By Judy Szablak
The Compo Beach area is among the most sought after neighborhoods in Westport, and homes have proven to be more expensive here than they were just a few short months ago.
This home at 5 Yankee Hill Road is listed at $2,850,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis/ Westport Beach (+) Country Homes
While there are 59 homes available in the Compo Beach area as per our Multiple Listing Service (MLS), that total represents only 18 percent of the entire inventory in town.
The most expensive property in town is in this area as well, and is listed at $14.5 million. Currently, the most affordable home is on Grove Point for $799,000.
Average list prices are approaching $3.7 million, and the average size is just over 4,400 square feet.
When you think about the fact that 54 homes sold here in the last year, and at an average price of just over $2.05 million, it becomes abundantly clear that out-of-towners have also discovered our wonderful Compo.
Market Stats
There are now 325 homes that are actively on the market, and the net inventory has not changed since last week.
These currently available properties have been listed for average of 107 days, with a cumulative market time of 167 days. The average list price is now $2,486,419 and the median price is up slightly to $1,924,000.
A new five-bedroom colonial at 8 Bluewater Lane is the highest priced home for sale at $14.5 million, and the lowest available priced home is a two-bedroom home on Conte Place for $375,000.
Twenty-one 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market in the last seven days, and four properties came back on the market after being under deposit, or temporarily withdrawn. Fifteen properties had a price change.
Eighteen properties have gone under the initial deposit stage, which we call CTS, and another 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 is $1,445,214. There are currently 40 homes in CTS status throughout Westport, and another 64 properties scheduled to close town-wide, with an average price of $2,264,520.
Closings: There were seven single family homes reported as sold in the last week, and were listed on average at $1,335,000, and sold with an average market time of just 89 days. There were 77 status changes in the last seven days.
Condos: There are 14 condominiums that are available, and they have been listed an average of 76 days. Their average listing price is $699,357 and the median price is $737,000.
The highest priced condo in town is $1,265,000 and is a three-bedroom home located at Terra Nova Circle, and the lowest priced unit for sale is a one-bedroom home on Sylvan Lane for $304,000.
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.
There is one property town-wide that is currently in CTS status, and two homes that are scheduled to close, which are listed on average at $862,500.
One sale was reported during the last week, and was listed at $879,000. There were four status changes reported.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 27 homes or apartments available. The median price is $5,750 per month and the average price is $6,987 per month. These year round rental opportunities have been on the market an average of 43 days.
There are 41 short-term rental opportunities that are available, and they have been on the market an average of 44 days. Their average price is $17,866, 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 5 Yankee Hill Road is listed at $2,850,000.
This immaculate four-bedroom Compo Beach area beauty is located on a park-like 1.4 acres on a premier cul-de-sac, and is just steps to Longshore and the beach.
Originally built in 1965 and completely renovated to perfection in 2000, this 3,841-square foot shingle-style home features an exceptionally versatile floor plan and 9-foot plus ceilings on the main level.
It is readily apparent that every attention to detail has been carefully considered and implemented in this bright and sunny home.
A pillared front portico entry leads to the foyer with specialty mill-work and herringbone wood flooring. An open and flowing floor plan waits.
The sunken living room has a fireplace with custom mantel surrounded by well-designed built-in cabinetry. French doors matched on either side by tall stationary windows lead out to the rear courtyard and private level property with Gunite pool and spa.
A richly paneled Cherry library has recessed panel wainscoting, layered crown molding, and plenty of built ins.
The sunlit dining room has recessed panel wainscoting, and a herringbone wood floor with inlaid walnut perimeter trim.
The custom gourmet kitchen has top of the line appliances, granite countertops and a two-tiered contrasting center island that seats three.
The breakfast area has a tray ceiling and leads out to the courtyard through another set of French doors, and this cheerful area is open to the family /gathering room with brick fireplace.
A main level master suite also has a tray ceiling, and dual walk-in closets along with two separate baths, with the larger of the two featuring a stunning custom vanity, jetted tub, and glass enclosed shower.
An additional en suite bedroom is also on the main floor, and two additional bedrooms are upstairs, as well as a recreation/game area.
Extras and items to note: Four full and two half baths, hydro-air heating, audio system, central vacuum, security system, 786-square foot courtyard patio with blue-stone topped sitting wall, Gunite pool and spa with brick perimeter walkway, outdoor shower, mature plantings, deer fenced property, lower level exercise room, whole-house generator, three-car garage.
Annual taxes are $27,772.
Listing/photo courtesy of William Raveis/ Westport Beach (+) Country Homes.
(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.
