By Judy Szablak
Fall is nearly upon us, and with it comes a seasonal slowdown in home sales. If you are selling, make every effort to make sure that your home is as attractive as possible to the limited number of buyers that will be looking in the weeks to come.
This home at 8 Beachside Ave. is listed at $2,995,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis/Al Filippone Associates
Traditionally, we can expect somewhere between 50 to 60 single-family home sales between Sept. 1 and Nov. 1.
As there are now more than 300 Westport properties available for sale, we can reasonably anticipate that less than 20 percent of what is on the market today will sell in the next two months.
In other words, your home needs to stand out from the crowd if it is to sell in the next 60 days.
The single best piece of advice is to remember that while the colorful foliage is a pleasing backdrop for your home this time of year, you must remember to make sure the exterior of your home looks its best.
As the leaves inevitably start to fall, your home becomes more exposed and there will be no lush greenery camouflaging any areas that need sprucing up. Take special note, and special care of your home’s continued curb appeal.
Market Stats
There are now 312 homes that are actively on the market. The average list price of available homes is $2,184,966 and these properties have been listed for average of 128 days, with a cumulative market time of 238 days.
Cumulative market time indicates the total market time when a home has been listed more than once in short succession The median price remains at $1,699,000.
The highest asking price for all homes currently on the market is $27.5 million, and the lowest available priced home is $329,000.
Twelve new listings came on the market in the last seven days, and four homes came back on the market after being under deposit. Eight properties had a price change.
Four properties have gone under the initial deposit stage, which we call CTS, and three 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 three pending properties was $1,792,000. There are currently 25 homes in CTS status throughout Westport, and 38 properties scheduled to close town-wide, with an average price of $1,395,121.
Closings: Eleven homes were reported as sold in the last week, and their average list price was $1,283,909. Average market time for these sold properties was 129 days. There were 60 status changes in the last seven days.
Condos: There are 13 condominiums that are available, and they have been listed an average of 146 days. Their average listing price is $560,908, and the median price is $519,000. The highest priced condo in town is listed at $1,075,000 and the lowest offering price is $324,900.
There were no new listings and one home came back on the market after being under deposit. There were no price changes. No properties went under the initial stage of deposit.
Two properties were entered into pending status, and they were listed on average at $669,500.
There are currently five properties in CTS status, and an additional five homes scheduled to close town wide, with an average list price of $707,200.
Closings: There was one condo reported as sold this past week, and it was listed at $370,000.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 82 homes or apartments available. The median price is $5,350 per month and the average price is $6,471 per month. These year-round rental opportunities have been on the market an average of 63 days.
There are 25 short-term rental opportunities that are available, and they have been on the market an average of 73 days.
Their average price is $8,884, and the median price is $7,800. 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.
*Cumulative market time indicates the TOTAL market time when a home has been listed more than once in short succession.
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 8 Beachside Ave. is listed at $2,995,000.
This charming antique home built in 1900 is on two acres in Greens Farms, and has been restored to its original splendor, and then some.
Even the exterior of this colonial revival has exceptional detailing—the wrap around porch is more than 1,100 square feet and is adorned with Corinthian fluted columns, and true to the time period, the porch ceiling is painted sky blue.
The glass double door front entrance is flanked on either side by leaded glass windows, and the main hall foyer has exquisite crown molding with dentil accents.
Enter the living room through matching Corinthian columns, and a grand fireplace is the focal point of the room, which has plenty of natural light through its oversized bay window.
The dining room has crown molding with dentil trim, and a matching oversized bay window.
Natural light abounds in the family room, which has another large bay window, as well as built in seating below it.
The fully applianced kitchen has tin designed ceilings and a charming built in breakfast nook with wainscoting. A center service island seats three.
An especially elegant master bedroom suite is on the second floor, and has its own luxurious bath.
Four other bedrooms are also on this level, and each are quite spacious,
The third floor has a spacious library/den with walls of built ins, a sky lit cathedral beamed ceiling, and a unique center box designed hardwood floor.
Romantic and elegant, beautifully restored and picture perfect in every way.
Annual taxes are $24,108.
Listing/photo courtesy of William Raveis/Al Filippone Associates.
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(Editor’s Note: Judy Szablak of RE/MAX- 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.)
