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Westport, CT Real Estate News

By Michelle Genovesi
(Michelle & Company William Raveis)
Like numbers? You're in the right place! We've compiled a 6 month statistical report on Westport CT, taken right from the multiple listing service, that we up-date weekly for you. Each town's active, contracted and sold properties, their average days on the market, as well as their highest, lowest, median & average price are here to help you understand what's going on.... Any questions? Call us!   Town Of Westport for the week of Oct 4, 2008  
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By Marilyn Katz, ABR, e-PRO - WestportCTProperties.com
(Berkshire Hathaway HomeServices New England Properties)
After a disappointing spring, single family homes sales, in Westport Connecticut, provided an encouraging note, for the housing market.  When compared with the previous year, July sales posted gains in average sold price, median sold price and overall dollar volume.  Number of transactions was flat, with 38 units sold in July 2008, compared with 39, in 2007.  During the previous four months, unit sales had posted losses between 44 and 57 percent. While the increased number of monthly transactions was good news, it does not necessarily mean that the market has rebounded.  One possible explanation for the surge in sales may have to do with the psychology of the market.  During the traditionally strong spring months, March through June, the public was being told about the fantastic opportu...
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By Marilyn Katz, ABR, e-PRO - WestportCTProperties.com
(Berkshire Hathaway HomeServices New England Properties)
During the 2nd quarter, the housing market, in Westport, CT, continued to be soft.  Although not a dramatic drop, average sale price, of a single family home, fell 6%, compared with the comparable period, a year ago.  Unit sales slowed to less than half the 2007 pace.  Condominiums maintained their selling price, actually climbing 3 percent,  Unit sales, however, dropped a whopping 67 percent.  There are currently 23 condominium units for sale in Westport.  The average asking price remains steady, at $825,957.  If buyers are looking for bargains, they are not finding it in the Westport condominium market.  Perhaps, that, in part, explains the precipitous drop in unit sales.  If the current unit sales rate continues, there is more than a years supply of inventory. Westport, CT Sales,  Cl...
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By Marilyn Katz, ABR, e-PRO - WestportCTProperties.com
(Berkshire Hathaway HomeServices New England Properties)
Mention the beach, in Westport, and everyone knows you're referring to Compo Beach.  During the Revolutionary War, it was where the British landed, as they prepared to march on Danbury.  In 1920, it was where F. Scott and Zelda chose to enjoy their summer.  Today, it is where Westporter's go to enjoy the sand and surf of Long Island Sound, to picnic or explore the playground, to try out the skate park or the ballfields, to windsurf or launch their boats.  But, Compo is not the only beach in Westport.  Just up the road, you will find Old Mill Beach.  Old Mill Beach is open to the public, but, in-season parking is restricted to local residents.  If you need a place to rest, after enjoying a walk along Hillspoint Road, there are benches, from which you can enjoy the scenery.  However, swim...
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By Mike Tetreau, ABR, CRS, GRI, Sales Vice President
(William Raveis Real Estate - Fairfield, CT)
Westport Homes for Sale July 2008  It is easy to see from the numbers that the inventory of homes for sale has been steadily climbing every month. We are now running over 10% ahead of last year.  This means there is more competition for homesellers than ever before.  It also means buyers have more options and in this market they are taking their time to window shop before making a decision.    2007 2008   220 193 -12% 270 248 -8% 295 289 -2% 317 304 -4% 312 337 8% 322 364 13% 313 348 11% 305     272     292     248     227    
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By Marilyn Katz, ABR, e-PRO - WestportCTProperties.com
(Berkshire Hathaway HomeServices New England Properties)
Downtown Westport will be a hotbed of activity, this weekend.                                                   The Friends of the Westport Library will present the 15th Annual Westport Library Summer Book Sale.  The sale will open on Saturday morning, at 9 A.M. and run through Tuesday afternoon. at 1 P.M.  Both new and used books, will be sold, including some special collections.  Tables will be arranged by category and there will be a separate tent for children's books.    Another tent will feature audio-visual materials.  Audio books will be available in CD and tape format.  For  those of us who remember what a record is, there will be a collection of 78's. In all, there will be over 70,000 books for sale, with prices starting at 50¢.  Admission is free and there will be no sales tax...
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By Mike Tetreau, ABR, CRS, GRI, Sales Vice President
(William Raveis Real Estate - Fairfield, CT)
Westport - Greens Farms Real Estate Update June 2008 It has been a very different six months for Greens Farms Real Estate.  Coming off a superb 2007, everything looked like this neighborhood was immune to any of the national or regional real estate slowdowns.  However, we now are experiencing home sales being off almost 60% from last year.  This is an average of just over 2 homes sold per month. With an inventory of 39 homes for sale, this means that we have a 20 average market time.   With only 13 sales, we don't want to put too much weight on the sales numbers.  However, we are showing a 17-29% drop in Average Selling Prices.  This is one of the largest drops Westport has seen in any neighborhood. The silver lining is this is a great time to buy and there are some great values to be h...
