Greenwich Residential Real Estate Blog and Analysis: June 26

Shared by Greenwich Real Estate Guy

Dear Greenwich,

Thank you to all of the new subscribers as of late. Above is the featured property I choose each week. Below are monthly reports, a link to set up your own queries and searches, charts and graphs on what I feel are the most important gauges of the market, and the open house list with links for Sundays. Please do not hesitate to reach out if you would like to view the featured property, or any other properties. Also, I would be happy to give an evaluation of your house, or run any analysis for you. My cell is 203-273-1034 and email is jrandall@houlihanlawrence.com.

Pictured above is 8 Willow Road. This center hall colonial is listed as having 5,187 s.f. five bedrooms with four full baths and two half baths. There are also two fireplaces. There is a great terrace for entertaining. The living room has three-exposure recess that opens to the terrace. While the family room is two stories with a fireplace, that has great french doors that also open to the terrace. There is a fabulous playroom as well. However, the location is what sets this property apart. Not only is it in one of the most desirable neighborhoods of Riverside, there is also deeded access to Willowmere beach. The property has been on the market for eight days and the asking price is $3.795M.

May Analysis

As we see the busiest part of the year start to slow down, the numbers are positive. We had matched the highest amount of closed listings in May over the past five years with 91. Also, we had 182 properties come on the market in May. There is a strong belief that one of the aspects holding our market back is lack of quality new listings, especially in the $2M-$3M range, so the fact we had a good amount of new listings we will see if that affects the summer and fall markets.

When diving into the new listings and subsequently the current inventory, I think it will be a good sign for the market. As of April 30 there were 318 active properties priced over $3M (which is the slower end of the market typically). As of May 31st we had 309 active properties priced over $3M. Conversely, under $3M we had 354 properties as of April 30, while as of May 31st we had 388 properties. Hence, the new listings that hit the market were primarily in the price ranges that properties are moving faster. This will let us see how strong the market is. If we see improvement in the closed properties in the Fall months compared to the last few years then we can make the jump that the lack of inventory is slowing us down. However, if we do not see a jump, then the market may be more stagnant.
Here is the link to the 1st Quarter Market Report my firm puts out for your review.

1st Quarter Report
Below are the May reports Houlihan Lawrence puts out:

May Greater Greenwich Report

May Old Greenwich Report

May Riverside Report

May Cos Cob Report

May Greenwich Report

I have invested in my own MLS Search for my readers. This will give access to a lot of the listing information I have. Also, if I have already set you up with your personal portal, you will now be able to search your own searches outside of what I set up for you. Feel free to test out and search properties. I feel the best attribute is that you can save your own search and choose to get alerts as new properties come on to the market, properties are sold, or change in price. All specific to your customized search. Hence, you will speed up your learning curve, becoming an expert in the specific market you care about.

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 had a great May with 91 properties close. That matched 2013 as the highest May in the last several years.

New Listings

We had 181 new properties listed in Greenwich in May which is impressive and outdid April of this year, which we rarely see. We will see if the demand is there to help push the market into the Spring.

Year to Date Sold

As mentioned in the first section this past month was a really good month based on the numbers. We had a lot of inventory hit the market but it is in the right price ranges. The biggest jump was the $500K to $1M and the $2M-$3M ranges. We also had a great May in regards to closed properties.

Year to Date Available

Open Houses for June 28th Below are the 60 open houses this weekend.
Street Name/Area/List Price/Time/Listing Office

