Greenwich CT, Residential Real Estate Analysis and Blog: December 7th

Greenwich, CT Residential Real Estate Analysis: December 7th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

The above house is a direct waterfront in Riverside, that was left untouched by the storm surge of Hurricane Sandy.  There are very few opportunities to own direct waterfront in Greenwich.  5 Bridle Path is located within Harbor Point Association, a gated community with a private beach and boat dock.  The house is listed as 4,269 on 1.02 acres of land containing five bedrooms and three and one half baths.  The inside of the house has been freshly painted and new stained floors, add to the appeal of relaxing on the porch with the views of Greenwich Point.  The price is $6.25M.  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   There was a onslaught of closed properties on the last day of November to push the sold above 2011 and 2012 numbers extending our streak to five months.  However, we are still seeing new listings out number the sold properties.  To put this into perspective, over the last three months we have had 162 properties sold vs. 269 new listings coming on. New Listings The positive here was that the new listings in November was less than the number of new listings in 2011.    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 in the $7.5M to $10M range. Year to Date Available    We saw a one percent drop in the $0-$500K range range and a one percent growth in $3M-$4M. 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 49 weeks through the year. In the $0-$500K range we have seen a big drop from 7 months to 5.7 months on average to sell through.  $500K-$1M  we have 4.63 months.  In the $1M-$1.5M we have 10.34 months. $1.5M-$2M we have 8.78 months.  $2M-$3M we have 12.07 months.  $3M-$4M we have 17.2, $4M-$5M we have 19.22 drop of a month. $5M-$7.5M we have 23.39months. $7.5-$10M we have 32.89, a drop of eight months.  $10M and above we have 36.53 months a gain of a month. Open Houses December 9th      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 on the list is for rent. Address Town List Price Time Broker 127 Havemeyer Place Greenwich $11K 1-3 PM Raveis 1535 E Putnam Avenue #402 Old Greenwich $389.5K 1-3 PM Raveis 1 Douglas Drive Greenwich $649K 1-4 PM Prudential 21 Greenwich Hills Drive #21 Greenwich $679K 2-4 PM Raveis 64 Richland Road Greenwich $699K 1-3 PM Coldwell 77 Havemeyer Ln #212 Old Greenwich $755K 1-4 PM Real Living 78 River Road #2 Cos Cob $785K 2-4 PM Greenwich Fine 18 Annjim Drive Greenwich $895K 1-4 PM Prudential 9 Sinawoy Road Cos Cob $950K 1-4 PM Prudential 21 Mallard Drive Greenwich $1.095M 1-4 PM Coldwell 44 Lockwood Lane Riverside $1.25M 12-2 PM Raveis 116 Lockwood Road Riverside $1.275M 2-4 PM Raveis 53 Locust Street #A Greenwich $1.399M 1-4 PM Coldwell 16 Norton Lane Old Greenwich $1.45M 1-3 PM Raveis 70 Bedford Road Greenwich $1.7M 2-4 PM Coldwell 45 Riverside Lane Riverside $1.775M 1-3 PM Coldwell 127 Havemeyer Place Greenwich $1.797M 1-3 PM Raveis 29 Hunting Ridge Road Greenwich $1.95M 2-4 PM Greenwich Fine 12 Ricki Beth Lane Old Greenwich $2.45M 1-3 PM Prudential 50 Hillcrest Park Road Old Greenwich $2.699M 1-3 PM Raveis 5 Dawn Harbor Lane Riverside $2.7M 1-3 PM Coldwell 64 Hillcrest Park Road Old Greenwich $3.195M 1-3 PM Sotheby's 27 Chieftans Road Greenwich $3.595M 2-4 PM Greenwich Fine 487 North Street Greenwich $5.495M 2-4 PM Coldwell   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