By Judy Szablak
Special to WestportNow
Consider renovating your home to maximize future resale in Westport, as well as your own comfort while you are still living there.
This home at 8 Hunt Club Lane is listed at $1,599,000. Photo courtesy of Coldwell Banker/KMS Partners.
Some improvements have a more positive effect on your home’s worth than others, while others are much less substantial.
Pay very close attention to curb appeal. If two homes were exactly alike on the inside, and one had outstanding curb appeal while the other one didn’t, the home with better curb appeal would sell faster and for more money.
A well designed kitchen remodel ranks very high on return on investment. If your home improvement budget were to be focused on just one room, focus on the kitchen. Buyers tend to be somewhat more tolerant of a dated bathroom, especially if the kitchen is outstanding.
A few of the least expensive things you can do to change your home’s interior appearance is to neutralize the wall colors, and add, refinish or re-stain hardwood flooring. Some paint colors or wood stains will give the entire home a dated appearance — make sure you choose from a current palette.
Do your research, and ask for professional guidance to ensure that the end result of whatever improvements you decide to do today will make a positive impact on your home’s marketability in the future.
Market Stats
There are now 336 homes that are actively on the market, which have been listed for an average of 131 days, with a cumulative market time of 210 days. The average list price is now $2,207,681 and the median price is now at $1,589,500.
A home on Beachside Avenue is the highest priced property for sale at $22.5 million, and the lowest available priced single family is a three-bedroom home on Crescent Park for $378,500.
Twenty-two new listings came on the market in the last seven days, and five properties came back on the market after being under deposit, or temporarily withdrawn. Thirty-one properties had a price change.
Three properties have gone under the initial deposit stage, which we call CTS or Show, and 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 $1,558,580. There are currently 16 homes in CTS/Show status throughout Westport, and another 31 properties scheduled to close townwide, with an average price of $1,576,026.
Closings: There were eight single family homes reported as sold in the last week, and they were listed on average at $1,641,238 with an average market time of 127 days. There were 90 status changes in the last seven days.
Condos: There are 17 condominiums that are available, and they have been listed an average of 87 days, with an average cumulative market time of 156 days. Their average listing price is $627,796 and the median price is $679,000.
The highest priced condo in town is listed at $1,079,000 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 $233,700.
There were no new listings in the last seven days, and no properties came back on the market. Four properties had a price change, and no homes took an initial deposit. Two homes entered into pending status, and were listed on average at $537,500.
There are two properties townwide in CTS/Show status, and three properties that are currently scheduled to close that are listed on average at $621,667.
No sales were reported during the last week. There were seven status changes.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 86 homes or apartments available. The median price is $4,325 per month and the average price is $6,075 per month. These year round rental opportunities have been on the market an average of 82 days.
There are 45 short-term rental opportunities that are available, and they have been on the market an average of 115 days. Their average price is $9,187 and the median price is $6,000. 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 SmartMLS and represents activity through our statewide MLS system. Private sales are not included in these statistics.
Featured Home:
This home at 8 Hunt Club Lane is listed at $1,599,000.
This beautifully updated 5,691-square foot colonial in the heart of the Hunt Club area has elegant trim and finishing work throughout its wonderfully open and flexible floor plan.
There really are no traces of a home that was originally built in 1963; the well planned and executed renovations, and home amenities are specifically designed for today’s needs and create a flow and atmosphere which is perfect for entertaining
Custom molding in the living room, and an octagonal fully windowed separate sitting area with recessed cove lighting create wonderful living spaces.
The formal dining room has custom wainscoting and a large bay window for added sunlight. A butler’s pantry has plenty of storage, granite counters and a wine fridge.
A rich custom Cherry wood kitchen has granite counters, a center island that seats two comfortably, and flows effortlessly to the family room on one side, and the informal dining area with charming fireplace that is open to the inviting sunroom overlooking the pool on another side.
The family room has a cathedral ceiling, and the stone fireplace is flanked by palladian windows on either side. French doors lead out to the 921-square foot bluestone patio with built in grill and the level and parklike 1.06-acre lawn.
Upstairs, the master bedroom suite also has a cathedral ceiling, as well as a sunlit octagonal sitting room, and a private 142-square foot covered balcony overlooking the bucolic property.
Three additional bedrooms are on this floor, and two are en suite.
The finished lower level has a great room/media room and a recreation area.
Extras and items to note: four and one half baths, bonus upstairs playroom/office, two gas fireplaces, audio system, second floor office with built-ins, security system, heated in-ground pool, generator, large walk up attic, public water, natural gas, cul-de-sac location.
Annual taxes are $19,139.
Listing/photo courtesy of Coldwell Banker/KMS Partners.
(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.
