I started this blog/newsletter to help educate sellers and buyers about the market.  I believe one of the ways to do this is from time to time to have the feature property be a home that I sold so that I can provide insight.  The above colonial is located at 3 Byfield Lane.  I had the pleasure of representing the buyers in the transaction.  Numerous times I come across homes my clients are interested in that are in the AOCTS (Accepted Offer Continue to Show) status.  This house matched up with so many of my client's wants that we pushed to see the house if for no other reason to understand the price points when it did sell as there was an accepted offer on the property.  Two weeks later when the deal had fallen through, we were the first to get the call that it was coming back on the market.  The Saturday we saw the property there were six appointments, four of which who had seen the property before.  However, because of a few extra steps my clients and I took, we were able to differentiate ourselves into the seller's top choice.  We negotiated back and forth all day Monday, and by that Friday we were in contracts.  The property was listed for $2.195M and we were able to procure the property at a 93.3% sold to list price percentage.  The average in Greenwich year to date is 92.8%.  Even with all of the interest and multiple offers we were able to purchase at the average rate.  If you would like more specific information about this or any other properties please do not hesitate to call or email.

I want to thank a couple of you who reached out over the past two weeks in regards to some of the information you would like to see.  Based on those conversations, 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

I also toured 499 Indian Field Road, which is for sale for $190M, this past week.  It was a great experience capped by the basement where I stumbled across a room full of coal from years ago, that was used to heat the boiler as well as the laundry room flanked with drying racks for the clothes.  The acres of shoreline property, the grounds, and the private island, were breathtaking.  

The inventory grew again in the past two weeks.  We have 710 properties, 23 more than we did two weeks ago.  Twenty three is not a tremendous growth over two weeks and the fact that 19 of the 23 came in the 0-$1.5M range actually helped the market, as those are the ranges we need inventory the most.  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 at www.greenwichrealestateguy.com/blog.

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

   

As one can see from above we had a tremendous May in regards to sold properties.  We finished the month with 88 properties sold.  The last closest was 2011 where we had 70.  

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.  The past two weeks were actually positive for the overall market.  We had the inventory grow from 687 to 710.  However, most of that growth was in the zero to 1.5M range where we needed it.  In that range there are 19 more properties than there were two weeks ago.  Compared to the $1.5M-$5M range the inventory actually shrank by 2 properties.

Enjoy the Memorial Weekend.  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 the open house for my listing 30 Montgomery, so please come by and say hi if in the area.