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Real Estate Report: Westport Listings Lag in Online Marketing

By Judy Szablak

Special to WestportNow

There are 380 single-family homes available in Westport, and it appears that we are somewhat behind the curve with online marketing for almost half of them.

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Featured Home: This home at 1 Windrush Lane is listed at $1,349,000. (CLICK TO ENLARGE) Photo courtesy of The Riverside Realty Group/Westport

That’s according to the 2017 Homebuyers and Sellers Generational Trends report recently published by The National Association of Realtors.

Some very interesting data in the report included the top five website features that buyers and sellers look for when shopping for a home.

Photos were number one on the list, followed by detailed property information, floor plans, virtual home tours, and recently sold home data.

A quick check of our inventory shows that only 54 percent of the properties for sale have the maximum allowable photos as per our Multiple Listing Service, and less than one third have virtual tours.

Floor plans are more difficult to tally. However, the majority of the virtual tour companies can include floor plans created on site in a photo package.

The biggest take-away from the report? Buyers want as much information as possible, no matter if they are Millennials, Gen Xers or Baby Boomers.

Market Stats

There are 380 homes actively on the market, which have been listed for an average of 110 days, with a cumulative market time of 204 days. The average list price is $2,203,664 and the median price remains at $1,699,000.

A home at 114 Beachside Ave. is the highest priced property for sale at $28 million, and the lowest available priced single-family is a four-bedroom home on Saugatuck Avenue for $339,000.

Nineteen new homes came on the market in the last seven days, and two properties came back on the market after being under deposit, or temporarily withdrawn. Thirty-one properties had a price change.

Thirteen properties have gone under the initial deposit stage, which we call CTS, and another 16 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 16 pending properties was $1,532,500. There are currently 33 homes in CTS status throughout Westport, and another 68 properties scheduled to close townwide, with an average price of $1,611,680.

Closings: There were 14 single family homes reported as sold in the last seven days, and they were listed on average at $1,559,564 with an average market time of 114 days. There were 102 status changes in the last seven days.

Condos: There are 10 condominiums that are available, and they have been listed an average of 78 days, with a cumulative market time of 164 days. Their average listing price is $850,600 and the median price is $812,000.

The highest priced condo in town is listed at $1,395,000 and is a three-bedroom home at Terra Nova Circle, and the lowest priced unit for sale is a two-bedroom home on Whitney Glen for $450,000.

There were two new listings this week, and no homes came back on the market. There were no price changes, and no properties went under the initial stage of deposit. No properties entered pending status.

There is one property townwide that is currently in CTS status, and there is one property scheduled to close, which is listed at $499,000.

Four sales were reported during the last week and were listed on average at $679,500. There were six status changes.

Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 81 homes or apartments available. The median price is $4,900 per month and the average price is $5,681 per month.
These year-round rental opportunities have been on the market an average of 53 days.

There are 56 short-term rental opportunities that are available, and they have been on the market an average of 108 days. Their average price is $16,169 and the median price is $13,350.
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 1 Windrush Lane is listed at $1,349,000.

This 3,938-square foot colonial is like a breath of fresh air with an open and inviting floor plan.

Set back from the road on 1.76 acres on a quiet cul-de-sac, one might be immediately drawn to relax on the 37 foot long covered front porch, however there are plenty of places inside this 10-room home to be comfortable as well.

The living room has crown molding, and a fireplace with marble surround and hearth, as well as arch-topped recessed shelving and cabinetry.

The formal dining room features walnut perimeter inlaid hardwood flooring with a special wood grain to the diagonal in the center portion.

A gourmet kitchen with light oak cabinetry has a built in hutch and buffet area. Stainless steel appliances include double ovens, and the breakfast bar, which is open to the breakfast area with large bay, which flows effortlessly to the family room.

The family room has a floor-to-ceiling fireplace with raised hearth, and sliders between the breakfast area and this room lead out to the 349-square foot deck that overlooks a beautifully landscaped, level and private lawn.

The main level office has crown molding, and tastefully designed built-in shelving.

Upstairs, the oversized master bedroom suite has crown molding and a tray ceiling, and an exceptionally large walk-in closet. The two-one marble bath has cathedral ceilings over the whirlpool, and a bay area that brings in the sunshine.

Three other bedrooms are on this level and two share a “Jack and Jill-style” bath.

Additionally, the architecturally designed bonus room over the garage is perfect for a media room, au pair or nanny suite.

Schools — Kings Highway Elementary, Coleytown Middle, Staples High

Extras and items to note — four bedrooms, three full and one half baths, two fireplaces, 9-foot ceilings on the main level, security system, audio system, central vacuum, walkout lower level can easily be finished for additional living area.

Annual taxes are $18,089.

Listing/photo courtesy of The Riverside Realty Group/Westport.


Judy Szablak
(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.

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