Sometimes the real estate market is good for sellers. Sometimes it’s good for buyers.
Right now, it’s great for both.
That’s the analysis of January statistics, by our friends at KMS Team at Compass.
The number of new listings — 47 — is up 88% from the 25 new listings a year earlier, in January 2023.
The spring market usually starts around Super Bowl time, KMS Team says. This year, it seems to have begun a month earlier. That’s good news for buyers, who for a while last year were hamstrung by low inventory.
The median sales price in January 2024 — $1,887,500 — is up 18% from the $1,590,000 of a year ago.
That tracks with the total sales volume of $50,853,000 in January — up 23% from $41,194,500 a year earlier.
That’s good news for sellers.
The most popular price range among January’s 20 closed sales was $1.5 million to $1.999 million. There were 7 homes in that category. There was just 1 closing for less than $1 million, and 2 in the $5 million to $6.999 million range.
For detailed statistics on Westport’s real estate market, click here.
This new construction at 15 Burr Farms Road sold last month for $5,450,000.
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I wish these new builds weren’t all so samey and dull. They’ve got the same strat for every one: knock down some old 50s development, clear cut every tree (never to replant), build out of cheaply sourced materials that’ll make them uninhabitable in a decade, put too many windows out front and too few in the back. Sell for $1,500,000+ to a young New York couple with kids in the 4-10 year old range, vola! New Westport build!
Yes Josh. No one will ever associate Westport with taste. Kindly keep them out of Massachusetts!