Greenwich, CT Residential Real Estate Blog and Analysis

Dear Greenwich,

We have had a lot of new subscribers as of late. A quick refresher of the blog. Scroll down for charts on the inventory and sold properties for each price range. Also, pay close attention to the months on average chart as it breaks down the overall health of each price point. Below that you will find the open house list for Sunday with clickable links to see the detail on each property. Lastly, I have invested in my own MLS portal for individuals to set up their own custom searches. This way people can follow their specific search by area, school, price point, lot size, s.f. etc. Feel free to search properties and you can even set up to get alerts as properties come on the market or are sold.

As a realtor in Greenwich we have Broker open house days on Tuesdays and Thursdays. Homes for sale are opened up to the realtors so that we can get familiar with the properties. When the above featured 159 Taconic Road came on the market last week and had their broker open house, it was all of the talk in the office. This spectacular colonial was built in 2015 with every detail thought of. Take a look at the pictures, as the details I loved were the differences in the ceilings of different rooms. You have the beautifully done coffered ceilings, then over the kitchen, the ceiling reminds me of a plantation style in New Orleans, mixed with columns with high gloss paint in another room. I felt the agent summed it up perfectly when she wrote, “Spectacular 2015 Colonial showcases timeless elegance of traditional architectural elements with stunning modern aesthetics.” The home is listed as 11,500 s.f. with six en-suite bedrooms. The home has seven total full baths and three more half baths. The amenities include but are not limited to home theatre, wine cellar, exercise room, 20’ by 40’ heated pool, covered terrace, a bluestone patio with built in BBQ and stone fire pit, three car garage and a generator. The house is listed for sale at $9.595M.

I believe if you scroll down to the pie charts you will see the market in a snapshot. There are still two different markets the under $2M or $3M and the over $2M or $3M market. “Looking at these two graphs, I believe really sum up the market. The below $2M market equates to 64% of the sold properties this year. However, looking below the inventory in that market equates to 37% of the available inventory. If you add in the $2M-$3M market then you are looking at 79% of sold properties to 56% of the market. Conversely the over $2M market is 63% of our total inventory and only makes up 36% of the sold properties this year.”

To further illustrate the point if you look down to the months on average graph you will see it in better detail. “This really shows the difference between the markets. Every price point under $2M is less than 7 months. While, $2M-$5M ranges between 11 months and 15 months. $5M-$10M ranges from 21 months to 47 months and over $10M it would take 120 months to sell through the inventory at the current pace.”

August Reports

Q2 Greater Greenwich Report

Greater Greenwich August Report

Greenwich August Report

Cos Cob August Report

Riverside August Report

Old Greenwich August Report

Please let me know if you would like me to provide customized information or statistics for you based on your criteria.

**The information on the featured property and all statistical information is from the Greenwich MLS.

**All opinions garnered from the statistics are my own

Properties Sold

We hav 652 available properties in Greenwich today. We have sold 512 properties. You can see July has been comparable to the past few years, only less than 2013.

New Listings

We had 98 new listings in the month of July, which is less than last year, but still a healthy number.

Year to Date Sold

Looking at these two graphs, I believe really sum up the market. The below $2M market equates to 64% of the sold properties this year. However, looking below the inventory in that market equates to 37% of the available inventory. If you add in the $2M-$3M market then you are looking at 79% of sold properties to 56% of the market. Conversely the over $2M market is 63% of our total inventory and only makes up 36% of the sold properties this year.

Year to Date Available

In an effort to define the different markets as a good time to buy or sale I believe one needs to look at the months on average it would take to sell through the inventory we have. The first chart is the 2014 inventory vs. sold numbers. The second chart is inventory today vs. sold properties.

