By Judy Szablak
Special to WestportNow
In its simplest form, emotion is one of the most important aspects of buying or selling a home in Westport, and can either make or break a sale.
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Featured Home: This home at 38 Crawford Road is listed at $1,750,000. (CLICK TO ENLARGE) Photo courtesy of William Pitt Sotheby’s Westport
Sellers’ emotions can cause them to overprice a home, and place a dollar value on their sentimental attachment to the house as well as its décor and furnishings, which should be minimized and/or neutralized. While the sentiment is understood, none of that is conducive to a timely sale, or helpful in staging a home for today’s market.
Buyers’ emotions can be triggered easily in either a positive or negative way upon entering a home. Excess furnishings, less than neutral décor and/or unpleasant odors do not lend themselves well to a purchasing decision.
Buyers look for “that feeling” of comfort and peace when they enter a home- without it, they won’t make the decision to buy.
It is an agent’s job to showcase the home as well as it can be presented online, and that means invoking positive sentiment. Photos and property descriptions should highlight features that spark emotion.
The progression of photos is just as important as the photos themselves. The first few photos determine whether the buyer wants to view the home further. Likewise, property descriptions that start out bland or are not well thought out can cause a buyer to prematurely dismiss it. There is just a short window of opportunity to capture a buyer’s interest online, and entice that buyer to visit the home.
As trusted advisers and savvy marketers, the best real estate brokers are skilled at managing the first impressions either online or in person to create the emotion needed; both of which are crucial to effect a timely purchase or sale.
Market Stats
There are now 329 homes that are actively on the market, which is on par with last year at this time.
These currently available properties have been listed for an average of 143 days, with a cumulative market time of 236 days, and that is an increase of about two weeks over last year. The average list price of $2,196.415 is up by $43,000 from a year ago, however the median price is at $1,490,000, and is down $100,000 from this same time last year.
Fourteen new listings came on the market in the last seven days, which represents an increase of three properties over last year. Two properties came back on the market after being under deposit, or temporarily withdrawn. There were 17 properties in the past week that had a price change, which has increased by three homes as compared to last year at this time.
A Tudor style home on 114 Beachside Avenue is the highest priced property listed for sale at $22.5 million and is an 8,482 square foot waterfront property comprised of three lots on 7.67 acres with 365 feet of waterfront.
The lowest available priced single family is a 1,104 square foot ranch on .10 acres at 19 Crescent Park Road. The home was built in 1983, has three bedrooms, two full baths, and has recently been reduced to $350,000.
There are currently 66 homes under some stage of deposit in town, and include 24 homes under the initial stage of deposit, and another 42 scheduled to close. Six homes took an initial deposit this past week, another six entered pending status, and our townwide deposits are up by four units over last year at this time.
An 1,857-square foot ranch on 13 Covlee Drive closed this past week at 95.24%t of asking price at $1.9 million after being on the market for 967 days The direct waterfront home is on .56 acres with exceptional views of Bermuda Lagoon.
Condos: There are 25 condominiums that are currently available, including a new luxury development on Wilton Road which has placed three of its 12 units on the market. Townwide, condos have been listed an average of 88 days, with a cumulative market time of 119 days. The average price is $898,783 which takes into account the three luxury units ranging in price form $2.6 -$3.45 million. Thee median price is $635,000, and is up by $106,000 from last year at this time.
The highest priced condo in town is listed at $3,450,000, and is a two-bedroom, two and one-half bath luxury home on the third floor of the new Bankside House on the Saugatuck River, and has 2,432-square feet of living area. The lowest priced unit for sale is a one-bedroom unit with 750-square feet on 35 Bridge St. at The Saugatuck, which is an adult complex and listed at $168,300.
No new listings were entered in the last seven days, and no properties came back on the market. No homes had a price change, and no homes entered the initial deposit stage. Two homes entered pending status.
There are no properties currently under the initial stage of deposit townwide, and the five that are scheduled to close have an average price of $695,200.
A town house at 301 Post Road East closed last week at 95.57% of asking price. The two bedroom two bath condo is one of 20 units in the complex at Playhouse Square and was on the market for 212 days.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 103 homes or apartments available.
The median price for townwide annual rentals is currently $4,500, which is down $250 from this time last year. The average price is $5,494 per month, which is down about $1,000 per month as compared to last year at this time. These year round rental opportunities have been on the market an average of 62 days.
The highest priced rental is at 5 Charmers Landing at $26,000 per month. The 11,759-square foot home on 1.12 acres has five bedrooms, six and one half baths, and includes a private peninsula, over 700-feet of shoreline, and a deep water dock.
The lowest priced rental is a studio apartment at 8 Cross St. with heat and hot water included, and is listed at $1,295 monthly.
There are 39 short-term rental opportunities that are available, and 9 Cockenoe Drive is the highest priced home and is listed at $45,000. This 1,800-square foot ranch home with three bedrooms has a private beach and panoramic views of the Westport and Norwalk islands.
Seasonal rental opportunities are down by 22% from last year at this time.
Seasonal/short term rentals currently have an average price of $10,457 and a median price of $5,9990, with an average market time of 125 days.
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 — Listing information and data is compiled from the SmartMLS and represents listings and activity through our statewide MLS system. Private sales are not included in these statistics.
Featured Home
This home at 38 Crawford Road is listed at $1,750,000.
This 18-room custom stone and shingle colonial in the sought after Old Hill area is grand in scale, custom millwork and trim, and amenities.
The impressive two story foyer with radiant heated marble floors has gently arched entryways to the living room with fireplace on the left, and the dining room on the right. Both rooms have double perimeter walnut inlaid hardwood flooring.
The Provincially styled chef’s kitchen with granite counters, Wolf and Sub-Zero appliances and two dishwashers also has a walk-in pantry, a breakfast bar with beverage fridge, and an informal dining area with French doors that lead out to the 456 square foot deck overlooking the 2.99 acre level and picturesque property.
The family room is open to the breakfast area and has a handsome floor to ceiling fieldstone fireplace with raised hearth and sliders to the deck as well.
Upstairs, the substantially sized master bedroom suite with fireplace and sitting room includes a luxurious marble and onyx bath with whirlpool and frameless glass shower, two walk-in closets with built-in cherry cabinetry and a separate dressing room.
Four additional en suite bedrooms are on this level and a playroom/recreation ensure that all have a place of respite on the second floor.
The walkout lower level adds another 2,470 square feet of living area to the 6,640 square foot home, and includes a family room which leads out to the 465 square foot patio, an exercise area, recreation room and another en suite bedroom which is perfect for nanny or au pair quarters.
Extras and items to note — six bedrooms, six full and two half baths, three fireplaces, main level office and library, 10 foot ceilings on the main and upper levels, underground utilities, hydro-air heating and cooling, four car heated garage, in-ground Gunite pool and spa
Annual taxes are $30,360.
Listing/photo courtesy of William Pitt Sotheby’s Westport.
(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.
