By Judy Szablak
Special to WestportNow
As we draw closer to the end of the year, Westport’s inventory continues its seasonal decline.
Featured Home: This condominium at 11 Terra Nova Circle is listed at $1,149,000. (CLICK TO ENLARGE) Photo courtesy of Coldwell Banker-Westport
However, an uncharacteristically high amount of homes were held open this past Sunday.
One in five homes available for sale had an open house this past weekend.
Those 74 homes represented 9.8 percent of the public open houses throughout Fairfield County in its entirety.
Still, it is important to realize that the homes which are held open publicly only give a limited overview of what is available for sale.
In other words, even though one can easily see a number of properties this way, one might never see four out of five properties, especially considering that some homes take a deposit before they are held open to the public, and others will just not ever be held open for one reason or another.
It is not uncommon for open house visitors to research the market, whether they are buying or selling.
However, at this moment, serious buyers seeking to make a move in the very near future have an especially unique opportunity in the next few weeks, as many sellers are looking to finalize the chapter of selling their home.
Market Stats
There are now 298 homes actively on the market, and have been listed for an average of 133 days, with a cumulative market time of 231 days. The average list price is now $2,209,235 and the median price is now at $1,695,000.
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.
Thirteen 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the market in the last seven days, and no properties came back on the market after being under deposit, or temporarily withdrawn. Ten properties had a price change.
Eight properties have gone under the initial deposit stage, which we call CTS or Show, and another 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 those six pending properties was $1,573,150. There are currently 31 homes in CTS/Show status throughout Westport, and another 39 properties scheduled to close townwide, with an average price of $1,418,972.
Closings: There were eight single-family homes reported as sold in the last week, and they were listed on average at $1,390,125 with an average market time of 120 days. There were 60 status changes in the last seven days.
Condos: There are 14 condominiums that are available, and they have been listed an average of 124 days. Their average listing price is $763,581 and the median price is $679,450.
The highest priced condo in town is listed at $1,299,000 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 no new listings this week, and no homes came back on the market. There were five price changes, and no properties went under the initial stage of deposit or pending status.
There are no properties townwide that are currently in CTS/Show status, and none currently scheduled to close.
No sales were reported during the last week. There were five status changes.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 92 homes or apartments available. The median price is $4,350 per month and the average price is $5,461 per month.
These year-round rental opportunities have been on the market an average of 75 days.
There are 36 short-term rental opportunities that are available, and they have been on the market an average of 117 days. Their average price is $7,433 and the median price is $5,325.
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 condominium at 11 Terra Nova Circle is listed at $1,149,000.
This seven-room home is located in an easily commutable and sought gated community of 54 upscale homes, and has an open and versatile floor plan.
There is 3,298-square feet of living area on three levels which are easily accessible by a handsome custom designed wood-paneled elevator.
Additionally, 9-foot ceilings and tall windows make this unit feel much more like a private home, rather than a condominium.
The main level features an open floor plan and caters to the entertainer at heart, and the personal areas have been purposely designed to be kept as private as possible upstairs.
The great room has a floor to ceiling stone fireplace, and tall windows overlook the private patio.
A bay area and large window in the dining room adds space for an extra long table if desired, as well as much natural light that is evident throughout the entire home.
The eat-in kitchen has granite counters and custom backsplash, with a center island to match.
The breakfast nook is open to the great room, and has transom topped French door sliders that lead out to the private patio that is nicely enveloped with arborvitaes to ensure privacy.
Upstairs, the master bedroom has a with tray ceiling, two expanded walk-in closets, and a spa like bath with whirlpool and separate glass enclosed shower
Another bedroom on this level doubles as a either a guest suite or office.
Over 1,000 square feet of finished space in the lower level includes a family room as well as plenty of storage.
Extras and items to note — two bedrooms, two and one half baths, fireplace, elevator access to all three levels, private patio, 9-foot ceiling height, no steps to or from unit or garage, gated community, pool, common charges $885 per month, one pet allowed.
Annual taxes are $11,175.
Listing/photo courtesy of Coldwell Banker-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.
