Saturday, March 02, 2024

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Real Estate Report: Westport a Standout

By Judy Szablak

Westport was the clear bright spot in a New York Times article last weekend about the state of the real estate market in Fairfield County.

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This featured home at 3 Cooper Lane is listed at $3,995,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis Westport/Jillian Klaff Homes

This is in contrast to the latest Case-Shiller report, where our MSA was among the 16 out of 20 areas that are tracked to have seen new average low prices for the month of January. 

The Case-Shiller index of 10 MSAs and the 20-city index are now at approximately 34 percent below their 2006 peaks and prices are at 2003 levels.

“Despite some positive economic signs, home prices continued to drop,” said David Blitzer, chair of the Index Committee at S&P Indices.

Finance Board Okays $100.2 Million Ed Budget

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In contrast to spending more than five hours over two nights debating the $73.9 million municipal budget, the Board of Finance tonight took under two hours to unanimously approve the $100.2 million education budget before a full house. A motion to trim $200,000 was made and then withdrawn. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Westport February Unemployment Unchanged at 5.7%

Westport’s unemployment rate in February was 5.7 percent, the same as in January, the Connecticut Department of Labor said today.

The department said the number of Westport unemployed in February was 706, down from 713 in January.

The February labor force in Westport numbered 12,439, up from 12,414 in January, and there were 11,733 employed, up from 11,701 employed in January, it said.

The lowest Westport unemployment rate in recent years was 2.2 percent in December 2006, according to state records.

Westport Police Involved in $300G Drug Bust

Westport police participated in the arrest of three persons in Norwalk and seizure of cocaine, heroin, firearms and almost $300,000 in cash, federal authorities announced today.

Federal prosecutors said the case unfolded when New York City detectives conducting a narcotics trafficking investigation contacted the Drug Enforcement Administration authorities in Bridgeport.

As a result, federal and local officials, including an officer from the Westport Police Department, raided two addresses in Norwalk on Wednesday and seized the contraband, the U.S. Attorney’s Office and the DEA said.

Inside one bedroom, officers located a .9-mm firearm, a magazine with four rounds of ammunition and approximately 275 grams of suspected cocaine powder, an announcement said.

Tractor-Trailer vs Car Sends One to Hospital

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The driver of a Toyota was sent to Norwalk Hospital today following a crash with a tractor-trailer on I-95 southbound between Exits 17 and 18 in Westport, said Assistant Chief Robert Kepchar. The car was extensively damaged and the tractor-trailer had an empty fuel tank partially ripped off, he said. But there was no leak. The car’s driver was sent to the hospital for evaluation. (CLICK TO ENLARGE) Contributed photo

Going Down: 157 Riverside Ave.

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The house at Westport’s 157 Riverside Ave., across from Saugatuck Elementary School, was demolished today. Built in 1933, the 1 1/2-story cape had 1,366 square feet, is situated on a .18-acre property and changed ownership in September 2011 for $550,000. The house gained notoriety when the 70s rock band REO Speedwagon stayed there and released a song on their first album called “157 Riverside Avenue.” It was the WestportNow Teardown of the Day on Sept. 5, 2011. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Staples Coach Back in Court in Porn Case

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Michael J. Pickering, the Staples High School freshman football coach accused of giving a password to an Internet porn site to his players, was back in Norwalk Superior Court today to face three counts of risk of injury to a minor. Pickering, who pleaded not guilty in December, had his case continued to April 26, and he remains free on $50,000 bond, court officials said. With him is attorney William A. Pelletreau. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Spotted Horse Debuts to Large Crowds

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Westport’s newest restaurant entry, The Spotted Horse Tavern, made its debut Wednesday night on Church Lane with a menu sampler and champagne. Located in the preserved and renovated 1802 federal-style Sherwood House, the restaurant is owned by Kevin McHugh and Tommy Febbraio, both Staples High School graduates who operate the popular Gray Goose Café in Southport. (CLICK TO ENLARGE) Helen Klisser During for WestportNow.com