By Judy Szablak
While some may have considered increasing home sizes in Westport a relatively recent phenomenon, it is actually an evolution that began more than 60 years ago.
Featured Home This 11-room home at 24 Rayfield Road is listed at $1,899,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis- Westport
In the 1950s, an eight-room home was considered a large home. In the early 1970s, it was nine rooms. By 1975, it was 11 rooms.
Following the 1970s, there was a lull in expanded size that ended a decade later with 12 rooms considered large. By the 1990s, it was 13 and 14 rooms.
Today, a large home is considered 15 or more rooms. Of the 39 homes currently on the market in Westport of this size, two thirds were built in the last five years.
The average “manor home” now is greater than 8,750-square feet and is listed at more than $3.8 million.
Market Stats
There are now 342 homes actively on the market. These properties have been listed for an average of 107 days, with a cumulative market time of 191 days. The average list price is $2,379,648 and the median price is at $1,899,000.
A waterfront contemporary home on Bluff Point is the highest priced home for sale at $11.5 million, and the lowest available priced home is a three-bedroom home on Crescent Park Road for $368,000.
Thirty-one new listings came on the market in the last seven days, and two properties came back on the market after being under deposit, or temporarily withdrawn. Thirty-one properties had a price change.
Six properties have gone under the initial deposit stage, which we call CTS, and eight 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 eight properties was $3,948,750. There are currently 33 homes in CTS status throughout Westport, and another 51 properties scheduled to close town-wide, with an average price of $2,344,839.
Closings: There were four single family homes reported as sold in the last week, and they were listed on average at $2,096,000, with a market time of 94 days. There were 86 status changes in the last seven days.
Condos: There are 12 condominiums that are available, and they have been listed an average of 62 days, with a cumulative market time of 74 days. Their average listing price is $786,150 and the median price is $654,450.
The highest priced condo in town is $1,310,000 and is a three-bedroom home located at Terra Nova Circle, and the lowest priced unit for sale is a one-bedroom home at Whitney Glen for $399,000.
There was no condominium activity in the last week.
There are three properties town-wide that are currently in CTS status, and there are two homes scheduled to close.
No sales were reported during the last week. There was one status change.
Rentals: If you are interested in renting year-round, either furnished or unfurnished, there are 32 homes or apartments available. The median price is $2,950 per month and the average price is $4,977 per month. These year-round rental opportunities have been on the market an average of 73 days.
There are 32 short-term rental opportunities that are available, and they have been on the market an average of 38 days. Their average price is $15,256 and the median price is $14,000.
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 24 Rayfield Road is listed at $1,899,000.
This attractive six-bedroom colonial has been beautifully remodeled, and offers more than 5,900-square feet of living area on three levels.
Set back from the road for added privacy on a professionally landscaped .53-acre lot, this 11-room home has 10-foot ceiling height on the main level, a transitional flavor, and offers great living space for all.
A comfortable and elegant living room has a fireplace with marble surround, custom millwork,and French doors to the family room.
The formal dining room has picture frame molding.
The fully applianced designer kitchen has a sleek transitional look, and the center island seats three comfortably. A beautifully sunlit breakfast nook has a wall of windows that overlooks the level rear yard
The family room is open to the kitchen and has a floor-to-ceiling fieldstone fireplace with raised hearth, and transom topped French doors that lead outside to the 642 square foot terrace with stone wall surround
Upstairs, the master bedroom suite has a tray ceiling, and a marble bath with whirlpool tub and glass enclosed shower. Four additional bedrooms are on this level and three are en suite.
The finished lower level includes more than 1,360 square feet of space that includes another bedroom, full bath, and recreation room with a granite-topped wet bar, as well as an “artist’s alcove”.
Schools—Saugatuck, Bedford, Staples
Extras and items to note— five full and two one-half baths, two fireplaces, municipal water, municipal sewer, security system, whole house generator, homeowners association
Annual taxes are $18,423.
Listing/photo courtesy of William Raveis- 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.
