By Judy Szablak
It’s official. There have been more Westport single family sales year to date than there were in all of 2012, according to our local Multiple Listing Service.
This home at 6 Blind Brook Road is listed at $2,495,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis- Westport/Kinyon and Weingarten
The increase in the overall market is the healthiest we have seen for quite a while. Sales prices are up on average more than 3.5 percent over last year, and market time is down about 5 percent. Interestingly, the average size of the homes sold this year is also slightly smaller.
In 2012, 362 single family homes were sold at an average price of $1,493,792, and the average size of these homes was just under 3,800 square feet.
Year-to-date, 369 homes were sold at an average price of $1,548,072, and the average square footage dipped slightly to 3,714 square feet.
The smoothness of the rate of growth over the last year shows a slow but steady optimism from buyers. Although the government shutdown may in fact impact some future closings, we are in good stead for the remainder of the year, and moving forward in positive fashion into 2014
Market Stats
There are now 288 homes that are actively on the market. The average list price of these available homes is $2,289,427, and these properties have been listed for average of 112 days, with a cumulative market time of 182 days. The median price is currently at $1,782,500.
The seven-bedroom colonial at 2 Manitou Court is the highest listed property in town at $12,985,000, and the lowest available priced home is a two-bedroom ranch on Crescent Park for $295,000.
Twenty-two new listings came on the market in the last seven days, and four homes came back on the market after being under deposit. Twelve properties had a price change.
Thirteen properties have gone under the initial deposit stage, which we call CTS, and eight 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 eight pending properties is $1,164,050. There are currently 27 homes in CTS status throughout Westport, and another 47 properties scheduled to close town-wide, with an average price of $1,731,338.
Closings: There were 19 single family homes reported as sold in the last week, were listed on average at $1,801,837, and sold with an average market time of 121 days. There were 108 status changes in the last seven days.
Condos: There are six condominiums that are available, and they have been listed an average of 75 days. Their average listing price is $665,667 and the median price is $749,000.
The highest priced condo in town is $899,000 and is a three-bedroom home located at Regents Park, and the lowest priced unit for sale is a one-bedroom home at Whitney Glen for $299,000.
There were no new listings this week, and no homes came back on the market after being under deposit. There were no price changes, and no property entered into the initial stage of deposit. No homes entered the pending stage of deposit.
There is one property town-wide that is currently in CTS status, and three homes are scheduled to close that are listed on average at $447,667.
One sale was reported during the last week, and was listed at $389,000. There were two status changes reported.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 61 homes or apartments available. The median price is $4,750 per month and the average price is $5,208 per month. These year round rental opportunities have been on the market an average of 52 days.
There are 30 short-term rental opportunities that are available, and they have been on the market an average of 47 days. Their average price is $5,708, and the median price is $4,675.
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 6 Blind Brook Road is listed at $2,495,000.
Located in desirable Old Hill, this 11-room Tudor-style home was originally built in 1932, and designed by noted architect Frazier Forman Peters. Thoughtful expansion and considerable upgrades in 2009 have brought this significant home up-to-date for today’s lifestyle.
One of Peters’ trademarks was his use of random patterned flat-faced fieldstone, on a home’s exterior, and his respect of the beauty of the natural surroundings is especially preserved and evident today.
The one-acre lot is more private than most, and is simply picture-postcard perfect. A babbling brook running along the back of the property has two gently arched foot-bridges traversing the brook at different points that leads to an in-ground pool with extensive wood decking and stone walls along the water.
Inside, this 3,838-square foot home greets you with a versatile floor plan, and just a touch of European influence.
The living room has a large bay window overlooking a stunningly picturesque yard, and an open floor plan continues with a main level den, and a banquet sized dining area with cathedral ceilings.
The great room has more than an abundance of natural light through a large picture window, and a cathedral ceiling with exposed beams is a perfect compliment to an original stone fireplace.
On one side, French doors lead to a large playroom, bedroom, and full bath. An open stairwell to the second floor directly above leads to another two bedrooms and a full bath, and either space works quite well to accommodate an additional master bedroom, nanny quarters or even the perfect teen suite.
On the other side of the great room, take one step down to a beautifully remodeled chef’s kitchen, which has granite counters, a tumbled marble backsplash, and top of the line stainless steel appliances.
Three additional bedrooms are on the second level, including the master bedroom suite, and each room has its share of charm, built-ins, and the nooks and crannies one might expect from a home of this vintage by such a noted architect.
A perfectly stunning setting, and a beautifully maintained and updated home.
Extras and items to note- deeded rights to Nash’s pond, greenhouse, shed, yearly association dues $400,
Annual taxes $19,707.
Listing/photo courtesy of William Raveis- Westport/Kinyon and Weingarten.
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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.
