By Judy Szablak
Special to WestportNow
Although there are just 17 condominiums available in Westport, more than one-third of the current inventory has come on the market within the past two weeks.
Featured Home: This home at 124 Harvest Commons is listed at $775,000. (CLICK TO ENLARGE) Photo courtesy of William Pitt Sotheby’s International – Westport.
Four of these new listings were previously rented, and are located at Tidewater Commons on Sylvan Lane. Two others were recently on the market, and re-listed as new.
While the number of available units has increased, they are nowhere near significant, and the condominium market appears to be healthy.
There are currently three homes under some stage of deposit, and 23 units sold in the last year that had an average sale price of $649,530. They also enjoyed a very strong average sales price to list price ratio of 97.4 percent.
The highest priced home that sold was $1,300,000 and the lowest priced unit closed at $215,564.
Market Stats
There are now 369 homes that are actively on the market, which have been listed for an average of 111 days, with a cumulative market time of 185 days. The average list price is now $2,129,240 and the median price is $1,659,000.
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 $299,000.
Twenty-two new listings came on the market in the last seven days, and no properties came back on the market after being under deposit, or temporarily withdrawn. Eighteen properties had a price change.
Thirteen properties have gone under the initial deposit stage, which we call CTS or Show, and another 11 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 11 pending properties was $1,148,818. There are currently 41 homes in CTS/Show status throughout Westport, and another 56 properties scheduled to close town-wide, with an average price of $1,595,804.
Closings: There were 12 single family homes reported as sold in the last week, and they were listed on average at $1,291,250 with an average market time of 64 days. There were 92 status changes in the last seven days.
Condos: There are 17 condominiums that are available, and they have been listed an average of 63 days, with a cumulative market time of 95 days. Their average listing price is $595,402 and the median price is $505,000.
The highest priced condo in town is listed at $1,150,000 and is a three-bedroom home located at Terra Nova Circle, and the lowest priced unit for sale is a two-bedroom home on Bridge Street for $234,933.
There were two new listings in the last seven days, and no properties came back on the market. No properties had a price change, and no homes took a deposit. No homes entered into pending status.
There are two properties townwide that are currently in CTS/Show status, and one property is scheduled to close that is listed at $1,049,000.
One sale was reported during the last week, and was listed at $325,000. There were six status changes.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 72 homes or apartments available. The median price is $6,000 per month and the average price is $7,458 per month. These year-round rental opportunities have been on the market an average of 88 days.
There are 70 short-term rental opportunities that are available, and they have been on the market an average of 110 days. Their average price is $13,516 and the median price is $9,975.
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 124 Harvest Commons is listed at $775,000.
This unit at Harvest Commons is the largest model available within the 82-unit condominium community, and also has a finished lower level.
Located at a prime location within the complex, which amenities include a heated swimming pool and tennis courts, this sunny and bright 2,141-square foot home has an additional 965-square feet of nicely finished living area downstairs.
The living room has a floor-to-ceiling brick fireplace with recessed wood storage area, cathedral ceilings, and two perfectly placed clerestory windows that afford much natural light to an already sunny unit. Sliders lead out to the fenced in and private patio.
The living room and dining room are separated by the fireplace, and the flow between them is perfect for entertaining.
A spacious eat-in kitchen includes a service island and a sunlit breakfast nook, as well as a den area that also has sliders to the 288-square foot stone patio.
Upstairs the master bedroom with sitting area has vaulted ceilings, a walk-in closet, and full bath.
Another en suite bedroom is also on this floor.
The lower level has a recreation room, separate office, and another full bath.
Extras and items to note – two bedrooms, three full and one-half baths, fireplace, natural gas, laundry on second floor, pool, tennis courts, two car attached garage, common fee $1,532 quarterly
Annual taxes are $8,617.
Listing/photo courtesy of William Pitt Sotheby’s International – 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.
