Sellers Fairing Well In Lower Price Ranges in Westport Connecticut

A price distribution report for Westport Connecticut shows us how quickly our inventory is being absorbed into the market (through sales). Despite popular belief, some price ranges are either geared toward sellers or are balanced between buyers and sellers. Lower price points have been more well-balanced in the past year. However, $700,000-$749,900 is oddly at 2 years of supply. This could be a result of this being a popular price point in contiguous, more well-valued towns such as Fairfield. Any supply time of 6 months or less is encouraging to sellers with the prospect of a buyer coming in and beginning the negotiation process. We have some very consistent, fast-moving price ranges, particularly in the middle of the market: $1,200,000-$1,299,000. Inventory in this price point tends to fly of the shelves and condition is not as important of a consideration to a buyer. The brakes get slammed on at $1,400,000 and buyers are showing considerable resistence. For the most part, luxury buyers are relunctant and extremely discriminating when it comes to placing offers and making purchases. In some cases, we will be trying to rid the market of a severe over supply of listings in the upper end for many years.





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