By Judy Szablak
With more than 400 homes closed year-to-date, Westport is up more than 33 percent over the comparable 2012 figure of 299, and the average sales price is up 8.9 percent to $1,533,349.
This home at 3 Charcoal Lane is listed at $1,849,000. (CLICK TO ENLARGE) Photo courtesy of Coldwell Banker Westport-Riverside
Our figures are at minimum right in line, or above the national numbers. The majority of the real estate markets throughout the country posted gains, with 33 percent showing double digit unit sale increases.
This represents the strongest annual growth in almost eight years, according to the latest quarterly report by the National Association of Realtors.
The median existing single-family home price increased in 144 out of 163 Metropolitan Statistical Areas, which amounts to 88 percent of the measured markets, and was based upon closings in the third quarter compared with the third quarter of 2012.
While national statistics may not seem so relevant on a local basis, they are important to gauge some aspects of future local market growth, and to ensure that local trends are not an anomaly as compared to the national market.
Judging by our year to date figures, we are either on par or outperforming many metros at just the right pace, and that bodes very well as we near 2014.
Market Stats
There are now 254 homes that are actively on the market. The average list price of these available homes is $2,336,764, and these properties have been listed for average of 121 days, with a cumulative market time of 203 days. The median price is currently at $1,782,500.
The seven-bedroom colonial at 2 Manitou Court is the highest listed property in town at $12,985,000, and the lowest available priced home is a two-bedroom ranch on Crescent Park for $289,000.
Thirteen new listings came on the market in the last seven days, and two homes came back on the market after being under deposit. Eight properties had a price change.
Nine properties have gone under the initial deposit stage, which we call CTS, and nine 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 nine pending properties is $2,096,778. There are currently 27 homes in CTS status throughout Westport, and another 44 properties scheduled to close town-wide, with an average price of $1,823,727.
Closings: There were 12 single family homes reported as sold in the last week, were listed on average at $1,748,702, and sold with an average market time of 119 days. There were just 62 status changes in the last seven days.
Condos: There are 10 condominiums that are available, and they have been listed an average of 69 days. heir average listing price is $668,680 and the median price is $721,500.
The highest priced condo in town is $899,000 and is a three-bedroom home located at Regents Park, and the lowest priced unit for sale is a two-bedroom home at Whitney Glen for $399,000.
There was one new listing this week, and no homes came back on the market after being under deposit. There were no price changes, and one property entered into the initial stage of deposit. No homes entered the pending stage of deposit.
There is one property town-wide that is currently in CTS status, and three homes are scheduled to close that are listed on average at $671,000.
No sales were reported during the last week. There were two status changes reported.
Rentals: If you are interested in renting year-round, either furnished or unfurnished, there are 61 homes or apartments available. The median price is $5,500 per month and the average price is $5,745 per month.
These year-round rental opportunities have been on the market an average of 59 days.
There are 30 short-term rental opportunities that are available, and they have been on the market an average of 60 days. Their average price is $5,525, and the median price is $4,675.
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 3 Charcoal Lane is listed at $1,849,000.
Located on a desirable Coleytown cul-de-sac, this expanded six-bedroom colonial on two acres has almost 4,700 square feet of living area, plus an additional 1,170 square feet in a finished walkout lower level.
Originally built in 1965, this home has been thoughtfully expanded and completely updated with attention to the creation of today’s floor plan and amenities.
The foyer features a herringbone wood floor and raised panel wainscoting, and French doors lead to the living room.
The living room has crown molding, a brick fireplace, and another set of French doors to the dining room
A banquet-sized dining room has hardwood flooring with double perimeter inlaid walnut trim.
The gourmet kitchen features top grade appliances, has a beautifully designed arched cooking area, and a contrasting center island complete with wine storage that seats three, as well as a spacious breakfast nook.
A sunlit family room has another fireplace and flows openly to the kitchen, creating a perfect space for entertaining.
Just off the living room is a pine sun-room with cathedral ceilings and recessed lighting. Three walls of windows let the sun shine in.
The main level also has a privately situated en suite bedroom which could easily be a perfect au pair or guest suite
.
Five additional bedrooms are on the upper level, including the master bedroom privacy suite, which has its own wing.
The master features two large walk-in closets, a luxurious marble bath with jetted tub and separate over-sized shower.
The finished lower level features an expansive play room with a half bath, and plenty of storage.
Wonderful flow, spacious rooms, and level property in a most sought after location.
Extras and items to note— heated Gunite pool with solar cover, scenic and seasonal brook .
Annual taxes are $18,170.
Listing/photo courtesy of Coldwell Banker Westport-Riverside.
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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.
