greenwich Real Estate Guy's Blog: November 29th Open House List and October Market Report

The Greenwich Real Estate Guy's Blog: November 29th Open House List A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

I hope everyone enjoyed a scaled down Thanksgiving with their loved ones. Below is the link for the open houses on Sunday. Factoid: Did you know that Greenwich (aka Tod’s) Point is 147.3 acres? More info on one of our premiere parks:https://www.greenwichct.gov/facilities/facility/details/Greenwich-Point-Park-69 Preliminary GMLS data show home sales in Greater Greenwich surging in October: 92 single family homes sold in October 2020 vs. 40 in October 2019, a 130% jump. Average home prices rose 61% to $3,248,375 Median home prices rose 28% to $2,412,500 Average sold price per square foot in October was $586, an 8% increase over October 2019. Total dollar volume in October 2020 was $298,850,500, up 271% from October 2019. The demand profile continues, as you'll note in the attached Houlihan Lawrence Market Overview report showing lower inventory and robust contract signings. Note: Some of these data will change as deals that closed late in the week get entered next week. My broker David Haffenreffer sent the following answers to questions he is hearing quite often: Frequently asked questions: Will the election on Tuesday change any of the home buying activity we're seeing locally? Not likely. Should a homeowner wait until the "Spring 2021 Market" to sell their home vs today? Market conditions suggest it's a very good time to sell a home in Greenwich today. While I expect demand to continue for the near future it's hard to say that March, for example, will be better than it is today. Are prices skyrocketing? Not as much as you'd think. In fact, we are still meeting with homeowners and suggesting price reductions on listings that aren't getting attention with buyers. The buyer pool is very large today but the buyers remain quite savvy and value oriented. Multiple bid situations appear reserved for the strategically priced homes....not ambitiously priced homes. ​ Shouldn't sellers list with a brokerage that has offices in NYC since the buyers are coming from there? Houlihan Lawrence represents more buyers than any​ other brokerage in Greenwich and has for nearly six years. We credit our great agents, beautiful listings, world-class customer service and cutting-edge marketing for our continued success in attracting our buyers.  Greenwich Market Report ConsumersAdvocate.org, recently published their mortgage rates guide and I thought it might be a good resource https://www.consumersadvocate.org/mortgage-rates. The guide provides a ton of helpful information such as a terminology section, a description of the different types, and even a step-by-step process from Day 1 to day done.

Open House List 11/29

If you're still on the fence about which mortgage lender to choose, check out this helpful guide from Money Magazine:  https://money.com/best-mortgage-lenders/. Whether you want to compare brands, take a look at market projections, or see how COVID-19 has affected the current market, they analyzed all of the key aspects of choosing a mortgage lender so that you can pick the best one for your specific needs. I have paid to allow clients to open up portals to see all listings as they come on the market real time to you, so feel free to  search properties based on your own parameters or set up a portal to get notifications on a customized search. For readers that just follow on the Greenwich Patch I will not be posting all entries on the patch. You can read all postings at www.greenwichrealestateguy.com/blog.    subscribe here to receive each post. Please do not hesitate to email (jrandall@houlihanlawrence.com) or call (203-273-1034) if I can assist in any way.    Best,                                                                                                                       Jared Randall                                                 Join my Mailing List  Houlihan Lawrence Greenwich                     Search Properties  www.greenwichrealestateguy.com           cell: 203-273-1034                      View My Website  email:  jrandall@houlihanlawrence.com     Like me on Facebook