By Judy Szablak
The S&P/Case-Shiller home price indexes out today were up in April on both the 10- and 20-city measures.
This home at 6 Bobwhite Drive is listed at $1,895,000. (CLICK TO ENLARGE) Photo courtesy of Nicholas Fingelly Real Estate/Westport
Both figures were up 1.3 percent over the prior month, with the best city gains seen in San Francisco, Washington D.C. and Phoenix.
Overall, 13 cities saw consecutive monthly gains. After 20 consecutive months of decline up until February, the news is a positive indicator although prices have continued to fall on an annual basis.
The chairman of the S&P’s Index Committee, David Blitzer said, “While one month does not make a trend, particularly during seasonally strong buying months, the combination of rising positive monthly index levels and improving annual returns is a good sign.”
Detroit was the only city that posted a monthly decline in April. The New York MSA index showed a 0.1 percent gain from last month, and at 157.7, remains the third highest index in the country, behind Washington and Los Angeles, respectively. The New York MSA is just 1.9 percent lower than this time last year.
Market Stats
There are now 377 homes that are actively on the market, and their average list price is $2,053,863. These properties that are currently available have been listed for average of 103 days, and the median price has remained at $1,272,500.
The highest asking price for all homes currently on the market is $27.5 million, and the lowest available priced home is $359,000.
Seventeen new listings came on the market in the last seven days, and three homes came back on the market after being under deposit. Thirteen properties had a price change.
Ten properties have gone under the initial deposit stage, which we call CTS, and eight 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 eight pending properties was $2,211,250. There are 75 properties scheduled to close town-wide, and their average price is $1,631,354.
Closings: Ten homes were reported as sold in the last week, and their average list price was $1,422,100. Average market time for these sold properties was 96 days. There were 72 status changes in the last seven days.
Condos There are 16 condominiums that are available, and they have been listed an average of 164 days. Their average listing price is $637,368, and the median price is $539,000. The highest priced condo in town is listed at $1,295,000 and the lowest offering price is $307,000.
There were no new listings reported, and one home had a price change. One property went into CTS status, and two homes were reported as entering Pending status. There were no closings, and five status changes.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 88 homes or apartments available. The median price is $4,200 per month and the average price is $6,080 per month. These year round rental opportunities have been on the market an average of 52 days.
There are 51 short-term rental opportunities that are available, and they have been on the market an average of 63 days. Their average price is $13,532, and the median price is $10,500.
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.
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 6 Bobwhite Drive is listed at $1,895,000
This positively exquisite 10-room colonial has quite a romantic flair with its sophisticated European styling.
Built in 1998, and perfectly sited on a quiet cul-de-sac on one beautifully landscaped acre with formal gardens, trellises and stone walls, the beauty of this 5,655-square foot home starts with its symmetrical and stunning exterior.
A glamorous and elegant interior begins with the grand two story sunlit foyer, and a front gallery hall with double perimeter walnut inlaid flooring with six sets of French doors to the 44-foot covered front porch.
The formal living room has crown molding and a fireplace, and is spacious and grand.
The dining room has double crown molding, an octagonal tray ceiling, and custom recessed panel wainscoting.
The library has double height crown molding and French doors out to the patio and gardens.
The fully applianced gourmet kitchen has European inspired custom cabinetry, coffered ceilings, a service island that seats three comfortably, and floor to ceiling windows affording much light to the breakfast nook area. French doors lead out to another terrace for alfresco dining.
The family room has a fireplace, specialty crown molding, and is drenched with sunlight through three sets of French doors to another one of this home’s many bluestone patios.
The master is simply glamorous, with a seemingly rounded rear wall overlooking the lovely grounds, and there is a hint of French provincial flavor in its beautifully styled marble bath.
There are four additional bedrooms, including one on the third floor.
The third floor is finished and offers an additional 1,140 square feet of versatile space which also includes a recreation room/gym and play area.
Annual taxes are $18,729
Listing/photo courtesy of Nicholas Fingelly Real Estate/Westport.
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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 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.)
