By Judy Szablak
Despite a gloomy report out today nationally on March home sales, Westport’s March sales were off the charts with 29 closed single-family home transactions last month.
This home at 4 Imperial Landing is listed at $1,497,000. (CLICK TO ENLARGE) Photo courtesy of Remax Right Choice
Westport’s sales were up a whopping almost 80 percent from a month earlier.
This was in sharp contrast to the U.S. Commerce Department report today that sales of new U.S. single-family homes tumbled to their lowest level in eight months in March, dropping 14.5 percent.
The Westport divergence from national trends is not new. And Westport needs to do a bit of catch up work to equal last year’s sales at this time.
Economists said the weather impacted national sales as did rising prices. “Price growth is rising faster than historical norms because of inventory shortages,” said Lawrence Yun, chief economist of the National Association of Realtors. But he said he expects home sales to pick up as inventory improves.
Market Stats
There are now 305 homes that are actively on the market, and that total represents a 2 percent decline from last week. These currently available properties have been listed for average of 104 days, with a cumulative market time of 170 days.
The average list price is now $2,459,032 and the median price remains fairly steady at $1,900,000.
A new five-bedroom colonial at 8 Bluewater Lane is the highest priced home for sale at $14.5 million, and the lowest available priced home is a two-bedroom home on Crescent Park for $289,000.
Just nine new listings came on the market in the last seven days, and two properties came back on the market after being under deposit, or temporarily withdrawn. Seventeen properties had a price change.
Ten properties have gone under the initial deposit stage, which we call CTS, and another 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 $1,270,000. There are currently 33 homes in CTS status throughout Westport, and another 66 properties scheduled to close town-wide, with an average price of $1,779,159.
Closings: There were eight single family homes reported as sold in the last week, and were listed on average at $1,438,688, and sold with an average market time of 97 days. There were 65 status changes in the last seven days.
Condos: There are 11 condominiums that are available, and they have been listed an average of 85 days. Their average listing price is $666,636 and the median price is $729,000.
The highest priced condo in town is $935,000 and is a two-bedroom home located at Lansdowne, and the lowest priced unit for sale is a one-bedroom home on Sylvan Lane for $304,000.
There were no new listings this week, and one home came back on the market after being under deposit. There was one price change, and one property entered into the initial stage of deposit.
One home entered the pending stage of deposit, and was listed at $497,000.
There is one property town-wide that is currently in CTS status, and six homes that are scheduled to close, which are listed on average at $806,667.
One sale was reported during the last week and was listed at $749,000. There were five status changes reported.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 23 homes or apartments available. The median price is $4,650 per month and the average price is $5,561 per month.
These year-round rental opportunities have been on the market an average of 46 days.
There are 36 short-term rental opportunities that are available, and they have been on the market an average of 45 days. Their average price is $17,917, and the median price is $15,500.
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 4 Imperial Landing is listed at $1,497,000.
This striking 10-room contemporary in Saugatuck was designed by Roger Bartels, and boasts a surprisingly warm and traditional interior.
Located on a private and prestigious cul-de-sac with professionally manicured grounds, this 3,523-square foot home has been thoughtfully enhanced and remodeled since it was originally built in 1985.
The living room has soaring ceilings, a marble fireplace with custom mantel, and an abundance of natural light through floor-to-ceiling windows
A king sized dining room is perfect for entertaining guests and features crown molding.
The skylit family room has another fireplace and sliding glass doors to a 600 square foot patio.
A gourmet kitchen features custom cabinetry, granite counters, and top of the line appliances including double ovens and a Sub Zero refrigerator. The breakfast nook is simply delightful as a wonderfully bright informal eating area, and a large pantry offers additional storage.
A hard to find first floor master suite has a sitting area with two sets of sliders to a private courtyard, and a sumptuous marble bath with whirlpool and glass enclosed shower.
Three additional bedrooms are on the second floor, and the finished lower level has a bonus room and adds 530 square feet of living area.
This home is a commuters dream—close to the train, restaurants, and beach, yet private, peaceful and quiet.
Extras and items to note— four full and one half baths, main level office with built-ins, central vacuum, security system, skylights, audio system, courtyard, irrigation system
Annual taxes are $14,514.
Listing/photo courtesy of Remax Right Choice.
(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.
