By Judy Szablak
Expect Westport’s fall real estate market to provide a last quarter uptick in sales.
Featured Home: This home at 75 Old Hill Road is listed at $1,895,000. (CLICK TO ENLARGE) Photo courtesy of Coldwell Banker- Westport/Fine Homes USA
While we have experienced seasonally slow home sales over the summer months, history shows us that sales pick up again once Labor Day has passed, and school is in session.
Our market is strikingly similar to last year with overall sales, and interestingly enough, we are only two sales behind 2014 at this time, even though it may seem like the market is not nearly as active.
The fall market is an interesting one, and historically, these next few months can account for anywhere from one-quarter to one-third of all sales recorded for the year.
In fact, almost 32 percent of all the single family sales that occurred last year happened after Sept. 1, and it would behoove any homeowner who is wishing to sell their home to take full advantage of the next 60 days by preparing their home for sale and strategically positioning it well within the market.
Market Stats
There are now 341 homes that are are actively on the market. These currently available properties have been listed for an average of 123 days, with a cumulative market time of 197 days. The average list price is $2,239,927 and the median price is $1,795,000.
A contemporary home on 8 Bluewater Lane is the highest priced home for sale at $11,995,000, and the lowest available priced home is a three-bedroom home on Crescent Park Road for $345,000.
Thirteen new listings came on the market in the last seven days, and five properties came back on the market after being under deposit, or temporarily withdrawn. Twenty-two properties had a price change.
Nine properties have gone under the initial deposit stage, which we call CTS, and 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 properties was $1,152,380. There are currently 27 homes in CTS status throughout Westport, and another 56 properties scheduled to close town-wide, with an average price of $1,596,889.
Closings: There were six single family homes reported as sold in the last week, and they were listed on average at $1,645,833, with a market time of 99 days. There were 79 status changes in the last seven days.
Condos: There are nine condominiums that are available, and they have been listed an average of 159 days. Their average listing price is $693,722 and the median price is $749,000.
The highest priced condo in town is listed at $1,238,000 and is a three-bedroom home located at Terra Nova Circle, and the lowest priced unit for sale is a two-bedroom home on Hills Lane for $355,000.
There was one new listing, and no homes came back on the market after being under deposit. There were no price changes, and one property entered into the initial stage of deposit. No homes entered into pending status.
There are two properties town-wide that are currently in CTS status, and there is one home scheduled to close, that is listed at $550,000.
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 81 homes or apartments available. The median price is $4,950 per month and the average price is $5,305 per month.
These year round rental opportunities have been on the market an average of 50 days.
There are 17 short-term rental opportunities that are available, and they have been on the market an average of 40 days. Their average price is $8,856 and the median price is $7,400.
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 75 Old Hill Road is listed at $1,895,000.
This exceptionally classic10-room home in the heart of the sought after Old Hill area has been tastefully remodeled to today’s standards and truly is in better-than-new condition.
Natural sunlight fills the home through oversized windows, and each room has its own distinct personality and charm.
The 4,264-square foot traditionally styled colonial home, originally built in 1993, has been meticulously maintained, and thoughtfully remodeled to perfection.
The first floor has 9-foot ceilings, and the living room has a wood-burning fireplace with a fluted pilaster mantel and classic frieze with marble surround.
The dining room has crown molding and a curved arch entry to the kitchen.
The furniture style kitchen, designed by Rose Adams, is both a chef’s delight as well as a gathering place. An octagonal breakfast nook overlooks 1.01 acres of landscaped and private property. French doors open to an oversized deck for summer entertaining.
The family room has crown molding and is open to the kitchen.
The second floor has four bedrooms which are all en suite. The master bedroom has a tray ceiling, wainscoting, gently arched doorways and a seating area with French Doors to the balcony.
The Waterworks master bath is finished with Carrera-style marble, and has a claw tub as well as a glass enclosed shower, and is just one of five full baths in this home.
The finished walk-out lower level includes nearly 1,000-square feet of living area and has a fifth bedroom, full bath, private office and recreation room.
This is a beautiful home in a great commutable location which was exceptionally designed and renovated for today’s needs and is now within one mile of the new Westport YMCA.
Schools—Kings Highway, Coleytown, Staples.
Extras and items to note—city water to be connected prior to occupancy, pool site in place, security system.
Annual taxes are $18,325.
Listing/photo courtesy of Coldwell Banker- Westport/Fine Homes USA.
(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.
