By Judy Szablak
Special to WestportNow
Negotiating your home sale or purchase in Westport is a fine art, and you or your agent should look for clues to decipher the personalities, timing, and communication styles involved in order to best negotiate an agreement.
Featured Home: This newly built 11-room home at 7 Tupelo Road is listed at $1,999,999. (CLICK TO ENLARGE) Photo courtesy of Coldwell Banker Westport-Riverside and William Raveis Westport.
Some people reply as quickly as possible, yet others have to mull things over before they give an answer.
Know which type of personality you are dealing with. A fast counter-offer may not necessarily mean the other side is overly anxious, and a slower than expected response does not always mean that the other party is not motivated or interested in pursuing a transaction.
One wrong move in negotiations can either cost you money, or even lose the deal, so be very careful. Emotions can run high, and tempers can flare over otherwise minor items.
There are always signs as to how the other side likes to negotiate. Look for those signs, and proceed accordingly.
Reaching an agreement is really a compromise of sorts. Put yourself in the other person’s shoes. In other words, look at the situation in a different manner.
It is crucial to understand how to read the other side, and react in a way that allows them to feel good about negotiations which makes for a smoother transaction.
Market Stats
There are 267 homes actively on the Westport market and have been listed for an average of 114 days, with a cumulative market time of 233 days. The average list price is $2,288,885 and the median price is $1,775,000.
A contemporary home on Compo Mill Cove is the highest priced home for sale at $13 million, and the lowest available priced single family is a home on Oakview Circle for $439,000.
Twenty-two new listings came on the market in the last seven days, and three properties came back on the market after being under deposit, or temporarily withdrawn. Six properties had a price change.
Thirteen properties have gone under the initial deposit stage, which we call CTS, and three 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 three properties was $1,126,633. There are 24 homes in CTS status throughout Westport, and another 31 properties scheduled to close town-wide, with an average price of $1,626,635.
Closings: There were six single family homes reported as sold in the last week, and they were listed on average at $2,296,167 with a market time of 220 days. There were 67 status changes in the last seven days.
Condos: This segment of the market is very quiet. There are six condominiums that are available, and they have been listed an average of 115 days. Their average listing price is $733,667 and the median price is $690,000.
The highest priced condo in town is listed at $1,238,000 and is a three bedroom-home at Terra Nova Circle, and the lowest priced unit for sale is a one-bedroom home on Bridge Street for $211,000.
There were no new listings this week, and no homes came back on the market, There were no price changes, and no properties went under the initial stage of deposit, or pending status.
There are no properties town-wide that are currently in CTS status, and there are no properties that are scheduled to close.
No sales were reported during the last week.There were no status changes.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 47 homes or apartments available. The median price is $4,500 per month and the average price is $5,048 per month.
These year round rental opportunities have been on the market an average of 103 days.
The seasonal rental market is beginning to heat up. There are 38 short-term rental opportunities that are available, and they have been on the market an average of 60 days.
Their average price is $18,729 and the median price is $15,500. 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.
Spurce: 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 newly built 11-room home at 7 Tupelo Road is listed at $1,999,999.
Located on a desirable cul-de-sac in the Coleytown area, this five-bedroom home overlooks a scenic and picturesque pond, and offers wonderful privacy on its 1.53-acre lot.
An open and modern 5,333-square foot floor plan perfectly blends a transitional flavor with traditional styling to create the comfortable atmosphere with its cool and crisp design.
The two-story foyer is more than welcoming, and sets a wonderful stage for an open flow that continues throughout both levels.
The sunlit living room has a fireplace with marble surround and is to the left of the grand foyer. To the right, the area opens to the formal dining room in a pleasing manner.
A custom designer white gourmet kitchen with granite counters has top of the line stainless steel appliances, and a contrasting center island with vegetable sink and wine cooler that seats four comfortably. The breakfast area is open, sunlit and spacious.
The sunken family room has a beamed ceiling, a floor to ceiling field-stone fireplace and two sets of French doors to the blue-stone patio.
An additional playroom/large gathering area has three sets of French doors leading out to the 644-square foot wrap-around deck.
The main level office can easily double as an en suite bedroom, and also has French doors to expansive decking.
Upstairs, the generously sized master bedroom suite has a vaulted ceiling, a dressing area and an extra large walk-in closet. The elegant Carrera marble bath has a whirlpool, separate shower, and water closet.
Three other bedrooms are on this floor, and two are en suite. All three share a large sitting area with cathedral ceilings and two story windows.
Extras and items to note =- 9-foot ceilings, four full and two one-half baths, two fireplaces, three car garage with large finishable storage area above, wraparound deck, approved pool site.
Annual taxes are $25,534.
Listing/photo courtesy of Coldwell Banker Westport-Riverside and 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.
