Greenwich CT, Residential Real Estate Analysis: September 14th

Properties Sold   We are continuing to see more properties close.  As you can see above the last two months are the first two months of the year where the sold properties outpace the previous two years sold properties.  So far this month we have had 28 properties close.  When you look below you will see it is not as strong compared to the flood of new listings, however, compared to last two years, that is good volume.  In 2011 September had 53 closings, and in 2010 there were 46 closings. New Listings As you can see above we are just two weeks into September and we have a huge increase already over the last two years, and already over last months.  I am intrigued to see if that will send a flurry of activity over the fresh properties or if it will continue to add to the excess inventory.    Year to Date Sold   In the past two weeks we saw a good number of properties sell.  There were three price ranges that saw a higher percentage than the others.  We saw about a 10% growth in these three price ranges.  In the past two weeks four properties sold in the 0-$500K range bringing the year to date total to 46.  We saw six properties sell in the $1M-$1.5M range bringing the total to 66.  We also saw three properties sell in the $3M-$4M bringing the year to date total to 35.       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.  We are currently 36 weeks through the year. In the $0-$500K range we have 7.04 months on average to sell through. $500K-$1M  we have 6.41 months.  In the $1M-$1.5M we have 10.19 months. $1.5M-$2M we have 9.56 months. $2M-$3M we have 12.04 months.  This is half of a month's drop in just two weeks.  There was a two week drop as well in the last newsletter meaning in the last three weeks we have dropped a month of inventory in this price range.  $3M-$4M we have 17.08 months which is a six week drop in just the past two weeks. $4M-$5M we have 29.9 months. $5M-$7.5M we have 27.1 months. $7.5-$10M we have 33.21 months.  This is a seven month decreas but is realistically one property selling in this price range. $10M and above we have 38.2 months.   Open Houses September 16th      Below are all of the Greenwich Open Houses for Sunday.  As mentioned above if you click on the link it will take you to the listing.  The first eight are rentals.  Enjoy your weekend. Address Town List Price Time Broker 81 Sherwood Pl #D Greenwich $8.5K 1-4 PM Prudential 1397 King St Greenwich $9.5K 1-3 PM Coldwell Bnkr 39 Willow Rd Riverside $9.975K 1-3 PM Coldwell Bnkr 48 Arcadia Rd Old Greenwich $11.5K 1-3 PM Coldwell Bnkr 81 Sawmill Ln Greenwich $12.5K 2-4 PM Prudential 45 Close Rd Greenwich $12.5K 2-4 PM Prudential 30 Sherwood Ave Greenwich $12.5K 2-4 PM Prudential 55 Will Merry Ln Greenwich $14K 2-4 PM Coldwell Bnkr 1525 E Putnam Ave #301 Greenwich $299K 1-4 PM Prudential 87 Putnam Park #87 Greenwich $389K 2-4 PM Raveis 1465 E Putnam Ave #530 Old Greenwich $389K 