Greenwich, CT Residential Blog and Analysis: January 29th-31st

Greenwich, CT Residential Real Estate Blog and Analysis:   January 29th-31st A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

Dear Followers, Pictured above is 18 Lexington Avenue Unit #B located in downtown Greenwich.  Just a couple of blocks of the shops, parks, and restaurants of Greenwich Avenue.  As you can see by reading below in the Q4 report and the year over year statistics, this is the market that has been the strongest in Greenwich over the past year.  The downtown condo market is where we are seeing downsizes as well as first time home buyers choose this option giving up the desire for land for the desire to have the conveniences of the train to NYC, parks, dinners out, and shopping without having to get in a car.  The above condo is 3 bedrooms 3 full baths and one half bath, is listed as having 3,064 s.f. and sits on .17 of an acre.  It was built in 2012 and has the feel of brand new construction when you are inside.  The list price is $2.395M. Houlihan Lawrence Q4 Greenwich Market Report Quick takeaways:  Total market transactions were up 1.9% year over year.  With the sales prices being up 3.5%.  However, that is a little deceiving as the condo market was incredible.  Condo units sold were up 15.8% while the average prices up 14%.  Single family homes in Greenwich transactions were down 1.3% and average prices down 1.2%. Houlihan Lawrence is the #1 brokerage serving Greenwich, Old Greenwich, Cos Cob and Riverside in 2015.  As a team we sold over $800M in property and I am very proud to be a part of such an elite team of agents as we look forward to 2016. Happy New Year.  Thank you for following the blog and subscribing to the newsletter.  When I came up with the idea for this blog I never thought it would have this far of a reach. There are over 1,100 agents in Greenwich.  When you include the four private or off market sales I did last year, I ranked in the top 3% of all Greenwich Realtors in total units sold as well as total dollar volume.  It means a lot that out of the many options out there you chose to work with me in such an important decision.  I wish you and your family a joyous 2016. Sampling of my 2015 Closings:   2 Oneida Drive Unit #B2      120 Pilgrim Drive      71 Maher Avenue sale side (Private deal)      71 Maher Avenue buy side (Private deal)      40 Riverside Lane   5 Lenox Drive (Multi Family but I feel more value as single)      184 Stanwich Road      34 Bruce Park Avenue #B      1535 East Putnam #301      50 Lafayette Place #2G      10 James Street (non GMLS and Bank Owned)      6 Lucy Street      1465 E. Putnam #530 If, you know anyone who is looking to buy or sale in Greenwich, please do not hesitate to send me their contact information.  I would be honored to help in anyway possible.  I have invested in my own MLS portal for individuals to set up their own custom searches.  This way people can follow their specific search by area, school, price point, lot size, s.f. etc.  Feel free to search properties.  For a customized search click the gray arrows and you can edit the fields.  For example, it is currently populated with all properties clicked.  You can just click Residential then click type, area, and price range, and you can see what is available in your specific price range. After you have narrowed the search to your liking you can click "save this search" and you can set up your own portal, and receive emails as new properties come available.  You can even track your favorites, and add notes or messages about properties.  If easier, feel free to just email me your parameters and I can set up a portal for you. 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     Year over year looks like we are up 6% in transactions.  However, if you look at the last six months of the year outside of a great September we were either stagnant or down a little.  The fall market was disappointingly slow.   New Listings We had slightly less listings in November than last year, and slightly more in December last year.  