By Dave Matlow

While there was a slight uptick in the number of Westport demolition permits issued in 2017 over the previous year, the five-year trend is definitely down — by almost 30 percent.

Westport teardowns have slowed due to a variety of reasons, including a new supply of “gently used houses.” (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

And a local builder says the reasons are pretty clear — oversupply of homes on the market, longer train commutes, including more traffic jams getting to the train stations, more local government regulations, and unrealistic price expectations on the part of selling homeowners.

The figures tell the story. The Westport Building Department said in 2013, 107 demolition permits were issued. The next year, 2014, saw an increase to 124, but 2015 saw a drop-off to 104, then an even bigger fall in 2016 to 68, and a finally a slight increase in 2017 to 76.

Rob Haroun, owner of Westport-based SIR Development and one of the more active builders in Westport, also cited a new supply of “gently used houses” that are now on the market.

By Judy Szablak

It was an active year for Westport real estate, with 433 single-family home sales representing an increase in unit sales of 18 percent over 2016.

Featured Home: This home at 267 Sturges Highway is listed at $1,150,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis Westport/ Leslie Clarke Homes.

Average pricing has remained stable year-over-year, and that is not necessarily a bad thing, and should not be construed as such.

Sixty-six additional sales with a total townwide volume of $663,692,969 were reported through the SmartMLS in 2017, which added over $103 million in additional closed volume over 2016.

Sales activity is an important indicator of continued growth, regardless of whether the average sales price reflects an increase.

By Judy Szablak

In addition to the price, earnest communication and timeliness are very important aspects of negotiating your Westport home.

Featured Home: This home at 6 Hunting Lane is listed at $1,629,000. (CLICK TO ENLARGE) Photo courtesy of Westport Residential

A buyer’s or seller’s motivation is a key component in any negotiation, along with conveying information to the other party.

If and when delaying tactics are utilized, they do not necessarily contribute to a positive outcome, and that goes for either party.

A seller risks losing an offer while waiting for another bid which may or may not come in, as the current buyer can read between the lines and sour on a property that he/she otherwise would have liked to purchase.