Greenwich Real Estate Guy's Blog: August 12th Open House List

Pictured above is 41 Overlook Drive located in the private enclave of Milbrook. Five bedrooms with six full baths and two half bathrooms. The listing states the house is 7,700 s.f. and sits on .41 of an acre. There is an open house on Sunday from 1-3 p.m. The price is $4.3M. Below is the description of the house on the listing:

Gas lanterns greet you as you walk up to this impressive new construction home within the gated Milbrook community. Gracious floor plan, traditional construction with a contemporary flair, high-end finishes, in-law or au pair suite, inviting great room with stone fireplace and gourmet kitchen with center isle opening to the stone terraces and exterior fireplace. A few of the many special features: extensive custom millwork, hardwood floors, high ceilings, 3 car garage and a fabulous finished walk-out lower level with playroom, cinema and wine cellar. The Milbrook Club is an easy walk, and offers a private membership with golf, tennis, swimming and a gorgeous clubhouse at an additional fee.

From the Q2 Market Report from our CEO Stephen Meyers, and President Chris Meyers

The view looks good from where we sit this summer and we have you to thank for it.


Houlihan Lawrence remains at the top, as the #1 brokerage serving Greenwich, Connecticut. It is a credit to our world class agents, staff and most of all our clients that we participated in 7 of the top 10 sales in the second quarter.


As the previous quarter closed out, we predicted that when the weather improved, pent-up demand would boost our local property market. Because of our close ties in the community, we knew that serious and focused buyers were waiting in the wings, ready to finally buy their dream homes this spring.


We are thrilled to have been correct on that call. We were able to erase most of the declines of the first quarter, as both home sales and prices rose this in the most recent quarter. Rising home prices is also being seen at the national level. Home values jumped more than 7 percent in May, the biggest increase in 4 years according to CoreLogic.


We also remain vigilant in keeping tabs on relevant changes tied to the broader economic situation and political action in Washington D.C. Despite volatility, the stock market was higher in the second quarter. The job market remains strong, and corporate profits continue to grow, thanks in part to tax relief.


Buyers are still very specific when it comes to selecting a property. Homes are on the market longer, on average nearly 8 months. That is an indication that while buyers will buy when they see what they want, at the price they want, there is still no sense of urgency.


Serious sellers must have a competitive mindset ahead of listing. That means pre-market painting, along with updates, and in many cases, professional staging. Initial pricing needs to be strategic and realistic. Rising mortgage rates, and the increased cost of borrowing money for buyers also needs to be considered. An impartial outsider assessment of a property is an essential set in preparing to list a home.


Some regional statistics we'd like to share:


Greenwich North of the Parkway saw a spike in home sales, rising more than 85 percent in the second quarter compared to last year. Sellers still have to be patient. On average it can take close to a year to sell a property. But buyers are seeing value in the area and offers are conservative. That trend is reflected in a decline in average sales prices.


Sales were slower in Greenwich South of the Parkway but there were some price increases, most notably in the $4- $5m range. The highest demand is for properties priced under $2 million.


We were not surprised to see that home sales South of the Post Road benefited from their proximity to town and the waterfront community. The number of homes sold, and the average price, both gained traction.


Cos Cob was a standout success. The number of homes sold soared by 64 percent in the second quarter compared to last year. Average sale prices were higher by a staggering 34 percent. The area is close to the train for commuters, as well as dining and shopping.

Riverside home sales edged lower with some progress upward in pricing. Sellers should be mindful that buyers are taking their time. Days on market ballooned to over 200 days. Buyers don't want to overpay and have showed extreme patience in waiting for prices to come down.


There was a nice bump up in sales in Old Greenwich, though average sales prices barely inched higher. The picturesque community with its quaint village setting and bike ride to the beach remain a big attraction for buyers.


Condo sales in Greenwich showed healthy price gains. More units were sold as well. Buyers like new construction but will also pay up for pre-owned properties that are in A+ condition.


The success of the condo market is an example of the very real challenge many home owners face. While more buyers have the financial resources to move forward, they will not compromise on quality.


The market simply lacks FOMO, or Fear of Missing Out. Sellers who embrace the opportunity to upgrade their homes and manage their own price expectations will sell their property and be able to move forward with their future plans.


We accept the challenge and are ready to step up to be part of your winning team. We look forward to a winning summer season and welcoming new neighbors to our community.'

Stephen Meyers Chris Meyers
CEO President

Please feel free to email me at jrandall@houlihanlawrence.com or call at 203-273-1034 for anymore information.

Below are the 48 Open Homes for Sunday.

