By Judy Szablak
The Westport real estate market is holding steady right now, and we are faring very well for this time of year. It is of no concern and of no surprise that we are not seeing a big upsurge in inventory.
This colonial at 1 Sherwood Farms Lane is listed for $1,569,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis/Westport
New listings are coming on the market every day. Properties are still going under deposit, homes are still selling, and homes will sell throughout the upcoming holiday season.
It just so happens that the net result of new listings, properties that have sold, and homes that fell off the market have resulted in the exact number of available homes as there were for the past three weeks running.
The number of available properties may even go down further before the end of the year. Again, it’s normal and seasonal.
Our market is holding. Don’t let seasonal changes lead you to believe otherwise.
Homes: The inventory in town remains exactly as it was the past few weeks with 335 single family homes that are actively on the market.
Their average list price is $2,121,039, and these homes have been listed for sale an average of 134 days. The median price has dropped slightly to $1,329,500.
Almost half of the homes available for sale in Westport have at least five bedrooms. Those 162 homes have an average list price of $1,458,595, and have been on the market an average of 118 days..
The highest asking price for all homes currently on the market is $24,950,000, and the lowest available priced home is $380,000.
Nine new listings came on the market in the last seven days, and no homes came back on the market after being under deposit.
Fourteen properties had a price change. Five properties have gone under the initial deposit stage, which we call CTS.
Five properties went into pending status, which means that the conditions have been satisfied, and the property is scheduled to close.
The average listing price for these pending properties was $1,658,400 and their average market time was 73 days.
Closings: Eight homes were reported as sold in the last seven days, their average list price was $1,319,175 and these homes were on the market an average of 94 days.
There were 54 status changes in the last seven days.
Condos: There are 25 condominiums that are available, and they have been listed an average of 129 days.
Their average listing price is $630,904, and the median price of a condo remains at $484,000.
The highest priced condo in town is listed at $1,495,000 and the lowest offering price is $279,000.
No new listings came on the market this week, and one property came back on the market after being under deposit. Two properties had a price change.
One property went into CTS status, and no properties went into pending status.
Closings: Two condominiums were reported as closed in the last week, and their average list price was $572,450.
These homes were on the market an average of 73 days. There were seven status changes in the last seven days.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 81 homes or apartments available.
The median price is $3,650 per month and the average price is $5,727 per month. These year-round rental opportunities have been on the market an average of 69 days.
There are three seasonal rental opportunities available, and they have been on the market an average of 81 days, and at an average price of $15,833.
The median price of both furnished and unfurnished seasonal rentals is $11,250.
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 colonial at 1 Sherwood Farms Lane is listed for $1,569,000.
Situated on .58 acres and located on a quiet cul-de-sac in the Sherwood Farms Association enclave, this Nantucket-styled colonial is designed with character and style throughout its 10 rooms.
This distinctly handsome home has a gracious two-story sunlit foyer with marble flooring, and there are 9-foot ceilings on the first floor that are accented quite nicely with specialty crown moldings.
Each room in this 5,062 square foot four bedroom and five and one-half bath home has its own personality and the interior flow is very well planned.
The elegant living room’s fireplace serves as a focal point, and the banquet-sized dining room with built-ins incorporates custom French doors to the porch to create a bay area.
A fully applianced state-of-the-art custom cherry wood kitchen has ample cabinetry, a tumbled marble porcelain backsplash, and granite tops with a built-in breakfast bar that is perfect for a casual snack.
The dining area within the kitchen overlooks the level backyard through another set of French doors.
The expansive family room has another fireplace and French doors to the stone patio.
The master bedroom suite is on the second floor and has its own private balcony, dual walk in closets, and the master bath is well equipped with double sinks, a whirlpool, and a steam shower.
Three additional en-suite bedrooms are on this floor and all have more than ample closet space, and one bedroom has its own loft area.
The lower level is finished to high standards, and the theater/media room is almost a work of art with Cherry stained hardwood floor-to-ceiling built-in cabinetry, recessed panel wainscoting, a tray ceiling and surround sound.
A built-in restaurant quality bar completes this very special entertaining area. There is also an gym/ fitness room that has its own bath
Extra Features: security system; central vacuum
Items to Note: Sherwood Farms Association fees $250 per month includes use of club house, heated pool, and year-round common grounds maintenance/landscaping.
This Greens Farms Colonial is architecturally appealing, graciously appointed, and a commuter’s dream.
Annual taxes are $16,430. Listing/photo courtesy of William Raveis/Westport.
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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 is featured on HGTV’s real estate show, “Desperate to Buy.” Email .(JavaScript must be enabled to view this email address) or visit her blog at www.TheCTrealtyBlog.com.