1-3 PM Coldwell Bnkr 176 Hobart Ave Greenwich $500K 1-3 PM Coldwell Bnkr 21 Wescott St Riverside $534.9K 1-3 PM Raveis 24 Wessels Pl Greenwich $541K 2-4 PM Raveis 60 Valley Rd #A Cos Cob $645K 2-4 PM Raveis 230 Valley Rd Cos Cob $650K 2-4 PM Raveis 51 Forest Ave Old Greenwich $680K 1-4 PM FF Realty 98 Putnam Park Greenwich $695K 1-4 PM Raveis 60 Valley Rd #B Cos Cob $699.5K 2-4 PM Raveis 133 Lake Av Greenwich $749K 1-4 PM Prudential 9 Sinawoy Rd Cos Cob $950K 1-4 PM Prudential 73 Weaver St #23 Greenwich $985K 2-4 PM Coldwell Bnkr 9 Center Rd Old Greenwich $990K 1-4 PM Higgins Grp 1 Mortimer Dr Old Greenwich $1.05M 2-4 PM Sotheby's 19 Miltiades Av Riverside $1.195M 2-4 PM Shore & Cntry  49 Indian Mill Rd Cos Cob $1.25M 1-4 PM Raveis 116 Lockwood Rd Riverside $1.275M 1-4 PM Raveis 60 Valley Rd A & B Cos Cob $1.295M 2-4 PM Raveis 81 Sherwood Pl #D Greenwich $1.425M 1-4 PM Prudential 77 Sherwood Pl #B Greenwich $1.525M 1-4 PM Prudential 99 Stanwich Rd Greenwich $1.595M 1-3 PM Higgins Grp 483 Riversville Rd Greenwich $1.595M 1-4 PM Shore & Cntry  49 Pecksland Rd Greenwich $1.695M 1-3 PM Shore & Cntry  30 Stonebrook Ln Cos Cob $1.775M 1-4 PM Raveis 43 Stag Ln Greenwich $1.85M 2-4 PM Sotheby's 127 Havemeyer Pl Greenwich $1.897M 1-4 PM Raveis 17 Sherwood Ave Greenwich $1.899M 12-2 PM Keller Williams 79 William St Greenwich $1.925M 2-4 PM Coldwell Bnkr 24 Meadow Rd Riverside $2.15M 1-4 PM Prudential 17 Candlelight Place Greenwich $2.297M 1-3 PM Prudential 48 Arcadia Rd Old Greenwich $2.479M 1-3 PM Coldwell Bnkr 11 Grimes Rd Old Greenwich $2.575M 2-4 PM Coldwell Bnkr 21 Lake Dr Riverside $2.695M 2-4 PM Shore & Cntry  30 Sherwood Av Greenwich $2.75M 2-4 PM Prudential 39 Willow Rd Riverside $2.8M 1-3 PM Coldwell Bnkr 9 Miltiades Ave Riverside $2.85M 1-4 PM Prudential 81 Sawmill Ln Greenwich $2.95M 2-4 PM Prudential 55 Will Merry Ln Greenwich $3.25M 2-4 PM Coldwell Bnkr 38 Meadowbank Rd Old Greenwich $3.3M 1-4 PM Raveis 24 Sunset Rd Old Greenwich $3.495M 2-4 PM Sotheby's 24 Marks Rd Riverside $3.495M 2-4 PM Sotheby's 36 Montgomery Ln Greenwich $3.595M 2-4 PM Summit 21 Indian Head Rd Riverside $4.1M 2-4 PM Sotheby's 125 Cat Rock Rd Cos Cob $4.175M 1-4 PM Higgins Grp 4 Cove Ridge Ln Old Greenwich $4.195M 1-3 PM Coldwell Bnkr 1 Little Cove Ln Old Greenwich $4.195M 1-4 PM Raveis 585 Round Hill Rd Greenwich $4.495M 2-4 PM Coldwell Bnkr 45 Close Rd Greenwich $4.999M 2-4 PM Prudential 487 North St, Lots 2 & 3 Greenwich $5M 2-4 PM Coldwell Bnkr 487 North St Lot #5 & 6 Greenwich $6M 2-4 PM Coldwell Bnkr 504 North St Greenwich $6.85M 2-4 PM Coldwell Bnkr 487 North St Lot 1 Greenwich $6.995M 2-4 PM Coldwell Bnkr 487 North St Greenwich $16M 2-4 PM Coldwell Bnkr    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 2.625% 2.863% 30 YR Fixed Conforming 3.375% 3.514% 30 Year Fixed Agency  Jumbo n/a n/a 30 YR  Fixed Jumbo 3.990% 4.116% 5/1 YR ARM Conforming 2.250% 3.081% 5/1 YR ARM Jumbo 2.250% 3.060% 10/1 YR ARM Jumbo 3.375% 3.453%  *as of July 15th