By Judy Szablak
Westport has not been this affordable in years, and a review of recent sales confirms it. The under $1 million price range has shown substantial activity over the last six months and continues to be strong.
This home at 15 Janson Drive is listed for $899,000. (CLICK TO ENLARGE) Photo courtesy of The Hamilton Team at William Raveis Real Estate, Westport
Almost 25 percent of all the homes available for sale in Westport are listed under $1 million, and more than 47 percent of all the homes sold or pended in the last six months have been in this affordable range.
While the flurry of activity in this range is good for single family home sales, the condominium market has suffered because of it.
Those selling condominiums need to take special note of the single family home market conditions as they do relate to the sale ability of their home.
Should this trend continue, we can expect some additional movement in the higher price ranges as the domino effect will, or should, take effect. It just takes a little time. This is a positive sign.
The weekly market stats: there are now 324 homes that are actively on the market, and their average list price is $2,085,001. These properties that are currently on the market have been listed for average of 111 days, and the median price is now $1,323,500.
The highest asking price for all homes currently on the market is $24,950,000, and the lowest available priced home is $192,900.
Fourteen new listings came on the market in the last seven days, and one home came back on the market after being under deposit. Twelve properties had a price change.
Ten properties have gone under the initial deposit stage, which we call CTS, and seven 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 seven pending properties was $1,945,500 and they were on the market an average of 136 days.
Closings: Seven homes were reported as sold in the last week, and their average list price was $2,377,428. Average market time for these sold properties was just 168 days. There were 64 status changes in the last seven days.
Condos: There are eighteen condominiums that are available, and they have been listed an average of 166 days. Their average listing price is $643,661, and the median price is $525,000. The highest priced condo in town is listed at $1,495,000 and the lowest offering price is $325,000.
There were no new listings this past week, and one property had a price change. No condominiums were reported as sold in the last seven days. There was one status change.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 62 homes or apartments available. The median price is $3,300 month and the average price is $4,936 per month. These year round rental opportunities have been on the market an average of 86 days.
There are now 28 seasonal rental opportunities available, and they have been on the market an average of 41 days. Their average price is $19,862, and the median price is $16,000. 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 15 Janson Drive is listed for $899,000. Set back from the road at the end of a cul-de-sac in one of Westport’s most desirable neighborhoods, this 3,050-square foot sunlit contemporary has a lot to offer for an extraordinarily reasonable price.
This nine-room contemporary was built in 1982 and has four bedrooms, four full baths, and an open floor plan that flows effortlessly throughout the home.
Each room takes advantage of the natural beauty of the .57-acre lushly landscaped and private property with a multitude of oversized windows and sliding glass doors.
The living room has a fireplace and step down seating area, and the dining room has a wall of windows and sliders out to the deck, offering outstanding private views.
The kitchen has more than ample cabinetry, is fully applianced, and has a center service island with a bar sink that seats two. The breakfast nook area also has sliders to the 80-square foot greenhouse.
There is also a den and a guest bedroom on this level, which could easily be an au-pair or nanny suite if needed.
Upstairs, there are three additional bedrooms which all have cathedral ceilings. The master bedroom suite has a sitting room with fireplace, sliders out to its own balcony, and twin baths.
Extras and Items to note: new heating and cooling system, heated In-ground pool, security system, central vacuum, sound system,and circular driveway;
While mechanically in superb condition, this home’s interior may not suit all tastes, as is reflected in its price. Annual taxes are $11,204
Listing/photo courtesy of The Hamilton Team at William Raveis Real Estate, Westport.
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(Editor’s Note: Judy Szablak of RE/MAX- Fairfield County CT Realtor since 1984 is author of “The Art of Buying or Selling a Home,” and is featured on HGTV’s real estate show, “Desperate to Buy.” Email .(JavaScript must be enabled to view this email address) or visit her blog at www.TheCTrealtyBlog.com.
Wow, I didn’t realize that just under $1 million dollars was considered affordable, good to know!