By Judy Szablak
Decisions, decisions—views of the water, or live on the water. For some people, saving over a million dollars on a purchase price to own a home that has water views is good enough.
This home at 21 Sterling Drive is listed at $1,650,000. (CLICK TO ENLARGE) Photo courtesy of Nicholas Fingelly Real Estate/Westport
According to our local Multiple Listing Service (MLS), there are 50 homes available for sale in Westport that either have a view of the water, or have “walk to water” as part of their description.
For clarification purposes, water can mean the Saugatuck River, any number of ponds, or Long Island Sound. The average list price of these homes is $2,214,723.
Right now, there are currently 54 homes available with direct water frontage of some kind, and they are listed on average at $3,285,767. That’s quite a difference, and it all boils down to a personal preference—whether being on the water is crucial, or the wallet dictates.
It is no secret that waterfront properties sell at a premium in Westport, or any other town, for that matter, but a home that is located near the water, or within close proximity definitely has its own set of benefits.
Market Stats
There are now 286 homes that are actively on the market. The average list price of these available homes is $2,229,286, and these properties have been listed for average of 124 days, with a cumulative market time of 191 days. The median price has dipped slightly to $1,798,500.
The highest asking price for all homes currently on the market is $12,985,000, and the lowest available priced home is $295,000.
Twenty-four new listings came on the market in the last seven days, and five homes came back on the market after being under deposit. Seventeen properties had a price change.
Nine properties have gone under the initial deposit stage, which we call CTS, and five properties went into pending status, which means that the conditions have been satisfied, and the property is scheduled to close.
The average price of these five pending properties is $1,911,000. There are currently 29 homes in CTS status throughout Westport, and another 55 properties scheduled to close town-wide, with an average price of $1,821,224.
Closings: There were 10 single family homes reported as sold in the last week, were listed on average at $1,542,450, and sold with an average market time of 84 days. There were 78 status changes in the last seven days.
Condos: There are seven condominiums that are available, and they have been listed an average of 66 days. Their average listing price is $629,286 and the median price is $629,000. The highest priced condo in town is listed at $899,000 and the lowest offering price is $205,000.
There were two new listings this week, and no homes came back on the market after being under deposit. There were no price changes, and two properties entered into the initial stage of deposit. Two homes entered the pending stage, and were listed in average at $557,000.
There are four properties town-wide that are currently in CTS status, and seven homes are scheduled to close that are listed on average at $539,571.
No sales were reported during the last week. There were seven status changes reported.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 66 homes or apartments available. The median price is $4,950 per month and the average price is $5,204 per month. These year round rental opportunities have been on the market an average of 43 days.
There are 26 short-term rental opportunities that are available, and they have been on the market an average of 51 days.
Their average price is $6,742, and the median price is $5,450. 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 GFC-CMLS and represents activity through our local MLS system. Private sales are not included in these statistics.
Featured Home
This home at 21 Sterling Drive is listed at $1,650,000.
This completely renovated three-bedroom, three and one-half bath colonial is in the sought after Compo Beach area on a quiet cul-de-sac, and boasts outstanding views of Long Island Sound as well as the Mill Pond from nearly every room.
Originally built in 1926, this very chic 1,860 square foot home has all of today’s luxury necessities, which were flawlessly incorporated with all the charm that one might expect from a home of this vintage.
Enter the living room through a set of custom glass doors, and a very charming space warms your spirit with a fireplace, and built in shelving and cabinetry.
A sunlit dining room has another set of French Doors and scenic views of the water.
The fully remodeled designer white kitchen has high-end stainless steel appliances, plenty of cabinetry, and a built in breakfast bar that seats two.
The 450-square foot main level deck is accessed through a glass door between the kitchen and dining room and spans the entire length of the home.
Three bedrooms are all on the upper level, and the master suite includes a private viewing deck, and a stunning Carrera marble bath with deep jetted tub and glass enclosed shower.
The recreation/ family room is on the lower level, adds another 800 square feet of living space, and has a full bath. A door also leads to the stone terrace.
Perfect for a weekend retreat, or year-round living.
Extras and items to note—remodeled using environmentally friendly materials, just steps to the beach, no flood insurance required
Listing/photo courtesy of Nicholas Fingelly Real Estate/Westport.
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(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.
