2016 Westport New Construction Sales and Pending Sales

     Sold Price                        Address                                      Acres

$2,767,000                    14 Adams Farms                                 1.00                                                  

$2,895,000                     15 Apple Tree Trail                                .21

$1,400,000                       5 Barbara Place                                    .33

 PEND                                    14 Bauer Pl                                    .27

 PEND                                35 Bauer Pl Ext.                                .30

$3,175,000                     165 Bayberry lane                               1.20

$2,675,000                  16 Blue Ribbon Dr.                                 1.00

 $3,400,000                    10 Broadview                                       1.00

$2,400,000                         6 Burr Farms                                     1.13

$3,750,000                  14 Charcoal Hill Road                             2.32

$1,575,000               18 Church Street South                                 .26

$1,542,000                       9 Colonial Road                                    .29

PEND                           142 Compo Road North                           .50

$2,880,000                     163 Compo Road South                          .82

$2,925,000                        4 Crooked Mile                                  1.00

$1,825,000                         87 Cross Hwy                                    1.03

$2,050,000                          18 Dover Road                                   .62

$3,300,000                      33 Edgewater Hillside                            .25

$1,800,000                          37 Evergreen Parkway                        32

$1,502,000                          34 Grassy Plains                                  .20

$2,800,000                           6 Green Acre Lane                              .94

$3,300,000                         12 Greenbrier Road                             1.50

$1,950,000                             122 Harbor Rd.                                  .24

$1,875,000                              126 Harbor Rd.                                  .25

$1,800,000                                  9 Hen Hawk                                   .53

$1,677,500                                 10 Hilltop Trail                                .28

$1,580,000                                 5 Horseshoe Lane                             .30

$2,050,000                                   164 Imperial                                   .43

$2,725,000                                    23 Juniper Road                             .52

$4,235,000                                  3 Kensington Place                         1.25

$1,497,000                                   18 Long Lot Road                           .43

$1,650,000                                    28 Long Lots Road                         .39

$2,750,000                                         4 Loretta Ct                                .51

PEND                                              32 Mayflower Pkwy                      .68

$3,365,000                                         4 Melon Patch                           1.25

$3,814,242                                        18 Moss Ledge                           1.05

$ 2,000,000                                      21 Norwalk Ave.                            .11

$2,400,000                                           131 Old Rd                                 .93

$2,375,000                                  15 Old Orchard Road                          .50

$4,400,000                                     34 Owenoke Park                             .52

$1,700,00                                             4 Partrick Road                         2.04

$3,050,000                                            7 Peach Lot                              1.02

$1,675,000                                             2 Pine Drive                              .30

$1,863,500                                            16 Ridge Drive                           .27

$4,250,000                                             10 Round Pond                        1.03

$3,760,000                                              10 Rustic Ln                            1.02

$2,180,000                                              6 Silent Grove                          1.02

 $2,195,000                                            1 Stonewall Lane                      1.00

$1,395,000                                              14 Sunrise Road                        .27

 $1,685,000                                             1 Teragram Place                       .29

$1,825000                                                   7 Tupelo Rd                         1.53

$2,769,000                                            11 Turkey Hill Rd. So.                .63

 $1,400,000                                         14 Wakenor Road                          .26

$1,675,000                                                27 Westfair Dr.                        .29

$2,500,000                                                36 Whitney St.                        .87  

$2,800,000                                             14 Windy Hill road                   1.16

$2,400,000                                               11 Woodcock Ln.                    1.00                                                 

A look at Westport: Greens Farms & Compo Beach areas and Town-wide Real Estate market

The number of sales in Westport through the summer months of 2016 is currently identical to that of 2015, with 257 closings.  The median pricing town-wide is also nearly identical.  The median price in 2015 was $1,305,000 at this point in the year compared to $1,295,000 as I write this article. 

Greens Farms has seen 35 sales pass title, year to date, compared to 28 at this time last year.  Some of this increase can be attributed to increased sales under $1 million, 12 compared to 9 last year. On the high end (over $2 million), 2016 sales are 10 compared to 11 last year in Green Farms.  The median price in Greens Farms has dropped to $ 1,307,000 vs. $1,625,000 at this time last year.

The Compo Beach area has seen a drop in sales from 32 last year to 25 at this time of year. The high end sales are down to 12 thus far, compared to 18 last year.  This change is reflected in the median price which now stands at $1,677,500 compared to nearly $ 2.5 million last year.  The 6 sale differential could be seen in the $2-3 million range.  There have actually been 5 sales over $4 million this year compared to 4 last year, but 2015 also saw one nearly $12 million sale.

Smart Home Improvements

Should I update my kitchen or bathrooms? Or redo my floors?

It depends if you’re looking for a long term upgrade or planning on selling in the near future.  Although kitchens have become the most central room in the house the styling trends are changing about every 5 years, so if you’re planning on selling in the next 5 years then your kitchen will most likely still be in fashion when you decide to sell. 

When it comes to the biggest bang for your buck, nothing beats painting. Not far behind is redoing floors, but I would recommend waiting until shortly before you sell to do this unless you’re planning on staying put for a while and want to take advantage of a totally different floor stain.

Redoing bathrooms is a lot less costly than redoing a kitchen and the average buyer is less discerning when looking at bathrooms than a kitchen.  A new vanity, mirror and paint can transform a bathroom. Other easy upgrade options are changing vanity countertops to granite or marble if your vanities are still in good shape, and replacing vanity hardware.

Another great idea for freshening up your home is replacing the hardware on your doors, especially if they are worn.

April Showers Bring More Sales

Despite less than ideal weather conditions, all of the towns in Mid-Fairfield saw increased activity in April. 

Westport led the way in April with increase of homes going to contract up 105%.  On a yearly basis 151 single family homes have gone to contract, up 54%.  From the perspective of the Median Sales Price, it currently stands at $1,397,500, an increase of 11.8%.  Closed sales are up 96 compared to 86 at the end of April 2015.  This is an increase of 17.1%.  In terms of new listings coming to the market, April actually saw a decrease compared to April, 2015.  However, year to date the number of homes on the market is up 16%.  Early indications in May are showing increased new listings.  Given the wet weather that we’ve had it is likely that we will have a later than normal spring market.

Wilton also saw an impressive jump in April sales activity.  43 homes went to contract compared to 22 in April, 2015.  That’s a 96% increase!  Year to date there have been 86 homes that have gone to contract compared to 59 last year at this time.  That represents a 46% increase. The median price has remained relatively flat.  Currently standing at $875,000, this is an increase of 1.7%.  New listings were also down in April in Wilton, though for the year they are up 8%.  Closed sales are up slightly 46 vs. 43 through April 2015.

Weston has been lagging its neighbor to its west, Wilton, in 2016.  The median price of $749,000 is about 16% lower than Wilton.  Weston did have a good April with 24 homes going to contract compared to 16 in April, 2015.  On a yearly basis homes going to contract is up nearly 11%.  New homes coming to the market was also down in April, but for the year are up nearly 16%.  Closed sales are up slightly from 33 to 34 this year. 

Fairfield saw all of the same tendencies as its neighbors.  New listings were down in April, but up 8% so far for the year.  Pending sales were up in April, and for the year are up 40%, though closed sales are only up 8% through April.  The median price has been slowing gain ground in Fairfield, up 6.2% for the year to $582,000. 

Multiple offer situations are on the increase for new listings that are well priced and in excellent condition.  Mortgage rates remain near historic lows.