By Judy Szablak
New construction is plentiful in town, but older homes in Westport have their very own type of appeal. Judging by this year’s upswing in antique home sales, these older homes have a solid place in town as well.
This home at 49 Partrick Road is listed at $1,525,000. (CLICK TO ENLARGE) Photo courtesy of Higgins Group Westport/Snyder & Pritchard Homes
Currently, there are just 17 antique homes on the market, and they are listed at an average price of just over $2.1 million. Another 22 vintage homes are also listed for sale at an average price of just over $2 million. According to our local MLS (Multiple Listing Service), the oldest property currently on the market in town was built in 1750.
The history of some of these older homes is quite appealing to some, and the inherent charm that an older home has is very difficult to recreate.
Limited supply is also a factor in their marketability and value. Twenty-eight antique homes have sold year to date, and there have not been this many sales in the category since 2007.
There can sometimes be a question as to what constitutes a house as being described as an antique, although these homes are customarily defined as properties that are at least 100 years old.
A few other common terms frequently used to describe an older property is a “vintage” home, which doesn’t quite meet the age criteria, but can certainly have all the charm associated with an antique, and an “historic” home, which would usually make reference to an historic event that took place on the property or refer to a famous architect who designed it, or a prior occupant.
Market Stats
There are now 283 homes that are actively on the market. The average list price of these available homes is $2,252,146, and these properties have been listed for average of 125 days, with a cumulative market time of 192 days. The median price is currently at $1,798,000.
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-two new listings came on the market in the last seven days, and two homes came back on the market after being under deposit. Fourteen properties had a price change.
Eleven properties have gone under the initial deposit stage, which we call CTS, and six 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 six pending properties is $1,416,000. There are currently 34 homes in CTS status throughout Westport, and another 53 properties scheduled to close town-wide, with an average price of $1,820,477.
Closings: There were eight single family homes reported as sold in the last week, were listed on average at $1,283,362, and sold with an average market time of 63 days. There were 77 status changes in the last seven days.
Condos: There are seven condominiums that are available, and they have been listed an average of 73 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 no new listings this week, and no homes came back on the market after being under deposit. There were no price changes, and one property entered into the initial stage of deposit. No homes entered the pending stage of deposit
There are three properties town-wide that are currently in CTS status, and six homes are scheduled to close that are listed on average at $611,667.
Two sales were reported during the last week, and were listed on average at $507,000. There were four status changes reported.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 59 homes or apartments available. The median price is $4,900 per month and the average price is $5,083 per month. These year-round rental opportunities have been on the market an average of 47 days.
There are 24 short-term rental opportunities that are available, and they have been on the market an average of 47 days. Their average price is $6,665, and the median price is $5,000.
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 49 Partrick Road is listed at $1,525,000.
This 11-room federal colonial sits back from the road in a majestic fashion on 1.2 acres in the sought after Old Hill area.
Originally built in 1928 for a prominent New York sculptor, whose work still graces the well manicured property, this elegant and fully restored historic 3,850-square foot home has great flow, and an abundance of light and original charm.
An arched doorway leads to the living room,which has an extra wide fireplace with a custom mantel. Reclaimed Vermont barn-wood flooring, crown molding, richly designed wainscoting, and built in shelving and cabinetry complete a tastefully designed room.
The dining room has another arched doorway, and a bay window overlooking the lush lawn and landscaping.
A custom gourmet kitchen has granite counters, stainless steel appliances, and a perfectly contrasting service island with double sink. The generously sized breakfast area has built in corner seating, and a seeded glass cabinetry for curio display.
The sunlit family room has another fireplace, and is open to the library/reading area which has French doors out to the patio.
There is also a main level en suite bedroom, which serves perfectly as guest quarters, or office, if so desired.
The master suite is on the upper level, and has a stunning bath that includes a whirlpool tub, and glass enclosed steam shower. Three additional bedrooms are on this floor, and one has its own loft.
Brimming with charm, elegance, and history, this romantic home has a great space in a highly desirable location.
Extras and items to note— 9-foot ceilings, surround sound, exceptional gardens, stone walls, and brick terraces.
Annual taxes are $15,590.
Listing/photo courtesy of Higgins Group Westport/Snyder & Pritchard Homes.
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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.)
