By Judy Szablak
Waterfront properties and homes close to the water continue to be some of the hottest properties in town.
This home at 5 Minard Drive is listed for $1,845,000. (CLICK TO ENLARGE) Photo courtesy of Higgins Group/Westport
Almost 10 percent of the homes available in Westport have direct water frontage of some type, according to the local MLS. There are 37 homes listed for sale that feature direct waterfront, and 73 properties listed as having a view of the water. Just 16 homes presently available have dock or mooring rights.
The average list price for a home directly on the water, which could be either the sound, harbor, lake or lagoon is $3,557,970 and the entry level price for this category is $639,000.
Thirty two homes were sold in this group within the last year, and their average sale price was $2,284,453.
Finding a home with a water view can be more affordable, but not by as much as one would think. While the entry level price is just $405,000, the average list price is $2,298,955. Average sales price for homes with a view over the last year is $2,109,036.
Although somewhat subjective, there are 74 homes in our MLS that list “walk to” water as a feature. Average sold price in the last year for these homes was $1,679,880.
Market Stats
There are now 369 homes that are actively on the market, and their average list price is $2,097,398. These properties that are currently available have been listed for average of 110 days, and the median price is now $1,324,000.
The highest asking price for all homes currently on the market is $27.5 million, and the lowest available priced home is $359,000.
Ten new listings came on the market in the last seven days, and two homes came back on the market after being under deposit. Sixteen properties had a price change.
Nine properties have gone under the initial deposit stage, which we call CTS, and seven 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 seven pending properties was $1,224,286. There are 58 properties scheduled to close town-wide, and their average price is $1,537,940.
Closings: Eleven homes were reported as sold in the last week, and their average list price was $1,214,536. Average market time for these sold properties was 78 days. There were 70 status changes in the last seven days.
Condos: There are 17 condominiums that are available, and they have been listed an average of 173 days. Their average listing price is $630,700, and the median price is $519,450. The highest priced condo in town is listed at $1,295,000 and the lowest offering price is $307,000.
There was one new listing reported, and no homes had a price change. One property went into CTS status, and no homes were reported as entering Pending status. There were no closings, and just two status changes.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 94 homes or apartments available. The median price is $4,125 per month and the average price is $6,253 per month. These year round rental opportunities have been on the market an average of 54 days.
There are 46 short-term rental opportunities that are available, and they have been on the market an average of 83 days. Their average price is $12,375, and the median price is $9,750. 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 GFC-CMLS and represents activity through our local MLS system. Private sales are not included in these statistics.
Featured Home
This home at 5 Minard Drive is listed for $1,845,000
This French country-style beach house along Saugatuck Shores is just five years young, and has deeded rights to the coveted Covlee Association.
This energy efficient home is 2,732 square feet, has a charming European look, and is situated perfectly on a very well manicured .26 acre lot. Inside, the open, sunny floor plan caters to the entertainer at heart.
The centerpiece of the living room is a floor-to-ceiling stone fireplace with raised hearth. Crown molding and a custom built in shelf add charm, while extra tall windows bring in much light.
The dining room flows freely to the living room and kitchen, and has French doors out to the blue stone patio.
The custom gourmet kitchen has top of the line appliances, granite counter tops and a tumbled marble back splash. A center service island has a beautifully crafted wood top, and seats five comfortably.
The versatile floor plan also includes a den or office on the main level with coffered ceilings, and can also easily be considered a fifth bedroom if needed.
The master bedroom suite is on the second floor and has its own fireplace and luxurious bath with steam shower. All of the remaining three bedrooms on this floor have crown molding, and one bedroom other than the master is en suite.
Extras and items to note: deeded rights to Covlee Association with private beach, mooring, and playground area(minimal annual dues apply), central vacuum, security system.
Annual taxes are $19,298
Listing/Photo courtesy of Higgins Group/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.)
