The State of New Construction in Fairfield County

Westport has the most active new construction market along the Gold Coast. There are currently 77 new homes on the market in Westport with a median price of $2,995,000. Of those 6 are in Greens Farms and 9 are in the Compo Beach area. 11 new homes are currently under contract and 66 have sold in the past 12 months. The house above is a rendering of a proposed home listed at $11,995,000
at 17 & 20 Owenoke Park.
In Greenwich there are currently 48 new homes for sale, 44 in New Canaan and in Darien only 13. In the past 12 months, 23 new homes have sold in Greenwich, 14 in New Canaan, and 19 in Darien*.
The number of new homes being sold in Westport has been trending upward since the economic upheaval of 2008. In 2013, (a big bounce back year), there were 73 new homes sold, and in 2014, 60. That compares to 57 in 2005, 82 in 2006, and 69 in 2007. Due in part to the high costs of land in Greens Farms and Compo, there have been fewer new homes built in our neighborhoods. The numbers in the Compo Beach area on the MLS do not reflect homes that were completely rebuilt or built new after damage from Sandy or Irene.
*Statistical information taken from the Consolidated Multiple Listing Services and does not include homes not listed on the CMLS.

The New York Connection

After reading how the number of homes sold in the Hamptons grew by 48% in 2014 according to Douglas Eliman statistics, I am somewhat surprised that we have not seen more of a boost of home sales to New Yorkers looking to take advantage of our area for its proximity
to the city by train or car,  as a weekend getaway and/or summer home.

The exact numbers are difficult to calculate without going through the entire tax roll. I contacted
both the Westport Town Clerk and the Town Tax Collector to see if they would have an idea of what these numbers are, and neither of these departments were able to help me.  My own guess, and it is only a guess based on personal experience, both as a Realtor and a town resident, is that the numbers  are somewhere in the 10-15% range in Westport, and lower in surrounding towns.

On a personal level, relatives of mine purchased a home in the beach area over 50 years ago that they
have used in exactly this fashion-spending summer months walking to the beach, taking sailing lessons at The Longshore Sailing School (One of the oldest in the country), playing an occasional round of golf or tennis, or signing up for summer events organized by Parks & Rec.

The largest share of our real estate taxes go to pay for schools, but we have so much more to offer a town resident.  In addition to the aforementioned amenities, there are the town marinas, Mahackeno summer camp, Compo Beach camp, Earthplace, Westport Playhouse, local hiking areas such as Devil's Den and Trout Brook, not to mention the simple pleasure entertaining friends with a backyard bar-b-que, or during this time of year, ice skating at Longshore or sledding at Winslow park.

There isn't much happening in the Hamptons in the winter months, which is why most of the restaurants and many of the stores are closed until the summer season.

Perhaps it's better that more people haven't realized what our area offers.  The highways are already
pretty busy, and it's nice to have a slowdown on the weekends. 

10 Projects to Complete Before Thanksgiving

The Farmer's almanac is indicating that we may be having a harsh winter. Although we are now basking in warm temps and winter still seems a long way off now is a perfect time to be thinking about things that need doing around the house, according to Better Homes and Garden magazine. Replace Windows — A professional can swap out your problem windows with more efficient models that will increase your level of comfort while at the same time decrease your heating bills. This type of project only makes sense if you are planning on spending several years in the house, or if you are preparing your home for sale. It will take several years before one can expect to recoup the costs of this type of upgrade.
  Exterior Paint — Fall offers plenty of days that are warm enough to work with exterior paint, and a touch-up can help prolong the life of your siding and trim. A fresh coat of paint or sealer on any surface that will be potentially covered with snow, such as wood floors or stairs, also is a wise idea. Roof Repair — The cold of winter can aggravate even a small roof leak. Any leaks in a home's roof should be fixed in advance of the first snowfall.
  Power Washing — Having your home's exterior and windows power washed won't just make your home look sharp, it also will prevent the growth of mold and mildew that feed on grime. 
Seal Gaps & Add Insulation — Consider a home energy audit that includes a review of your home's caulking and weather stripping. Energy auditors also will likely look inside your attic. If the insulation is at or below the level of the joists, you may be able to keep your home warmer by adding more. A depth of 10 to 14 inches is generally considered optimal.
  Tune Up Furnace — Maintenance from a trained professional can keep your furnace running effectively and efficiently and prevent potentially catastrophic damage to your home from burst or frozen pipes.
  Clean, Repair, and Protect Gutters — Inspect and clean your roof's drainage system. Better still; protect your gutters with mesh guards to keep leaves and other debris from causing blockages in the first place.
  Install a Programmable Thermostat — Programmable thermostats save money without sacrificing comfort by using less energy on heating and cooling while you're away from home, asleep, or at any other specific times you select.
Repair Driveways and Walks — Small cracks and gaps in a driveway or walkway can quickly expand during winter's freezing temperatures.
  Winterize Faucets and Sprinklers — Most exterior plumbing in areas with temperatures below freezing must be winterized to prevent freezing and bursting. Winterizing more complex plumbing, such as sprinkler systems or water features, is best left to a professional.
  Fireplace Repair — Proper inspection of a fireplace is vital to ensuring its safe operation, even if it is rarely used. An experienced chimney sweep will check wood fireplaces for flammable buildup (known as creosote) and chimney blockages like bird nests.