Greenwich CT, Residential Real Estate Blog and Analysis: July 10th

Greenwich, CT Residential Real Estate Blog and Analysis:   July 10th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com 17 Cowdray Park Drive

When I lived in California, my wife had a business trip to NYC.  I tagged along and met a friend of mine that lived in New York, for my first trip to Madison Square Garden.  At that point living in California for my whole life, I had always wanted to see a Knicks game at MSG.  In March of 2003, my buddy and I went and saw the Knicks play the Bucks.  Allan Houston put on a show and scored 50 points.  Twelve years later I still remember the night and look back on it as one of the great sports experiences I have witnessed.  This past week I had the privilege of touring the above pictured home owned by Allan Houston located at 17 Cowdray Park Drive.  The house boasts 19,387 s.f. and sits in the exclusive Conyer Farms community.  The 10.29 acres sit adjacent to the Conyers Lake, with easy access for swimming, canning,  playing etc.  The home itself has 26 rooms with six bedrooms and ten baths.  The amenities do not stop, there is a trophy room, a lower level with a basketball court, and a gym.  There is a heated pool, sauna, and spa.  Off of the side of the house is a tee box, with a putting green down below it, with a sand trap adjacent to the green.  The estate is currently listed for $19.9M.

Thank you to all of the new subscribers as of late.  Above is the featured property I choose each week.  Below are monthly reports, a link to set up your own queries and searches,  charts and graphs on what I feel are the most important gauges of the market, and the open house list with links for Sundays.  Please do not hesitate to reach out if you would like to view the featured property, or any other properties.  Also, I would be happy to give an evaluation of your house, or run any analysis for you.  My cell is 203-273-1034 and email is jrandall@houlihanlawrence.com. For past newsletters feel free to visit www.greenwichrealestateguy.com/blog.

I am still working on the analysis of the 2nd quarter.  However, it was a very positive quarter, and will have the details next week. Here is the link to the 1st Quarter Market Report my firm puts out for your review.

1st Quarter Report

Below are the May reports Houlihan Lawrence puts out:

May Greater Greenwich Report

May Old Greenwich Report

May Riverside Report

May Cos Cob Report

May Greenwich 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   We had a great May with 91 properties close.  That matched 2013 as the highest May in the last several years. New Listings We had 181 new properties listed in Greenwich in May which is impressive and outdid April of this year, which we rarely see.  We will see if the demand is there to help push the market into the Spring.

