By Judy Szablak
Special to WestportNow
Sales activity levels in Westport are currently favoring buyers, however deposits in one particular neighborhood are strong.
Featured Home: This home at 3 Pheasant Lane is listed at $1,999,999. (CLICK TO ENLARGE) Photo courtesy of William Raveis Southport/Fowler & Company
The Coleytown area is by far the most active in town, with homes in varying stages of deposits representing 22 percent of the buyer activity townwide.
According to the SmartMLS, there are currently 54 homes available with an average list price of $1,704,387. These homes are 5,014-square feet on average and have 1.76 acres of property.
New construction accounts for 10 of these homes and their average price is $2,352,300. Five have closed in the past year and were listed on average at $2,264,600.
There are 34 colonials in the mix, along with 14 contemporary homes, five raised ranches or splits, and just one Cape Cod.
Market Stats
There are now 356 homes that are actively on the market that have been listed for an average of 118 days, with a cumulative market time of 204 days. The average list price is $2,140,123 and the median price has rebounded to $1,687,000.
A home at 114 Beachside Ave. is the highest priced property for sale at $28 million, and the lowest available priced single family is a four-bedroom home on Saugatuck Avenue for $339,000.
Twenty-four new listings came on the market in the last seven days, and two properties came back on the market after being under deposit, or temporarily withdrawn. Twenty-two properties had a price change.
Thirteen properties have gone under the initial deposit stage, which we call CTS or Show, and another 10 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 10 pending properties was $1,293,650. There are currently 22 homes in CTS/Show status throughout Westport, and another 34 properties scheduled to close townwide, with an average price of $1,379,612.
Closings: There were 11 single family homes reported as sold in the last week, and they were listed on average at $1,470,636 with an average market time of 97 days. There were 99 status changes in the last seven days.
Condos: There are 11 condominiums that are available, and they have been listed an average of 108 days. Their average listing price is $854,518 and the median price is $752,000.
The highest priced condo in town is listed at $1,395,000 and is a three-bedroom home at Terra Nova Circle, and the lowest priced unit for sale is a two-bedroom home on Whitney Glen for $450,000.
There were no new listings this week, and one home came back on the market. There were two price changes, and no properties went under the initial stage of deposit. One entered pending status, and was listed at $370,000.
There are two properties townwide that are currently in CTS/Show status, and there are three properties scheduled to close that are listed on average at $944,933.
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 80 homes or apartments available. The median price is $4,288 per month and the average price is $5,518 per month. These year round rental opportunities have been on the market an average of 73 days.
There are 33 short-term rental opportunities that are available, and they have been on the market an average of 113 days. Their average price is $9,542 and the median price is $7,200.
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 SmartMLS and represents activity through our statewide MLS system. Private sales are not included in these statistics.
Featured Home
This home at 3 Pheasant Lane is listed at $1,999,999.
This absolutely stunning 11-room custom built colonial is distinctive in its quality workmanship, attention to detail and refined finishes.
The superb stone work, extensive mill work and flexible 5,848-square foot floor plan are nicely complemented by a private 1.96-acre lot on a quiet Coleytown cul-de-sac.
An elegant living room with custom crown molding and ceiling trim has a corner gas fireplace with stone surround.
French doors lead to the dining room, which has an exquisite triple-tiered coffered tray ceiling as well as a reclaimed sliding barn door that opens to a walk-in storage room just ready to be converted to a butlers pantry.
The gourmet kitchen with Quartzite counters has top of the line appliances, a pot-filler, and a center island that seats four comfortably.
The sunlit breakfast nook overlooks the private and scenic property through French doors that lead out to the extensive patio and terrace area
The great room is open to the kitchen, and has a tray ceiling, plenty of built-ins, wet bar, wine fridge, and a handsome stone fireplace with raised hearth. French doors open to the patio/terrace area.
A main level office features another tray ceiling and custom trim-work. This room, combined with the living room could easily be an in-law or guest suite
Upstairs, the master suite with dressing room includes a tray ceiling, and French doors open to the private balcony. A marble bath has a free standing tub and glass enclosed steam shower.
Four additional bedrooms are on this level and two are en suite.
A nicely designed recreation room can also easily be a sixth bedroom, or nanny suite, if so desired.
The lower level media room has another tray ceiling and offers an additional 800-square feet of living area.
Schools — Coleytown Elementary, Coleytown Middle, Staples High
Extras and items to note — Five bedrooms, five full and one half baths, two fireplaces, 10-foot ceilings on the main level, hydro-air heating system, Vantage lighting controls, Cat-6 wiring, built-in study center on second floor, three car garage, 780-square foot patio and terrace, wired for full house generator.
Annual taxes have yet to be determined.
Listing/photo courtesy of William Raveis Southport/Fowler & Company.
(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.
