The Bargain Neighborhoods, Madison CT, Estate of the Day

by Deidre Woollard (RSS feed)
Apr 26th 2008 at 1:02PM

NeighborhoodScout.com has used their matching function to find neighborhoods that are "discount equivalents" of some of the hot and pricey communities we recently covered in our Most Expensive Zip Codes estates.

The Neighborhood Scout deems that the town of Madison, Connecticut is a good equivalent for Malibu, the expensive celebrity-filled beach area north of Los Angeles. Malibu has a median price of $2.93 million but Madison has a far more reasonable median price of $649.344. Madison also has a much longer history than Malibu, it was first settled in 1641. Madison is also a beach community on the Connecticut shoreline. Hammonasset State Park in Madison boasts the state's longest public beach and like Malibu it gets crazy crowded in the summer.

In Malibu, especially in the elite Carbon Beach area where it is rumored that a sale in the $65 million range recently took place, you have to be prepared to pay a lot. Also even some of the most striking homes such as one of my favorite estate of the day properties, special effects master Stan Winston's Malibu home are in tight proximity to one another. In Madison, prices are for more reasonable. Today's home has a great setting on Long Island Sound with a front yard that leads to a double tiered sandy beach. The 5000 square-foot home has been renovated and includes a great room with floor to ceiling stone fireplace, a gourmet eat-in kitchen and six bedrooms total. The master bedroom has a private balcony overlooking the water and a spacious master bath. This home is listed at $4.9 million.

Gallery: Madison CT

Tags: connecticut, estate of the day, luxury real estate, LuxuryRealEstate, madison, neighborhood scout

Filed under: Estates

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Reader Comments (Page 1 of 1)

Marie Gwertzman Apr 7th 2008 11:18PM

I'm not sure I get it. You describe Madison CT as a more reasonably priced area than Malibu (where you cite a median price of around $2.9 million) but the admittedly lovely home you showcase in Madison is selling for $4.9 million. That may be a very nice house but it's certainly not less expensive than Malibu!

Andy Apr 26th 2008 1:35PM

I've lived in Malibu and my girlfriend lives in nearby Guilford, CT. Both beautiful areas, but very different. For the same price, you can get a lot more in Madison.

GlobalDia Apr 26th 2008 2:55PM

$5mio for THAT?!?!??! buahahahah!!!!!!

Chris Apr 26th 2008 10:59PM

I grew up in CT and went to Hammonasset often; my sister has a place down the shore in Point-of-Woods.

I would never buy property in CT on the shore, because Long Island buffers it, the waves stink! Or I should say, the lack of waves except during a storm.

Now, if you don't like 'em, that's fine, but for me, I'd look eastward to Rhode Island, which has great waves and beautiful beaches. In fact, there's a superb property in Watch Hill you should profile.