By Judy Szablak
Special to WestportNow
Newly listed single-family home inventory is currently minimal in Westport, which presents opportunities for soon to be sellers, and at the same time presents challenges for buyers who have been looking.
Featured Home: This home at 57 Sylvan Road North is listed at $1,269,000. photo courtesy of William Pitt Sotheby’s International — Westport
Seventeen percent of the available 241 properties show on our MLS as being listed for 30 days or less. But in fact, only 18 of these properties are truly new to the marketplace and have not been on the market recently.
Buying or selling a home is a process, and does take time, no matter which side of the transaction that you are on, and some are planning both.
Somehow, inclement weather leads us to focus on the immediate, rather than longer term decisions, and tends to make us think that there is always more opportunity ahead to accomplish what is needed.
February is nearly here and is a short month, which does not leave a lot of time for staging, photography, and the last minute detailing necessary to take full advantage of the upcoming buying season.
The spring market just seems to start earlier every year, which will be upon us much sooner than you think
Market Stats
There are now 241 homes actively on the market, which have been listed for an average of 150 days, with a cumulative market time of 249 days. The average list price is $2,190.332 and the median price is $1,749,000.
A home on Beachside Avenue 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.
Fourteen new listings came on the market in the last seven days, and three properties came back on the market after being under deposit, or temporarily withdrawn. Eight properties had a price change.
Four properties have gone under the initial deposit stage, which we call CTS or Show, and another four 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 four pending properties was $1,070,000. There are currently 17 homes in CTS/Show status throughout Westport, and another 33 properties scheduled to close townwide, with an average price of $1,599,000.
Closings: There were seven single family homes reported as sold in the last week, and they were listed on average at $1,610,714 with an average market time of 97 days. There were 51 status changes in the last seven days.
Condos: There are 11 condominiums that are available, and they have been listed an average of 75 days, with a cumulative market time of 151 days. Their average listing price is $760,739 and the median price is $659,000.
The highest priced condo in town is listed at $1,249,000 and is a three-bedroom home located at Terra Nova Circle, and the lowest priced unit for sale is a two-bedroom home on Bridge Street for $254,330.
There was one new listing this week, and no homes came back on the market. There were no price changes, and no property went under the initial stage of deposit. No properties entered pending status.
There are no properties townwide that are currently in CTS/Show status, and one property is currently scheduled to close.
No sales were reported during the last week. There was one status change.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 82 homes or apartments available. The median price is $5,475 per month and the average price is $5,767 per month. These year-round rental opportunities have been on the market an average of 105 days.
There are 56 short-term rental opportunities that are available, and they have been on the market an average of 119 days. Their average price is $8,193 and the median price is $6,750. 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 57 Sylvan Road North is listed at $1,269,000.
This beautifully updated 10-room colonial in the sought after Old Hill area has a creative and versatile floor plan that includes delightful entertaining spaces as well as perfectly private areas.
This wonderfully sunlit 3,474-square foot home is perfectly sited behind a picturesque stone wall, and the interior is just as charming.
The living room has a large bay window and crown molding.
The dining room also has crown molding, and sliders to the expansive deck.
A gourmet kitchen with vaulted ceilings has Cherry cabinetry with granite countertops and top of the line stainless steel appliances. The matching center island seats four comfortably.
The oversized and sunlit informal dining area has cathedral ceilings, a bay window and access to the 792-square foot wrap around deck that brings the beauty of the landscape indoors.
A main level sitting area has random width pegged hardwood flooring and a stone fireplace, and leads to the sunken family room with two bay windows, soaring 12-foot ceilings and access to the deck as well.
Upstairs, the master bedroom suite has lovely views of the 1.11-acre property, as well as two walk-in closets and a stunning skylit marble bath with cathedral ceilings, dual sinks, separate tub and glass enclosed shower.
Three additional bedrooms are on this floor, and one has a fireplace, which also lends itself well for an office or den.
Extras and items to note — Four bedrooms, two full and one-half baths, two fireplaces, 12-foot long covered front porch, public water and sewer, three car garage, finishable basement, 792-square foot mahogany deck, room for pool.
Annual taxes are $16,971.
Listing/photo courtesy of William Pitt Sotheby’s International — 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.
