By Judy Szablak
It may seem a bit early to prepare for the spring market in Westport, but don’t let this valuable time pass you by without taking full advantage of the forthcoming busy real estate season. It will happen upon us sooner than you might think.
Featured Home: This home at 15 Apple Tree Trail is listed at $2,975,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis/Westport Beach (+) Country Homes
If you are selling your home, consider hiring a building inspector to uncover any unforeseen issues that a buyer would inevitably uncover, and fix them prior to your home going on the market. This could save you a lot of lost time, not to mention money.
It is also a good idea to take this opportunity to de-clutter your home in preparation for going on the market, and among other things, paint if necessary.
There is nothing worse than becoming painfully aware that you were ill-prepared for the perfect time to place your home for sale, and then coming to the realization that your lack of action has wound up placing your home just “behind the market.”
Now is the time to make the decisions necessary so you can hit the ground running, optimize your home’s marketability, and therefore maximize the price you will ultimately settle for on your home sale.
Buyers should consider getting their financial house in order. That means that you should ensure that all deposit monies are “seasoned,” and not make any significant purchases.
Utilize this time wisely to do a bit of market research in preparation of your forthcoming purchase. Homes in certain price ranges are already selling with multiple bids.
It is strongly advised that you be fully prepared and pre-approved prior to beginning your home search.
Market Stats
There are now 226 homes that are are actively on the market, which is a net loss of seen homes in inventory since last week. These currently available properties have been listed for an average of 131 days, with a cumulative market time of 242 days.
The average list price is now $2,567,607 and the median price is at $2,195,000.
A four-bedroom home on Beachside Avenue on 7.13-acres is the highest priced home for sale at $25 million, and the lowest available priced home is a five-bedroom home on 40 Ferry Lane East for $399,900.
Thirteen new listings came on the market in the last seven days, and one property came back on the market after being under deposit, or temporarily withdrawn. Thirteen properties had a price change.
Eleven properties have gone under the initial deposit stage, which we call CTS, and another three 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 three pending properties is $1,175,667. There are currently 16 homes in CTS status throughout Westport, and another 33 properties scheduled to close town-wide, with an average price of $2,406,148.
Closings: There were six single family homes reported as sold in the last week, including 4 Bluewater Hill for $6,375,000 and 2 Manitou Court for $11,906,000, which have bumped up the average price for this week.
These six homes were listed on average at $4,281,417 and sold with an average market time of 158 days. There were 59 status changes in the last seven days.
Condos: There are three condominiums that are available, and they have been listed an average of 95 days. Their average listing price is $537,600 and the median price is $533,800.
The highest priced condo in town is $699,000 and is a two-bedroom home located at Harvest Commons, and the lowest priced unit for sale is a one-bedroom home on Whitney Glen for $380,000.
There were no new listings this week, and one home came back on the market after being under deposit. There were no price changes, and one property entered into the initial stage of deposit.
One home entered into pending status, and was listed at $950,000.
There is one property town-wide that is currently in CTS status, and there are three homes scheduled to close, with an average list price of $769,800.
No sales were reported during the last week. There were three status changes.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 53 homes or apartments available. The median price is $4,600 per month and the average price is $5,227 per month.
These year-round rental opportunities have been on the market an average of 79 days.
There are 18 short-term rental opportunities that are available, and they have been on the market an average of 74 days. Their average price is $8,169 and the median price is $6,075.
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 15 Apple Tree Trail is listed at $2,975,000.
This new transitional five-bedroom shingle style home is located on a cul-de-sac in the Compo Beach area, and was just completed by local HOBI Award Winning Bluewater Home Builders.
A bright and open floor plan features the latest in transitional design throughout three finished levels. There is 4,000-square feet of living area, and every conceivable nook and cranny has been utilized for exceptional storage space.
The sunlit living room is to your left as you enter, and to your right is a modern central glass staircase leading to the second and third floors . A separate study with beamed ceiling and built-ins is tucked under the glass staircase in a private corner of the house.
The great room has a wall of windows overlooking the backyard and a low-profile beamed ceiling. The sleek fireplace with natural stone surround is flanked by glass doors on either side which lead to the blue stone patio with outdoor fireplace.
The custom kitchen has floor-to-ceiling white cabinetry, top of the line appliances, Carrera marble counter tops, and an over-sized center island with Carrera marble waterfall counter top and seating for three.
High gloss white shiplap ceilings add to the sleek feel of the kitchen and dining area, which also features built-in cabinetry, a wine fridge, and a glass door to a second blue stone patio for outdoor dining.
The second floor continues the exceptional modern design of the main level. The landing has a perfectly placed recessed work area with a built-in desk. Additionally, four of the five bedrooms are located on this floor.
The master suite has soaring 10-foot ceilings, fireplace with stone surround in a “corduroy” ribbed finish, a luxurious marble bath with a freestanding tub, glass enclosed shower, a floating twin vanity and tile by Karen Berkemeyer Home of Westport.
Two additional bedrooms are en suite, and two others share a “Jack and Jill” bath. The third floor bedroom suite also has a private balcony with water view.
A perfect home, perfect location, perfectly chic, and just steps from the beach, marina and Longshore Club Park.
Schools—Greens Farms, Bedford, Staples
Extras and items to note—four full and one half baths, main level study/office, outdoor fireplace, security system, professionally landscaped .21-acre property with irrigation system, pre-wired sound system, generator.
Annual taxes have yet to be determined.
Listing/photo courtesy of William Raveis/Westport Beach (+) Country Homes.
(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.
