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Thursday, August 21, 2014

Real Estate Report: Coleytown and Compo Most Active

By Judy Szablak

The most active markets for new construction in Westport are in the Coleytown and Compo Beach neighborhoods. Currently, 22 of the 57 newly built homes are in these two areas.

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Featured Home: This home at 12 Silent Grove in the Coleytown area is listed at $2,250,000. (CLICK TO ENLARGE) photo courtesy of Coldwell Banker Westport-Riverside.

Interestingly, though, the Hunt Club area has had a highest turnover rate in the last year for new home sales, which may very well be a product of the available land in that area, or the number of opportunities for builders to tear down and rebuild.

Combined, the Greens Farms, Coleytown and Compo Beach areas comprised almost 40 percent of all new construction sales in the last year, and together with the Hunt Club, made up nearly two-thirds of all new construction sales in town.

Does that indicate that one area, or that these few specific areas are that much in demand? Certainly, a newly built home in Westport has a great amount of appeal, however there is only so much property.

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