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Pat Abagnale

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WestportNow

Real Estate Report Direct Waterfront Homes Are Scarce

Available direct waterfront homes are really not aplenty in Westport. Currently, there are only 28 homes that fit that bill.

WestportNow.com Image
Featured Home This home at 7 Sandpiper Road is listed at $6,989,000. (CLICK TO ENLARGE) Photo courtesy of Halstead Property/Westport.

Don’t let an initial look fool you into thinking there are more. If

one performed a search using direct waterfront as their only parameter,

45 homes would be included, however this grouping also includes lakes,

ponds, brooks, rivers and/or streams.

What it truly boils down to is that in fact, there aren’t that many to choose from at this time.

These 28 homes equate to less than 8 percent of all single-family

homes for sale in Westport, which are marketed through our Multiple

Listing Service, and have descriptions that include Long Island Sound,

harbor, ocean or frontage. The average price of these waterfront homes

is just under $5.6 million.

Considering 19 of the 33 homes that were listed as

having direct waterfront sold in the past year included the above

additional parameters, this segment of the market is performing

surprisingly well.

Market Stats

There are now 361 homes on the market and have been listed for an

average of 125 days, with a cumulative market time of 210 days. The

average list price is $2,269,993 and the median price is $1,795,000.

A home on Beachside Avenue is the highest priced property for sale at

$32 million, and the lowest available priced single family is a

five-bedroom home on Ferry Lane East for $439,900.

Eight new listings came on the market in the last seven days, and no

properties came back on the market after being under deposit, or

temporarily withdrawn. Sixteen properties had a price change.

Ten properties have gone under the initial deposit stage, which we

call CTS, and 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 those six properties was $1,611,000. There are

currently 23 homes in CTS status throughout Westport, and another 46

properties scheduled to close town-wide, with an average price of

$1,446,454.

Closings: There were 13 single family homes reported as sold

in the last week, and they were listed on average at $1,567,838 with an

average market time of just 70 days. There were 63 status changes in the

last seven days.

Condos: There are 14 condominiums that are available, and they

have been listed an average of 56 days. Their average listing price is

$614,543 and the median price is $537,000.

The highest priced condo in town is listed at $1,195,000 and is a

two-bedroom home located at Terra Nova, and the lowest priced unit for

sale is a one-bedroom home on Bridge Street for $209,000.

There was one new listing this week, and no homes came back on the

market, There were no price changes, one property went under the initial

stage of deposit, and one home entered pending status.

There is one property town-wide that is currently in CTS status, and

there is one property scheduled to close that is listed at $748,000.

One sale was reported during the last week, and was listed at $445,000. There were five status changes.

Rentals: If you are interested in renting year round, either

furnished or unfurnished, there are 100 homes or apartments available.

The median price is $5,925 per month and the average price is $6,587 per

month. These year round rental opportunities have been on the market an

average of 54 days.

There are 43 short-term rental opportunities that are available, and

they have been on the market an average of 90 days. Their average price

is $13,419 and the median price is $9,500. 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 7 Sandpiper Road is listed at $6,989,000.

This stunning and unique direct waterfront home with private beach in

Saugatuck Shores was custom designed by noted area architect Peter

Cadoux, and its nine gracious rooms offer exceptional carefree living.

The beautifully landscaped .68 acre property also includes a private

beach.

The stone and shingle style colonial with a hint of European flair

could itself be considered an architectural masterpiece, and the

6,100-square foot home was designed to take in outstanding unobstructed

waterviews from most every room.

No expense has been spared with expert craftsmanship and exquisite

detailing throughout this nine-year old home includes a wonderful open

and flowing floor plan, and semi-circular rooms overlooking the Sound.

The front-to-back foyer allows for calming Long Island Sound views

the moment you enter, and each of the three floors of living area take

full advantage of the scenery.

The great room with tray ceilings has a stone fireplace flanked on

either side by built-ins and window seats, and two sets of sliding doors

which lead out to the covered deck and screened porch with fireplace.

A custom gourmet kitchen is open to the great room, and features

top-of-the-line appliances and limestone counters. A two-tiered center

island has matching tops, and comfortably accommodates four for an

informal bite, as well as a breakfast area with banquet seating.

The dining room has a custom tray ceiling, floor-to-ceiling wine

cooler and two sets of sliding glass doors to the covered veranda with

teak ceiling and built-in Viking grill.

The Cherry paneled library can easily be an additional bedroom, has

extensive built-ins, and a semi-circular wall with windows with “forever

views” of the sound and a French door to the covered stone patio.

A separate den has built-in seating and cathedral ceilings.

The master bedroom wing occupies the right side of the second level,

has a gas fireplace and a semi circular sitting room overlooking lush

manicured grounds.

Outstanding views of Long Island Sound are both indoors and out

through a French door to the covered deck.. A sumptuous marble bath

includes a two separate water closets, a jetted tub and glass enclosed

steam shower.

Two large fitted walk-in closets ensure everyone has enough clothing storage.

Three additional bedrooms are each en suite, and the media

room/additional en suite bedroom on the top floor has a French door to

covered balcony. The sitting area with French doors opens on to an

expansive rooftop deck with breathtaking views of beach and Long Island

sound.

A covered lanai on the ground level offers a “grotto” with stone

fireplace, another built-in Viking grill and a quiet place of outdoor

respite overlooking gunite pool with spa, beautifully landscaped

.68-acre grounds with specimen plantings and unobstructed views of Long

Island sound.

The ground level also includes an in-door cabana with kitchen,

laundry and full bath marble bath and changing room with French door to

covered lanai.

Schools—Kings Highway, Coleytown, Staples

Extras and items to note—Four to five bedrooms, six full and one-half

baths, four fireplaces, 9-foot ceiling height on all levels, elevator,

security system, audio system, central vacuum system, public water,

public sewer, rooftop deck, private beach, Gunite pool and spa, three

car garage, generator.

Annual taxes are $60,875 and includes separate beach front property.

Listing/photo courtesy of Halstead Property/Westport.

Thursday, August 25, 2016