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Single-Family Home Sales Fall 21 Percent In Westport

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FAIRFIELD COUNTY, Conn. -- Real estate sales throughout the Westport region fell compared with the third quarter of 2013, but analysts believe the unusually high activity last year caused the dip.

“Last year was so high that we saw a 30 percent increase from 2012,’’ said Cheryl Scott-Daniels of CSD Select Homes in Westport. “There was so much pent-up demand that a lot of people made the decision to get off the fence. What we saw in the third quarter was pretty consistent for the year.”

Sales of single-family homes fell 21.4 percent in Westport compared with last year, according to the quarterly report from Berkshire Hathaway HomeServices New England Properties. Sales also fell in Norwalk (0.6 percent), Weston (6.3 percent), Wilton (12.2 percent) and Redding (46.2 percent). Sales rose 45.8 percent in Easton.

The median sale price and average sale price rose in nearly each community, however. Norwalk’s median sale price climbed 0.8 percent, and the average sale price rose 5.5 percent to $417,000. Westport’s average sale price rose 17.3 percent, and the median sale price rose 9.9 percent. Wilton’s average sale price climbed 2.6 percent. Easton (24 percent) and Redding (19.7 percent) also big jumps in average sale price. Weston’s average sale price fell 4.3 percent.

The third-quarter numbers from the six communities tell the story of real estate in general for Fairfield County. Sales were down 9 percent countywide, compared with 2013, and year-to-date sales are down 7 percent, according to the a report from William Pitt. The quarterly median sale price fell 2 percent across the county compared with 2013.

Scott-Daniels said the average days on market is dropping, and she believes the market is stable. A jittery stock market could affect market stability, and interest rates still remain remarkably low. A rise in rates could also affect home sales.

“It seems like consumer confidence was down a little bit in the last quarter, but it’s still better than it had been,’’ Scott-Daniels said. “Real estate is still a good market. It’s good for buyers, and there’s good inventory, which is good for sellers. It’s almost a balanced market.”

Reports from CSD Select Homes and William Pitt Sotheby’s International Realty are also available online.

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