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By Marilyn Katz, ABR, e-PRO - WestportCTProperties.com
(Berkshire Hathaway HomeServices New England Properties)
According to anecdotal evidence, there were lots of consumers house hunting, in Westport, CT, during the spring market of 2008.   However, half-year sales statistics do not reflect that activity.  Perhaps, expectations were too high.  Buyers, armed with media stories of puchases, 25, 30 or more percent, off asking price, came ready to buy their Westport dream homes, at bargain prices.  Instead they found moderating prices but no huge discounts.  Others could not move forward, on their purchase, because their current home had not sold. Prices remained stable, when compared with the comparable period, a year ago.  Average sale price of a single family home rose less than one percent in 2008, to $1,690,810, compared with $1,677,291 for the first half of 2007.  Median sold price also remain...
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By Mike Tetreau, ABR, CRS, GRI, Sales Vice President
(William Raveis Real Estate - Fairfield, CT)
Westport Real Estate Update - June 30, 2008 Buyers are still waiting....so this is impacting the Closed Sale count for the year in pretty dramatic fashion....Sales are off 44% from last year at this time.  Certainly there is nothing wrong with the Westport Real Estate market.  It is pretty obvious that the national trends and consistent negative news reporting is having an impact. Prices are reasonably stable.  Prices are down but not dramatically.  Sellers are being patient and seem to be willing to wait out the market.  Since the local economy is holding its own, the turnaround could happen any time.  Most economists seem to projecting a continued slowdown through at least the next twelve months or so.... WESTPORT Update Year to Date Sales of Single Family Homes As of June 30         ...
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By Marilyn Katz, ABR, e-PRO - WestportCTProperties.com
(Berkshire Hathaway HomeServices New England Properties)
When you think of Westport, Connecticut, it doesn't usually conjure up a bargain hunter's paradise.  For Westport residents, however, a hands-down, favorite bargain is Longshore Town Park.  For $35, residents can obtain a handpass, which allows them to sign up for recreational programs, have free use of the Longshore swimming pools and for nominal additional fees, golf, play tennis and obtain boat launch permits.  For tennis lovers, however, today was free!!  One day, each summer, Longshore hosts a Family Tennis Festival, to introduce town residents to this wonderful facility. The Festival offered something for everyone.  There were Junior Clinics, starting with the 3-5 year old, PeeWee class.  Watch out Rafael and Venus. There are new champs in the making, just warming up. There were a...
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By Marilyn Katz, ABR, e-PRO - WestportCTProperties.com
(Berkshire Hathaway HomeServices New England Properties)
There's still time to "shop 'til you drop", this weekend, in Westport, Connecticut.   Today was the first day of another of Westport's popular weekend summer events - The annual Sidewalk Sale.                              Many shops, along Main Street and the Post Road, displayed their wares, outside their storefronts.  Others cheated the "Sidewalk" title, a bit and invited you inside, out of the heat, to take advantage of the weekend sale prices. As a welcome contrast to the soaring gas prices, Westport vendors offered the opportunity to make selections from "50% off" racks, $10 per item" tables, 3 greeting cards for $1, choices and other sale and discount enticements The weatherman is predicting a perfect weekend to  stroll downtown Westport.  The sale continues through this Sunday, J...
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By Mary Beth Grasso
(Keller Williams Realty)
A few weeks ago we featured Nikki Bates, a local jewelry designer, at one our open houses.  The jewelry party turned out to be a wonderful collaboration! Our guests were very impressed with the community here at The Reserve as well as the quality construction that ARS Partners delivers in each of their homes. Keep checking our website, www.TheReserveAtPoplarPlains.com, often for more events that will feature one-of-a-kind artisans from the area.
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By Mary Beth Grasso
(Keller Williams Realty)
As the summer gets underway, we all have an opportunity to go swimsuit shopping. While shopping for a swimsuit you start to realize just how special the opportunity to customize something really is. If we could customize our swimsuits the way that buyers can customize a home at The Reserve, our shopping experience would be quite different! We encourage you to come by and meet with the builders and discuss the many ways there are to customize the beautiful homes that we have available. You can select the number of bedrooms, the finishes, the type of lower level layout, the roofline and so much more, making sure that this home fits your families unique lifestyle. So keep in mind that while you may not be able to customize your swimsuit this summer, you can customize your new home at The R...
