Westport, MA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Westport, MA Housing Market Trends

With 16,034 people, 6,525 houses or apartments, and a median cost of homes of $553,356, 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 85.63% 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 ( 6.35%), large apartment complexes or high rise apartments ( 3.75%), and a few row houses and other attached homes ( 3.52%).

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 82.75% of Westport's homes, and 66.07% 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 ( 31.15%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.90%). There's also some housing in Westport built before 1939 ( 14.23%).

Vacant housing appears to be an issue in Westport. Fully 12.23% 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

Appreciation rates for homes in Westport have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 33.10%, which ranks in the top 50% nationwide. This equates to an annual average Westport house appreciation rate of 2.90%.

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 6.45%, which is higher than appreciation rates in 73.18% 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 2.61%, which equates to an annual appreciation rate of 10.85%.

Relative to Massachusetts, our data show that Westport's latest annual appreciation rate is higher than 80% of the other cities and towns in Massachusetts.

Average Home Values

 

Median Home Value:
$553,356

Westport, MA HOME PRICES

> $1,180,000
4.0%
4.0%
$886,001 - $1,180,000
3.5%
3.5%
$591,001 - $886,000
18.1%
18.1%
$472,001 - $591,000
15.1%
15.1%
$355,001 - $472,000
25.2%
25.2%
$236,001 - $355,000
27.1%
27.1%
$118,001 - $236,000
5.2%
5.2%
$59,001 - $118,000
0.8%
0.8%
$0 - $59,000
0.9%
0.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for MA

Value Relative To Nation

Number Of Homes And Apartments:
6,525

Westport Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
104.67% 3.47%
9
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,682 / per month

Homeownership Rate

Owners
82.7%
82.7%
Renters
17.3%
17.3%
Vacant
12.2%
12.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
14.9%
14.9%
1970 - 1999
39.7%
39.7%
1940 - 1969
31.2%
31.2%
1939 or Older
14.2%
14.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
85.6%
85.6%
Townhomes
3.5%
3.5%
Small Apt. Buildings
6.3%
6.3%
Apt. Complexes
3.8%
3.8%
Mobile Homes
0.6%
0.6%
Other
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.3%
1.3%
1 Bedroom
6.4%
6.4%
2 Bedrooms
24.2%
24.2%
3 Bedrooms
44.9%
44.9%
4 Bedrooms
21.2%
21.2%
5 or more bedrooms
2.0%
2.0%
0.0% 100.0%
% OF HOMES