By Judy Szablak
Special to WestportNow
The winter holidays are upon us, and with them bring a new set of challenges in real estate.
Featured Home: This home at 4 Mimi Lane is listed at $2,699,000. (CLICK TO ENLARGE) Photo courtesy of Higgins Group Westport-Westport Realty Partners
However there are a few added benefits to selling your Westport home at this time.
Many homeowners believe that now may not be the most opportune time to sell; however the truth is quite to the contrary.
Townwide inventory is light at less than 300 available single-family homes.
This translates to much less competition in your specific range, which works to your benefit since buyers still need to purchase and cannot wait until spring.
This time of year also brings about festivity along with warm and welcoming holiday décor, which is sure to invoke a buyer’s positive emotions.
The heightened joy of the season is typically strong. The holidays are filled with positive emotions and yearnings for home.
The added edge tips in the seller’s favor, as emotional buying is prevalent at this time.
It should be noted that buyers may not be as plentiful between now and the end of the year,
However it shouldn’t affect a sellers decision to place their home on the market, or keep it on the market.
Those who continue to look during this time are not just window-shopping. They are very serious in wanting to purchase.
Market Stats
There are now 295 homes that are actively on the market, which have been listed for an average of 140 days, with a cumulative market time of 242 days.
The average list price is now $2,186,382 and the median price is now at $1,675,000.
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.
Eight 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the market in the last seven days, and no properties came back on the market after being under deposit, or temporarily withdrawn. Eleven properties had a price change.
Four properties have gone under the initial deposit stage, which we call CTS or Show, and another 10 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 10 pending properties was $1,355,000. There are currently 24 homes in CTS/Show status throughout Westport, and another 37 properties scheduled to close townwide, with an average price of $1,375,216.
Closings: There were four single-family homes reported as sold in the last week, and they were listed on average at $1,760,501 with an average market time of 116 days. There were 40 status changes in the last seven days.
Condos: There are 10 condominiums that are available, and they have been listed an average of 121 days, with a cumulative market time of 166 days. Their average listing price is $837,913 and the median price is $790,950.
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 was one new listing this week, and no homes came back on the market. There were no price changes, and one property went under the initial stage of deposit or pending status.
There is one property townwide that are currently in CTS/Show status, and one currently scheduled to close, which is listed at $659,000.
No sales were reported during the last week. There were three status changes.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 91 homes or apartments available. The median price is $4,500 per month and the average price is $5,601 per month. These year-round rental opportunities have been on the market an average of 79 days.
There are 38 short-term rental opportunities that are available, and they have been on the market an average of 109 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 home at 4 Mimi Lane is listed at $2,699,000.
This newly built 15-room transitionally-styled Nantucket colonial is exceptionally elegant while maintaining a comfortable feel with an added bonus of being just steps to Compo Beach and close to the train.
Exquisite millwork and architectural details enhance a wonderfully flowing floor plan that includes over 6,700-square feet of living area on four levels.
The living room has a beautifully designed tiered tray ceiling.
The formal dining room has a multiple beamed ceiling and custom wainscoting, and the butler’s pantry includes a beverage fridge.
A chic custom white kitchen with top grade appliances has marble counters, and a breakfast bar that seats three comfortably. The breakfast nook overlooks the private property.
The family room is open to the kitchen and has a shiplap ceiling and built-ins surrounding the fireplace. French doors lead out to the to 411-square foot blue stone patio and level half-acre yard.
A main level study has a full bath and closet, and can easily be utilized as another bedroom, or an in law or nanny suite.
Upstairs, the spectacular master bedroom suite with tray ceiling has a romantic marble fireplace, and two walk-in closets. Its stylish and sleek marble bath has a separate tub and glass-enclosed shower.
Four additional en suite bedrooms are on this level, with additional bedroom availability on the third floor as well as the lower level.
A game room on the third floor also has its own porch.
The lower level has an expansive family room with a floor to ceiling stone fireplace, media room, and exercise room, and full bath.
Extras and items to note — seven bedrooms, six full and one half baths, three fireplaces, main level study, 9-foot ceilings throughout, second floor laundry, security system, central vacuum system, public water and sewer, natural gas, generator hookup, room for pool.
Taxes have yet to be determined.
Listing/photo courtesy of Higgins Group Westport-Westport Realty Partners.
(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.
