By Judy Szablak
It’s certainly the season for waterfront homes in Westport. After what seemed like such a prolonged winter, this segment of the market is already performing well.
Featured Home: This home at 17 Soundview Drive is listed at $2,995,000. (CLICK TO ENLARGE) Photo courtesy of the Higgins Group/Westport
In fact, seven waterfront homes have entered into various stages of deposit in the last two weeks alone. This boom is expected to continue in the forthcoming months.
In the last week, five newly listed waterfront estates have entered the market. These homes range in price from $7.5 million up to $11.5 million, which has brought up the average townwide list price of waterfront properties to just under $4.1 million.
As of today, there are 50 homes listed through our Multiple Listing Service as having some kind of waterfront, and they represent 16 percent of all of the homes available in town. Thirty-seven have sold in the last year, with the highest selling price being $11,906,000 on Manitou Court.
Market Stats
There are now 310 homes that are are actively on the market. These currently available properties have been listed for an average of 109 days, with a cumulative market time of 198 days. The average list price is now $2,489,768 and the median price is at $1,945,000.
A four-bedroom home on Beachside Avenue on 7.13 acres is the highest priced home for sale at $22 million, and the lowest available priced home is a three-bedroom home on Crescent Park Road for $368,000.
Twenty-nine 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market in the last seven days, and three properties came back on the market after being under deposit, or temporarily withdrawn. Twenty-seven properties had a price change.
Twenty-one 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 those 10 properties was $1,668,890. There are currently 37 homes in CTS status throughout Westport, and another 44 properties scheduled to close town-wide, with an average price of $1,759,973.
Closings: There were six single-family homes reported sold in the last week, and they were listed on average at $1,464,917, with a market time of 98 days. There were 102 status changes in the last seven days.
Condos: There are 11 condominiums that are available, and they have been listed an average of 58 days, with a cumulative market time of 71 days. Their average listing price is $786,345 and the median price is $749,000.
The highest priced condo in town is $1,310,000 and is a three-bedroom home located at Terra Nova Circle, and the lowest priced unit for sale is a one-bedroom home at Whitney Glen for $399,000.
There was one new listing, and one home came back on the market after being under deposit. There were no prices changes, and one property entered into the initial stage of deposit. One home entered into pending status, and was listed at $710,000.
There are two properties town-wide that are currently in CTS status, and there are two homes scheduled to close.
No sales were reported during the last week. There were four status changes.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 34 homes or apartments available. The median price is $3,200 per month and the average price is $4,657 per month. These year-round rental opportunities have been on the market an average of 72 days.
There are 26 short-term rental opportunities that are available, and they have been on the market an average of 40 days. Their average price is $14,638 and the median price is $10,000.
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.
SourceE: 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 17 Soundview Drive is listed at $2,995,000.
This Compo Beach colonial has unobstructed views of Long Island Sound from most of its 11 rooms.
Originally built in 1918, the vintage charm is evident inside this 4,069-square foot home that has had no storm damage.
There is a vintage Nantucket flavor to the outside, and the stone wall in front is topped by a white picket fence that looks like a picture postcard. The .11-acre lot offers a surprisingly private yard as well, with a seaside terrace and bar, and perennial gardens.
Inside, the living room has a beamed ceiling and extra wide brick fireplace with a custom mantel shelf, and a gently arched entrance to the dining room which helps to create a nice open flow.
The remodeled kitchen has granite counters and stainless steel appliances, and the charming sunlit breakfast nook with large bay window has outstanding water views.
The main level library has plenty of built-ins, along with outstanding views, and the soundproof family room/game room has a gas fireplace, a small kitchenette and a full bath.
Upstairs, there are three bedrooms including the master suite with sitting room. The second floor landing is large enough to accommodate an open office area or reading nook, and also has a spiral staircase to the third floor, where there is another bedroom/loft area with skylight that leads out to an exceptionally private roof top deck.
Personality, charm and amazing views.
Schools—Greens Farms, Bedford, Staples.
Extras and items to note—elevated home has FEMA insurance, storm shutters, three full and one-half baths, fifth bedroom on lower level, security system, new mechanical systems, professionally designed soundproof recording studio.
Annual taxes are $35,778.
Listing/photo courtesy of the Higgins Group/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.
