Greenwich CT, Residential Real Estate Analysis and Blog: March 22nd
Sunday, April 7, 2013 at 8:36AM
Jared Randall
Greenwich, CT Residential Real Estate Analysis: March 22nd
A weekly analysis brought to you by Greenwich Real Estate Guy.
38 Circle 

 The above pictured Colonial came on the market two days ago.  I am featuring it as it is south of Post Road, newer construction listed for under $2M.  38 Circle Drive is listed as 3,700 s.f. and sits on .35 of an acre.  There are nine foot ceilings, an open floor plan.  I liked how the kitchen opened up into the family room.   There are great en suite bedrooms, and an impressive master suite.  The house is close to 95, the train station and backs up to Milbrook Club.  It is on the market for $1.9M.  Scroll down for detailed data on the state of the market and the Open House list with links to the listings for Sunday.

We are starting to see by the statistics below that we are settling into a clear understanding of the market.  We are not seeing big jumps in the percentages one way or another.  We have a total of 582 active properties (single family, condos, and co-ops) for sale.  When you scroll all the way down the months on average section of the newsletter it shows us that we are dealing with two different markets.

This the first week we have stayed even in inventory.  However, do not get too excited as there were the private schools winter break this week.  Feel free to compare the numbers of month on average, the sold by price range percentages, and new listing vs. sold numbers with previous issues atwww.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

sold32213 

Last week there were ten sold properties.  Three of those properties were in the $1.5M-$2M range.  As seen in the graphs to follow that represented a two percent jump in the amount of properties sold year to date from 9% to 11%.

 

New Listings
newlistings32213
We As mentioned above the inventory stayed the same this week.  We are starting to see more properties change status from Active to AOCTS (Accepted Offer Continue To Show) and CCONTR (Contingent Contract).  We had 17 new listings over the last week, but it did not cause a increase in the inventory.

 

  
Year to Date Soldytdsold32213

 

 Year to date we have sold 110 properties.  The biggest increase came in the $1.5M-$2M range where it was 9% and now is 11%, which is a big increase for one week.
 
 
Year to Date Available
currentavailable32213  

 

I feel it is important to compare the two charts.  This chart is relatively unchanged.  A percentage point here or there, but realistically no changes worth noting.

 

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.  I have broken this down by June of 2012 (which is the high in my opinion) to January of 2013 (the low in my opinion) then will add each month as we come to them. 

  

As you can see below we are looking at two different markets in my mind.  The under $3M and the over $3M range.  If you look below the months on average more than doubles once you cross the $3M threshold.

 

Price Range 12-Jun 1/5/13 2/1/13 2/22/13 3/22/13
0-$500K 6.36 4.96 5.76 5.28 5.12
$500K-$1M 7.98 3.88 4.22 4.22 4.72
$1M-$1.5M 11.48 7.22 7.34 7.1 7.22
$1.5M-$2M 10.86 7 8.55 9.06 8.68
$2M-$3M 15.27 8.64 9.72 10.2 9.96
$3M-$4M 21.82 12.4 13.77 16.22 17.55
$4M-$5M 37.33 17.5 16.5 18.5 21.5
$5M-$7.5M 30.92 19.4 20.47 20.47 20.82
$7.5M-$10M 57 25.84 22.15 22.15 25.84
$10M+ 40.21 36 36.85 40.28 38.57
 

 

 

 

 **to calculate months on average I used the full year of 2012 sold properties in each price range

Obviously the months on average were the lowest at the end of the year.  The uncertainty of the fiscal cliff, as well as the election (most properties that closed in December were negotiated before election was finalized), and uncertainty of taxes.  Not to mention if people are going to take their house off of the market they will tend to do it over the holidays.

 

 

 

 

 

Open Houses March 24th
  
 

Below are all of the Greenwich Open Houses for Sunday.

 

 

 

Address Town List Price Time Broker
1465 East Putnam #216 Greenwich $375K 11-1 PM Coldwell Banker
4 Lafayette Court #1C Greenwich $425K 1-3 PM Coldwell Banker
2 Cary Road Riverside $449K 1-3 PM Coldwell Banker
50 Lafayette Place #3G Greenwich $499K 12-2 PM William Pitt
21 Carey Road Riverside $499K 1-3 PM Coldwell Banker
201 River Run Greenwich $562.5K 1-4 PM Prudential
14 Sound Beach Avenue Old Greenwich $599K 2-4 PM Raveis
27 Byram Terrace Drive Greenwich $639K 12-3 PM Raveis
98 Putnam Park Greenwich $669K 1-4 PM Raveis
2 Gerry Street Greenwich $729K 2-4 PM Raveis
62 Valley Road Cos Cob $750K 1-3 PM Raveis
69 Riverdale Ave #501 Greenwich $769K 2-4 PM Coldwell Banker
115 River Road #10 Cos Cob $775K 1-4 PM Prudential
70 Riverdale Ave #801 Greenwich $799K 2-4 PM Coldwell Banker
38 Breezemont Avenue Riverside $1.075M 1-4 PM Sotheby's
37 Ettl Lane Greenwich $1.175M 12-2 PM Sotheby's
35 E Lyon Farm Drive #35 Greenwich $1.195M 1-4 PM Coldwell Banker
71 Indian Harbor Drive Greenwich $1.275M 1-4 PM Raveis
19 Dickinson Road Stamford $1.35M 1-3 PM Prudential
130 Woodside Drive Greenwich $1.419M 2-4 PM Sotheby's
3 Fairfield Avenue Old Greenwich $1.477.777M 1-3 PM Raveis
55 Lockwood Avenue Old Greenwich $1.625M 1-4 PM Grnwch Cust RE
43 Stag Lane Greenwich $1.785M 2-4 PM Sotheby's
633 Steamboat Road #1 Greenwich $1.995M 1-3 PM Coldwell Banker
75 Harding Road Old Greenwich $2.05M 1-3 PM Coldwell Banker
108 Cutler Road Greenwich $2.195M 2-4 PM Sotheby's
10 Boyd Lane Riverside $2.25M 12:30-2:30 PM Coldwell Banker
11 Grimes Road Old Greenwich $2.495M 2-4 PM Coldwell Banker
18 Welwyn Road Riverside $2.495M 1-4 PM Prudential
9 Paddock Drive Greenwich $2.695M 2-4 PM Sotheby's
24 Marks Road Riverside $3.225M 2-4 PM Sotheby's
76 Cat Rock Road Cos Cob $3.295M 1-3 PM Coldwell Banker
6 Raymond Street Old Greenwich $3.295M 1-4 PM Raveis
24 Sunset Road Old Greenwich $3.35M 2-4 PM Sotheby's
1076 Lake Avenue Greenwich $3.495M 2-4 PM Coldwell Banker
124 Clapboard Ridge Greenwich $3.945M 2-4 PM Sotheby's
487 North Street Greenwich $5.495M 2-4 PM Coldwell Banker
12 Baldwin Farms South Greenwich $5.7M 2-4 PM Sotheby's
5 Fox Run Lane Greenwich $5.95M 2-4 PM Coldwell Banker
636 Riversville Road Greenwich $6.25M 2-4 PM Sotheby's

 

 

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%

3.539%

30 Year Fixed Agency  Jumbo

n/a

n/a

30 YR  Fixed Jumbo

3.750%

3.872%

5/1 YR ARM Conforming

2.125%

2.842%

5/1 YR ARM Jumbo

2.250%

2.864%

10/1 YR ARM Jumbo

3.000%

3.103%


Updated February 14, 2013

 

Article originally appeared on jaredrandall (http://www.greenwichrealestateguy.com/).
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