By Judy Szablak
Special to WestportNow
There are currently 75 newly built homes in Westport, 44 of which have a completion date in 2017.
Featured Home: This home at 19 Center St. is listed at $2,475,000. (CLICK TO ENLARGE) Photo courtesy of Westport Residential
Those 75 homes comprise approximately 20 percent of our available inventory, and over the last year 13.8 percent of the new home sales reported to our Multiple Listing Service increased our townwide average sales price by over $157,000.
As of today, 16 newly built homes are under some stage of deposit, and there were 57 sales in the last year that had an average sold price of $2,470,618.
New construction is healthy for the real estate market, and indicates movement from starter homes, to midlevel homes, as well as luxury properties.
According to the National Association of Home Builders, the last six months of new “starts” have consistently been at a higher level than they have been over the last five years.
Market Stats
There are now 373 homes that are actively on the market, which have been listed for an average of 106 days, with a cumulative market time of 197 days. The average list price is $2,199,264 and the median price is $1,699,000.
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-six new homes came on the market in the last seven days, and four properties came back on the market after being under deposit, or temporarily withdrawn. Seventeen properties had a price change.
Thirteen properties have gone under the initial deposit stage, which we call CTS, 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 $1,377,112. There are currently 32 homes in CTS status throughout Westport, and another 76 properties scheduled to close townwide, with an average price of $1,601,112.
Closings: There were 12 single family homes reported as sold in the last week, and they were listed on average at $1,686,408 with an average market time of 104 days. There were 102 status changes in the last seven days.
Condos: There are 11 condominiums that are available, and they have been listed an average of 65 days, with a cumulative market time of 144 days. Their average listing price is $726,588 and the median price is $799,000.
The highest priced condo in town is listed at $1,195,000 and is a three-bedroom home located at Terra Nova Circle, and the lowest priced unit for sale is a one bedroom home on Bridge Street for $215,564.
There were no new listings this week, and no homes came back on the market. There were two price changes, and two properties went under the initial stage of deposit. One property entered pending status.
There are four properties townwide that are currently in CTS status, and there are three properties scheduled to close, with an average list price of $647,833.
No sales were reported during the last week. There were six status changes.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 89 homes or apartments available. The median price is $4,800 per month and the average price is $5,680 per month.
These year-round rental opportunities have been on the market an average of 49 days.
There are 65 short-term rental opportunities that are available, and they have been on the market an average of 91 days. Their average price is $15,404 and the median price is $14,000.
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 GFC-CMLS and represents activity through our local MLS system. Private sales are not included in these statistics.
Featured Home
This home at 19 Center Street is listed at $2,475,000.
This new 16-room transitional colonial in a prime cul-de-sac location in the Greens Farms area incorporates farmhouse design details along with crisp, clean lines.
Newly built by respected HOBI award winning local builders SIR Development, four finished levels offer over 7,500-square feet of living area, with sleek lined millwork and paneling throughout, and wonderfully contrasting lights and darks.
The living room has low profile coffer ceiling detail, and features a gas fireplace with striped Pallasandro stone surround.
Reverse paneled walls and a tray ceiling in the dining room create an elegant and sophisticated look, and the butlers pantry includes a sink and wine fridge.
A stunning gourmet kitchen has custom white cabinetry, honed Carrera marble counters with glass tile backsplash and stainless steel appliances. Basaltina counters on the center island that seats four compliment the room nicely.
The breakfast area has cathedral ceilings, and windows on three sides overlook the level .49-acre fenced property.
The great room is open to the kitchen, and has an inlaid oak ship-lap ceiling, a fireplace with trenched black absolute stone surround, and two sets of sliders that lead out to the bluestone patio.
A main level study/office has built in shelving and cabinetry.
Upstairs, the master bedroom suite has a whitewashed oak beamed tray ceiling with indirect lighting and another fireplace, as well as a large custom closet with dressing area. The luxurious marble bath has dual sinks, a free standing tub and glass enclosed shower
Four additional en suite bedrooms are on this level, and another en suite bedroom is on the third floor.
The lower level includes a playroom, exercise room with mirrored wall, and another en suite bedroom.
Extras and items to note -seven bedrooms, six full and two half baths, three fireplaces, nine foot ceilings on all four levels, security system, public water and sewer, natural gas, room for pool
Taxes have yet to be determined.
Listing/photo courtesy of Westport Residential.
(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.
