The above Shingle Style Colonial home is located at 7 Binney Lane in Old Greenwich.  I will be doing an open house here on Sunday from 1-3 p.m.  Feel free to stop by and say hi.  This is one of the homes that I feel is a value.  This home has beautiful landscaping and a gorgeous pool.  There are seven bedrooms six full baths and two half baths.  There are not many opportunities to have this much space and a pool one of the most prestigious streets in Old Greenwich.  On top of being in a private association there is a great walk out lower level with an au-paire suite, potential wine cellar, and media room.  It is also very important to note this house is not in a flood zone.  The home first came on the market in April of 2011 for $5.495M, and is now currently listed at $3.995M.  This is less than the owners paid for it.  Also, the home is vacant, and typically vacant homes are more flexible in price.  All reasons why I think this is a value.

Currently, we have 616 properties on the market, continuing the trend of declining inventory over the last several weeks.  We continue to see the 0-$3M get more competitive while the over $3M range adds more inventory.  When you look at the charts you will notice that the sold properties continue to outpace the activity from recent years.  However, notice that in the last two months the new listings have out paced recent years.  Hence, the market is improving drastically and the sellers are starting to see this as the time to sell, so we are not seeing a drastic improvement in the amount of inventory.  For the amount of sales that we are seeing we are not seeing a corresponding shift downward in the months on supply (scroll down for the months on supply chart).  My opinion from this is that it is still a great time to move up in price range.  Especially if you are moving from under $3M to over $3M.  

If you did not read last week's post I am still very excited to announce that I have been offered an incredible opportunity to sell real estate for Houlihan Lawrence.  I have been very impressed with the marketing capabilities of Houlihan, as well as their strategic partnerships to help ensure clients are getting their homes marketed as widely as possible.  Read an article that appeared in the Greenwich Patch last month when Houlihan Lawrence entered the marketplace; Houlihan Lawrence CT Presence.  I would be happy to discuss the benefits of Houlihan, and how I can help you buy or sale properties.  If you would like a price evaluation or set up an introductory appointment, please do not hesitate to call or email.  

Below are the Sold Price to List Price percentage for each of the four towns as well as some neighborhood data:

Sold Price vs. List Price

Neighborhood Data

 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   

For the first few of weeks of October we have sold 60 properties, there were 49 sold properties in October of 2012, so we having a very good October.  We have seen the luxury market bounce back as well, for the first several months we had one property sell over $10M.  We have had 4 properties sell over $10M relatively quickly bringing us to five total for the year.

New Listings

We had 24 new listings last week, bringing the total to 94 new properties in October.  October is typically the last month to get properties on the market, before the market slows, which typically happens the week before Thanksgiving.  However, this does show that even though the market is vastly improving the sellers are seeing this as the opportunity to put their house on the market.  Look at the September and October new listings.  October 2013 is through October 25th.