By Judy Szablak
Westport’s single family home inventory is down, as is much of the nation, however contemporary-styled homes for sale are particularly scarce.
This home at 82 Morningside Drive South is listed at $3,575,000. (CLICK TO ENLARGE) Photo courtesy of Higgins Group/Christie’s Great Estates—Westport
For example, in Fairfield County, there are more than 3,900 single family properties for sale according to our local Multiple Listing Service. Countywide, less than 10 percent of these homes are either contemporary in interior or exterior styling, and Westport has just 39 homes actively listed fitting the description.
As we have watched our overall market improve, this segment has also performed well over the last few years. Sales data is consistent in both 2012 and 2013, with 39 homes sold last year, and 35 closings year-to-date, with another four pended and scheduled to close. Average sale prices are up more than 8 percent year-over-year.
Market Stats
There was a significant drop of nearly 13 percent from last week’s inventory, and there are now just 249 homes that are actively on the market which is partly seasonal. The average list price of these available homes is $2,340,273, and these properties have been listed for average of 125 days, with a cumulative market time of 203 days. The median price is currently at $1,785,000.
The seven-bedroom colonial at 2 Manitou Court is the highest listed property in town at $12,985,000, and the lowest available priced home is a two-bedroom ranch on Crescent Park for $289,000.
Eight new listings came on the market in the last seven days, and three homes came back on the market after being under deposit. Seven properties had a price change.
Eight properties have gone under the initial deposit stage, which we call CTS, and six 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 six pending properties is $1,035,167. There are currently 26 homes in CTS status throughout Westport, and another 41 properties scheduled to close town-wide, with an average price of $1,682,073.
Closings: There were nine single family homes reported as sold in the last week, were listed on average at $2,418,889, and sold with an average market time of 123 days. Two standout sales were at 15 Yankee Hill Road and 38 Bermuda Road, which closed at $5,720,000 and $5,900,000 respectively. There were 53 status changes in the last seven days.
Condos: There are six condominiums that are available, and they have been listed an average of 82 days. Their average listing price is $702,038 and the median price is $781,500.
The highest priced condo in town is $899,000 and is a three-bedroom home located at Regents Park, and the lowest priced unit for sale is a two-bedroom home on Bradley Lane for $626,500.
There were no new listings this week, and no homes came back on the market after being under deposit. There was one price change, and one property entered into the initial stage of deposit. One home entered the pending stage of deposit.
There are two properties town-wide that are currently in CTS status, and four homes that are scheduled to close, which are listed on average at $603,000.
No sales were reported during the last week. There were three status changes reported.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 61 homes or apartments available. The median price is $4,675 per month and the average price is $5,400 per month.
These year-round rental opportunities have been on the market an average of 63 days.
There are 32 short-term rental opportunities that are available, and they have been on the market an average of 63 days. Their average price is $5,577, and the median price is $5,500.
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 82 Morningside Drive South is listed at $3,575,000.
Located in prestigious Greens Farms, this one of a kind postmodern contemporary masterpiece is truly an architectural gem, and just barely noticeable from the road,
Enter through a cast-iron gated entrance that is flanked on either side by stone pillars, and a cheerful courtyard greets you upon arrival to this four-to-five bedroom home.
Once inside, it is evident that this artfully designed 10-room home is full of pleasant wonderment and natural light. Originally built in 1972, the entire residence employs a spectacular use of symmetry, geometrically shaped windows, “pass-through” openings, and an abundance of skylights.
Subsequent remodels have maintained the architectural integrity of the original 5,589-square foot stucco home, while enhancing it for today’s standards.
A dramatic living room has marble and granite flooring, and soaring ceilings with perfectly placed geometric pass through openings to allow maximum sunlight through its southern exposure.
A stylish gourmet kitchen has stainless steel appliances, granite tops, and a built in breakfast bar.
The formal dining area overlooks the level and very well manicured two-and-one-quarter acre scenic property. Two 10-foot-high glass doors lead to an open, yet covered al fresco dining area.
The main level family room has rich cherry flooring, a built in wood stove, and custom hand-crafted white birch shelving and accents. This soothing yet dramatic area has a ceiling height upwards of 50 feet at its uppermost point, along with access to the second floor media room.
The entire west wing is dedicated to an impressive main level master suite, and is accessed through its own barreled ceiling foyer. The bedroom “proper” has a skylit barreled ceiling over built in cabinetry, which creates a unique dressing area, and glass door to its own private covered patio .
The master bath has a steam room, two large walk in showers, a separate water closet, and a luxurious soaking tub.
The sitting room is just beyond the bath, and opens up to a secondary hallway with glass doors out to the courtyard. The sitting room is also well suited for use as a nursery, additional en suite bedroom, or office, if so desired.
Two additional bedrooms are located in the east wing, and both are en suite. The versatility of the floor plan lends itself especially well to one of the bedrooms, which could also easily be a servant’s/au pair suite, or home office with a private entrance directly across the hall.
Another en suite bedroom is located on the second floor, and has access to the media/recreation room.
This contemporary home is beautifully customized, and in a class all itself—with attention to even the smallest of details.
Extras and items to note— heated Gunite in-ground pool with gazebo, tennis court, 1,427-square foot landscaped courtyard, 1,660-square foot covered deck, hydro-air heating system, generator.
Annual taxes are $25,578.
Listing/photo courtesy of Higgins Group/Christie’s Great Estates—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.
