Westport, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Westport, MA Real Estate Data


Westport Housing Market Information

With a population of 15,814, 6,046 total housing units (homes and apartments), and a median house value of $406,397, real estate costs in Westport are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Massachusetts communities.

Single-family detached homes are the single most common housing type in Westport, accounting for 82.62% of the town's housing units. Other types of housing that are prevalent in Westport include duplexes, homes converted to apartments or other small apartment buildings ( 8.48%), row houses and other attached homes ( 4.88%), and a few large apartment complexes or high rise apartments ( 4.02%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Westport. Owner-occupied housing accounts for 83.31% of Westport's homes, and 64.82% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Westport built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Westport built between 1940-1969 ( 28.67%). A lesser amount of the housing stock also hails from before 1939 ( 18.83%). There's also some housing in Westport built between 2000 and later ( 16.28%).

Vacant housing appears to be an issue in Westport. Fully 16.47% of the housing stock is classified as vacant. Left unchecked, vacant Westport homes and apartments can be a drag on the real estate market, holding Westport real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Westport Home Appreciation Rates

Westport's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Westport during the period has been just -0.70%, which is lower than 70% of US communities.

Appreciation rates are so strong in Westport that despite a nationwide downturn in the housing market, Westport real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Westport appreciation rates continue to be some of the highest in America, at 5.95%, which is higher than appreciation rates in 73.56% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Westport. Westport appreciation rates in the latest quarter were at 2.07%, which equates to an annual appreciation rate of 8.54%.

Relative to Massachusetts, our data show that Westport's latest annual appreciation rate is higher than 60% of the other cities and towns in Massachusetts.

Average Home Values

 

Median Home Value:
$406,397

Westport, MA HOME PRICES

Value Range
> $1,119,000 3.8
$839,001 - $1,119,000 3.6
$559,001 - $839,000 15.1
$447,001 - $559,000 14.4
$336,001 - $447,000 25.7
$224,001 - $336,000 25.2
$112,001 - $224,000 7.2
$56,001 - $112,000 1.3
$0 - $56,000 3.7

Average for MA
Very High for Nation

Value Relative to Nation Value Relative to State
9.42788545997541 42.6282051282051

Number Of Homes And Apartments:
6,046

Rent & Ownership

 

Average Market Rent:
$1,307 / per month

Homeownership Rate

Homeownership
Owners 83.31
Renters 16.69
Vacant 16.47

Housing Market Details

 

Age of Homes

AGE OF Westport HOMES
2000 or Newer 16.3
1970 - 1999 36.2
1940 - 1969 28.7
1939 or Older 18.8

Types of Homes

TYPE OF Westport HOMES
Single-Family 82.6
Townhomes 4.9
Small Apt. Buildings 8.5
Apt. Complexes 4.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Westport HOMES
No Bedroom 0.68
1 Bedroom 7.71
2 Bedrooms 21.66
3 Bedrooms 48.07
4 Bedrooms 16.76
5 or more bedrooms 5.13

Westport Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
71.88% 3.24% 9 9
* 10 is highest