By Judy Szablak
Special to WestportNow
There have been a number of recent articles about the Connecticut real estate market, saying in general the state lags behind the rest of the country.
Featured Home: This home at 21 Beachside Common is listed at $2,999,000. (CLICK TO ENLARGE) Photo courtesy of Coldwell Banker Westport-Riverside
However, one should not necessarily interpret that to mean that Westport’s recovery has mirrored the overall state situation.
According to one recent article, single family homes in Connecticut gained just 0.5 percent in value, while 6 percent gains were posted on a national basis.
Westport’s market tells a different story. In fact, our unit sales are up this year by 14 percent, and our average closed prices are up by 3.5 percent over last year at this time.
Generalizations, such as lumping the entire state together as one unit, may be somewhat helpful on a large scale, but are not necessarily indicative of the 23 towns in Fairfield County as a whole, or any one of the other seven counties in the state.
Each of the 169 towns and cities has a different “flavor” to them, as well as a different sale and value pace, just as specific areas outperform others in Westport.
Market Stats
There are now 378 homes that are actively on the market, which have been listed for an average of 107 days, with a cumulative market time of 200 days. The average list price is $2,193,366 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.
Eighteen new homes came on the market in the last seven days, and no properties came back on the market after being under deposit, or temporarily withdrawn. Twenty-six properties had a price change.
Eight properties have gone under the initial deposit stage, which we call CTS, and another 11 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 11 pending properties was $1,258,591. There are currently 36 homes in CTS status throughout Westport, and another 62 properties scheduled to close townwide, with an average price of $1,573,647.
Closings: In a banner week, there were 19 single family homes reported as sold in the last seven days, and they were listed on average at $1,567,736 with an average market time of 145 days. There were 96 status changes in the last seven days.
Condos: There are eight condominiums that are available, and they have been listed an average of 89 days, with a cumulative market time of 197 days. Their average listing price is $824,000 and the median price is $812,000.
The highest priced condo in town is listed at $1,195,000 and is a three-bedroom home located at Terra Nova Circle, and the lowest priced unit for sale is a two-bedroom home on Whitney Glen for $450,000.
There were no 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. Two properties entered pending status, and were listed n acerage at $679,000.
There is one property town-wide that is currently in CTS status, and there are five properties scheduled to close, with an average list price of $643,400.
Two sales were reported during the last week and were listed n average at $547,250. There were four status changes.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 87 homes or apartments available. The median price is $4,800 per month and the average price is $5,457 per month.
These year-round rental opportunities have been on the market an average of 46 days.
There are 56 short-term rental opportunities that are available, and they have been on the market an average of 105 days. Their average price is $15,792 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 21 Beachside Common is listed at $2,999,000.
This Greens Farms contemporary waterfront home has panoramic views of Long Island sound and the tidal estuary in a sanctuary-like setting.
Privately sited on 2.1 acres on an exclusive cul-de-sac, this extraordinarily cheery 11-room home is elegant, yet comfortable- and crisp clean lines throughout its 5,081-square feet of living area are nicely complemented by lush exterior landscaping and stunning views.
The spacious sunlit front-to-back foyer looks out upon the scenic yard, and steps down to the living room which has cathedral ceilings, a fireplace, wet bar, and French doors to the extensive patio, terrace area and surrounding vistas.
The double skylit dining room showcases beautiful views through oversized French Doors and plenty of oversized windows
A designer white gourmet kitchen with Carrera marble counters and professional grade stainless steel appliances was remodeled just two years ago, and has a matching service island. The informal dining area offers more views of the lush surroundings.
The generously sized family room with walls of glass opens to the kitchen, and has a floor-to-ceiling brick fireplace with recessed storage and built-in shelving.
A main level en suite bedroom is perfect for guest accommodations or au pair quarters, and is suited perfectly for an office as well.
Upstairs, the impressive master bedroom suite has another fireplace, private balcony, and luxurious new marble bath with free-standing tub and glass enclosed shower.
Four additional bedrooms are on this floor, and two are en suite.
A recreation room with cathedral ceilings is also on this level, and has its own full bath.
Extras and items to note — six bedrooms, five full and one-half baths, three fireplaces, security system, three-car garage, 495-square foot patio, 698-square foot terrace, 792-square foot deck, full house backup generator, no flood insurance required.
Annual taxes are $33,767.
Listing/photo courtesy of Coldwell Banker Westport-Riverside.
(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.