Year to Date Sold Looking at these two graphs as well as the months on average can really guide you on the markets in your price range.  As you can see the markets are a lot more competitive under $2M than over.   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 6/30/15 7/31/15 9/21/15 0-$500K 4.5 4 9.6 9.6 5.4 5.3 4.1 $500K-$1M 6.3 4.2 7.5 8.6 7.4 6.8 5.3 $1M-$1.5M 4.8 4.5 6 5.5 4 3.3 4.5 $1.5M-$2M 6.9 7 8.8 8.1 6.5 5.8 8 $2M-$3M 10.1 8 14 15 11.6 11.6 11.1 $3M-$4M 31 20.5 25.5 25.3 16.2 13.1 24.3 $4M-$5M 54.3 26.6 30.3 27.3 17.2 15.5 23.6 $5M-$7.5M 49.1 30.2 34.6 31.7 23.8 20.9 30.2 $7.5M-$10M 20.4 36 31.3 36.4 49.6 47 37.7 $10M+ 41.7 76.5 80.5 86 103.1 120.8 78 Open Houses for January 31st    There are 55 open homes this Sunday.  Realtors want to get traffic in as with the Superbowl next weekend there will not be a lot open. Street Name Area List Price Time Listing Office 39 Mallard Drive Greenwich $4.7K 11-3 p.m. Weichert 71 Orchard Place #A Greenwich $7.5K 1-3 p.m.  Davenport 12 Heusted Drive Old Greenwich $8K 1-3 p.m. Halstead 56 Milbank Avenue #2 Greenwich $17.95K 1-3 p.m. Coldwell Banker 169 Mason Street #4H Greenwich $365K 1-3 p.m. William Pitt Sotheby's 147 Putnam Park Greenwich $485K 1-3 p.m. Raveis 30 Almira Drive Greenwich $579K 1-4 p.m. Raveis 11 River Road #118 Cos Cob $629K 1-3 p.m. BHHS 66 Richland Road #3 Greenwich $689K 2-4 p.m. Coldwell Banker 100 Strickland #4 Cos Cob $699K 1-3 p.m. Coldwell Banker 100 Strickland #9 Cos Cob $699K 1-3 p.m. Houlihan Lawrence 51 Mary Lane Riverside $699K 1-3 p.m. Raveis 5 Glen Street #402 Greenwich $765K 12-2 p.m. Weichert 40 Cassidy Street Greenwich $785K 1-3 p.m. Raveis 22.5 Caroline Place Greenwich $825K 1-4 p.m. Raveis 46 Rockmere Avenue Old Greenwich $849K 1-3 p.m. Coldwell Banker 11 Old Kings Highway Old Greenwich $925K 12-2 p.m. Weichert 149 Holly Hill Greenwich $1.1559M 12-3 p.m. Scott Kadison 81 Angus Rd North Greenwich $1.249M 1-3 p.m. Coldwell Banker 12 Georgetowne N. Greenwich $1.25M 12-2 p.m. Coldwell Banker 72 Sound Beach Old Greenwich $1.295M 1-3 p.m. Raveis 15 Cat Rock Road Cos Cob $1.395M 1-3 p.m. Aysseh  150 Pemberwick Road Greenwich $1.46M 2-4 p.m. Houlihan Lawrence 15 Taylor Drive Cos Cob $1.595M 1-3 p.m. Raveis 71 Orchard Place #A Greenwich $1.65M 1-3 p.m. Davenport 2 Boxwood Lane Greenwich $1.695M 1-4 p.m. Douglas Elliman 451 Cognewaugh Cos Cob $1.725M 12-2 p.m. Sotheby's 24 Nutmeg Drive Greenwich $1.795M 1-3 p.m. BHHS 12 Heusted Drive Old Greenwich $1.795M 1-3 p.m. Halstead 12 Old Orchard Riverside $1.89M 1-3 p.m. Higgins 15 Dartmouth Road Cos Cob $1.945M 1-3 p.m. Sotheby's 300 Cognewaugh Cos Cob $1.975M 1-3 p.m. Douglas Elliman 380 Cognewaugh Cos Cob $1.995M 1-3 p.m. Raveis 10 Park Avenue Old Greenwich $1.9995M 1-3 p.m. Coldwell Banker 82 Butternut Hollow Greenwich $2.05M 2-4 p.m. Coldwell Banker 76 Summit Road Riverside $2.065M 1-3 p.m. Halstead 311 Cognewaugh Cos Cob $2.075M 12-2 p.m. Weichert 11 Pintail Lane Greenwich $2.15M 2-4 p.m. Houlihan Lawrence 11 Riversville Road Greenwich $2.295M 1-4 p.m. Douglas Elliman 215 Shore Road Greenwich $2.295M 2-4 p.m. Houlihan Lawrence 16 Roosevelt Avenue Old Greenwich $2.395M 1-3 p.m. Halstead 274 Palmer Hill Riverside $2.395M 2-4 p.m. Raveis 18 Lexington #B Greenwich $2.395M 2-4 p.m. Houlihan Lawrence 13 Perryridge Road Greenwich $2.635M 1-3 p.m. Houlihan Lawrence 443 North Street Greenwich $2.65M 1-3 p.m. Centric 1333 King Street Greenwich $2.7M 1-3 p.m. Coldwell Banker 14 Lockwood Avenue Old Greenwich $3.395M 1-3 p.m. Houlihan Lawrence 34 Lenox Drive Greenwich $3.495M 1-4 p.m. BHHS 294 Round Hill Greenwich $3.495M 1-3 p.m. Douglas Elliman 14 Long View Avenue Riverside $3.695M 2-4 p.m. Houlihan Lawrence 14 Sherwood Farm Greenwich $3.795M 1-4 p.m. Hasltead 56 Milbank Avenue #2 Greenwich $3.895M 1-3 p.m. Coldwell Banker 35 Winding Lane Greenwich $6.75M 2-4 p.m. Coldwell Banker 198 Shore Road Old Greenwich $6.8M 1-3 p.m. Halstead 15 Andrews Road Greenwich $8.77M 1-3 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             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.