Greenwich CT, Residential Real Estate Blog and Analysis: April 24th

Greenwich, CT Residential Real Estate Blog and Analysis:   April 24th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

The above pictured colonial is located in the heart of Riverside at33 Hendrie Avenue.  Just a stone's throw from Riverside Elementary and Eastern Middle School, the house is set back from the road behind the fieldstone walls creating a grand front yard and curved driveway that welcomes you.  Personally I love the charm of turn of the century homes.  This has the balance of keeping that charm with top of the line renovations by renowned Architect Louise Brooks.  I loved the master suite of this house.  His and her walk in closets, with a nice sitting room for reading, as well as an exceptional master bath.  The six bedroom four and one half baths home is listed as 5,061 s.f.  There will be an open house here from 1-3 p.m. on Sunday. The list price is $3.695M. 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. 29 Wesskum Wood, Riverside                        $2.55M 10 Palmer Terrace, Riverside                          $2.15 107 Patterson Avenue, Greenwich                 $4.9M 30 North Street, Greenwich (sold private)       $4.85M 10 Maher Avenue, Greenwich                         $1.882M 1465 E. Putnam #530, Old Greenwich             $368K 6 Lucy Street, Greenwich                                 $575K 50 Lafayette Place #4G, Greenwich                 $440K 8 Cliff Road, Greenwich (sold private)              $1.75M 34 Bruce Park #B, Greenwich                           $2.5375M 71 Maher, Greenwich (buyer side sold private)  $2.87M 71 Maher, Greenwich (seller side sold private)   $2.87M 184 Stanwich, Greenwich                                   $2.8M 10 James Street, Greenwich (bank owned)        $685K 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. 1st Quarter Report     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 the 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 3/30/15 0-$500K 4.5 4 $500K-$1M 6.3 4.2 $1M-$1.5M 4.8 4.5 $1.5M-$2M 6.9 7 $2M-$3M 10.1 8 $3M-$4M 31 20.5 $4M-$5M 54.3 26.6 $5M-$7.5M 49.1 30.2 $7.5M-$10M 20.4 36 $10M+ 41.7 76.5 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 26th    One way of telling if the weather has changed is the amount of open houses.  Below are the 59 Open Houses this Sunday.  Come visit me at 40 Riverside Lane, I will be there from 1-4 p.m. Street Name Area List Price Time Listing Office 13 Hickory Drive Greenwich $4.35K 1-4 p.m. Raveis 70 Riverdale #1001 Greenwich $4.5K 2-4 p.m. Houlihan Lawrence 16 Mackenzie Glen Greenwich $8K 2-4 p.m. Raveis 633 Steamboat Greenwich $8.5K 1-4 p.m. BHHS 40 RIVERSIDE LANE Riverside $9K 1-4 p.m. Houlihan Lawrence 17 Lincoln Avenue Greenwich $9.2K 1-4 p.m. Sotheby's 30 Edgewood #A Greenwich $600K 1-4 p.m. Coldwell Banker 30 Edgewood #B Greenwich $625K 1-4 p.m. Coldwell Banker 10 Cary Road Riverside $735K 1-3 p.m. Coldwell Banker 6 Caroline Farms #4 Cos Cob $749K 1-4 p.m. Douglas Elliman 106 Putnam Park Greenwich $785K 2-4 p.m. Laurel 70 Riverdale #1001 Greenwich $789K 2-4 