July 2024 Westport, CT Real Estate Market Update
By Judy Michaelis, Real estate agent serving Westport, CT
(Coldwell Banker)
Westport homeowners:Westport presents a tale of two markets.First, for sellers with properly staged and competitively priced listings. The market remains strong. For example, a recent Westport listing with a market value of around $3.25 million was listed at only $3.1 million. This sparked a frenzy of multiple offers and closed for over 3.5 million, all cash with no contingencies. A seller’s dream.On the other hand, the unstaged or overpriced listings, even those priced at market value, tend to sit in the market longer, giving buyers more leverage and negotiation power. Unlike the market of 2021 and 2022, when it seemed everything – even a cardboard box – would sell; today’s market is much more selective.Many buyers, frankly, struggle to see the potential in unstaged homes and simply ig...
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