30 Old Stone Bridge Cos Cob $8.5K 1-3 p.m. BHHS

37 Mianus View Cos Cob $8.5K 1-4 p.m. BHHS

188 Cognewaugh Cos Cob $10.5K 12-4 p.m. Designer Realty

153 Putnam Park Greenwich $495K 1-4 p.m. Sotheby’s

35 Putnam Park Greenwich $499K1-4 p.m. BHHS

30 Edgewood #A Greenwich $600K1-3 p.m. Coldwell Banker

30 Edgewood #B Greenwich $625K 1-3 p.m. Coldwell Banker

148 Putnam Park Greenwich $629K 2-4 p.m. Coldwell Banker

35 Rockmere Ave Old Greenwich $689K 1-4 p.m. BHHS

5 Glen Street #403 Greenwich $749K 1-4 p.m. Coldwell Banker

63 Indian Harbor Greenwich $815K 2-4 p.m. Coldwell Banker

7 Brookside Park Old Greenwich $840K 1-4 p.m. RE/MAX

18 Halsey Drive Old Greenwich $855K 1-3 p.m. Keller Williams

9 Muriel Place Greenwich $865K 12-3 p.m. The Relocation Group

14 The Avenue Greenwich $969K 12-2 p.m. Raveis

172 Field Point #9 Greenwich $985K 2-4 p.m. BHHS

172 Field Point #7 Greenwich $1.195M 1-3 p.m. Sotheby’s

210 Lyon Farm Greenwich $1.197M 1-3 p.m. Raveis

61 Gregory Road Cos Cob $1.225M 2-4 p.m. Raveis

30 Edgewood Ave Greenwich $1.225M 1-3 p.m. Coldwell Banker

36 Sherwood Ave Greenwich $1.295M1-3 p.m. Raveis

23 Dorchester Lane Riverside $1.375M1-3 p.m. Coldwell Banker

16 Jada LaneGreenwich $1.39M2-4 p.m.Coldwell Banker

41 Leonard Avenue Riverside $1.395M 1-4 p.m. Sotheby’s

7 Chapel Lane Riverside $1.395M1-3 p.m.Houlihan Lawrence

45 William Street #AGreenwich$1.545M1-4 p.m.BHHS

70 Bedford RoadGreenwich$1.625M1-3 p.m.Coldwell Banker

0 Doubling Road Greenwich $1.695M 1-3 p.m. Sotheby’s

6 Carriage Road Cos Cob $1.775M 1-3 p.m. Coldwell Banker

108 Glenville Road Greenwich $1.892M 12:30-2 p.m. DMK

37 Mianus View Cos Cob $1.895M 1-4 p.m. BHHS

7 Heusted Drive Old Greenwich $1.9M 1-4 p.m. BHHS

7 Anderson Road Greenwich $1.95M 1-4 p.m. BHHS

69 Mallard Drive Greenwich $1.995M 1-3 p.m. Sotheby’s

19 Pine Ridge Greenwich $1.995M 1-3 p.m. Sotheby’s

35 Duncan Drive Greenwich $1.995M 1-4 p.m. BHHS

10 Park Avenue Old Greenwich $1.999M 1-3 p.m. Coldwell Banker

15 Dawn Harbor Riverside $2M 1-3 p.m. Sotheby’s

280 Riversville Road Greenwich $2.1M 12-2 p.m. Coldwell Banker

39 Lockwood Drive Old Greenwich $2.15M 2-4 p.m. Houlihan Lawrence

19 Dingletown Road Greenwich $2.325M 1-4 p.m. Hoffman

57 Gregory Road Cos Cob $2.395M 1-3 p.m. Houlihan Lawrence

44 Orchard Place #B Greenwich $2.45M 1-4 p.m. BHHS

180 Stanwich Road Greenwich $2.6M 1-4 p.m. BHHS

900 Lake Avenue Greenwich $2.995M 2-4 p.m. Raveis

147 Old Church Greenwich $2.995M 2-4 p.m. Houlihan Lawrence

124 Birch Lane Greenwich $3.245M 2-4 p.m. Coldwell Banker

27 Cobb Island Drive Greenwich $3.295M 2-4 p.m. Houlihan Lawrence

188 Cognewaugh Cos Cob $3.45M 12-4 p.m. Designer Realty

70 Sherwood Ave Greenwich $3.775M 1-4 p.m. Charles Paternina

58 Ridge Street Greenwich $3.85M 2-4 p.m. Sotheby’s

31 Owenoke Way Riverside $3.895M 1-4 p.m. BHHS

This post was sponsored by the Greenwich Real Estate Guy.