By Judy Szablak
With each week, there is more evidence of strong gains for the real estate market.
This home at 4 Glenwood Lane is listed at $2,295,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis/ Westport.
The latest is the most recent S&P Case-Shiller Home Price Indices report. The national composite showed an increase of 7.3 percent for 2012.
The 10- and 20-City Composites reported annual gains of 5.9 percent and 6.8 percent respectively in 2012.
“Home prices ended 2012 with solid gains,” said David M. Blitzer, chairman of the S&P Case-Shiller Index Committee.
Home prices are edging up, and December’s gain was up a very strong 0.9 percent for 20-city adjusted index. The only MSA to fall was the New York metro area.
Market Stats
There are now 209 homes that are actively on the market. The average list price of these available homes is $2,407,72, and these properties have been listed for average of 144 days, with a cumulative market time of 250 days. The median price is $1,799,900.
The highest asking price for all homes currently on the market is $27.5 million, and the lowest available priced home is $309,000.
Thirteen new listings came on the market in the last seven days, and three homes came back on the market after being under deposit. Nine properties had a price change.
Thirteen properties have gone under the initial deposit stage, which we call CTS, and 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 $1,455,513. There are currently 48 homes in CTS status throughout Westport, and another 34 properties scheduled to close town-wide, with an average price of $1,672,336.
Closings: There were seven properties reported as sold in the last week, and were listed on average at $1,756,700, and sold with a market time of 111 days. There were 65 status changes in the last seven days.
Condos: There are nine condominiums that are available, and they have been listed an average of 209 days. Their average listing price is $733,089, and the median price is $799,000. The highest priced condo in town is listed at $949,000 and the lowest offering price is $325,000.
There was one new listing reported. No homes came back on the market after being under deposit. No properties entered the CTS stage of deposit, and no homes went into pending status.
There are no properties townwide that are currently in CTS status, and one home is scheduled to close that is listed at $329,000.
Closings: There were no condos reported as sold this past week, and one status change.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 41 homes or apartments available. The median price is $5,900 per month and the average price is $6,220 per month. These year round rental opportunities have been on the market an average of 74 days.
There are 19 short-term rental opportunities that are available, and they have been on the market an average of 38 days. Their average price is $16,992, and the median price is $18,000.
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 4 Glenwood Lane is listed at $2,295,000.
Perfectly sited on one level acre on a cul-de-sac in Greens Farms, this stylish shingle and stone colonial has a gracious 6,300-square foot floor plan. Built in 2007, the finest craftsmanship is evident throughout, with much attention to ensuring the maximum amount of natural light entered all of its 11 rooms—all of which have at least 9-foot ceilings.
A handsome two-story foyer has marble flooring, recessed panel wainscoting, and a balcony to greet guests from the second level.
The living room is to your left of the foyer as you enter, and its focal point is a stunning fireplace flanked on either side by tall windows, which send much sunlight in the room.
To your right is a banquet sized dining room which is beaming with sunlight, and accented by crown molding. A butler’s pantry has plenty of cabinet storage and a second dishwasher.
The custom chef’s kitchen is fully equipped with top grade appliances and granite counters, and the breakfast bar easily seats four or five. A sunny breakfast nook overlooks the backyard through a set of French doors, which leads out to the patio.
The family room is open to the kitchen, and has skylit cathedral ceiling, and a floor to ceiling stone fireplace with raised hearth.
A first floor library/den has coffered ceilings and built ins, plus a wet-bar with beverage fridge and separate powder room.
Upstairs, each of the five en suite bedrooms have generous closets. A lavish master bedroom suite has another fireplace, a sitting room, and a stunning bath with whirlpool and separate glass enclosed shower.
Extras and items to note: security system, sound system, third floor walk up can easily be finished for additional space, and a floor plan is available for the lower level to include a home gym, wine cellar/home theater, playroom.
Annual taxes are $27,418.
Listing/photo courtesy of William Raveis/ 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.
