Hi, I’m Judy Michaelis, your local Westport Real Estate expert!
Here with the June 2025 market update. Let’s dive into the numbers.
The median home price now is $2.475 million. Well, that is down 15% from April. It is still up nearly 27% from May 2024’s $1,950,000. And it’s just 1% below May 2023’s $2.5 million.
Days on market have increased to 38. It’s up 58% from last year’s 24, though still well below the 77 days we saw in May of 2023.
Inventory stands at 92 homes, up 8% from May 2024’s 85 and 6% above May 2023’s 87. The most significant change is in closed sales.
We’ve had 23 closed sales in May, which is 15% fewer than May 2024’s 27 and 18% below May 2023’s 28.
So what does it mean for you?
For sellers:
- Price is realistically based on recent comparable, not April’s peak.
- Expect a longer selling timeline, 38 days versus last year’s 24.
- Invest in preparation to stand out among the increasing inventory.
For buyers:
- Enjoy more options with 8% inventory growth.
- Understand that prices remain strong despite the monthly correction.
In conclusion, Westport Market is slightly recalibrating, showing strong yearly appreciation of nearly 27% while moving towards a more balanced condition.
Thanks for watching!
For more personalized advice on navigating Westport’s unique market dynamics, reach out anytime.
And don’t forget to like, subscribe, and hit the notification bell to stay updated on Westport’s Real Estate Market.
📲If you’ve been considering selling your home or know someone who could benefit from a strategy like this, feel free to call, text, or email me.
The same results could be achieved for you!
Judy Michaelis
