A reader sends along this story from Westport, written by an agent desperate to maintain the illusion that all is well. If you thought the Greenwich market was bad, Westport’s has passed through rigor mortis and is relaxed again, limp and beginning to stink. The author describes the situation as “a little unsteady” but hell, stretched prone on the ground, limbs outstretched and begging for it from the rear is about as steady as it gets.
It was quite a unique week for real estate sales in Westport. The average sales price for the six homes that were sold was less than $700,000.
Out of the nearly 320 homes currently for sale, there are 81 homes available under $1 million, and as things go, more of those “lower tier” properties sold last week than they have in any seven-day period in years.
There have been various and varying reports about the state of the real estate market in Fairfield County, and also in Westport. Some are extremely positive, and others point to a still distressed and bleak market
All that being noted, while some segments of the market are doing better than others, its certainly not continued “doom and gloom” as far as values are concerned, and one week doesn’t mean the bottom is about to fall out. We are in recovery mode—it’s still just a little unsteady.