PLAYHOUSE IN WESTPORT CT AND 2012-2015 MARKET trends

February 17, 2015 scroll to read ...
How has real estate been behaving lately? Are prices rising? Are houses selling more quickly? How many months of inventory is there? What is the ratio of sales price to list price?

WESTPORT PLAYHOUSE

The Langers, who were successful theater producers and who lived in Weston, CT, wanted a little quieter sophisticated place outside of New York City, to create a resident acting company. Their plan was to experiment with new plays and perform reinterpretations of the classics. In 1930 they purchased a red barn in an apple orchard in Westport, CT.

A well respected Broadway set designer was hired to transform the barn into a red and gold toy Victorian theater. The stage was built to mimic the Broadway Times Square Theater on 42nd Street in New York City. The Playhouse closed during World War II.

In the 1940’s the Playhouse was remodeled to expand orchestra seating capacity. Then there was a restaurant built next to the Playhouse, which made it a very desirable evening out. In 1990 the Westport Playhouse became a Historic Place on the Connecticut State Register.

In 2015 some of the interesting shows to see are "The Liar," "And the Nightingale Sang" and "Love and Money." There are also lots of Family Festivities and Student Matinees.

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The real estate market in Westport over the last three years (2012-2015) has seen an upturn and a very slow but steady increase in price and sales numbers. Please follow the graphs below for easy to understand trends in home sales .

Are you trying to sell your home today, and watching the market trends - the prices are steadily increasing! Come buy and sell NOW!

Cumulative Days on Market - the total days it takes to sell a home- from the beginning of the first listing to the end when the sale closes. It's nice to see homes are selling a little quicker nowadays.

Months of inventory is the amount of time it will take to sell a home in the area. As the number gets smaller, the market turns into a "sellers market" - meaning the demand is huge for homes, and buyers are running into bidding wars for the home of their choice.

The number of sales increasing is always a good sign for the real estate market - more buyers are choosing and closing on homes.

As demand increases on homes in an area, so does the list to sale price ratio. More competition means buyers are not willing to lose a home by placing a low bid, and are offering closer to list price.

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