We have had a lot of new subscribers to the newsletter over the last couple of months.  Hence, I am featuring my listing at 30 Montgomery Lane.  This home is all about location.  It takes me eight minutes to drive to the Whole Foods and the top of Greenwich Avenue from this house. The house is in the North Street Elementary district.  It sits on 1.44 acres of land and is located on a cul-de-sac off of Stanwich Road in the historic Wild Acres, which was owned by the Montgomery's.  One of the most beautiful aspects is that at the end of the cul-de-sac is the entrance to the Montgomery Pinetum Park.  This park is a 91 acres of walking trails, nature, and contains the Greenwich Garden Center.  The house was expanded and renovated in 1994, with the walk out Au-Pair Suite renovated last year.  There are 5 bedrooms, with four, and one half baths.  There are 4,470 s.f. of living space including a basement with a beautiful fireplace and kitchenette.

I also wanted to take the opportunity today to discuss the market.  If you have read the analysis part of the newsletter you see there are two different distinct markets in Greenwich currently.  The under $2M market and the over $2M market.  I always say the market is as simple as supply and demand.  If we look at just a month ago.  Week ending April 12th we had 123 properties under $1M on the market.  Today we have 120 properties under $1M.  While the $2M-$3M range week ending April 12th we had 91 properties and in the $3M-$4M range we had 80 homes on the market.  Today we have 117 in the $2M-$3M range and 10 in the $3M-$4M range.  Hence, we have declined in the under $1M range and have grown 27% inventory in just the last month in the $2M-$4M range.  This tells me that now is a great time to move price ranges.  If you can sell your house and buy in a higher price range now is the time to do so.  Also, for the buyers out there, I have closed three deals in the last six months that have had multiple offers.  I strongly believe there are ways to make yourself more appealing to the sellers than overpaying.  In all three instances the buyers I represented either had the same offer or a less appealing offer than other bidders and my clients got the house each time.  I believe it is important to be creative when dealing with multiple offers.

 For fun, we also had a $190 Million dollar property come on the market.  Yes, that is correct, not a typo.  Here is the link of 499 Indian Field Road.

The inventory grew again in the past two weeks.  We have 687 properties, 23 more than we did two weeks ago.  Twenty three is not a tremendous growth over two weeks and was helped by the fact we had 50 properties sold over the past two weeks.  We also had 100 new properties added to the market over the past two weeks.  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

   

Continuing the trend we saw in April, we have had a great couple of weeks of May as we have had 54 properties sell so far in May.  Whereas, last year we only had 62 sell for the whole month.

New Listings

We have to balance the sold properties with the inventory.  I believe the true indicator of the market will always come down to supply vs. the demand.  Again, as seen above continuing the trend we are seeing more inventory come into the market than in past years.  We have had 100 new listings so far this month.  Whereas, we had 120 in all of May in 2011.

Below are all of the Greenwich Open Houses for Sunday.  Thank you to Rob Pulitano for sending me the list of open houses so I can add the links.  I will be at 87 Perkins Road on Sunday from 1-4 p.m. so please come by and introduce yourself.