Westport - Greens Farms Update June 2008

Westport - Greens Farms Real Estate Update

June 2008

It has been a very different six months for Greens Farms Real Estate. Coming off a superb 2007, everything looked like this neighborhood was immune to any of the national or regional real estate slowdowns. However, we now are experiencing home sales being off almost 60% from last year. This is an average of just over 2 homes sold per month. With an inventory of 39 homes for sale, this means that we have a 20 average market time.

With only 13 sales, we don't want to put too much weight on the sales numbers. However, we are showing a 17-29% drop in Average Selling Prices. This is one of the largest drops Westport has seen in any neighborhood. The silver lining is this is a great time to buy and there are some great values to be had in one of the most desirable locations in all of Westport!