales Price in June was $1,087,500, down 0.2% from $1,090,000 in June of 2010 and down 1.1% from $1,100,000 last month. The Average Sales Price in June was $1,252,328, down 1.4% from $1,270,346 in June of 2010 and down 3.2% from $1,294,032 last month. June 2011 ASP was at the lowest level compared to June of 2010 and 2009.

Market Action Report – City_ Westport – Jun2011

Gail Lilley Zawacki, Realtor
Coldwell Banker Real Estate
472 Riverside Avenue
Westport, CT 06880
203-856-9949
Gail@SouthernCT.com

The Median Sales Price in June was $750,000, up 9.6% from $684,000 in June of 2010 and up 17.8% from $636,875 last month. The Average Sales Price in June was $825,467, up 19.1% from $693,375 in June of 2010 and up 22.8% from $671,958 last month. June 2011 ASP was at the highest level compared to June of 2010 and 2009.

Market Action Report – City_ Redding – Jun2011

Gail Lilley Zawacki, Realtor
Coldwell Banker Real Estate
472 Riverside Avenue
Westport, CT 06880
203-856-9949
Gail@SouthernCT.com

The Median Sales Price in June was $585,000, down 23.3% from $762,500 in June of 2010 and down 28.2% from $815,000 last month. The Average Sales Price in June was $670,000, down 24.3% from $885,044 in June of 2010 and down 17.8% from $815,000 last month. June 2011 ASP was at a mid range compared to June of 2010 and 2009.

Market Action Report – City_ Easton – Jun2011

Gail Lilley Zawacki, Realtor
Coldwell Banker Real Estate
472 Riverside Avenue
Westport, CT 06880
203-856-9949
Gail@SouthernCT.com