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Tuesday, October 27, 2015

Real Estate Report: Hunt Club Healthiest Area

By Judy Szablak

The Hunt Club area of Westport is the healthiest area market-wise in the entire town, followed by the Old Hill and Greens Farms neighborhoods.

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Featured Home This home at 1 Ulbrick Lane is listed at $1,425,000. (CLICK TO ENLARGE) Photo courtesy of William Pitt Sotheby’s/Westport

The top three performing areas in town comprise just over 27 percent of the current single family inventory, and accounted for 36 percent of all the homes sold within the last year that were reported to the Greater Fairfield County Multiple Listing Service.

Currently, there are just 28 homes available for sale in the Hunt Club area including seven newly built homes, and 49 homes sold in the last year at an average price of $1,585,757. The average sale price to list price ratio was 97.1 percent over this period. These facts combined make it the strongest (and healthiest) market in town.

There are 25 homes available in Old Hill, and 36 homes sold in the last 12 months at an average price of $1,464,831. Currently, there are six newly built homes available that bring up the average list price of homes on the market in this area to $2,299,455. The average sale price to list price ratio was 94 percent.

The Greens Farms area has 42 homes for sale at an average price of $2,713,499, including 10 that are newly built or in process. Forty-six homes have sold in the last year at an average price of $2,048,973 with an average sale price to list price ratio of 91.1 percent.

Market Stats

There are now 351 homes that are are actively on the market. These currently available properties have been listed for an average of 121 days, with a cumulative market time of 200 days. The average list price is now $2,243,594 and the median price is fairly steady at $1,749,000.

A contemporary home on 50 Compo Mill Cove is the highest priced home for sale at $13 million and the lowest available priced home is a three-bedroom home on Crescent Park Road for $330,000.

Just 10 new listings came on the market in the last seven days, and two properties came back on the market after being under deposit, or temporarily withdrawn. Twenty-nine properties had a price change.

Seven properties have gone under the initial deposit stage, which we call CTS, and 11 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 11 properties was $1,289,082. There are currently 20 homes in CTS status throughout Westport, and another 46 properties scheduled to close town-wide, with an average price of $1,727,409.

Closings: There were five single family homes reported as sold in the last week, and they were listed on average at $1,116,200, with a market time of 81 days. There were 77 status changes in the last seven days.

Condos: There are 10 condominiums that are available, and they have been listed an average of 92 days. Their average listing price is $641,750 and the median price is $623,750.

The highest priced condo in town is listed at $945,000 and is a two-bedroom home located at Lansdowne, and the lowest priced unit for sale is a one-bedroom home at Whitney Glen for $385,000.

There were no new listings in the past week, and no homes came back on the market after being under deposit. There were no price changes, and one property entered into the initial stage of deposit. No homes entered into pending status.

There is one property town-wide currently in CTS status, and there is one home scheduled to close that is listed at $550,000.

One sale was reported during the last week, and was listed at $519,000. There were three status changes.

Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 81 homes or apartments available. The median price is $4,000 per month and the average price is $4,633 per month. These year round rental opportunities have been on the market an average of 65 days.

There are 22 short-term rental opportunities that are available, and they have been on the market an average of 53 days. Their average price is $6,673 and the median price is $5,375. 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 1 Ulbrick Lane is listed at $1,425,000.

This wonderfully sunlit and pleasantly refreshing six-bedroom colonial cape is located on an established cul-de-sac in the Hunt Club area.

Charm abounds from the outside, and this 11-room home has been perfectly remodeled and expanded since it was originally built in 1954.

Almost 4,500-square feet has been thoughtfully and tastefully redesigned to meet today’s exacting standards, incorporating all of the flexibility one would need along with the amenities one would require, while simultaneously maintaining its original charm. 

The living room has custom mill work and crown molding, and is open to the family room, which has a fireplace with raised hearth. These adjoining areas create a feeling of open expanse, and offer a wonderful flow.

A banquet-sized dining room has more mill work, and double walnut perimeter inlaid hardwood flooring.

The custom kitchen has top of the line stainless steel appliances, granite countertops, and a center island that seats three comfortably. The breakfast nook alcove overlooks the lushly landscaped and level one acre lot.

There are also two bedrooms on the main level, which could also be used as a library and office, an au pair suite, or easily converted to a first floor master bedroom, if so desired.

Upstairs, the current master suite has an open sitting room with charming built-ins at the second floor landing, an attractive bath with whirlpool and separate glass enclosed shower, and a large walk-in closet.

Three additional bedrooms are down the hall, as well as a bonus room, which provides even more flexibility for another bedroom, or additional gathering area. 

The walk-out lower level has a game room with floor to ceiling brick fireplace, and an additional family room with hardwood floors and French doors leading outside to the 15 feet by 22 feet flagstone patio.

Schools—Long Lots, Bedford, Staples

Extras and items to note—public water supply, city sewer scheduled for spring 2016, four full and one half baths, audio system, security system, hydro-air heating system, 31-foot covered front porch, two fireplaces, finished walk-out lower level has 884-square feet of living area, 34 feet by 20 feet Trex deck, room for pool.

Annual taxes are $14,740.

Listing/photo courtesy of William Pitt Sotheby’s/Westport.


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 10/27/15 at 10:11 PM  Permalink



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