Year to Date Sold As mentioned in the first section this past month was a really good month based on the numbers.  We had a lot of inventory hit the market but it is in the right price ranges.  The biggest jump was the $500K to $1M and the $2M-$3M ranges.  We also had a great May in regards to closed properties.   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.  The first chart is the 2014 inventory vs. sold numbers.  The second chart is inventory today vs. sold properties.   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 4/30/15 5/31/15 0-$500K 4.5 4 9.6 9.6 $500K-$1M 6.3 4.2 7.5 8.6 $1M-$1.5M 4.8 4.5 6 5.5 $1.5M-$2M 6.9 7 8.8 8.1 $2M-$3M 10.1 8 14 15 $3M-$4M 31 20.5 25.5 25.3 $4M-$5M 54.3 26.6 30.3 27.3 $5M-$7.5M 49.1 30.2 34.6 31.7 $7.5M-$10M 20.4 36 31.3 36.4 $10M+ 41.7 76.5 80.5 86 Looking at these two charts really shows the market and the difference between last year.  The numbers typically go up in April, as that is the month that the most amount of inventory hits the market.  It is interesting to see this year's change in the months on average vs. the same time last year. Open Houses for July 10th    Below are the 62 open houses on Sunday.   Street Name Area List Price Time Listing Office 7 Brookside Park Old Greenwich $5.3K 2-4 p.m. RE/MAX 298 Sound Beach Old Greenwich $7.8K 1-3 p.m.  Raveis 37 Mianus View Cos Cob $8.5K 1-4 p.m. BHHS 95 Stanwich Road Greenwich $14.5K 1-4  p.m. Raveis 1465 E Putnam #119 Old Greenwich $429.9K 1-3 p.m. Raveis 147 Putnam Park Greenwich $485K 1-4  p.m. Raveis 10 Hollow Wood #A Greenwich $489.5K 1-3 p.m. The Relocation Group 7 River Road #305 Cos Cob $625K 12-3 p.m. Douglas Elliman of CT 17 Pilgrim Drive Greenwich $715K 1-3 p.m. Coldwell Banker 14 Ritch Avenue Greenwich $734K 1-3 p.m. Weichert 434 Valley Road Cos Cob $785K 1-3 p.m. Coldwell Banker 7 Brookside Park Old Greenwich $799K 2-4 p.m. RE/MAX 22 Wescott Street Riverside $825K 2-4 p.m. Houlihan Lawrence 9 Ferris Drive Old Greenwich $825K 1-3 p.m. William Pitt Sotheby's 18 Licata Terrace Cos Cob $899K 1-3 p.m. Raveis 35 Center Drive Old Greenwich $945K 1-3 p.m. Halstead 259 Bruce Park Greenwich $950K 2-4 p.m. Coldwell Banker 10 Licata Terrace Cos Cob $975K 1-3 p.m. Keller Williams 265 Pemberwick Greenwich $985K 1-4  p.m. Raveis 84 Cognewaugh Cos Cob $1.099M 1-4  p.m. BHHS 51 Circle Drive Greenwich $1.195M 2-4 p.m. Coldwell Banker 17 Tory Road Riverside $1.225M 2-4 p.m. Houlihan Lawrence 2 Highview Avenue Old Greenwich $1.299M 1-3 p.m. Coldwell Banker 7 Chapel Lane Riverside $1.395M 2-4 p.m. Houlihan Lawrence 45 William Street #A Greenwich $1.545M 1-4  p.m. BHHS 24 Shore Road Old Greenwich $1.695M 2-4 p.m. David Ogilvy 13 Wilmot Lane Riverside $1.695M 12-2 p.m. Coldwell Banker 0 Doubling Road Greenwich $1.695M 10-12 p.m. Sotheby's 6 Carriage Road Cos Cob $1.775M 1-3 p.m. Coldwell Banker 298 Sound Beach Old Greenwich $1.8M 1-3 p.m. Raveis 108 Glenville Road Greenwich $1.84M 12:30-2 p.m. DMK 29 Coventry Lane Riverside $1.849M 2-4 p.m. Coldwell Banker 48 Locust Road Greenwich $1.85M 1-4  p.m. David Ogilvy 37 Mianus View Cos Cob $1.895M 1-4  p.m. BHHS 69 Mallard Drive Greenwich $1.995M 1-3 p.m. Sotheby's 10 Park Avenue Old Greenwich $1.999M 1-3 p.m. Coldwell Banker 2 Grimes Road Old Greenwich $2.175M 2-4 p.m. Houlihan Lawrence 76 Summit Road Riverside $2.25M 1-4  p.m. Halstead 11 Pintail Lane Greenwich $2.35M 12-2 p.m. Houlihan Lawrence 505 Putnam Avenue Greenwich $2.49M 1-4  p.m. Douglas Elliman of CT 268 Palmer Hill Riverside $2.595M 1-3 p.m. Houlihan Lawrence 33 Pleasant Street Riverside $2.6M 1-4  p.m. BHHS 26 Tomac Avenue Old Greenwich $2.75M 2-4 p.m. Coldwell Banker 1 Reynwood Manor Greenwich $2.999M 1-3 p.m. Coldwell Banker 124 Birch Lane Greenwich $3.245M 2-4 p.m. Coldwell Banker 95 Stanwich Road Greenwich $3.495M 1-4  p.m. Raveis 21 Pecksland Road Greenwich $3.575M 1-3 p.m. Sotheby's 70 Sherwood Ave Greenwich $3.775M 1-4  p.m. Coldwell Banker 8 Dearfield Drive Greenwich $3.825M 2-4 p.m. Raveis 14 Sherwood Farm Greenwich $3.995M 1-4  p.m. Halstead 400 Stanwich Road Greenwich $4.15M 2-4 p.m. Coldwell Banker 3 Gisborne Place Old Greenwich $4.295M 2-4 p.m. Coldwell Banker 524 North Street Greenwich $4.477M 1-4  p.m. BHHS 0 Doubling Road Greenwich $4.495M 10-12 p.m. Sotheby's 26 Stillman Lane Greenwich $4.5M 1:30-4:30 Coldwell Banker 1 Ashton Drive Greenwich $4.6M 12-3 p.m. Coldwell Banker 851 Lake Avenue Greenwich $4.85M 1-4  p.m. BHHS 24 Lower Cross Greenwich $5.75M 1-3 p.m. Halstead 6 Andrews Farm Greenwich $5.8M 1-3 p.m. Coldwell Banker 198 Shore Road Old Greenwich $6.8M 3-5 p.m. Halstead 35 Winding Lane Greenwich $6.995M 2-4 p.m. Coldwell Banker 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