Street Name
Area
List Price
Time
Listing Office
11 Fairfield Avenue
Old Greenwich
$4.45K
1-3 p.m.
Coldwell Banker
21 Mallard Drive
Greenwich
$5.95K
2-4 p.m.
Davenport
181 Putnam Avenue
Greenwich
$6.25K
2-4 p.m.
Davenport
81 Hendrie Avenue
Riverside
$12K
1-3 p.m.
Coldwell Banker
22 Putnam Park
Greenwich
$489K
2-4 p.m.
Davenport
108 Putnam Park
Greenwich
$510K
2-4 p.m.
Weichert
51 Rodwell Avenue #A
Greenwich
$529K
1-3 p.m.
Raveis
12 Glenville Street #203
Greenwich
$549K
12-2 p.m.
Coldwell Banker
136 N. Water
Greenwich
$629K
1-3 p.m.
BHHS
45 Ettl Lane #401
Greenwich
$725K
1-3 p.m.
Weichert
104 Greenwich Hills
Greenwich
$730K
1-4 p.m.
BHHS
12 Oxer Place
Greenwich
$735K
2-4 p.m.
Raveis
11 River Road #116
Cos Cob
$748K
1-3 p.m.
Houlihan Lawrence
11 Surrey Drive
Riverside
$845K
1-3 p.m.
Raveis
59 Stanwich Road
Greenwich
$955K
1-3 p.m.
Raveis
115 River Road #7
Cos Cob
$989K
1:30-4:30 p.m.
Kinard
48 Spring Street #8
Greenwich
$999K
1-3 p.m.
Raveis
7 Richmond Drive
Old Greenwich
$1.049M
1-3 p.m.
Higgins Group
11 Fairfield Avenue
Old Greenwich
$1.095M
1-3 p.m.
Coldwell Banker
34 Connecticut Avenue
Greenwich
$1.095M
1-3 p.m.
Sotheby's
43 Sundance Drive
Cos Cob
$1.095M
1-3 p.m.
Sotheby's
173.5 Davis Avenue
Greenwich
$1.095M
1-3 p.m.
Sotheby's
77 Gregory Road
Cos Cob
$1.299M
1-3 p.m.
Raveis
6 Ferris Drive
Old Greenwich
$1.375M
1-3 p.m.
Houlihan Lawrence
147 Lockwood Road
Riverside
$1.495M
1-3 p.m.
Keller Williams
3 Nutmeg Drive
Greenwich
$1.4995M
1-4 p.m.
Sotheby's
7 Hettiefred Road
Greenwich
$1.6495M
1-3 p.m.
Lockwood and Mead
115 Dingletown Road
Greenwich
$1.667M
1-4 p.m.
Coldwell Banker
17 Northridge Road
Old Greenwich
$1.69M
1-4 p.m.
BHHS
633 Round Hill Road
Greenwich
$1.94M
1-3 p.m.
Houlihan Lawrence
37 Crescent Road
Riverside
$2.15M
1-3 p.m.
Raveis
81 Hendrie Avenue
Riverside
$2.195M
1-3 p.m.
Coldwell Banker
1361 King Street
Greenwich
$2.195M
1-4 p.m.
Raveis
15 Shady Lane
Greenwich
$2.265M
2-4 p.m.
Coldwell Banker
2 Randolph Place
Cos Cob
$2.295M
2-4 p.m.
Coldwell Banker
23 Stoney Ridge Lane
Riverside
$2.398M
1-3 p.m.
BHHS
481 Round Hill Road
Greenwich
$2.495M
2-4 p.m.
David Ogilvy
34 Hendrie Avenue
Riverside
$2.895M
2-4 p.m.
Houlihan Lawrence
210 Sheephill Road
Riverside
$2.8999M
1-3 p.m.
Raveis
559 Steamboat #B1
Greenwich
$2.995M
1-3 p.m.
Houlihan Lawrence
14 Coventry Lane
Riverside
$3.29M
1-3 p.m.
BHHS
6 Raymond Street
Old Greenwich
$3.675M
2-4 p.m.
BHHS
3 Dunwoodie Place
Greenwich
$4.25M
2-4 p.m.
BHHS
41 Overlook Drive
Greenwich
$4.35M
1-3 p.m.
Houlihan Lawrence
7 Dempsey Lane
Greenwich
$4.49M
1-4 p.m.
BHHS
16 Boulder Brook
Greenwich
$4.995M
1-4 p.m.
Coldwell Banker
156 Taconic Road
Greenwich
$5.35M
2-4 p.m.
Coldwell Banker
10 Crossway
Old Greenwich
$5.485M
1-3 p.m.
Raveis

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Best,

Jared Randall Join my Mailing List
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