p.m. Houlihan Lawrence 7 Brookside Park Old Greenwich $899K 1-4 p.m. RE/MAX 13 Hickory Drive Greenwich $899.5K 1-4 p.m. Raveis 42 Ridge Street Cos Cob $975K 1-4 p.m. Raveis 172 Field Point #9 Greenwich $985K 1-3 p.m. Raveis 23 Center Drive Old Greenwich $1.025M 1-3 p.m. Halstead 39 Halsey Drive Old Greenwich $1.195M 1-3 p.m. Sotheby's 31 Orchard Street Cos Cob $1.2M 2-4 p.m. Houlihan Lawrence 30 Edgewood Greenwich $1.225M 1-4 p.m. Coldwell Banker 51 Benjamin Street Old Greenwich $1.25M 1-3 p.m. Raveis 21 Indian Mill Road Cos Cob $1.395M 2-4 p.m. David Ogilvy 61 Gregory Road Cos Cob $1.395M 2-4 p.m. Raveis 633 Steamboat #1 Greenwich $1.45M 1-4 p.m. BHHS 30 Stag Lane Greenwich $1.499M 1-3:30 p.m. Real Living 15 Ferncliff Road Cos Cob $1.59M 1-3 p.m. Coldwell Banker 16 Mackenzie Glen Greenwich $1.699M 2-4 p.m. Raveis 15 Fairgreen Lane Old Greenwich $1.795M 2:30-4:30 p.m. Houlihan Lawrence 83 Summit Road Riverside $1.925M 1-4 p.m. Raveis 2 Finney Knoll Riverside $1.949M 1-3 p.m. Coldwell Banker 233 Milbank-5 Greenwich $1.95M 1-3 p.m. Houlihan Lawrence 40 RIVERSIDE LANE Riverside $1.95M 1-4 p.m. Houlihan Lawrence 17 Park Avenue Old Greenwich $1.99M 2-4 p.m. BHHS 233-1 Milbank Greenwich $2.05M 1-3 p.m. Houlihan Lawrence 27 Ballwood Road Old Greenwich $2.095M 2-4 p.m. Houlihan Lawrence 29 Old Wagon Old Greenwich $2.175M 1-4 p.m. Raveis 16 Crescent Road Riverside $2.195M 1-4 p.m. Coldwell Banker 270 Palmer Hill Road Riverside $2.25M 1-4 p.m. Coldwell Banker 10 Park Avenue Old Greenwich $2.299M 1-4 p.m. Coldwell Banker 69 Mallard Drive Greenwich $2.375M 2-4 p.m. Sotheby's 2 Boxwood Lane Greenwich $2.395M 1-3 p.m. Raveis 119 Doubling Road Greenwich $2.495M 1-4 p.m. Raveis 17 Lincoln Avenue Greenwich $2.599M 1-4 p.m. Sotheby's 272 Palmer Hill Road Riverside $2.65M 1-4 p.m. Greenwich Land 36 Riversville Road Greenwich $2.695M 1-3 p.m. Raveis 11 Red Coat Lane Greenwich $2.75M 1-3 p.m. Sotheby's 39 Midbrook Lane Old Greenwich $3.1M 1-4 p.m. Raveis 30 Burning Tree Greenwich $3.295M 1-3p.m. Raveis 50 Lockwood Ave Old Greenwich $3.495M 10-12:30 Raveis 150 Riverside Ave Riverside $3.495M 2-4 p.m. Sotheby's 31 Owenoke Way Riverside $4.095M 1-3 p.m. BHHS 58 Ridge Street Greenwich $4.15M 1-3 p.m. Sotheby's 21 Walsh Lane Greenwich $4.195M 1-3 p.m. BHHS 56 Milbank #2 Greenwich $4.25M 1-3 p.m. Coldwell Banker 10 Esther Place Old Greenwich $4.295M 1-3 p.m. Houlihan Lawrence 591 Round Hill Greenwich $5.499M 1-4 p.m. Raveis 20 Langhorne Lane Greenwich $5.895M 1-4 p.m. Raveis 36 Perkins Road Greenwich $5.959M 12-2 p.m. Sotheby's Best,                                                                                                                                                         Jared Randall                                                 Join my Mailing List Houlihan Lawrence Greenwich                     Search Properties www.greenwichrealestateguy.com                Forward to a Friend cell:  203-273-1034                                         View My Website email:  jrandall@houlihanlawrence.com     Like me on Facebook            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.