Greenwich CT, Residential Real Estate Analysis and Blog: November 30th

Greenwich, CT Residential Real Estate Analysis: November 30th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

The house that intrigued me the most this week was 50 Zaccheus Mead Lane.  As I walked in I was awestruck by the 19th Century Barn interior that the owners have done an incredible job keeping the feel of the time.  The room is spacious and open.  The wood rafters and gorgeous granite stone fireplaces on each side of the room, with the stone chimney's climbing the side walls stand out with their timeless beauty.  Moving from that room to the rest of the house that was renovated in 2000 are five bedrooms, and 6 and one half bathrooms.  It is listed as being 5,684 s.f. sitting on 2 acres of land.  The price of the home is $6.695M. Scroll down for more detailed statistics regarding the market.  My personal opinion is that the best way to understand where the market is to analyze it from a price range standpoint.  Then, to be able to see the amount of inventory versus the amount of properties sold in each price range gives us the best sense of the market.  Scroll down to see these broken down as months on average it would take to sell through the current inventory.  You can compare the current weeks numbers against the numbers from previous newsletters at www.greenwichrealestateguy.com/blog. As always, if you have a house in mind you would like to see, please do not hesitate to call me.   I would like to thank Mark Pruner for mentioning me in the Greenwich Patch.  Mark also does his own synopsis of the Greenwich Market at www.greenwichstreets.com.  I have updated the mortgage information on the bottom of the newsletter as well.  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   I believe these two graphs sum up the market perfectly.  In November we had 37 properties sold while 45 new properties were listed on the Greenwich MLS. This is a little concerning as this breaks the streak of four consecutive months in which we sold more properties than we did in the same month the last two years.  New Listings With the Thanksgiving Holiday coupled with us coming to the end of the year we did not see the amount of new listings grow very much over the last couple of weeks.  We ended November at 45 new listings compared to 52 in November of last year.    Year to Date Sold As the end of the year slows down we do not see a tremendous change in the percentages.  We saw a one percent growth from 30 to 31 in the $500K-$1M range and a one percent drop in the $1.5-$2M range. Year to Date Available    We saw a one percent drop in the $500K-$1M range and a one percent growth in $1M-$1.5M. 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.  We are currently 48 weeks through the year. In the $0-$500K range we have 7 months on average to sell through, which is a month decline in the past two weeks. $500K-$1M  we have 5.12 months.  In the $1M-$1.5M we have 10.53 months. $1.5M-$2M we have 9.34 months.  $2M-$3M we have 12.07 months.  $3M-$4M we have 16.98 a drop of over a month, $4M-$5M we have 20.4 drop of a month. $5M-$7.5M we have 24.12 months. $7.5-$10M we have 40.6 months.  $10M and above we have 36.63 months a gain of a month.   Open Houses December 2nd      Below are all of the Greenwich Open Houses for Sunday.  If you click on the link it will take you to the listing.  It should be a beautiful Sunday, so enjoy.  The first three on the list are for rent. Address Town List Price Time Broker 115 River Road #10 Cos Cob $4.1K 1-4 PM Prudential 45 Close Road Greenwich $12.5K 1-4 PM Prudential 212 Taconic Road Greenwich $23K 1-4 PM Prudential 1465 E Putnam Avenue #418 Old Greenwich $279K 1-4 PM Raveis 230 Valley Road Cos Cob $650K 2-4 PM Raveis 98 Putnam Park #98 Greenwich $695K 1-3 PM Raveis 64 Richland Road Greenwich $699K 1-3 PM Coldwell Bnkr 133 Lake Avenue Greenwich $749K 1-4 PM Prudential 115 River Road #10 Cos Cob $775K 1-4 PM Prudential 1 Glen Street #1A Greenwich $855K 1-3 PM Colonial PropSearch 25 Griffith Road Riverside $999K 2-4 PM Raveis 73 Weaver Street #16 Greenwich $999.5K 1-3 PM Halstead 21 Mallard Drive Greenwich $1.095M 1-4 PM Coldwell Bnkr 32 Ferncliff Road Cos Cob $1.195M 1-4 PM Prudential 73 Weaver Street #18 Greenwich $1.195M 1-3 PM Raveis 116 Lockwood Road Riverside $1.275M 2-4 PM Raveis 90 Buckfield Lane Greenwich $1.495M 1-4 PM Prudential 43 Stag Lane Greenwich $1.85M 2-4 PM Sotheby's 25 Midwood Drive Greenwich $2.195M 1-4 PM Edwards & Assoc. 530 North Street Greenwich $2.995M 1-4 PM Raveis 26 Stag Lane Greenwich $3.39M 12-2 PM Advantage Rlty 28 Brynwood Lane Greenwich $3.85M 1-3 PM Ogilvy 1333 King Street Greenwich $3.895M 1-3 PM Coldwell Bnkr 4 Cove Ridge Ln/Hendrie Drive  Old Greenwich $3.995M 1-3 PM Coldwell Bnkr 44 Winthrop Drive Riverside $4.195M 1-4 PM Prudential 212 Taconic Road Greenwich $4.495M 1-4 PM Prudential 45 Close Road Greenwich $4.999M 1-4 PM Prudential 11 Club Road Riverside $6.995M 1-4 PM Prudential   Mortgage Information The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of First Republic in the city and Iliad Estrada of Connecticut Home Mortgage.  Jeff can be reached at 646-372-5181.  Rates below courtesy of Iliad Estrada.  She can be reached at 203-637-6202. CT Mortgage Rates Product Interest Rates Annual Percentage Rate 15 YR Fixed Conforming 2.375% 2.608% 30 YR Fixed Conforming 3.000% 3.133% 30 Year Fixed Agency  Jumbo n/a n/a 30 YR  Fixed Jumbo 3.625% 3.746% 5/1 YR ARM Conforming 2.100% 2.944% 5/1 YR ARM Jumbo 2.250% 2.975% 10/1 YR ARM Jumbo 3.000% 3.171% Updated: Friday, November 9, 2012