The above property is located at 20 West End Avenue in Old Greenwich.  If you do not usually open the link of the featured property, I suggest you do on this house.  It was refreshing to see the unique style of this home.  It is listed as a Shore Colonial but I do not think it does it justice.  Walking up it reminded me of an old plantation home.  However, it was just built and every amenity was looked after.  The back patio makes you feel like you are at a cabana of a luxury resort complete with outdoor shower, television, and bbq.  I could imagine enjoying it all summer long, as well as sitting out under the covered cabana watching the first snow fall of the season.  Inside the home are five bedrooms with five and two one half baths.  Every room has a deck.  The kitchen is second to none equipped with top of the line appliances and topped off with a television that rises up out of the island so you can be kept abreast of the news while cooking and entertaining.  The best part is the location.  The house is half of a block from downtown Old Greenwich.  The price is $4.189M.  I wanted to take the opportunity to thank Olivia Just.  She is a reporter from Greenwich Time that when writing an article about a new real estate company moving into Greenwich came across the blog and called for my opinion on the Greenwich Real Estate Market.  You can find the article here; Westchester's Houlihan Lawrence comes to Greenwich.

This week we had 48 new properties and 14 sold properties bringing the total inventory up to 627.  The fall market has officially begun.  The inventory grew for the first time in a while.  Also, we have forty open houses this Sunday.  I have updated the links.  I am keeping the analysis up from last week as it was a holiday weekend with a lot of individuals on vacation:

We have discussed that we had an incredible July.  It looks like August was just as good, if not better.  In August of 2012, there were 77 properties sold, this month we have had 94 properties sell.  That is a 22% growth.  If we take a three month spectrum, we had 252 properties sell in June through August of 2012.  This year we had 315 properties sell, which is a 25% growth.  In my June 7thblog (can be found at www.greenwichrealestateguy.com/blog) we had 716 total properties for sale.  Today we have 611. That is a 15% decrease of inventory in just the past two months.  

So, as one can see the overall market is drastically improving.  The only concern then would be the higher priced market.  When looking at the 94 properties that sold in August we only had four that sold for over $4M.  Year to date, we have only had one property sell for over $10M.  However, we currently have seven properties in Executed Contract with Listing Prices over $10M.  Again, showing that the ultimate luxury market is bouncing back as well.

A friend of mine has started a Greenwich Parent List.  Coming from Park Slope we belonged to a Parents of Twins Group in Brooklyn and a Park Slope parents group.  I found it very informational, a great place to ask advice or find interesting items.  Moving to Greenwich, I wished there was such a site here, and now there is.  Click on the link to check out; Greenwich Parent List.

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 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. 

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

This chart says it all in my opinion.  Look at the last five months and you can see the amount of movement compared to other months over the past few years.  The big jump in June of 2011 was due to the changes in transfer taxes.  As well as the big jump in December of 2012 was due to the fiscal cliff.  If you take those two months out, you can see just how amazing of a run we have had over the past five months.  I personally do believe that the end of August is when there is a strain on inventory as a lot of people take their homes off the market while on vacation etc.  I believe we will see a lot of inventory come on the market in the next three weeks.  I am intrigued to see if we get up to that 716 mark we had in June.

New Listings

We only had 45 new properties in August.  With, selling 94 properties it was a much needed decline in inventory.  Also, worth noting that it was the lowest August in new inventory in the four years.