By Judy Szablak
The Westport real estate market is still very active for this time of year, and despite economic turmoil elsewhere, all signs still point to the positive.
Built in 1930, this storybook Coleytown colonial at 30 Charcoal Hill Road was once the residence of noted New England architect and author Frazier Forman Peters. It is listed at $2,199,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis Westport.
Almost twice as many homes were reported closed in this past week as what was reported two weeks ago. The median price is holding steady, and the average listing price is holding steady.
In addition, the average of 66 days on the market is an an uncommonly low market time for the type of real estate market that we have been experiencing of late.
Slow and steady progress is always best, and a slight dip downward now and then is nothing to be overly concerned about, just like an occasional upturn in the market is nothing to get excited about.
The market is performing in a healthy manner at this very moment, and it has been a long time coming, but I’m not ready to say that we are out of the woods just yet
Homes: There are 347 single family homes on the market, and their average list price is $2,138,652. These homes have been listed for sale an average of 115 days, and the median price is $1,324,000.
The highest asking price for all homes currently on the market is $24,950,000, and the lowest available priced home is $294,900. Five bedroom homes comprise roughly 48 percent of the available inventory and their average list price is $2,926,838.
There are currently 98 four-bedroom homes available in town, and their average list price is $1,733,857. Lastly, if you are in the market for a three-bedroom home, the average list price is $1,041,195 and there are 73 available.
Eleven new listings came on the market in the last seven days, and two homes came back on the market after being under deposit.
Five properties had a price change, and 11 properties have gone under the initial deposit stage, which we call CTS. Nine properties went into pending status, which means that the conditions have been satisfied, and the property is scheduled to close.
Closings: Seventeen homes were reported as sold in the last seven days, and their average list price was $1,311,529, and these homes were on the market an average of just 66 days. There were 69 status changes in the last seven days.
Condos: The 30 condominiums that are available have been listed an average of 98 days, and have an average price of $617,561. The median price of a condo is $492,450. The highest price condo in town is listed at $1,595,000 and the lowest offering price is $227,351.
Two new listings came on the market this week, and one property had a price change. No properties went into CTS status, and two properties went into Pending status.
Closings: One condominium closed in the last week, was listed at $829,000 and took just 35 days to sell. There were six status changes in the last seven days.
Rentals: If you are looking to rent year round, either furnished or unfurnished, the inventory is down by about 20 percent since a few weeks ago and there are just 61 homes or apartments available.
The median price is $4,825 per month, and the average price is $6,982 per month. These year round rental opportunities have been on the market an average of 61 days.
There are 11 seasonal rental opportunities available and they have been on the market an average of 82 days, and at an average price of $9,122. The median price of both furnished and unfurnished seasonal rentals is $7,125.
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 charming colonial at 30 Charcoal Hill Road is listed at $2,199,000.
Built in 1930, this storybook Coleytown colonial was once the personal residence of noted New England architect and author Frazier Forman Peters, who designed and built this home for himself and his family of seven children.
An architectural pioneer and visionary in his time, his homes reflect special attention to the property’s landscape, the use of fieldstone, and his love of brooks and streams.
This beautifully landscaped estate is privately set on 2.39 picturesque acres with a multitude of patios and terraces to enjoy the waterfall, meandering brook and the scenic surroundings.
Ideally situated on the grounds are a Har-Tru tennis court, and an in-ground pool with its own pool house that has its own fireplace.
Inside this charismatic and historically significant 12-room home are six bedrooms, four and one-half baths and four fireplaces.
Unique architectural details abound, and there is exceptional fieldstone masonry work inside and outside of this 5,215 square foot quintessential New England home.
The main level has a formal living room with a fireplace, and an expansive sunlit family room with a wood burning stove, cathedral ceilings and exposed beams.
The family room is also open to the remodeled gourmet kitchen, complete with a breakfast bar. The dining room has another fireplace.
There are plenty of quite charming gathering rooms including an office and a media room, and hardwood floors throughout. A screened porch overlooks the thoroughly enchanting grounds.
Six bedrooms are all on the second floor, including the master bedroom which has a fireplace, its own private bath, plenty of built-ins and a balcony overlooking the property and stone terraces.
A walk-up attic has standard height ceilings, and can easily be converted to au-pair quarters if desired, or additional living space.
This home is an architectural gem to be admired, lived in, and enjoyed.
Annual taxes are $23,145. 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.
