By Judy Szablak
There are growing signs of the steady market that we all hope for, however these signs are not represented in all price pockets nor are they represented by all property types.
This Compo Beach area home at 9 Ferry Lane East is listed at $3,795,000. (CLICK TO ENLARGE) Photo courtesy of William Pitt Sotheby’s International- Westport Realty Group
For instance, available inventory has remained fairly steady, the median price of homes is remaining around the $1.3 million mark, and the average market time for sales for the last few weeks is very respectable at under 60 days.
But that’s not the whole town. Condominium sales are still lower than what they should be, and other price pockets in town could be performing better. All in all, we should be grateful and happy that our market is performing as well as it is. Other towns in Fairfield County are not that lucky.
Homes: There are 347 single family homes on the market, and their average list price is $2,139,234. These homes have been listed for sale an average of 120 days, and the median price remaining steady at $1,324,000.
The highest asking price for all homes currently on the market is $24,950,000, and the lowest available priced home is $294,900.
The biggest price pocket of available homes are in the $1 million to $1.5 million range, with 60 homes available and an average market time of 101 days.The second largest price pocket is between $1.5 million and $2 million with 56 homes on the market, and they have been listed an average of 80 days.
Eleven new listings came on the market in the last seven days, including two homes that came back on the market after being under deposit.
Twelve properties had a price change, and seven properties have gone under the initial deposit stage, which we call CTS. Five properties went into pending status, which means that the conditions have been satisfied, and the property is scheduled to close.
Closings: Eleven homes were reported as sold in the last seven days, and their average list price was $1,341,073 and these homes were on the market an average of 58 days. There were 58 status changes in the last seven days.
Condos: The 27 condominiums that are available have been listed an average of 104 days, and have an average price of $632,124. The median price of a condo is $492,450. The highest price condo in town is listed at $1,595,000 and the lowest offering price is $227,351.
No new listings came on the market this week, and no properties had a price change. One property went into CTS status, and three properties went into pending status.
Closings: No condominiums closed in the last week. There were four status changes in the last seven days.
Rentals: If you are looking to rent year round, either furnished or unfurnished, there are 68 homes or apartments available. The median price is $4,450 per month and the average price is $6,626 per month. These year-round rental opportunities have been on the market an average of 48 days.
There are 12 seasonal rental opportunities available and they have been on the market an average of 74 days, and at an average price of $10,591. The median price of both furnished and unfurnished seasonal rentals is $7,950.
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 of the Week: This Compo Beach area home at 9 Ferry Lane East is listed at $3,795,000
Reminiscent of the Hamptons, this fabulous shingle-style 6,777 square foot home sits on 1.3 well manicured park-like acres.
The presentation is simply spectacular from every angle. Stylish roof lines, a columned entry portico and two and on- half story turret enhance an already elegant exterior.
The turret you see from the front of the home surrounds the staircase to the second floor and affords much light into the home with its well placed windows.
Architectural detailing is generous throughout this twelve room, five bedroom home with seven full and one-half baths, and its nine-foot ceilings are framed exquisitely with layered crown molding. Other custom millwork and designs include recessed panel wainscoting and fluted molding.
There are antique beams and reclaimed oak flooring on the main level. The living room has a stone fireplace with custom mantel, exposed antique beams, and a king sized bay window.
The family room has a floor to ceiling stone fireplace, and an office/library is built with Brazilian cherry wood, has another fireplace and coffered ceilings.
Also on this floor- a computer room with radiant heated slate floors and its own bath.
The gourmet kitchen is equipped with all high end appliances, and has custom white cabinetry that blends effortlessly into the room, a breakfast bar, and a breakfast room with a bay window and exposed antique beams. A butler’s pantry is perfectly situated with generous storage.
An elegant dining room has impressively designed recessed panel wainscoting, crown molding and a large bay window.
The master bedroom is generously sized at 1,200 square feet and is on the second floor, and boasts another fireplace, a balcony from its octagonal sitting room, as well as his and hers baths. Four additional en-suite bedrooms are also on this floor.
Extras: Central vacuum, security system, three-car attached garage, laundry rooms on both floors, Shoreline heated pool with mini-manor-style pool house and bluestone patio. Easily finishable basement with high ceilings (plans available).
Clean, crisp, and just the right contemporary touches to blend seamlessly with a country home manor style estate to create a warm and especially inviting home. Annual taxes are $44,126.
Listing/photo courtesy of William Pitt Sotheby’s International- Westport Realty Group
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(Editor’s Note: Judy Szablak of RE/MAX- Fairfield County CT Realtor since 1984 is author of “The Art of Buying or Selling a Home,” and is featured on HGTV’s real estate show, “Desperate to Buy.” Email .(JavaScript must be enabled to view this email address) or visit her blog at www.TheCTrealtyBlog.com.
