By Judy Szablak
The Westport real estate market is an active one and performing more steadily than many of its neighbors.
This house at 32 Edgewater Hillside capitalizes on its spectacular natural setting overlooking the Sherwood Mill Pond. It is listed for just under $2.9 million. (CLICK TO ENLARGE) Photo courtesy of The Higgins Group
The number of closings last week is right on par with the week before, and since traditionally there are more closings at the end of the month, I would consider the last seven days a great week for Westport real estate.
Homes: The median list price for a single family home in Westport is $1,262,450. As of this morning, there are 353 homes actively on the market for 98 days and are listed at an average of $2,134,490.
Three new listings came on the market this week, and two homes came back on the market after being under deposit. There were 12 properties that had a price change.
Eleven properties have gone under the initial deposit stage, which we call CTS, and 12 properties went into pending status, which means that the conditions have been satisfied, and the property is scheduled to close.
Closings: Sixteen properties sold this past week, and they had an average price of $1,501,625 and were on the market an average of 80 days. There were 67 status changes in the last week.
Home highlight of the week: Built in 2007, this stucco home located at 32 Edgewater Hillside is currently listed for sale at $2,899,900 and has 122 feet of direct waterfront on Mill Pond.
Designed by award winning architect Roger Bartels, this very unique home has been honored in Architectural Digest as one of the top design projects of 2008, and named Best Custom Home by the Connecticut Home Builder’s Association.
This 11-room, three-bedroom, three and one-half bath home sits on just under one-half an acre, and has 3,248 square feet of living area, with every attention to detail painstakingly planned and well executed.
Situated to take full advantage of the spectacular sunrises and sunsets, the specific east/west orientation capitalizes on its spectacular natural setting.
Each room has a water view, the floors are solid Brazilian Santos mahogany, and this fortress of a cottage was built as per post-Katrina specs to withstand a category four hurricane.
Annual property taxes are just under $22,000 and are very reasonable for this outstanding home. Listing courtesy of The Higgins Group.
Condos: The median price of a condo in Westport remains at $457,000.The condo market, although not as healthy as the single family market, is not anything to be concerned about—there were three closings in the last week alone.
The 21 condominiums that are available have been listed an average of 126 days, and have an average price of $590,008. No new listings came on the market this week, and two properties had a price change.
In the last week, one property went into CTS status, and no properties went into pending status.
Closings: Three properties closed in the last week, were listed at an average price of $699,900 and were on the market an average of 290 days. There were seven status changes for the week.
Rentals: If you are looking to rent year round, either furnished or unfurnished, there are 62 homes or apartments available. The median price is $3,550 per month and the average price is $5,595 per month. These year-round rental opportunities have been on the market an average of 44 days.
There are many seasonal rentals to choose from throughout town. As of this morning, there are 42 opportunities available, and they have been on the market an average of 50 days, and at an average price of $16,833.
The median price of both furnished and unfurnished seasonal rentals is $10,250.
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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.
