By Judy Szablak
The year 2012 is starting off well. There is a marked increase in listing activity year over year already for Westport. There are almost 20 percent more homes available for sale now than there were last year at this time, although the average price is down slightly.
This home at 278 North Ave. is listed at $3,099,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis Westport
The weather has cooperated wonderfully for that gain in market activity this year, and let’s hope that this increase is the beginning of a great year. The market appears to be picking up across the country, and there are now almost 100 Metro areas on the “Improving Market List,” according to the National Association of Home Builders.
The list has more than doubled in the last two months, and our area has been included in that list as of December.
The latest market stats: there are now 271 homes that are actively on the market. The average list price of the available homes is $2,145,937, and is about $85,000 less than it was at the same time last year.
These properties that are currently on the market have been listed for average of 131 days. The median price is now $1,396,500.
The highest asking price for all homes currently on the market is $24,950,000, and the lowest available priced home is $214,900.
Seventeen new listings came on the market in the last seven days, and no homes came back on the market after being under deposit. Five properties had a price change.
Five properties have gone under the initial deposit stage, which we call CTS, and six 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 six pending properties was $2,954,667 and they were on the market an average of 127 days.
Closings: Seven homes were reported as sold in the last week, and they were listed at an average price of $1,075,143, and were on the market an average of 94 days before they sold. There were 60 status changes in the last seven days.
Condos: There are 16 condominiums that are available, and they have been listed an average of 137 days.
Their average listing price is $671,368, and the median price is $539,500. The highest priced condo in town is listed at $1,495,000 and the lowest offering price is $325,000.
Three new listings came on the market in this past week, and no homes came back on the market after being under deposit. There was one price change.
One property went under the initial deposit stage, and no properties went into pending status.
There were two closings, and the average listing price of those properties was $631,680, and these homes were on the market an average of 200 days. There were 10 status changes in the last seven days.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 53 homes or apartments available.
The median price is $3,450 month and the average price is $5,220 per month. These year round rental opportunities have been on the market an average of 107 days.
There are 11 seasonal rental opportunities available, and they have been on the market an average of 36 days, with an average price of $23,977.
The median price is $19,500. 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 278 North Ave. is listed at $3,099,000.
This sprawling Nantucket-style stone and shingle style colonial is in the heart of Coleytown, built to perfection, and designed for the entertainer at heart.
Built in 2006, this designer’s own custom 16-room home is on one professionally landscaped acre, and boasts 8,878 square feet of living area, gleaming wide planked oak floors and six fireplaces.
The grand two-story entrance foyer has marble floors, specialty moldings, recessed panel wainscoting and chair rails.
The living room has crown molding, a marble fireplace and oversized windows that allow a multitude of natural light into the room.
The banquet-sized dining room has more specialty molding, recessed panel wainscoting, and takes full advantage of a beautifully landscaped backyard and view through a wall of windows.
The oversized family room has delicately coffered ceilings, a floor to ceiling stone fireplace and triple French doors to screened porch and rear patio.
A magnificent cherry office/study offers more coffered ceilings, cherry paneling, a stone fireplace, and access to the 1,056 square foot veranda.
The chef’s kitchen has beautiful and functional custom cabinetry and premium stainless appliances, along with two granite-topped service islands and a walk-in pantry. The butlers pantry has a wine cooler, bar sink, and another dishwasher.
The second floor landing is also detailed and quite spacious with an informal reading area.
This often forgotten area of many homes is finely detailed here, with recessed panel wainscoting, coffered ceilings, and wraparound areas overlooking the foyer.
There are six bedrooms on this level, and each of the bedrooms are en-suite. There are a total of seven full and two one-half baths throughout the home.
The master bedroom has a delicately coffered tray ceiling, fireplace, a sun-drenched sitting room, a spa-like marble bath with steam shower, and dual walk in closets.
The lower level has 9-foot ceilings, and approximately 2,000 square feet of sunlit living space complete with a recreation room with another fireplace, and gym area.
Extras and items to note: Hydro-air heating system; 30-foot by 16-foot mahogany deck; in-ground heated pool; stereo surround sound.
Every room in this home is spacious and sun-drenched, well configured, and there is an abundance of elegance and charm not easily found in this price range.
Annual taxes are $45,241. 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.
