Westport’s New Construction Market is hot! New homes are selling very well and builders are currently in the market for land to replace sold inventory and meet what appears to be endless buyer demand. So now is a good time to sell an older home on a good lot. The market for lots can actually be more cyclical then you would expect. This is not really surprising when you think that a bull market for new home sales will likely leave more than one builder short of inventory at the same time. Still, within that demand cycle, there can be varying levels of need among the builders. Also, individual builders have varying levels of access to good building lots. This can lead to opportunities for property sellers who may get a premium price from builders with less access, as opposed to the larger building firms who may have more to choose from and routinely more inventory on hand.

Premium one acre building lots support homes selling between 2.6 and 3.6m and are trading between 900K and 1.200M, depending upon location and property characteristics. Half acre lots generally support new homes selling between 1.7 and 2.4, and sell for 650-800. As mentioned before, there are premiums/exceptions for the Compo Beach area, as well as for particular streets in other areas of Westport. An agent who specializes in new construction will know which locations those are. Here are some recent prices paid by builders for lots in 2013

Recent Westport Building Lot/Teardown Sales 2013

One Acre Lots
25 Edgemarth Hill $920,000
29 Salem Rd $950,000
9 High Point Rd $1,150,000

Half Acre+- Lots
6 Rebel Rd $675,000
121 Imperial Ave $700,000
18 Webb Rd $735,000

Compo Beach Lots
23 Burnham Hill $1,150,000
2 Buena Vista $1,250,000
15 Yankee Hill Rd $1,650,000

Buildings Lots & land for Sale in Westport CT

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