Greenwich, CT Residential Real Estate Blog and Analysis:
April 10th
|
A weekly analysis brought to you by Greenwich Real Estate Guy.
|
 |
There will not be a newsletter next week as we will be vacationing in Jamaica. Pictured above is
268 Palmer Hill Road. This lovely home was designed by Steven Mueller and built in 2009. It sits on .47 of an acre and consists of 6,335 s.f. There are six bedrooms and four full baths, with one half bath as well. The aspects that jumped out to me was the flow. The kitchen opens up to a nice family area. The master suite has a walk-in closet and fireplace, with a great bathroom. The patio opens up to a great level yard. It is a stone's throw from North Mianus Elementary school. 268 Palmer Hill just came on the market on Wednesday and is priced at $2.75M.
When I came up with the idea for the blog it was to educate sellers and buyers of the market so that they can make more informed decisions. When I moved here, I felt I wanted more information at my fingertips. I realize that the featured property are only properties for sale, so thought I would list off the properties I have sold in the last twelve months, so readers can see what properties sell for as well. If you have any questions into these negotiations please do not hesitate to reach out.
71 Maher, Greenwich (buyer side sold private) $2.87M
71 Maher, Greenwich (seller side sold private) $2.87M
As I write these down I realize this is over $30M in the last twelve months. $30M for the year of 2014 would have put me #17 out of 1,300 realtors, which would be in the top 1.5%. I genuinely appreciate all of the subscribers who have used me and referred me to others. Thank you so much.
I have also included a link to the 1st Quarter Market Report my firm puts out for your review.
I have invested in my own MLS Search for my readers. This will give access to a lot of the listing information I have. Also, if I have already set you up with your personal portal, you will now be able to search your own searches outside of what I set up for you. Feel free to test out and search properties. I feel the best attribute is that you can save your own search and choose to get alerts as new properties come on to the market, properties are sold, or change in price. All specific to your customized search. Hence, you will speed up your learning curve, becoming an expert in the specific market you care about.
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
January was obviously disappointing. However, for how disappointing January was, February was promising. We had 52 total properties sell in the month of February. More than the last four years.
New Listings
The new listings for February were 95. This number is slightly less than the last three years.
|
|
Year to Date Sold
The value in these two charts are comparing the market of what is available vs. what has sold. Obviously, we are only one month in, so each transaction would have a more profound impact on each graph.
Year to Date Available
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. This one below is the amount of months on average to sell through our current inventory based on 2014 ytd sold numbers by price range.
| Price Range |
1/31/14 |
2/28/14 |
3/28/14 |
4/25/14 |
5/16/14 |
7/31/14 |
12/31/14 |
| 0-$500K |
10.2 |
6.0 |
7.0 |
6.1 |
5.5 |
5.6 |
3 |
| $500K-$1M |
9.7 |
8.6 |
9.0 |
8.7 |
8.6 |
5.2 |
3.7 |
| $1M-$1.5M |
5.5 |
9.5 |
8.9 |
10.3 |
7.8 |
6.4 |
4.4 |
| $1.5M-$2M |
8 |
14.5 |
13.6 |
18.4 |
17.8 |
11 |
6.7 |
| $2M-$3M |
4.7 |
9.2 |
11.6 |
14.3 |
14.2 |
11.1 |
7 |
| $3M-$4M |
11 |
13.1 |
11.8 |
14.2 |
14.5 |
10.4 |
9 |
| $4M-$5M |
11.9 |
8.9 |
13.1 |
14.4 |
22.1 |
17.7 |
18.4 |
| $5M-$7.5M |
20.7 |
32.0 |
39.5 |
59 |
56.6 |
32 |
25.1 |
| $7.5M-$10M |
n/a |
n/a |
71.5 |
51 |
31.5 |
59.5 |
21.6 |
| $10M+ |
22.4 |
27.2 |
42.0 |
22.7 |
33.8 |
29.9 |
35.2 |
| Price Range |
2/28/15 |
| 0-$500K |
4.5 |
| $500K-$1M |
6.3 |
| $1M-$1.5M |
4.8 |
| $1.5M-$2M |
6.9 |
| $2M-$3M |
10.1 |
| $3M-$4M |
31 |
| $4M-$5M |
54.3 |
| $5M-$7.5M |
49.1 |
| $7.5M-$10M |
20.4 |
| $10M+ |
41.7 |
This chart above is the months on average based on the amount sold so far this year. I feel it is a good comparison between 12/31/14 based on last year's numbers vs. currently using this year's activity to date. As you can see the market needs more inventory in under $3M range and continue to see improvement in the higher price ranges. Obviously, in times of lower inventory it dramatically changes the numbers.
|
Open Houses for April 12th
One way of telling if the weather has changed is the amount of open houses. We went from 25 a couple of weeks ago to 62 this Sunday. Come visit my open house at 40 Riverside Lane.
Best,
|
|
Mortgage Information
There are two individuals I feel most confident about when it comes to home mortgages. One in Manhattan and one in Greenwich. They are Jeff Ihrig of First Republic in Manhattan, and in Greenwich I prefer Treena David-Chirico of Wells Fargo NMLSR ID 404288.
Jeff can be reached at 646-372-5181. Treena's phone number is 203-618-3923. You can go to her website to input your specific information to receive rates. Her website is www.wfhm.com/treena-david-chirico.
|
|
Jared Randall
Reader Comments (1)
The information provided above is very useful as I am in the process of investing in two properties and have liked one in Greenwich, will soon take an advice from my legal experts and take further steps.