By Judy Szablak
Special to WestportNow
Most sellers think that public open houses are a necessary or integral factor in selling a property, and many Westport homeowners agree with those thoughts.
Featured Home: This home at 3 Pleasant Valley Lane is listed at $2,299,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis-Westport
However, according to the National Association of Realtors statistics released earlier this year, just 7 percent of homes sell as a result of open house signs, or yard signs.
Sales occurring directly from an open house didn’t even make the list.
The study went on to say that 81 percent of home sales occurred between just two sources.
Fifty-one percent of the buyers found the home they ultimately bought from the internet, and real estate agents found that home 30 percent of the time.
There are 52 open houses scheduled for this Sunday, as well as an evening open house and a Saturday open house.
Market Stats
There are now 320 homes that are actively on the market, which is down almost 5 percent from last month, and these currently available properties have been listed for an average of 131 days, with a cumulative market time of 207 days.
The average list price is down nearly 10 percent from last month to its current $2,074,506, and the median price is now at $1,500,000, which is down from $1,589,500.
Seventeen new listings came on the market in the last seven days, and no properties came back on the market after being under deposit, or temporarily withdrawn. Seventeen properties had a price change.
A Tudor style home on 114 Beachside Ave. 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 7.267-acres with 365-feet of waterfront.
The lowest available priced single-family is an 850-square foot two-bedroom bungalow on 21 Hale St. that was built in 1900, which is listed at $399,000.
Fourteen homes have gone under some stage of deposit, including 10 Minuteman Hill, a 9,282-square foot Compo Beach area home with six bedrooms, seven full and two half baths, and elevator and Long Island Sound views.
There are currently 22 homes under the initial stage of deposit townwide, and another 30 scheduled to close. This is up by three properties as compared to last month at this time
Closings: There were 11 single family homes reported as sold in the last week, and the highest priced sale occurred at 282 Compo Road South which was a 6,420-square foot new construction colonial built by SIR Development.
The home is near the Minuteman statue with views of Long Island sound from its rooftop deck, and has five en suite bedrooms, and six and one half baths. The home was listed at $4.2 million, and closed at $4,150,000 with a market time of just six days.
The lowest price sale was at 21 Bauer Place Extension which had a market time of just 13 days. The previously rented Hunt Club area three-bedroom, two-bath Cape Cod-style home is 1,600-square feet and closed at $530,000 which was 86.99 percent of the asking price.
Another noteworthy sale this week was 391 Riverside Ave., which was originally listed in 2013 at $2,995,000, listed and reduced numerous times over the years, and just closed at $1,550,000 at 89.18 percent of the last list price.
Condos: There are 13 condominiums that are available, and they have been listed an average of 105 days, with an average cumulative market time of 147 days, and represents four less homes that are available compared to last month. Their average listing price is up over $77,000 to $705,508 and the median price is just slightly up to $698,000.
There was one new listing in the last seven days, and no properties came back on the market. No properties had a price change, and one entered the deposit phase.
The highest priced condo in town is listed in the Terra Nova gated community for $1,150,000, and is a three=bedroom, two and one half bath home with 9-foot ceilings located at 30 Terra Nova Circle, and the lowest priced unit for sale is a one-bedroom home with 741-square feet on 35 Bridge St. at The Saugatuck, which is an adult complex and is listed at $233,700.
There are seven properties currently under some stage of deposit townwide, and the two-bedroom, two-bath home at Convent Mews located at 124 Riverside Ave. Unit 3 was reported as closed this week, and sold over list price at $300,591.
Rentals: If you are interested in renting year-round, either furnished or unfurnished, there are 45 homes or apartments available. The highest priced annual rental is a 6,902-square foot waterfront home with 16 rooms and five bedrooms at 18 Stony Point and is being offered either furnished or unfurnished for $18,000 per month. It is also for sale at $5,980,000.
The lowest priced rental is a 607-square foot legal accessory apartment with one-bedroom in the Coleytown area at 25 Maplewood Ave. for $1,375 per month.
The annual rental townwide median price is $4,500 per month and the average price is $5,888 per month. These year-round rental opportunities have been on the market an average of 87 days.
There are 30 short-term rental opportunities that are available, the highest priced home is a four-bedroom Mediterranean-inspired summer rental with four bedrooms and is offered at $35,000 monthly, and also at $10,000 monthly for the winter season. The home is located at 10 Bluewater Hill.
Seasonal rentals currently have an average price of $8,420 and a median price of $5,750. 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 3 Pleasant Valley Lane is listed at $2,299,000.
This elegant 15-room Nantucket-style colonial built by Milton Development epitomizes livable grandeur, and is on a quiet cul-de-sac in the Long Lots area.
Four finished levels of this superbly designed home comprise over 10,100-square feet of living area and provide ample space for everyone.
A grand two-story entrance foyer holds center stage to a home with an exceptional floor plan, exquisite trim work, detailing, and custom moldings.
The foyer opens to the living room on your right, the dining room on the left, and the great room ahead; and the resulting flow creates an exceptional space for entertaining
The formal living room is through French doors on the right as you enter, and includes a custom marble fireplace and hardwood floors with inlaid walnut perimeter detail.
Enter the formal dining room with tray ceiling through another set of French doors, and the adjoining butler’s pantry includes a sink, wine fridge and dishwasher.
The state of the art custom chef’s kitchen has professional grade appliances, and a recessed tray ceiling detail above the center island, which seats four comfortably.
The breakfast area opens to the family room on one side, and also to the three-season sunroom through French doors, which overlooks the professionally landscaped and level one-acre property.
The family room has an elegant columned entrance from the breakfast nook, and a floor to ceiling stone fireplace with raised hearth.
A handsome office has a mahogany coffered ceiling and matching mill work and a bay for added light.
Upstairs, the master bedroom suite occupies the entire right wing of the home, and has a tray ceiling, gas fireplace, substantially sized walk-in closet and dressing area, as well as a separate office or sitting area. A spa-like luxurious marble bath includes a separate tub and oversized shower.
The third level bedroom can easily be an au pair suite complete with a full bath and two closets, and lends itself well to a yoga room.
The outstanding flexibility of the floor plan continues with a walk out lower level that has its own kitchen area, gym and great room for an additional au pair or guest suite possibility.
Extras and items to note — six bedrooms, six full and two half baths, three fireplaces, security system, audio system, elevator to all levels, public water and sewer, natural gas, heated saltwater Gunite pool, three-car garage, generator
Annual taxes are $30,638.
Listing/photo courtesy of William Raveis-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.
