By Judy Szablak
Special to WestportNow
Westport’s waterfront homes and communities have always held a certain “cachet,” and opportunities for these homes are far and few between.
Featured Home: This home at 44 Island Way is listed at $2,495,000. (CLICK TO ENLARGE) Photo courtesy of Coldwell Banker Westport
Less than 2 percent of the town’s inventory of homes for sale are in the premier waterfront communities of Saugatuck Island and Saugatuck Shores.
There are currently only six homes listed for sale in Saugatuck Island, and an additional 14 homes are available in Saugatuck Shores with an average list price in both areas of $2,672,300.
Sixteen have closed within the last year with an average sales price of $2,325,516.
Market Stats
There are now 337 homes that are actively on the market, which have been listed for an average of 113 days, with a cumulative market time of 187 days. The average list price is now $2,081,292 and the median price is now at $1,675,000.
A home at 114 Beachside Ave. is the highest priced property for sale at $28 million, and the lowest available priced single family is a four-bedroom home on Saugatuck Avenue for $339,000.
Twenty-seven new listings came on the market in the last seven days, and two properties came back on the market after being under deposit, or temporarily withdrawn. Twenty-two properties had a price change.
Sixteen properties have gone under the initial deposit stage, which we call CTS or Show, and another 11 properties went into pending status, which means that the conditions have been satisfied, and the property is scheduled to close.
The average price of those 11 pending properties was $1,810,591. There are currently 38 homes in CTS/Show status throughout Westport, and another 54 properties scheduled to close townwide, with an average price of $1,561,645.
Closings: There were eight single family homes reported as sold in the last week, and they were listed on average at $1,718,125 with an average market time of 152 days. There were 93 status changes in the last seven days.
Condos: There are 12 condominiums that are available, and they have been listed an average of 104 days, with a cumulative market time of 151 days. Their average listing price is $606,069 and the median price is $474,000.
The highest priced condo in town is listed at $1,195,000 and is a three-bedroom home located at Terra Nova Circle, and the lowest priced unit for sale is a two-bedroom home on Bridge Street for $254,330.
There were no new listings in the last seven days, and no properties came back on the market. Two properties had a price change, and one home took a deposit. No homes entered into pending status.
There are two properties townwide that are currently in CTS/Show status, and one property is currently scheduled to close which is listed at $325,000
No sales were reported during the last week. There was one status change.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 45 homes or apartments available. The median price is $6,000 per month and the average price is $6,211 per month. These year-round rental opportunities have been on the market an average of 130 days.
There are 70 short-term rental opportunities that are available, and they have been on the market an average of 98 days. Their average price is $14,556 and the median price is $10,500. 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 — Market data is compiled from the SmartMLS and represents activity through our statewide MLS system. Private sales are not included in these statistics.
Featured Home
This home at 44 Island Way is listed at $2,495,000.
This Saugatuck Island contemporary home has a unique and versatile 3,884-square foot floor plan that takes full advantage of sweeping water-views of Long Island Sound.
The open layout is perfect for entertaining, and there is an interesting detail about each of its nine rooms.
The expansive skylit great room has a cathedral ceilings, panoramic windows, and a floor-to-ceiling stone fireplace with raised hearth. Three sets of sliders lead to the wraparound deck which brings the beauty and serenity of the landscape indoors.
The dining room with vaulted ceiling includes a wet bar and Dacor wine fridge, and also has sliders to the multilevel deck with gas firepit, magnificent views of the Sound, and lushly landscaped .31 acre lawn and gardens.
A skylit chef’s kitchen with granite counters features top grade appliances and a custom mahogany and maple tongue and groove breakfast bar that seats three comfortably.
An especially luxurious and versatile master bedroom suite with private balcony has a marble bath with whirlpool, a loft area, and an attached en suite sitting room/nursery or office with another balcony.
Two additional bedrooms share a bath, and the main level den has plenty of built-ins, as well as sliders out to the covered wraparound porch.
The separate au pair suite or studio apartment is wonderfully separated from the main living areas, and includes a full bath as well as a kitchenette.
Extras and items to note — three to four bedrooms, four and one half baths, public water and sewer, fireplace, Brazilian mahogany-floating staircase, au pair/studio apartment with kitchenette, annual association fee of $687, generator
Annual taxes are $20,852.
Listing/Photo courtesy of Coldwell Banker 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.