Price Range 1/31/14 2/28/14 3/28/14 4/25/14 5/16/14 7/31/14 12/31/14
0-$500K 10.2 6.0 7.0 6.1 5.5 5.6 3
$500K-$1M 9.7 8.6 9.0 8.7 8.6 5.2 3.7
$1M-$1.5M 5.5 9.5 8.9 10.3 7.8 6.4 4.4
$1.5M-$2M 8 14.5 13.6 18.4 17.8 11 6.7
$2M-$3M 4.7 9.2 11.6 14.3 14.2 11.1 7
$3M-$4M 11 13.1 11.8 14.2 14.5 10.4 9
$4M-$5M 11.9 8.9 13.1 14.4 22.1 17.7 18.4
$5M-$7.5M 20.7 32.0 39.5 59 56.6 32 25.1
$7.5M-$10M n/a n/a 71.5 51 31.5 59.5 21.6
$10M+ 22.4 27.2 42.0 22.7 33.8 29.9 35.2

Price Range 2/28/15 3/30/15 4/30/15 5/31/15 6/30/15 7/31/15
0-$500K 4.5 4 9.6 9.6 5.4 5.3
$500K-$1M 6.3 4.2 7.5 8.6 7.4 6.8
$1M-$1.5M 4.8 4.5 6 5.5 4 3.3
$1.5M-$2M 6.9 7 8.8 8.1 6.5 5.8
$2M-$3M 10.1 8 14 15 11.6 11.6
$3M-$4M 31 20.5 25.5 25.3 16.2 13.1
$4M-$5M 54.3 26.6 30.3 27.3 17.2 15.5
$5M-$7.5M 49.1 30.2 34.6 31.7 23.8 20.9
$7.5M-$10M 20.4 36 31.3 36.4 49.6 47
$10M+ 41.7 76.5 80.5 86 103.1 120.8

This really shows the difference between the markets. Every price point under $2M is less than 7 months. While, $2M-$5M ranges between 11 months and 15 months. $5M-$10M ranges from 21 months to 47 months and over $10M it would take 120 months to sell through the inventory at the current pace.

Open Houses for September 20th

Below are the 64 open houses for Sunday.

