By Judy Szablak
Special to WestportNow
New construction homes account for 18.7 percent of all the available single family inventory in Westport.
Featured Home: This home at 48 Hillandale Road is listed at $2,195,000. (CLICK TO ENLARGE) Photo courtesy of Real Living Five Corners Properties
There are currently 53 active newly built listings throughout town with an average price of $2,664,782.
Some areas have more new homes than others, and not necessarily because the market is slower in those neighborhoods. It has more to do with opportunities that present themselves to builders.
For example, there are 38 homes available in Greens Farms, and 23.7 percent of the neighborhood’s inventory consists of new construction, with an average price of just over $3.1 million.
Although the Greens Farms area average pricing is over $450,000 higher than the townwide numbers, these homes are approximately 650-square feet larger, and the average lot size is greater by over one-third of an acre.
Interestingly enough, both the highest and lowest priced new homes for sale in town are in Greens Farms; 10 Gray Lane at $6,499,000 and 34 Maple Lane at $1,299,000.
Market Stats
There are now 283 homes that are actively on the market, which have been listed for an average of 120 days, with a cumulative market time of 202 days. The average list price is now $2,119,684 and the median price is down slightly to $1,670,000.
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.
Twenty-one 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the market in the last seven days, and no properties came back on the market after being under deposit, or temporarily withdrawn. Fourteen properties had a price change.
Ten properties have gone under the initial deposit stage, which we call CTS or Show, and another eight 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 eight pending properties was $1,655,988. There are currently 40 homes in CTS/Show status throughout Westport, and another 41 properties scheduled to close townwide, with an average price of $1,707,741.
Closings: There were six single-family homes reported as sold in the last week, and they were listed on average at $1,271,983 with an average market time of 93 days. There were 73 status changes in the last seven days.
Condos: There are 11 condominiums that are available, and they have been listed an average of 95 days, with a cumulative market time of 146 days. Their average listing price is $622,351 and the median price is $498,999.
The highest priced condo in town is listed at $1,249,000 and is a three-bedroom home at Terra Nova Circle, and the lowest priced unit for sale is a two-bedroom home on Bridge Street for $254,330.
There were two new listings in the last seven days. No properties rook a deposit, or had a price change.
There is one property townwide that is currently in CTS/Show status, and three properties are currently scheduled to close.
One sale was reported during the last week, and was listed at $564,000. There were three status changes.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 62 homes or apartments available. The median price is $6,000 per month and the average price is $6,196 per month.
These year-round rental opportunities have been on the market an average of 123 days.
There are 65 short-term rental opportunities that are available, and they have been on the market an average of 100 days. Their average price is $14,046 and the median price is $8,500.
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.
Coming soon: 29 River Lane -$1,599,000
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 48 Hillandale Road is listed at $2,195,000.
This newly built and expertly crafted Greens Farms colonial has a crisp, clean and elegant interior that has just a hint of transitional flair.
This richly detailed 17-room home has 9-foot ceilings throughout its 6,650-square feet of above-grade living area, and an additional 2,213-square feet of finished space in the walk-out garden level.
The living room has coffered ceilings, crown molding, three-quarter height wainscoting and a gas fireplace.
The dining room also has crown molding, coffered ceilings and three-quarter height wainscoting.
A sleekly designed gourmet kitchen with Carrera marble counters includes top of the line stainless steel appliances. The matching center island with vegetable sink seats three comfortably, and the breakfast area bay overlooks the tree lined and level 1.22-acre property.
The family room is open to the kitchen area, and has transom topped French doors that lead out to the deck. A fireplace with custom mantel has built-in cabinet storage on either side.
A handsome library on the main level just off the foyer has three-quarter height wainscoting, along with shelving and built-ins.
Upstairs, the master bedroom suite occupies the entire left wing, and a ventless fireplace adds a wonderfully romantic touch. An elegant marble bath features a free-standing soaking tub and an oversized glass enclosed shower with multiple jets.
Four additional bedrooms are on this level, and two share a “Jack and Jill” style bath, while the others are en suite.
The expansive third level is fully finished with another bedroom and full bath, which make it an easy option for an teen or nanny suite.
The finished walk-out garden level offers another opportunity for au pair quarters a large recreation area with fireplace, another bedroom, full bath and exercise room.
Extras and items to note — seven bedrooms, six full and one half baths, four fireplaces, 9-foot ceiling height, 22-foot covered front porch, 406-square foot patio.
Annual taxes are $27,490.
Listing/photo courtesy of Real Living Five Corners Properties.
(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.
