By Judy Szablak
Westport’s Compo Beach area is brimming with homes for sale and real estate activity, especially at this time of year.
Featured Home This home at 6 Norwalk Ave. in the Compo Beach area is listed at $2,199,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis, Westport
In fact, 40 percent of the homes available for sale in this area have come on the market in the last two months alone.
Currently, there are 49 homes available in this neighborhood, and the average price is $3,109,382. Over the last 12 months, the average sale reported through the Greater Fairfield County Multiple Listing Service was $2,580,705.
The lowest priced home in this sought after area is on Vani Court and is listed at $699,800 and the highest priced home is on Owenoke Park for $10,250,000.
Historically, and certainly not surprisingly, the Compo Beach real estate market enjoys an active summer selling season, and almost 20 percent of all sales reported here closed last year in August, which indicates that many of these homes took an initial deposit in June.
Market Stats
There are now 368 homes that are are actively on the market, and that remains unchanged from last week. These currently available properties have been listed for an average of 100 days, with a cumulative market time of 172 days. The average list price is now $2,309,237 and the median price remains is now $1,862,000.
A contemporary home on Bluff Point is the highest priced home for sale at $11,500,000, and the lowest available priced home is a three bedroom home on Crescent Park Road for $368,000.
Twenty-eight new listings came on the market in the last seven days, and four properties came back on the market after being under deposit, or temporarily withdrawn. Thirty-four properties had a price change.
Thirteen properties have gone under the initial deposit stage, which we call CTS, and 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 properties was $1,751,090. There are currently 40 homes in CTS status throughout Westport, and another 53 properties scheduled to close town-wide, with an average price of $1,969,317.
Closings: There were 11 single family homes reported as sold in the last week, and they were listed on average at $3,229,273, with a market time of 149 days.
(This average includes the former home of Ruth Bedford on Beachside Avenue which closed at $16 million.) There were 101 status changes in the last seven days.
Condos: There are 13 condominiums that are available, and they have been listed an average of 69 days, with a cumulative market time of 80 days. Their average listing price is $787,731 and the median price is $749,000.
The highest priced condos in town are both listed at $1,279,000 and are three-bedroom homes located at Terra Nova Circle, and the lowest priced unit for sale is a one- bedroom home on Whitney Glen for $399,000.
There was one new listing, and no homes came back on the market after being under deposit. There was one price change, and no property entered into the initial stage of deposit. No homes entered into pending status.
There are three properties town-wide that are currently in CTS status, and there are three homes scheduled to close, with an average price of $741,300.
No sales were reported during the last week. There were two status changes.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 42 homes or apartments available. The median price is $4,225 per month and the average price is $5,055 per month. These year-round rental opportunities have been on the market an average of 48 days.
There are 32 short-term rental opportunities that are available, and they have been on the market an average of 50 days. Their average price is $14,528 and the median price is $9,750. 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 Norwalk Ave. is listed at $2,199,000.
This seven-room Compo Beach colonial is loaded with charm and character, has beautiful views of Long Island Sound, and is just steps to the sand.
Originally built in 1920, this thoughtfully remodeled 2,288-square foot home has an incredibly charming presence that begins with all the attention to detail on the outside that includes beautiful stonework, wood lattice, and a scalloped front portico.
Inside, the contemporary floor plan is beautifully enhanced by arched doorways and round-top doors, along with numerous built-ins and nooks and crannies. The open and extremely versatile layout can be utilized in any number of ways, and the flexibility of the floor plan is unmatched for this size home.
An impressive great room with stunning water views has a skylit cathedral ceiling, and the 10-foot brick fireplace is the main focal point. The informal dining area is located within the large space as well.
The fully applianced chef’s kitchen has granite counters and a center island that seats three comfortably, and the charming banquette dining area comfortably seats four more.
Random width wide-planked and pegged hardwood floors add a vintage touch to the kitchen, as do the art-deco style glass-front cabinets. A separate pantry offers plenty of storage, and French doors lead to one of three separate outdoor living spaces.
The main level also offers an en suite den/office which could easily be an office or more formal living or dining room, or perhaps a main level bedroom if so desired, and a very charming “seafarers nook” with desk area overlooks the sound.
Upstairs, the master bedroom has outstanding water views. The elegant suite has cathedral ceilings, built-ins, custom double closets, and a bath with antique vanity, claw tub and shower.
Two additional bedrooms are in another wing, and share a full bath with claw foot soaking tub, and one of the bedrooms has an additional sleeping loft.
Extras and items to note—three full baths, surround sound, parking for seven cars, .11-acre property, security system, city water, city sewer, front and rear brick patios, terrazzo lighting, outdoor shower pergola, sprinkler system.
Annual taxes are $15,245.
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.
