WESTPORT / WESTON Outlook
Presented by
Michelle Genovesi

Five Highest Westport-Weston Home Sales

Westport
$10.8 million A gated private ultimate waterfront estate, spectacular views

Weston
$9.6 million Stately antique colonial with panoramic views set on 28 lavish acres

Weston
$6.8 million A family compound on 13 acres with a river, lake & waterfall setting

Westport
$6.1 million Waterfront home at Compo Beach in exclusive Owenoke community

Westport
$5.8 million 10,000 square foot country estate with pool, pool house on over 4
No REAL ESTATE BUBBLE HERE...

Westport and Weston have consistently been two of the most desirable Connecticut towns in which to live. The shorefront town of Westport just 50 miles from Manhattan offers an exceptional public school system, excellent shopping and restaurants. It also has a wealth of cultural and recreational opportunities, yet manages to maintain a small-town ambiance. Weston, dubbed by some as Westport's Back Country, expertly blends small town living with a sophisticated edge. Its public schools have been ranked number one by Connecticut Magazine, making it an ideal community for family living. Strict two acre zoning and one of the largest nature conservancies in the state are just two of the many attractions to the Weston lifestyle.

Both Westport and Weston attract a wide variety of professionals in areas such as finance, the arts, publishing and television. Both towns are a sanctuary to a number of rich and famous as well as celebrities.

Market appreciation is expected to continue, although not at the staggering rate of years past. Here are some of the numbers: In 2004 there were 710 properties sold. The average list price was $1.268 million, market time was 84 days, and the average sale price was $1.222 million. In 2005 there were 675 houses sold, the average list price was $1.432 million, the average market time was 84 days and the average sales $1.381 million.

"Bubble? What bubble?" says Michelle Genovesi, the Exceptional Properties Specialist at William Raveis Real Estate. She states, "The luxury market, including waterfront and country estate properties, continues to be in high demand. With no shortage of buyers in the $4 million - $6 million range we typically find ourselves with multiple offers, if the price is right".

As the 2006 spring market kicks into gear, several favorable conditions will attract buyers to the area: above-average year-end bonuses, low interest rates and the prospect of a safe investment.

Genovesi concludes that the New Year brings a very active and strong market and besides, she adds, "What is there not to love here?"

Michelle Genovesi has been an Exceptional Properties Realtor in Westport/Weston for the past 23 years. She ranks in the top 1/1Oth of 1% of all Realtors worldwide.
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