By Judy Szablak
Special to WestportNow
There are opportunities for both sellers and buyers in all in Westport’s real estate market under $1 million.
Featured Home: This home at 10 Maplewood Ave. is listed at $699,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis- Westport
Twenty-three percent of single family homes available are listed under $1 million. That is a nicely balanced mix that slightly favors sellers over buyers, yet still offers a selection for buyers.
There are 79 homes in this price pocket, and statistics indicate nearly three weeks less market time than the town on average. Forty-seven percent of these properties are located in the Coleytown, Long Lots and Greens Farms areas.
The market for the starter range is healthy, and helps to create a domino effect for the upper ranges, as these homeowners tend to move up within the town.
Currently, 32 homes are under some stage of deposit, and 111 homes sold year to date.
Market Stats
There are now 340 homes actively on the market, which have been listed for an average of 124 days, with a cumulative market time of 228 days. The average list price is now $2,230,136 and the median price is above our norm at $1,762,000.
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.
Ten new listings came on the market in the last seven days, and one property came back on the market after being under deposit, or temporarily withdrawn. Twenty-two properties had a price change.
Seven properties have gone under the initial deposit stage, which we call CTS or Show, and another five 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 five pending properties was $1,182,400. There are currently 25 homes in CTS/Show status throughout Westport, and another 43 properties scheduled to close townwide, with an average price of $1,491,109.
Closings: There were four single-family homes reported as sold in the last week, and they were listed on average at $999,500 with an average market time of 100 days. There were 58 status changes in the last seven days.
Condos: There are 11 condominiums that are available, and they have been listed an average of 124 days. Their average listing price is $844,327 and the median price is $745,900.
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 Whitney Glen for $450,000.
There were no new listings this week, and no homes came back on the market. There were three price changes, and no properties went under the initial stage of deposit. One home entered pending status, and was listed at $299,000.
There are no properties townwide that are currently in CTS/Show status, and there are three properties scheduled to close that are listed on average at $831,300.
One sale was reported during the last week, and was listed at $639,000. There were five status changes.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 96 homes or apartments available. The median price is $4,450 per month and the average price is $5,832 per month. These year round rental opportunities have been on the market an average of 70 days.
There are 32 short-term rental opportunities that are available, and they have been on the market an average of 110 days. Their average price is $7,972 and the median price is $6,175.
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 10 Maplewood Ave. is listed at $699,000.
This vintage farmhouse colonial is brimming with character and is located on a sought after in town location.
Originally built in 1929, this beautifully renovated charming eight-room home includes over 1,600-square feet of living area, as well as a deep fenced-in .18-acre lot.
The generously sized living room has half-height plantation style shutters for privacy, and opens to the dining room which creates an open and easy flow.
The dining room includes a built-in corner curio cabinet and chair rails. Half-height plantation style shutters match those in the living room.
The kitchen has concrete counters, stainless steel appliances and wonderfully charming storage areas. The back door leads out to the 17-foot by 20-foot deck and overlooks the private rear property.
A main level sunroom is full of light and offers a peaceful place to relax.
All three bedrooms are on the upper level, and the has a designer bath has a marble topped vanity and floors.
The lower level includes a family room that is perfect for a media center.
Extras and items to note — three bedrooms, one full and one half bat, finished walk up attic, 318-square foot finished lower level, public water and sewer, natural gas in street, fenced and level lot, 340-square foot deck.
Annual taxes are $5,567.
Listing/photo courtesy of 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.
