Greenwich, CT Residential Real Estate Blog and Analysis:
May 1st
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A weekly analysis brought to you by Greenwich Real Estate Guy.
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How did it already become May? The charts and graphs will be updated in two weeks. I doubt there will be many open houses next week. Who would be able to see homes when they are putting so much into pampering the mothers out there?
Pictured above is
36 Carrington Drive. Walking into this center hall colonial I was taken aback by the home. This is one you definitely want to peruse through the pictures. Immaculately cared for in every detail. The interior shows incredibly well, with impeccable taste and a nice flow throughout. The master suite is everything today's buyer is looking for. The lower level has a play room and a home theatre. A great pool and tennis court round out the amenities. The house sits on 2 acres and is priced at $1.975M. Greenwich address and phone with use of town amenities, and beach, with zoned for Stanford schools and Stanford taxes.
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
I genuinely appreciate all of the subscribers who have asked me to be their realtor as well as those who have 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
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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.
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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.
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Open Houses for May 3rd
One way of telling if the weather has changed is the amount of open houses. Below are the 67 Open Houses this Sunday.
Best,
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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.
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Jared Randall
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