By Judy Szablak
Whether you are trading up, downsizing, or moving into Westport for the first time, the same question arises over and and over from all types of buyers: “How many homes should we, or do we need to look at?”
Featured Home This home at 16 Ellery Lane is listed at $2,999,999. (CLICK TO ENLARGE) Photo courtesy of William Raveis-Southport
The answer is not the same for everyone. Given optimum circumstances, you may only need to look at one house, or maybe five or six.
Some people may need to see 10 or more. One thing for sure, you will know it is the right house the moment you enter, or shortly thereafter.
A home is not anything even the slickest salesperson can sell you if you do not want it, and the most professional agents know this already.
A commonly overlooked detail of embarking on a home search is having an initial meeting with an agent to review one’s wants and needs for the next home, rather than meeting at properties with no direction.
Professional guidance is indeed quite helpful, and streamlines the process significantly. Once you sit with an experienced agent who knows the right questions to ask, the seemingly daunting task of viewing many properties can be minimized, therefore saving time and energy.
Looking online is a great place to start and get a “feel” for the market, but the pictures and the data presented don’t necessarily tell the entire story—the remarks may not be complete, and the marketing photos could be very well done, or very poorly implemented.
An initial few questions to ponder, and thoughts to consider besides price are neighborhoods, schools, and the size and the style of the home.
It is also important to voice to your agent what you absolutely do not want.
Many of us go out on broker’s open houses during the week and have seen quite a few of the homes that are on the market. A trained professional that has actually seen the property will be a much better source of information as it pertains to you.
An agent can also narrow down your search, or suggest properties that you may not have initially considered. With almost 300 homes and condominiums on the market, guidance from professional will save you both time and money.
Market Stats
There are now 278 homes that are are actively on the market. These currently available properties have been listed for an average of 131 days, with a cumulative market time of 220 days. The average list price is now $2,384,146 and the median price is now $1,949,500.
A six-bedroom colonial on Judy Point Lane is the highest priced home for sale at $10.25 million, and the lowest available priced home is a five-bedroom home on 40 Ferry Lane East for $435,000.
Ten 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. Fourteen properties had a price change.
Eight properties have gone under the initial deposit stage, which we call CTS, and another six 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 six pending properties is $1,457,917. There are currently 19 homes in CTS status throughout Westport, and another 44 properties scheduled to close town-wide, with an average price of $2,368,189.
Closings: There were 11 single family homes reported as sold in the last week. These homes were listed on average at $1,381,273 and sold with an average market time of 158 days. There were 64 status changes in the last seven days.
Condos: There are seven condominiums that are available, and they have been listed an average of 147 days. Their average listing price is $770,814 and the median price is $699,000.
The highest priced condo in town is $1,075,000 and is a two-bedroom home located at Terra Nova Circle, and the lowest priced unit for sale is a two-bedroom home at Edgewater Commons for $533,800.
There were no new listings this week, and one home came back on the market after being under deposit. There were no price changes, and one property entered into the initial stage of deposit. No homes entered into pending status.
There is one property town-wide that is currently in CTS status, and there are no homes scheduled to close.
One sale was reported during the last week, and was listed at $414,900. There were four status changes.
Rentals: If you are interested in renting year round, either furnished or unfurnished, there are 67 homes or apartments available. The median price is $3,900 per month and the average price is $4,810 per month.
These year-round rental opportunities have been on the market an average of 72 days.
There are 23 short-term rental opportunities that are available, and they have been on the market an average of 57 days. Their average price is $5,737 and the median price is $4,750.
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 16 Ellery Lane is listed at $2,999,999.
This 12-room custom built colonial is nicely situated on a one acre lot on a sought after Greens Farms cul-de-sac. Designed by noted architect Robert Storm, and built in 2006 by Coastal Construction, this home has exceptional mill-work and custom moldings throughout.
Every conceivable detail in this 6,850-square foot home has been well thought out and supremely implemented.
A grand two-story entrance has recessed panel wainscoting, and custom crown molding.
The tasteful and refined living room is to the left of the foyer, has a gas fireplace with custom mantel, and double perimeter walnut inlaid hardwood floors.
To the right is a formal dining room with a masterfully designed octagonal tray ceiling and exceptional mill-work. A butlers pantry has a Sub Zero wine fridge and glass cabinetry.
The designer chef’s kitchen has granite counters and a solid slab Calcutta marble back-splash. Top of the line appliances include a Viking range, two convection ovens, and two dishwashers.
The breakfast island seats four comfortably, and has French doors that lead outside to the professionally landscaped rear yard .
The family room is open to the breakfast area, and features a floor-to-ceiling stone fireplace, built-in cabinetry and surround sound.
There are five en suite bedrooms on the second floor, including a romantic master bedroom suite with tray ceiling and fireplace, sitting room/dressing area, and a sumptuous marble bath with dual vanities, as well as two walk-in closets.
The walk-out lower level is finished to main level standards, with custom cabinetry, built-ins, and stunning mill-work, and includes a billiard room with crown molding, an exercise room, and a 2,900 custom mahogany wine cellar and storage room with cove lighting and stone floor.
Extras and items to note: 10-foot ceilings on main level, library/study, 9-foot ceilings on second floor, five full and two one-half baths, five fireplaces, Niles sound system, security system, outdoor kitchen, outdoor shower, heated Gunite in-ground pool with hydraulic safety cover, extensive outdoor lighting, sprinkler system, 973-square foot blue-stone patio, fenced in rear yard, additional unfinished 2,100-square feet on third floor, three-car garage.
Annual taxes $24,007.
Listing/photo courtesy of William Raveis-Southport.
(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.
