By Judy Szablak
Special to WestportNow
It certainly doesn’t feel like spring has arrived in Westport. However, the buyers are certainly out.
Featured Home: This home at 4 Keller Lane is listed at $1,489,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis-Westport.,
In fact, first quarter sales have edged out closed units by 4 percent as compared to last year.
Home prices have also risen in 2016, and are up on average by 2.5 percent, and the average sale price this year is just over$ 1.6 million.
The only constant between the two time periods is that the average size home that sold is approximately 4,400-square feet, and the average time on market for these sales has been 130 days.
The average increase in price is not “carte blanche” to price a home above what the market will bear. One must be aware that today’s buyers are conducting more research than ever before, and will walk away before they overpay.
Market Stats
There are 337 homes actively on the market, and these properties have been listed for an average of 98 days, with a cumulative market time of 192 days The average list price is $2,183,929 and the median price is $1,750,000.
A contemporary home on Compo Mill Cove is the highest priced home for sale at $9,999,000, and the lowest available priced single-family is a two-bedroom cape on Valley Road for $449,000.
Twenty-six new listings came on the market in the last seven days, and one property came back on the market after being under deposit, or temporarily withdrawn. Twenty-four properties had a price change.
Nine 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 those eight properties was $1,854,125. There are 37 homes in CTS status throughout Westport, and another 47 properties scheduled to close town-wide, with an average price of $1,639,026.
Closings: There were 12 single-family homes reported as sold in the last week, and they were listed on average at $1,822,158 with a market time of 108 days. There were 85 status changes in the last seven days.
Condos: There are nine condominiums that are available, and they have been listed an average of 92 days. Their average listing price is $611,067 and the median price is $519,000.
The highest priced condo in town is listed at $1,199,700 and is a three-bedroom home located at Terra Nova Circle, and the lowest priced unit for sale is a one-bedroom home on Bridge Street for $211,000.
There was one new listing this week, and no homes came back on the market, There was one price change, and one property went under the initial stage of deposit, and one entered pending status.
There are two properties town-wide that are currently in CTS status, and there is one property that is scheduled to close.
No sales were reported during the last week. There were four status changes.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 50 homes or apartments available. The median price is $5,900 per month and the average price is $6,572 per month. These year-round rental opportunities have been on the market an average of 74 days.
There are 64 short-term rental opportunities that are available, and they have been on the market an average of 68 days. Their average price is $20,494 and the median price is $18,000.
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 4 Keller Lane is listed at $1,489,000.
This sophisticated three-year young transitional colonial is located on a prime cul-de-sac in the sought after Long Lots area.
There is plenty of room in this five-bedroom home that has 9-foot ceilings on both the first and second floors, and four finished levels of living area.
Crisp and clean lines throughout this home’s 11 rooms showcase its quality craftsmanship, and specialty mill-work and fixtures add to its comfortable yet classic elegance.
The living room has a low-profile coffered ceiling, and a gas fireplace with stone surround and custom-milled mantel.
The dining room features a tray ceiling with layered crown molding, and recessed panel wainscoting.
A designer white gourmet kitchen with custom cabinetry includes top-of-the-line stainless steel appliances, a pantry, and a breakfast bar that seats three comfortably, with specialty pendant lighting above.
The family room is open to the breakfast area, and has a beamed ceiling and a fireplace flanked on either side by French doors which lead out to a 350 square foot blue-stone patio.
Upstairs the master bedroom suite has a tray ceiling, and a large walk-in closet with custom shelving. A luxurious Carrera marble bath has herringbone floor detail, a hydro tub, and separate glass enclosed shower.
Three additional bedrooms are on this level, two of which share a :“Jack and Jill” style bathroom, and the other in en suite.
The finished third floor has another bedroom, full bath, and a bonus room, which could easily be a teen suite or converted to nanny quarters.
The lower level has a play room with a floor-to-ceiling stone fireplace, another full bath, and exercise area with mirrored wall.
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Schools—Long Lots, Bedford, Staples
Extras and items to note—five bedrooms, five full and one half baths, three fireplaces, security system, public water and public sewer, .26-acre level lot, generator
Annual taxes are $13,318.
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.
