Westport, CT April 2025 Real Estate Market Report: Insights & Forecast
City: Westport, CT
Assembled by: Judy Michaelis, 203-247-5000
Market Trends Report
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.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the March 2025 Westport Market Update:
🏠 Home prices are surging – Median sales price is $3.327M. That's up 86% from last month and 65% from last year, reaching new highs.
⏰ Homes are taking slightly longer to sell – Average days on market is now 69, up from 61 last month and 65 days last year.
📈 Inventory continues shrinking – 68 homes for sale, down 15% from last month and 20% from a year ago. Supply remains extremely tight!
📊 Sales activity picked up – 17 homes closed in March, up 42% from last month and 6% from last year's pace.
What Buyers and Sellers Need to Know
✨ Sellers: This is your market with homes selling at 103% of list price and record-high prices. Take advantage of the strong demand while inventory stays low.
🔍 Buyers: Competition is intense with limited options and prices at all-time highs. Be prepared to move quickly and go above asking price to secure a home.
Want Personalized Advice?
Have thoughts or questions? Let me know what you think!
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