Steady as she goes...

As a nautical town, I thought that the above terminology was an apt description of our current real estate market. The current inventory of 375 single family homes would appear on the surface to be slightly above average levels. A closer look shows only 84 of these listings under $1 million. The remaining 291 properties are listed over $1million and 142 of these are over $ 2million. That last sector, in particular, represents an overabundance of inventory.
The Greens Farms/Compo active inventory currently stands at 97, with 45 homes in Greens Farms and 42 in the Compo area, representing approximately 26% of town-wide inventory. Greens Farms has 15 properties under contract and Compo has 14. The current median price of homes under contract in Greens Farms is $1,844,000 while the beach area’s median price under contract in $2.4 million.
There have been 139 overall single family sales in Westport compared to 125 at this time in 2016. The current median price of those sales is at $1,486,000 compared to $1,350,000 at this time last year. Compo sales this year are one above 2016 levels while Greens Farms sales are lagging by 7. As of the writing of this article it is still a bit early to tell whether these trends will hold.



8 Tiffany lane is listed at $3,995,000

Greens Farms/ Compo overview

2016 was a year of mixed results. Sales of single family homes in Greens Farms were up 2, to 46, but the median price of $1,420,000 was down 10% from 2015. The reason for the change in median price was due in part to the fact that sales of homes over $2 million fell to 12 from 16 in 2015, including one sale of $16 million on Beachside Avenue.
In the Compo Beach area sales were at 35 homes compared to 44 in 2015, a drop off of 20%, but the median price of $1,577,500 was off only 1% from the previous year.
Town wide sales were also off slightly. The median price of $1,279,000 reflected a slight (2%) downward trend. Sales volume of 352 reflected a loss of 24 single family units, representing a 6% sales decrease. The highest price home at 55 Beachside Avenue sold for $8,800,000. Home below at 105 Hilandale is for sale at $3,295,000

Super Bowl Sunday Best Value in Compo Beach area Open house 1-3 p.m.

16 Buena Vista Drive    Westport, CT.  $1,999,000

Enjoy a lifestyle change when you fall in love with this new listing at Compo Beach. Morning coffee at Elvira's, a run at the beach, power-walk up Compo Hill and a relaxing dinner at home... this delightful home offers all the comforts and a spacious floorplan, in an exciting location. Step inside to the airy and open entry, which leads to the step-down LR w/ fpl. Entertain in the DR. Gourmet kitchen w/ custom cabinetry, gas stove, Sub Zero & granite counters opens to FR w/ fpl & French doors to the covered patio leading to the large, level yard. Flexible layout incls 1 of 5 BRs on the main level. The luxury master suite w/ sitting rm has a stunning designer bath w/ dramatic freestanding tub. All baths updated. Great bonus room & fin LL.