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By Mary Beth Grasso
(Keller Williams Realty)
Each season the town of Westport has wonderful events that bring the community together.  This Fourth of July the beautiful fireworks display can be viewed at Compo Beach on Thursday, July 3. For more information visit www.westportct.gov.  If you're considering moving to Westport, or just visiting, make sure to take advantage of the many summer activities that are available. While you're here make sure to stop by The Reserve and enjoy the beauty of our nature trails, ponds and homes.
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By Mike Tetreau, ABR, CRS, GRI, Sales Vice President
(William Raveis Real Estate - Fairfield, CT)
Westport Home Sales May 31, 2008 It is hard to believe that at this point in the year, Home Sales in Westport are off 42% from last year and that after five full months only 89 homes have sold.  We have our fingers crossed that like 2007, this year will have a strong second half.  The local economy seems to be in fine shape.  The slowdown is due mainly to a lack of buyers. Based in internet activity, there seems to be a lot of window shopping going on.  Interest Rates appear to have hit bottom for now according to the Fed.  Prices have dropped slowly and don't appear to be dropping further.  Overall, this would be a great time to buy - lots of inventory combined with low prices and low interest rates.  The flurry of news on the national front that keeps harping on the tough economy toge...
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By Ruthman Real Estate
(Accessibility & The Power to Advise)
     Sunday, June 22, 2008, the weatherman said it was going to rain.  The sun was (somewhat) shining, and we were determined to picnic someplace other than our patio.  Betting on the sun to dry up all the rain, we decided to venture not far from our Weston home and shuffled off to Sherwood Island Park for the day.     The skies were over-cast as we unpacked our car.  We settled for a picnic table under a lightening rod, I mean tree, that was close to the parking lot...(still concerned about rain).      The park had some signs of life, but it was reasonably quiet.  I opened up the snacks, (all that fresh air made me hungry), and Chris got to work on this grill he decided to buy.  Eventually I noticed I was not needed for the project.  He is The Grillmeister you know.  So I took a walk w...
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By Marilyn Katz, ABR, e-PRO - WestportCTProperties.com
(Berkshire Hathaway HomeServices New England Properties)
Westport is a terrific town to live in, year round, but, during the summer, it really shines (pardon the pun.)  A definite sign that summer is arriving (beside this week's 90+ degree weather), is the opening of the 101st Yankee Doodle Fair.The Fair runs from Thursday, June 12 thru Sunday, June 15.  It is sponsored by the Westport Women's Club and serves as their major fundraiser, of the year.  All net proceeds benfit local charities.  The Yankee Doodle Fair offers something for kids, of all ages.  There are rides and kiddie game, weekend crafters, a food court, bake sale, plant sale and Sunday, farmer's market. The Westport Women's Club is located at:          44 Imperial Avenue, WestportFair hours are: Thursday 6-11 PM                      Friday     6-11 PM                      Saturd...
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By Mary Beth Grasso
(Keller Williams Realty)
We recently spent time at the Fairfield Dogwood festival. It is a celebration of the beautiful blooming Dogwood trees that can be found all throughout Fairfield County and The Reserve too.  The weather in New England is fickle at times and we have been waiting for the spring weather to come and to stay. After a few false starts we may be on to a warming trend. The result is that the plants, both landscaped and naturally occurring, all around The Reserve are in bloom. It is worth taking a ride to visit our ponds and to take a walk with your family on our nature trails.  Enjoy New England this beautiful time of year and enjoy the beauty that The Reserve at Poplar Plains has to offer.
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By Mary Beth Grasso
(Keller Williams Realty)
It has been a busy week with another Broker Open House. We have had quite a few brokers and agents from Westport, Weston, Wilton and Redding visit this week. The feedback continues to be positive and we are planning showings with several agents and their clients. Now is a great time to buy at The Reserve as there are still several homesites to choose from and construction can be complete in as little as 10 months time. In addition, buyers who choose the fully furnished option will be able to work directly with a design team from our designer of choice, Lillian August. This is a buyer benefit that is perfect for anyone with a busy schedule who needs some guidance to make the decorating of our spacious homes more manageable. Lillian August works quickly and can design the interior of your...
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By Mary Beth Grasso
(Keller Williams Realty)
Following up on the interest of color, it is interesting to note that Pantone (the people that provide standard palettes for a number of industries, mainly graphics, fashion and interior design) has declared that the color of the year for 2008 is Blue Iris. The reasoning behind the selection of this color is one that you may or may not agree with. (To read more about the color of the year go to http://www.nytimes.com/2007/12/20/fashion/20COLOR.html) But we think the most important point to come out of this story is that color is powerful. Color evokes emotion, brings us back to a comfortable place and makes us feel at home. We invite you to come and see the floor plans available at The Reserve at Poplar Plains and imagine yourself surrounded by not only luxury and the beauty of nature, ...
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