By Judy Szablak
Special to WestportNow
Obtaining and relaying feedback is fundamental to selling or buying a home in Westport, but don’t let the emotional aspect upset you or be a deterrent.
Featured Home: This home at 25 Wright St. is listed at $999,000. (CLICK TO ENLARGE) Photo courtesy of Compass Connecticut/KMS Partners
The benefits are far reaching for both, and include time and money.
For sellers, the reasoning why a buyer didn’t place an offer on their home can greatly assist in marketing or positioning the home at its best in the marketplace.
An issue or a concern cannot possibly be addressed without knowing the “why.” If and when a particular reason or reasons come up repeatedly, it is a strong signal for a homeowner to address it, whether it be cosmetics, deferred maintenance, or an adjustment in price
For buyers, it is important to feel comfortable enough with their agent to express feedback on properties, thereby maximizing each home’s potential to be a fit for their needs. Your agent will take all of your comments into account and tailor your home search that much more effectively and enable the process to that much more efficient.
The key is communication. Of course, positive feedback is always welcome. However, negative feedback is not impolite, and should not be construed as such.
Sellers need not take offense that buyers don’t care for their home for any number of reasons. The home has served you well, you have memories there. Selling your home is a business transaction, even though there is emotion attached to it.
Buyers should understand that it’s not rude to tell your agent why a particular home doesn’t meet your criteria. You are not hurting their feelings by being vocal. Agents want you to be happy in your new home, and will use that feedback to your advantage.
If an agent representing a seller is not relaying feedback, or not trying to obtain it, that home can languish on the market for something that could have easily been addressed.
A buyers representative can also shorten the home search process considerably by knowing the specifics as to why a home doesn’t “fit.”
Keep an open dialogue.
Market Stats
There are now 299 homes that are actively on the market, which is 10 homes fewer than it was last year at this time.
These currently available properties have been listed for an average of 151 days and have a cumulative market time of 259 days. While the days on market is above where we were last year at this time by 23 days, the cumulative days on market has increased by 47 days.
The average list price of $2,148,319 is up by over $132,000 from a year ago, and the median price of $1,449,000 is down $46,000 from this same time last year.
Seven new listings came on the market in the last seven days, which represents an decrease of 10 properties over last year. Two properties came back on the market after being under deposit, or temporarily withdrawn. There were 15 properties in the past week that had a price change, which decreased by four homes as compared to last year at this time.
A Tudor-style home on 114 Beachside Ave. is the highest priced property listed for sale at $20 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 an 840-square foot ranch on .12 acres at 17 Hale St. which is listed for $385,000. Built in 1939, the home has two bedrooms, one bath, and a partially finished lower level.
There are currently 56 homes under some stage of deposit in town, and include 17 homes under the initial stage of deposit, and another 39 scheduled to close. Five homes took an initial deposit this past week, another eight entered pending status, and our townwide deposits are up by five unit over last year at this time.
A contemporary home at 7 Woodside Lane took an initial deposit after a cumulative market time of 843 days. The four-bedroom, three bath home has approximately 3,400 square feet of living area and is on a 1.01 acre lot. Originally priced at $1.265 million, the home had 17 price adjustments.
The home at 7 Pioneer Road entered pending status, and took its initial deposit after just four days. The 3,143-square foot contemporary four-bedroom ranch listed at $1,049,000 has direct water frontage on Nash’s Pond, and was also marketed as land.
Closings: There were three sales that were reported during the last week, and that was up by six units from last year. The average sale price to list price ratio was 96%
One home sold over list price and was located at 7 Melon Patch Lane. The 8,717-square foot custom home closed at $2.9 million, which was $51,000 over asking price. The 2005-built colonial has seven bedrooms, eight full and two half baths, four fireplaces, and a generator.
Condos: There are 26 condominiums that are currently available, including three units in a new luxury development. Townwide, condos have been listed an average of 117 days, with a cumulative market time of 169 days. The average price is $877,349. The median price is $672,450, as opposed to last year’s median price of $698,000.
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 Street at The Saugatuck, which is an adult complex and listed at $162,800.
Two new listings entered the market in the last seven days, and no properties came back on the market. One home had a price change, and no homes entered the initial deposit stage. One homes entered pending status.
There is one property currently under the initial stage of deposit townwide, and six that are scheduled to close which are listed on average at $837,967
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 97 homes or apartments available.
The median price for townwide annual rentals is currently $4,153 which is on par with last year at this time. The average price is $5,080 per month, which is up by $53 from last year at this time. These year round rental opportunities have been on the market an average of 79 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 450-square foot studio apartment at 42 Richmondville Ave. with a one-car garage, and is listed at $1,250 monthly.
There are 49 short-term rental opportunities that are available, and 125 Harbor Road is the highest priced home and is listed at $32,000. This direct waterfront 3,023 square foot colonial home with four bedrooms and three baths includes a deep water dock.
Seasonal rental opportunities are up by eight units from last year at this time.
Seasonal/short term rentals currently have an average price of $5,150 and a median price of $4,333, with an average market time of 100 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 25 Wright St. is listed at $999,000.
Built in 1845, The “Charles Wright House” in the Old Hill section of town has retained its original charm, and seamlessly integrated a subdued contemporary flair in its 2,295 square feet of living space.
This vintage three-bedroom colonial oozes with charm, has a wonderful circular flow, and is exceptionally convenient to all town amenities.
The living room includes a wood-burning fireplace, crown molding and specialty door frame molding.
The dining room is open to the living room and has a built in china/linen closet.
A remodeled and sunlit, crisp white kitchen, with perfectly placed glass front cabinetry, has black granite tops and a subway tile backsplash. The breakfast bar seats two comfortably, and an exposed wooden post provides additional period charm.
The wainscoted family room has another fireplace with recessed firewood boxes on one side, and built-in shelving and cabinetry on the other.
Three bedrooms are on the upper floor and include the master suite, as well as a separate study that has its own 102 square foot balcony overlooking the private backyard and garden area.
A finished third floor is perfect for a reading room or office, which is not included in the square footage.
Extras and items to note — three bedrooms, two and one half baths, two fireplaces, original wide-board flooring, covered screened porch, natural gas, public water and sewer
Annual taxes $11,391.
Listing/photo courtesy of Compass Connecticut/KMS Partners.
(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.
