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Real Estate Report: Westport Outpaces Area

By Judy Szablak

The National Association of Home Builders/First American Improving Markets Index (IMI) for October shows 103 improving markets across the country. The record number represents the largest number of metros on the IMI since it was created one year ago.

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This home at 23 Burnham Hill is listed at $3,495,000. (CLICK TO ENLARGE) Photo courtesy of Coldwell Banker Riverside/Westport Beach (+) Country Homes.

Ninety-two metros were retained on the list from the month before, 11 new markets were added, and seven were removed. The New York Metropolitan Statistical area is not included on October’s list.

It’s no secret that the New York metro area real estate market has been struggling to keep up with some other parts of the country. However Westport’s numbers are more encouraging than the metro area as a whole.

While the 286 sales as reported year-to-date by the Greater Fairfield County CMLS are down by almost 5 percent from 300 one year ago, the average sales price has increased by over $60,000, or just under 5 percent to $1,423,193.

WestportNow Teardown of the Day: 11 Silver Brook Road

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An application for a permit to demolish the house at Westport’s 11 Silver Brook Road, off Easton Road, is in process. Built in 1958, the 1-1/2 story conventional has 2,532 square feet and is situated on a one-acre property.  Because the house was built more than 50 years ago, the application will be reviewed by the Westport Historic District Commission. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Comings & Goings: Ski Shop to PRE

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Westport Ski and Sport opens Monday at 877 Post Road East at the intersection of the Sherwood Island Connector, according to co-owner Chad Gagnon (above). Gagnon described the store as “a high end boutique” featuring ski apparel with familiar brands such as Kjus, Bogner, M.Miller, Obermeyer, Arcteryx, Marmot, Prana, and Exofficio.  “We are a full service ski shop offering ski rentals, leasing packages, servicing and repairs on all equipment,” he said. “In the summer we will sell yoga and travel wear, beach cruisers and kid’s bikes, along with bike servicing.”  Gagnon said the store is owned by the Alberino family who started the former New Canaan Ski and Sport shop 39 years ago and the Ridgefield Ski and Sport shop at 197 Ethan Allen Highway in 2004. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Westport Property Transfers Sept. 24 – 28, 2012

Westport property transfers as reported by the Town Clerk’s office for the period Sept. 24 -  28, 2012:

George and Dianna Andrusyshyn to Michael and Jennifer Cingolani, 5 Woods Grove Road, $580,000WN property.jpg

Jonathan S. Lach and Sally A. Sarsfield to Holly R. Wilkinson, 9 Broadview Road, $1,511,750

Ryan Patrick and Kara Holden Devlin to Jennifer H. and John J. Roh, 1 Crow Hollow Lane, $491,000

Ronald D. and Kaye C. Leong to Zoltan Toth, 34 Little Fox Lane, $861,000

Banker: Westport Housing Market Performing ‘Well’

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Fairfield County Bank President Daniel Berta told the Westport Sunrise Rotary Club today that “housing is bringing us out of the recession and the Westport housing market is performing well—better than other nearby communities such as Weston and Ridgefield.” Berta pointed out that because consumers represent 70 percent of the gross national product, house purchases are a significant measurement of emergence from a recession. In reference to the critical role of community banks, Berta said these institutions represent 50 percent of loans to businesses under $5 million, which he categorizes as small businesses. Dave Matlow for WestportNow.com

Real Estate Report: Westport Tops in New Construction

By Judy Szablak

Westport has more newly constructed homes listed for sale than any other town in Fairfield County.

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This home at 3 Tupelo Road is listed at $2,299,000. (CLICK TO ENLARGE) Photo courtesy of Halstead Properties/Westport

According to the Greater Fairfield County CMLS, there are currently 313 homes available for sale in Westport, 18 percent of them either newly built, or in some phase of construction.

Shelton comes in at a distant second with just 34 new homes available.

The average size of the 57 new construction homes in Westport is 5,895 square feet, and the average price is $2,689,840, which is about $472 per square foot. The smallest newly built home is 2,200 square feet and the largest is 9,122 square feet.

WestportNow Teardown of the Day: 40 Bauer Place Ext.

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An application for a permit to demolish the house at Westport’s 40 Bauer Place Extension, off Old Road, is in process. Built in 1954, the 1-1/4 story cape has 1,357 square feet and is situated on a .30-acre property.  Because the house was built more than 50 years ago, the application will be reviewed by the Westport Historic District Commission. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

WestportNow Teardown of the Day: 43 Westfair Drive

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An application for a permit to demolish the house at Westport’s 43 Westfair Drive, off Post Road East, is in process. Built in 1953, the 1-1/2 story cape has 999 square feet, is situated on a .29-acre property and changed ownership last month at $465,000. Because the house was built more than 50 years ago, the application will be reviewed by the Westport Historic District Commission. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Comings & Goings: Citgo Station Up for Sale

By Dave Matlow

After 80 years in one family, Westport’s Citgo gas station, 786 Post Road East, will go up for sale next week.

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Kurt Osterberg has worked at the gas station his grandfather founded since 1986. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Kurt Osterberg, grandson of Joe DeMattia, the founder of the business, and an employee since 1986, confirmed the divestiture plan and merely cited the economy. The current owner of the business is Osterberg’s mother, Gloria, 75, who resides in Niantic with her husband Ken, 80.

Osterberg said when his grandfather started the business at its current location in 1931 or 1932, they pumped Standard Oil gas.

Then in the late 1930s, the station switched to the Shell brand which continued for about 50 years, then converted to the Texaco brand for about 10 years and then Citgo from the mid-1990s, he said.