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Wednesday, May 17, 2017

Real Estate Report: Contemporary Surprise

By Judy Szablak

Special to WestportNow

It may be no secret to some that colonials are by far and away the best selling style homes in Westport.

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Featured Home: This home at 12 Hedley Farms Road is listed at $1,999,000. (CLICK TO ENLARGE) Photo courtesy of Berkshire Hathaway Home Services Stamford.

What comes as a unique surprise is that contemporary-styled homes are second in line, which has not been the case in the past.

There has been a general “pecking order” of sorts for the most sought after homes, and contemporaries were almost always relegated to the bottom of the list. That’s just not the case any more, or at least this year.

According to our Multiple Listing Service, 14 percent of all single family home sales were of the contemporary style, which was a higher percentage than cape cods, or ranches.

The highest priced contemporary home sale this year was on 8 Bermuda Road, which closed at $3.65 million. The largest that closed was on 28 Little Fox Lane with 9,260-square feet of living area.

The transitional trend that has become more prevalent among newer colonials incorporates some contemporary flair, and in the process gives a nice boost in marketability to existing contemporary homes, which commonly feature crisp lines, added glass and multiple angles.

Market Stats

There are now 365 homes that are actively on the market, and these homes have been listed for an average of 102 days, with a cumulative market time of 197 days. The average list price is $2,160,657 and the median price remains at $1,699,000.

A home on Beachside Avenue is the highest priced property for sale at $28 million, and the lowest available priced single family is a three-bedroom home on Crescent Park Road for $335,000.

Twenty-one new homes coming on the market in the last seven days. Five properties came back on the market after being under deposit, or temporarily withdrawn. Twenty-seven properties had a price change.

Eleven properties have gone under the initial deposit stage, which we call CTS, and another 13 properties went into pending status, which means that the conditions have been satisfied, and the property is scheduled to close.

The average price of those 13 pending properties was $1,576,923. There are currently 40 homes in CTS status throughout Westport, and another 78 properties scheduled to close townwide, with an average price of $2,056,081.

Closings: There were nine single-family homes reported as sold in the last week, and they were listed on average at $1,631,444 with an average market time of 126 days. There were 99 status changes in the last seven days.

Condos: There are 10 condominiums that are available, and they have been listed an average of 75 days. Their average listing price is $761,990 and the median price is $787,000.

The highest priced condo in town is listed at $1,275,000 and is a three-bedroom home located at Terra Nova Circle, and the lowest priced unit for sale is a one-bedroom home on Main Street for $325,000.

There were two new listings this week, and no homes came back on the market. There were no price changes, and two properties went under the initial stage of deposit. One property entered pending status, and was listed at $499,000

There are three properties townwide that are currently in CTS status, and there are three properties scheduled to close, with an average list price of $615,667.

One sale was reported during the last week, and was listed at $775,000. There were seven status changes.

Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 87 homes or apartments available. The median price is $5,500 per month and the average price is $6,186 per month.

These year-round rental opportunities have been on the market an average of 57 days.

There are 71 short-term rental opportunities that are available, and they have been on the market an average of 83 days. Their average price is $15,692 and the median price is $14,500.

Please note that seasonal rental prices are sometimes listed as an aggregate price for the season, or they can be listed as per the monthly rental cost.

Source — Market data is compiled from the GFC-CMLS and represents activity through our local MLS system. Private sales are not included in these statistics.

Featured Home

This home at 12 Hedley Farms Road is listed at $1,999,000.

This custom-designed Greens Farms contemporary was the realization of a dream home, and takes full advantage of significant sunlight throughout its 4,664-square feet of living area.

Set on 2.01 professionally landscaped acres, with views of Ardel Pond, and bordering 44 acres of bird sanctuary owned by the Audubon Preserve, the private and peaceful surroundings enhance this truly unique 11-room home.

An open floor plan that suits today’s lifestyle is highlighted with a magnificent two-story living room with fireplace that is sunlit through expansive use of glass and architectural detailing.

The dining room is open to the floating staircase, and a wall of glass and sliders to the deck afford beautiful views of the level property.

The sleek kitchen has a glass block wall, center island, pantry, and sunlit breakfast area.

The family room also has a wall of windows and sliders to a deck.

The luxurious main level master suite is a rare find indeed, and has its own dressing room, multiple closets, and a neutral marble bath with whirlpool and steam shower.

Three more en suite bedrooms are upstairs, all with exceptionally large closets.

Additionally, cathedral ceilings in the second floor bonus room, and an open loft with fireplace that is perfectly suitable for an art studio or library add to the versatility of an already amazing space.

Extras and items to note — four bedrooms, four and one half baths, two fireplaces, security system, heated Gunite pool and full pool bath, steps to Southport Beach, and the Greens Farms train station.

Annual taxes are $23,221.

Listing/photo courtesy of Berkshire Hathaway Home Services Stamford.


Judy Szablak
(Editor’s Note: Judy Szablak of Coldwell Banker Westport — Riverside, Fairfield County CT Realtor since 1984 is author of “The Art of Buying or Selling a Home,” and featured on HGTV’s real estate show, “Desperate to Buy.” Email .(JavaScript must be enabled to view this email address) or visit her online at http://www.CThomesAndRealEstate.com.

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Posted 05/17/17 at 09:13 PM  Permalink



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