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Real Estate

Marpe Appoints Real Property Committee

Westport First Selectman Jim Marpe announced today the establishment of a Real Property Committee to act as his advisor for property purchases and leases.

It will also advise on acquisitions and sales of property for open space, municipal and recreational uses, conservation, rights of way and investments, the announcement said.

Appointed committee members are: former Selectwoman Helen Garten, Marty Fox and Iain Bruce.

According to Marpe, the committee expands the mission of the Land Acquisition Committee established by former First Selectwoman Diane Farrell during the late 1990s.

Comings & Goings: Dragone Classic Motor Cars to Orange

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Dragone Classic Motor Cars, 176 Post Road West, is moving to Orange after more than seven years at its present location. Manny Dragone, president, said the move would allow consolidation of its showroom in Westport and repair and restoration facility in Bridgeport to a 66,000-square foot facility. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

WestportNow Teardown of the Day: 111 Harbor Road

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An application for a permit to demolish the house at 111 Harbor Road on Westport’s Saugatuck Shores is in process. Built in 1927, the two-story contemporary has 2,963-square feet, is situated on a .22-acre property and changed ownership in November, 2017 for $2.2 million.. 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: Ann Taylor Closes on Main Street

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After more than a half century presence on Westport’s Main Street, woman’s clothier Ann Taylor at 97 Main St. has closed, the latest major corporate retailer to leave the street. Other recent closings include Nike, Allen Edmonds, and Diptyque. Ann Taylor is part of the Ascena Retail Group Inc., whose other brands include Loft and Lane Bryant, among others. (Loft has an outlet at 17 Main St. in Westport.) There were rumors that the Ann Taylor space was of high interest to Sundance Catalog, a leading lifestyle brand retailer of women’s and men’s apparel, footwear, jewelry and home decor. It was founded in 1989 by famed actor and director Robert Redford, a former Weston resident. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Westport Property Transfers April 2 – 6 2018

Westport property transfers as reported by the Town Clerk’s office for the period April 2 - 6, 2018:

Gregory and Sheri-Lynn Valente to Luis G. Marcela Chapa, 15 Ridge Drive, $1,200,000WNproperty.jpg

Ashesh Bakshi and Yamini Menon to Michael Zambon and Kristin Abrahams, 68 Old Road, $755,000

Tyree Montague, Danny Lee Montague to Christopher and Sarah MacDonald, 78 Old Hill Road, $1,850,000

Beachwood Properties LLC to Andrew and Melissa Ferrara, 6 George St., $860,000

Comings & Goings: Riverside Barber Returns to Saugatuck

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Riverside Barber, one of the oldest barber shops in Westport, is returning to Saugatuck. Since 2016, it has been at 231 Post Road West, above Greg & Tony Salon. Its 500-square foot new space at 1 Treadwell Ave. has recently been occupied by Westport Florist. Last year, Riverside Barber celebrated the 90th anniversary of its 1927 founding on Riverside Avenue in Saugatuck by John Santella. He was followed by his son Lou Santella and then owned by Pat Vigilio since November 1999 when he relocated the business to Post Road West. Vigilio recently retired and relocated to Florida, according to current owner Tammy Stefanidis. She said she worked for Vigilio for seven years until 2006 and then spent the past 10 years as a homemaker raising her family. (CLICK TO ENLARGE) WestportNow.com photo

Real Estate Report: Plenty to be Grateful For

By Judy Szablak

Special to WestportNow

There is plenty to be grateful for in Westport’s real estate market.

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Featured Home: This home at 2 Mimi Lane is listed at $1,795,000. (CLICK TO ENLARGE) Photo courtesy of William Pitt Sotheby’s-Westport

Inventory is up over 5 percent from last week, there were 14 single-family homes that closed, and 15 homes entered varying stages of deposits in the last seven days.

It is true that the average and median home prices have declined recently, however one must take into account the inventory that those figures represent. In other words, there just happens to be more inventory available in lower price pockets.

Lower inventory prices do not necessarily indicate a decline in overall value. When the inventory ranges and corresponding sales are higher, the average and median prices will be reflective.

Westport Real Estate Price Changes

Westport real estate price changes over the past week:

8 Kirock Place                 $669,500->$649,900
243 Sturges Highway         $699,000->$689,000
3 Cottage Lane               $739,000->$734,500
6 The Glen                   $839,000->$835,000
1 Peaceful Lane               $929,000->$895,000
62 Evergreen Ave.        $1,079,000->$995,000
2 Trailing Rock Lane       $1,299,000->$1,199,000  
18 Highwood Road         $1,498,000->$1,399,000
5 Ridgewood Lane         $1,628,000->$1,600,000  
6 Prospect Road           $1,699,000->$1,649,000  
17 Westway Road         $1,879,000->$1,799,000  
44 Island Way             $2,899,000->$2,495,000  
312 Compo Road South   $2,599,000->$2,549,000
5 East Meadow Road     $3,200,000->$2,950,000  
3 Hillside Road           $3,499,000->$3,299,000
—Judy Szablak

Westport Property Transfers March 26 – 30 2018

Westport property transfers as reported by the Town Clerk’s office for the period March 26 - 30, 2018:

27 Soundview LLC to Bluewater Soundview LLC 27 Soundview Drive, $2,400,000WNproperty.jpg

Michael T. Allen to Nikunj J. Gandhi, 32 Regents Park, $566,000

Nest-Blue Ribbon LLC to Dariush and Randi Nazem, 15 Blue Ribbon Drive, $2,700,000

Julie L. Wrght Estate to Huis Investments and Consulting LLC, 20 Oak View Circle, $278,000

Real Estate Report: Westport Market Stronger Than Year Ago

By Judy Szablak

Special to WestportNow

The first 100 days of 2018 have brought about a stronger market in Westport than last year.

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Featured Home: This home at 2A Whippoorwill Lane is listed at $2,198,000. (CLICK TO ENLARGE) Photo courtesy of The Riverside Realty Group/ Bross Chingas Bross

According to our Multiple Listing Service, the 94 single family closings that have already occurred this year represent a 27 percent increase of unit sales for the same time period in 2017.

That’s a hefty increase, especially when inventory has been lower this year.

The amount of activity in different price pockets often point to a trend, if reviewed closely, but they are not at this time.