By Judy Szablak
Special to WestportNow
Just over 18 percent of Westport’s available single-family home inventory was built after 2015, and their average list price is just over $2.7 million.
Featured Home: This home at 53 Clinton Ave. is listed at $1,659,000. (CLICK TO ENLARGE) Photo courtesy of Weichert Madison and Post
However, there are a number of newer homes to choose from that were built between 2000 and 2010.
And this creates a bit of a niche market for those who want a newer home and are essentially priced out of it.
According to the statewide SmartMLS, those 47 homes available offer the would-be new construction buyer an interesting alternative.
The average square footage is very similar, yet the overwhelming majority of these homes have only had one owner, and many have had improvements since built.
Just nine of them have been rented since purchased.
Eight gently pre-owned homes are currently under some stage of deposit, and 68 of these homes have sold within the last year.
Those numbers suggest a better than average climate for this specific market niche.
Market Stats
There are now 303 homes that are actively on the market, which have been listed for an average of 127 days, with a cumulative market time of 227 days.
The average list price is now $2,201,406 and the median price is now at $1,695,000.
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.
Twelve 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market in the last seven days, and three properties came back on the market after being under deposit, or temporarily withdrawn. Thirteen properties had a price change.
Six properties have gone under the initial deposit stage, which we call CTS or Show, and another seven 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 seven pending properties was $1,395,285.
There are currently 28 homes in CTS/Show status throughout Westport, and another 40 properties scheduled to close town-wide, with an average price of $1,392,575.
Closings: There were 16 single-family homes reported as sold in the last week, and they were listed on average at $1,407,075 with an average market time of 128 days. There were 87 status changes in the last seven days.
Condos: There are 14 condominiums that are available, and they have been listed an average of 117 days. Their average listing price is $776,424 and the median price is $699,900.
The highest priced condo in town is listed at $1,395,000 and is a three-bedroom home at Terra Nova Circle. 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 no 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 none currently scheduled to close.
One sale was reported during the last week, and was listed at $799,900. There were two status changes.
Rentals: If you are interested in renting year-round, either furnished or unfurnished, there are 87 homes or apartments available.
The median price is $4,500 per month and the average price is $5,645 per month. These year-round rental opportunities have been on the market an average of 78 days.
There are 33 short-term rental opportunities that are available, and they have been on the market an average of 122 days. Their average price is $7,760 and the median price is $5,500.
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.
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 53 Clinton Ave. is listed at $1,659,000.
This 14-room colonial was built by Able Construction in 2004, and includes over 7,000-square feet of elegantly appointed finished living space.
All four finished levels have 9-foot ceiling height, and custom molding, exquisite trim work and extensive use of Cherry wood create a sophisticated yet warm atmosphere throughout.
The columned front portico sets the stage for a stylish interior, beginning with a grand two-story foyer with picture frame wainscoting.
Enter the living room through oversized French doors, and your eyes are immediately drawn to the fireplace with black granite surround.
The dining room has crown molding and a tray ceiling, along with custom picture frame wainscoting.
The gourmet kitchen has Viking stainless steel appliances and black granite counters, while the service island has a contrasting Carrera marble top.
The breakfast nook area with transom topped French doors leads out to the 360-square foot deck, and overlooks the .74-acre exquisitely landscaped grounds with specimen trees that border 2.10 acres of protected state property.
The family room has another fireplace, plenty of built-ins, and is open to the kitchen and breakfast nook area.
Upstairs, the master bedroom suite with fireplace has a spa like bath with imported granite, radiant heated basket weave marble flooring, whirlpool, and separate glass enclosed shower.
Four additional bedrooms are on this level and two are en suite, while two others share a Jack and Jill style bath.
The finished third floor has a large game room, and the lower level has another recreation area that includes a full bath, Hemingway cabinetry, sixth bedroom and library or office space.
Extras and items to note—six bedrooms, five full and one half baths, three fireplaces, hydro-air heating, audio system, security system, heated three car garage, Wagner heated in-ground Gunite pool, Walpole cabana
Listing/photo courtesy of Weichert Madison and Post.
Annual taxes are $20,530.
(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.
