Westport, CT April 2025 Real Estate Market Insights & Forecasts
City: Westport, CT
Assembled by: Judy Michaelis, 203-247-5000
Westport homeowners,
Have a look at the numbers below, and let me know what you think!
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– Judy
Market Trends Report
March 2025
Judy Michaelis
Broker Lic#: 0750642
Overview
The overview below shows real estate activity from January 2025 to March 2025. You will see data comparisons between March and the previous month, the last three months and March 2024.
| Overview | YTD Avg. | March | February | Dec. – Feb. | Mar. 2024 |
|---|---|---|---|---|---|
| New Listings | 100 | 39 | 28 | 24 | 42 |
| Average Sales Price per Square Foot | 600 | 616 | 605 | 606 | 471 |
| Average Days on Market | 57 | 69 | 61 | 55 | 65 |
| Number of Properties for Sale | 215 | 68 | 80 | 68 | 85 |
| Average List Price | $4,716,342 | $4,872,684 | $4,637,776 | $4,521,300 | $3,475,479 |
| Median List Price | $4,082,333 | $4,335,000 | $3,987,000 | $3,907,333 | $2,795,000 |
| Average Sales Price | $2,592,219 | $3,778,520 | $2,105,458 | $2,280,446 | $2,455,156 |
| Median Sales Price | $2,239,083 | $3,327,000 | $1,786,250 | $1,942,583 | $2,022,500 |
| Sales Price / List Price Ratio | 101.55% | 103.11% | 99.14% | 100.59% | 97.71% |
| Number of Properties Sold | 43 | 17 | 12 | 19 | 16 |
| Month’s Supply of Inventory | 5.15 | 4 | 6.67 | 4.44 | 5.31 |
| Absorption Rate | 0.2 | 0.25 | 0.15 | 0.3 | 0.19 |
Average & Median Sales Price
The median sales price in March 2025 was $3,327,000, up 86.26% from $1,786,250 from the previous month and 64.50% higher than $2,022,500 from March 2024. The March 2025 median sales price was at its highest level compared to March 2024 and 2023. The average sales price in March 2025 was $3,778,520, up 79.46% from $2,105,458 from the previous month and 53.90% higher than $2,455,156 from March 2024. The March 2025 average sale price was at its highest level compared to March 2024 and 2023.
Sales Price / List Price Ratio
The sales price/list price ratio is the average sale price divided by the average list price for sold properties expressed as a percentage. If it is above 100%, homes are selling for more than the list price. If it is less than 100%, homes are selling for less than the list price. The March 2025 sales price/list price ratio was 103.11%, up from 99.14% from the previous month and up from 97.71% from March 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in March 2025 was 17, up 41.67% from 12 from the previous month and 6.25% higher than 16 from March 2024. The March 2025 sales were at a mid level compared to March 2024 and 2023. Absorption rate is the avg number of sales per month divided by the total number of available properties.
Average Days on Market
The average days on market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM tends to indicate a move towards a buyer’s market, a downward trend tends to indicate a move towards seller’s market. The DOM for March 2025 was 69 days, up 13.11% from 61 days from the previous month and 6.15% higher than 65 days from March 2024. The March 2025 DOM was at a mid level compared with March 2024 and 2023.
Average Sales Price per Square Foot
The average sales price per square foot is a more normalized indicator for the direction of property value. The sales price per square foot in March 2025 was $616, up 1.82% from $605 from the previous month and 30.79% higher than $471 from March 2024.
Inventory & MSI
The number of properties for sale in March 2025 was 68, down -15.00% from 80 from the previous month and -20.0% lower than 85 from March 2024. The March 2025 inventory was at its lowest level compared with March 2024 and 2023. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The March 2025 MSI of 4 months was at its lowest level compared with March 2024 and 2023.
New Listings
The number of new listings in March 2025 was 39, up 39.29% from 28 from the previous month and -7.14% lower than 42 from March 2024. The March 2025 listings were at its lowest level compared to March 2024 and 2023.
