By Judy Szablak
Special to WestportNow
Broadly speaking, real estate activity in Westport has been somewhat light in the past few weeks.
Featured Home: This home at 5 Viking Green is listed at $1,199,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis Westport- Dryburgh & Associates
However, and interestingly enough, initial deposit activity is tending to favor a neutral market that leans toward sellers.
Overall activity incorporates various changes in a home’s status, which includes new homes on the market, price changes, deposits, closings, and properties that fall off the market either by withdrawal or cancellation.
Status changes over the last few weeks have been less than half of what we see during the spring season, yet the deposit activity remains relatively strong by comparison.
All of that continues to point to a strong last quarter.
Opportunities are clearly evident for sellers at this time with fewer homes coming on the market and less competition.
Market Stats
There are now 336 homes actively on the market that have been listed for an average of 125 days, with a cumulative market time of 225 days. The average list price is now $2,222,014 and the median price is now at $1,724,500.
A home at 114 Beachside Ave. is the highest priced property for sale at $28 million, and the lowest available priced single family is a four-bedroom home on Saugatuck Avenue for $339,000.
Thirteen new listings came on the market in the last seven days, and no properties came back on the market after being under deposit, or temporarily withdrawn. Sixteen properties had a price change.
Seven properties have gone under the initial deposit stage, which we call CTS or Show, and another 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 those six pending properties was $1,194,333. There are currently 26 homes in CTS/Show status throughout Westport, and another 42 properties scheduled to close townwide, with an average price of $1,332,969.
Closings: There were eight single-family homes reported as sold in the last week, and they were listed on average at $2,183,500 with an average market time of 99 days. There were 65 status changes in the last seven days.
Condos: There are 12 condominiums that are available, and they have been listed an average of 121 days. Their average listing price is $793,494 and the median price is $722,900.
The highest priced condo in town is listed at $1,395,000 and is a three-bedroom home located at Terra Nova Circle, and the lowest priced unit for sale is a two-bedroom home on Bridge Street for $274,330.
There was one new listing this week, and no homes came back on the market. There were two price changes, and no properties went under the initial stage of deposit or pending status.
There are no properties townwide that are currently in CTS/Show status, and there are two properties scheduled to close that are listed on average at $1,097,450.
One sale was reported during the last week, and was listed at $299,000. There were four status changes.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 93 homes or apartments available. The median price is $4,300 per month and the average price is $5,639 per month.
These year-round rental opportunities have been on the market an average of 72 days.
There are 32 short-term rental opportunities that are available, and they have been on the market an average of 123 days. Their average price is $7,779 and the median price is $5,475.
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 SmartMLS and represents activity through our statewide MLS system. Private sales are not included in these statistics.
Featured Home
This home at 5 Viking Green is listed at $1,199,000.
This beautifully renovated 13-room Coleytown contemporary has an exceptionally versatile layout, along with frontage and peaceful views of the West Branch of the Saugatuck River.
Located at the end of a private cul-de-sac, and perfectly sited on 1.05 tranquil acres, its three levels of living area add up to 5,770-square feet of living space.
The living room with cathedral ceilings has an oversized stone fireplace with raised hearth and a custom wood mantel.
The dining room has cathedral ceilings with tall windows that offer peaceful views of the property. Custom floor to ceiling cabinetry seems to disappear into the wall and offers plenty of storage.
The chef’s kitchen has plenty of cabinetry, top of the line stainless steel appliances, and granite counters. A very well designed L-shaped center island seats three comfortably, and provides a great additional space for preparing food, or entertaining.
Two sets of sliders lead out to multilevel wraparound decking.
The breakfast nook includes more cabinetry, a wine fridge, and has a large picture window overlooking the level property.
A main level den is perfect for either a place of respite or a first floor office.
The hard to find main level master suite has an exquisite custom bath with glass enclosed shower and plenty of closet space.
Three additional bedrooms are on the upper level, and each has cathedral ceilings.
The finished garden level is the size of a small home in itself, and could easily be converted to a very accommodating in-law or nanny suite; with its family room with fireplace, recreation area, office and en suite bedroom.
Extras and items to note—five bedrooms, four full and one-half baths, two fireplaces, security system, oversized two-car garage, 1,037-square feet of decking, 642-square foot patio, river views
Annual taxes are $14,264.
Listing/photo courtesy of William Raveis Westport- Dryburgh & Associates.
(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.
