Westport’s Q2 2020 statistics deviated greatly from statewide quarterly trends: the number of closings increased year over year (33 last year versus 38 this quarter), and pricing dramatically decreased by 26.6% for single family homes. This drop in pricing is due to activity at the bottom end of the market rather than the top, as both Q2 2019 and Q2 2020 had one closing at $1.5M or higher.
In Q2 2019, there were only 3 sales under $300,000 and none under $200,000. This Q2, there were three sales under $200,000 and eight sales between $200,000 - $300,000, which dragged pricing downwards significantly.
On June 1st 2020, there were 42 homes on the market in Westport. On that same date in 2019, there were a whopping 85 homes on the market, more than double the current active inventory.