By Judy Szablak
Special to WestportNow
Deposits on single family homes in Westport are on the rise.
Featured Home: This home at 6 Sharp Turn Road is listed at $2.1 million. (CLICK TO ENLARGE) Photo courtesy of William Raveis Real Estate/Fran Burger Group
In the last 45 days, 45 homes have gone under the initial deposit stage, and there are another 44 properties that are scheduled to close.
New supply has been gobbled up as fast as it comes on the market. For example, we had sixteen new listings this past week, and sixteen homes took a deposit, which equals a zero net gain in inventory.
This tends to bring about increased multiple bidding situations, which also breeds disappointed buyers, but at the same time it brings hopeful sellers who can take advantage of what the current market conditions will bear.
Given the activity levels, it is especially important for both buyers and sellers to stay attuned to the market.
Buyers need to be prepared to place offers on a home on a moments notice as well as have financing in place, and while sellers in specific price pockets can push the envelope as far as pricing is concerned, they should not be overly aggressive for the market.
Market Stats
There are now 290 homes that are actively on the market that have been listed for an average of 122 days, with a cumulative market time of 204 days. The average list price is now $2,110,652 and the median price is now at $1,654,000.
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.
Sixteen new listings came on the market in the last seven days, and one property came back on the market after being under deposit, or temporarily withdrawn. Seventeen properties had a price change.
Sixteen properties have gone under the initial deposit stage, which we call CTS or Show, and another 12 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 12 pending properties was $1,508,458. There are currently 45 homes in CTS/Show status throughout Westport, and another 44 properties scheduled to close townwide, with an average price of $1,663,098.
Closings: There were seven single family homes reported as sold in the last week, and they were listed on average at $1,731,514 with an average market time of 77 days. There were 83 status changes in the last seven days.
Condos: There are 11 condominiums that are available, and they have been listed an average of 78 days, with a cumulative market time of 138 days. Their average listing price is $628,532 and the median price is $498,999.
The highest priced condo in town is listed at $1,249,000 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 $254,330.
There were two new listings in the last seven days, and no properties came back on the market. One home took a deposit, and no homes entered into pending status.
There is one property townwide that is currently in CTS/Show status, and two properties are currently scheduled to close.
One sale was reported during the last week, and was listed at $1,095,000. There were five status changes.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 61 homes or apartments available. The median price is $5,400 per month and the average price is $6,013 per month. These year-round rental opportunities have been on the market an average of 123 days.
There are 67 short-term rental opportunities that are available, and they have been on the market an average of 98 days. Their average price is $14,254 and the median price is $9,450. 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.
Coming soon: 17 Boxwood Lane-$2,695,000.
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 6 Sharp Turn Road is listed at $2.1 million.
This centrally located 14-room transitional colonial is just five years young, and was built by multiple HOBI award winning local builders SIR Development on an in-town cul-de-sac.
Four finished levels comprise over 5,660-square feet of living area, and the flexible and versatile floor plan is enhanced by specialty details, custom finishes, and 9-foot ceilings throughout.
A grand two-story foyer opens up to an elegant and sunlit living room on the left, with French doors that lead to the family room.
The dining room is to your right as you enter and features a low profile tray ceiling.
An exquisitely designed custom kitchen with tray ceiling has Carrera marble counters and top of the line stainless steel appliances. The contrasting center island has a vegetable sink, and seats three comfortably.
The breakfast area has oversized sliders to the blue stone patio with outdoor fireplace and sitting wall, and overlooks the private and level .96-acre yard.
The family room with beamed tray ceiling has a fireplace with windows on either side to let the sun shine in.
Upstairs, the master bedroom suite has a large walk in closet, and stunning marble bath with a whirlpool, and glass enclosed shower
Four other bedrooms are on this level, and two are en suite. Each have crown molding, custom light fixtures, and large walk -in closets.
Another bedroom on the third floor as well as a large finished area with built-in window seating and full bath is perfect for a teen suite, or au pair quarters
The finished lower level includes an media room, and an exercise room.
Extras and items to note — Six bedrooms, four full and one half baths, two fireplaces, main level study, public water and sewer, natural gas, security system, underground sprinkler system, 18’x 24’ blue stone patio, room for pool
Annual taxes are $22,758.
Listing/photo courtesy of William Raveis Real Estate/Fran Burger Group.
(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.
