By Judy Szablak
Westport continues to buck the national housing trend.
This Coleytown area home was built in 1785 and is on the market for $2,849,000. (CLICK TO ENLARGE) Photo courtesy of Coldwell Banker Westport Riverside
A few reasons why it has been almost immune to the market are obvious to those living here—the town’s ambiance, a sought after school system, and very reasonable property taxes.
You may be surprised to learn that as one of the wealthiest towns in Connecticut, Westport has almost 30 percent of its homes listed for sale at a under $1 million.
In fact, slightly more than 5 percent of all homes currently on the market are listed at more than $5 million. Exclusive, yes—but very attainable, and that certain “je ne sais quoi” of living in Westport makes it very attractive to home buyers. A look at the latest statistics:
Homes: The average list price is $2,133,035 in Westport, although the median list price for a single family home remains fairly steady at $1,260,500. As of this morning, there are 374 homes available, and they have been listed for sale an average of 97 days.
Thirteen new listings came on the market this week. There were 13 properties that had a price change.
Ten properties have gone under the initial deposit stage, which we call CTS, and 15 properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close.
Closings: Eleven properties sold this past week, and they had an average list price of $1,064,364 and were on the market an average of 163 days. There were 74 status changes in the last week.
Condos: The 27 condominiums that are available have been listed an average of 121 days, and have an average price of $589,896. The median price of a condo in Westport remains at $480,000.
Only one new listing came on the market this week, and one property had a price change. In the last week, two properties went into CTS status, and one property went into pending status.
Closings: No condominiums closed in the last week, There were five status changes in the last seven days.
Rentals: If you are looking to rent year round, either furnished or unfurnished, there are 67 homes or apartments available. The median price is $3,850 per month and the average price is $6,057 per month.
These year round rental opportunities have been on the market an average of 43 days.
There still is a number of seasonal rentals to choose from throughout town. As of this morning, there are 31 opportunities available and they have been on the market an average of 58 days, and at an average price of $12,141 .
The median price of both furnished and unfurnished seasonal rentals is $8,500.
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
Home of the Week: This Federal Colonial Revival is listed for sale at $2,849,000 and is quite rich in history.
Built in 1785, The original house was designed and built for John Gray and his bride Abigail Coley. The Coley family, as you may know, was one of the founding families of Westport.
By the 1900s, this expanded historical gem became the home of noted philanthropist Edward M.M. Warburg, and is also referred to as the Warburg Estate.
Renovations in the 19th, 20th and 21st centuries have all been appropriate to maintain the historical integrity of the property while offering the luxury one would expect, and many period details still remain in this 13-room, five-bedroom, and five-full-and-one-half-bath home.
The original front door is intact, original moldings and woodwork abound, and there are queens pine floors as well as a variety of authentic details throughout its 4746 square foot of living area.
The gated estate is perfectly and privately situated on 2.11 acres with field stone walls, mature trees, terraced grounds and 100’ of direct frontage on the Aspetuck River. Amenities include an in ground pool and tennis court.
Taxes are $19,523 annually.
Listing/photo courtesy of Coldwell Banker Westport Riverside
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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.
