By Judy Szablak
Westport’s year-to-date sales are just a little behind 2013, and the polar vortex we experienced most certainly put a slight damper on what could have been a better start.
This home at 51 Bermuda Road is listed at $3,648,000. (CLICK TO ENLARGE) Photo courtesy of Halstead Property/Westport.
But by no means is a decline of 10 sales throughout this period worth being overly concerned about.
The 20 percent dip in unit sales is in contrast to a recent report from Realtor.com, which states that this year’s home buying season has started strong throughout much of the country. Much of the country that wasn’t pummeled by snow, that is.
Average sale prices across the board are within $5,000 of what they were last year in Westport, and market time has decreased by an average of 33 days.
Homes with five or more bedrooms are showing average gains of nearly $150,000, and the sales price to list price ratio for these homes has increased by over three percent- all when the weather has been anything but cooperative.
Market Stats
There are now 272 homes that are actively on the market. These currently available properties have been listed for average of 103 days, with a cumulative market time of 174 days. The average list price is now $2,550,948 and the median price is now $2,047,000.
A new five bedroom colonial at 8 Bluewater Lane is the highest priced home for sale at $14,500,000, and the lowest available priced home is a two bedroom home on Crescent Park for $289,000.
Twenty-four 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the market in the last seven days, and no properties came back on the market after being under deposit, or temporarily withdrawn. Eight properties had a price change.
Thirteen properties have gone under the initial deposit stage, which we call CTS, and another 10 properties went into pending status, which means that the conditions have been satisfied, and the property is scheduled to close.
The average price of these 10 pending properties is $1,778,500. There are currently 37 homes in CTS status throughout Westport, and another 46 properties scheduled to close town-wide, with an average price of $1,832,041.
Closings: There were eight single family home reported as sold in the last week, and were listed on average at $2,316,500, and sold with an average market time of 131 days. There were 69 status changes in the last seven days.
Condos: There are 12 condominiums that are available, and they have been listed an average of 62 days. Their average listing price is $668,658 and the median price is $737,000.
The highest priced condo in town is $935,000 and is a two bedroom home located at Lansdowne, and the lowest priced unit for sale is a one bedroom home on Sylvan Lane for $304,000.
There were two new listings this week, and no homes came back on the market after being under deposit. There were no price changes, and two properties entered into the initial stage of deposit.
Two homes entered the pending stage of deposit, and their average price was $670,750.
There are three properties town-wide that are currently in CTS status, and two homes that are scheduled to close, which are listed on average at $670,500
One sale was reported during the last week, and was listed at $682,500. There were seven status changes reported.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 26 homes or apartments available. The median price is $4,675 per month and the average price is $6,031 per month. These year round rental opportunities have been on the market an average of 54 days.
There are 24 short-term rental opportunities that are available, and they have been on the market an average of 49 days. Their average price is $17,083, and the median price is $15,500. 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.
SourceL 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 51 Bermuda Road is listed at $3,648,000.
This contemporized colonial style home sits on over one-half acre with direct water frontage.
With nearly 5,300 square feet of living area that includes 15 rooms and four bedrooms, this home is brimming with character. Some of its additional outstanding features include beautifully designed architectural detailing, and a gracious, open and flowing floor plan.
The living room has an architecturally designed cathedral ceiling, and an extra wide gas fireplace with limestone surround, as well as French doors to the front balcony offering beautiful sunset views of the Bermuda Lagoon.
The dining room has layered crown molding and stunning millwork.
A gourmet kitchen features top of the line appliances and custom cabinetry, extensive counter space and limestone tops. Casual meals are made easy with either the breakfast bar or the informal dining area.
The great room is open to the kitchen and features a beamed cathedral ceiling, and stone fireplace with raised hearth. French doors lead to another balcony with views of Cockenoe Island and the salt marsh.
The main level master bedroom suite has a tray ceiling with rich crown molding, and two large walk-in closets. A luxurious marble bath has double sinks, deep jetted tub, and a separate glass enclosed shower
There are three additional good sized bedrooms, and one is en suite
A garden level also features a library with crown molding and a wall of built ins, a family room with brick fireplace, and a workshop.
Extras and items to note—water frontage, security system, audio system, exercise room, wine cellar, A2 survey, elevation certificate available, annual association fee, deep water dock available through the association
Annual taxes are $32,197.
Listing/photo courtesy of Halstead Property/Westport.
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(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.