The first two are rentals.
Street Name-Area-List Price-TimeListing -Office

4 Heather Lane Greenwich $4.7K1 2-2 p.m.Raveis

70 Riverdale #701 Greenwich $4.95K 1-3 p.m.Raveis

1465 Putnam #119 Old Greenwich $429.9K 1-3 p.m.Raveis

351 Pemberwick #911Greenwich$535K 1-3 p.m.Coldwell Banker

119 Spruce StreetGreenwich$575K 1-3 p.m.Douglas Elliman

24 Morgan AvenueGreenwich$579K 1-4 p.m.BHH

S17 Salem Street Cos Cob $849K 11-1 p.m.Coldwell Banker

70 Riverdale #903 Greenwich $859K 1-3 p.m.Coldwell Banker

1 Cary Road Riverside $865K 1-4 p.m.Davenport

70 Riverdale #701 Greenwich $879K 1-3 p.m.Raveis

42 Ridge Street Cos Cob $899K 2-4 p.m.Raveis

12 Manor Road Old Greenwich $975K 1-3 p.m.Coldwell Banker

6 Riverview Court Greenwich $1.095M 2-5 p.m.BHHS

71 Bowman Drive Greenwich $1.15M 1-4 p.m.Coldwell Banker

15 Stone Brook Cos Cob$1.195M 1-3 p.m.Weichert

33 Lyon Farm Greenwich $1.2M 1-3 p.m.Coldwell Banker

12 GeorgetowneGreenwich$1.25M12-2 p.m.Coldwell Banker

26 Valleywood RoadCos Cob$1.375M1-3 p.m.Coldwell Banker

29 Windsor LaneCos Cob$1.385M2-4 p.m.Raveis

4 North StreetCos Cob$1.399M12-2 p.m.Greenwich Realty

24 Shore RoadOld Greenwich$1.595M1-3 p.m.David Ogilvy

178 Milbank #BGreenwich$1.65M12-3 p.m.Coldwell Banker

17 Shore AcreOld Greenwich$1.65M2-4 p.m.Coldwell Banker

87 Stonehedge DriveGreenwich$1.675M1-4 p.m.Coldwell Banker

365 Round HillGreenwich$1.695M1-3 p.m.Davenport

29 Coventry LaneRiverside$1.749M1-3 p.m.Coldwell Banker

107 Havemeyer PlaceGreenwich$1.75M1-4 p.m.BHHS

112 Taconic RoadGreenwich$1.895M1-4 p.m.BHHS

65 Overlook DriveGreenwich$1.899M1-3 p.m.Sotheby’s

1 White BirchCos Cob$1.945M1-4 p.m.Douglas Elliman

22 Red Coat Lane Greenwich$1.99M12-2 p.m.Sotheby’s

10 West End Old Greenwich$1.995M2-4 p.m.Houlihan Lawrence

24 Nutmeg Drive Greenwich$1.995M1-3 p.m.BHHS

7 Finney Knoll Riverside$1.995M12-2 p.m.Sotheby’s

24 Bedford Road Greenwich$1.999M1-3 p.m.Houlihan Lawrence

10 Park Avenue Old Greenwich$1.9999M2-4 p.m.Coldwell Banker

39 Lockwood Drive Old Greenwich$2.15M2-4 p.m.Houlihan Lawrence

11 Pintail Lane Greenwich$2.15M1-3 p.m.Houlihan Lawrence

119 Hendrie Avenue Riverside$2.15M1-3 p.m.Coldwell Banker

57 Gregory Road Cos Cob$2.395M1-3 p.m.Houlihan Lawrence

268 Palmer Hill Riverside $2.595M12-2 p.m.Houlihan Lawrence

180 Stanwich Road Greenwich$2.6M1-4 p.m.BHHS

39 Indian Harbor #B Greenwich$2.6M1-3 p.m.Douglas Elliman

20 Steeple Chase Greenwich$2.695M12-4 p.m.Coldwell Banker

58 Connecticut AvenueGreenwich$2.75M1-4 p.m.Halstead

3 Little Cove Old Greenwich$2.85M1-4 p.m.BHHS

95 Valley Road #B Cos Cob$2.9M2-4 p.m.Raveis

124 Birch Lane Greenwich$2.999M1-3 p.m.Coldwell Banker

192 Bible Street Cos Cob$3.15M1-3 p.m.Sotheby’s

21 Pecksland Road Greenwich$3.45M3-5 p.m.Sotheby’s

22 Bedford Road Greenwich$3.695M1-3 p.m.Real Living

98 North Street Greenwich$3.75M1-4 p.m.Coldwell Banker

25 Cutler Road Greenwich$3.75M2-4 p.m.Coldwell Banker

14 Sherwood Farm Greenwich$3.795M1-4 p.m.Halstead

3 Gisborne Place Old Greenwich$4.095M1-4 p.m.Coldwell Banker

19 Shoal Point Lane Riverside$4.325M2-5 p.m.Coldwell Banker

560 Lake Avenue Greenwich$4.5M1-3 p.m.Coldwell Banker

851 Lake Avenue Greenwich$4.85M1-4 p.m.BHHS

37 Londonderry Drive Greenwich$5.195M12-4 p.m.Greenwich Realty

5 Crossway Old Greenwich$5.4M1-4 p.m.Sotheby’s

3 Dunwoodie Place Greenwich$5.997M1-4 p.m.BHHS

303 Milbank AvenueGreenwich$6.4M1-4 p.m.Coldwell Banker

35 Winding Lane Greenwich$6.995M12-2 p.m.Coldwell Banker

15 Andrews Road Greenwich$8.77M1-3 p.m.Coldwell Banker

Best,

Jared Randall
Houlihan Lawrence Greenwich Search Properties
www.greenwichrealestateguy.com
cell: 203-273-1034
email: jrandall@houlihanlawrence.com