Greenwich Real Estate Guy's Blog: January 31st Open House List and January Market Update

The Greenwich Real Estate Guy's Blog: January 31st Open House List

A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

I hope this post finds everyone's year off to a good start and on the way to a fulfilling year. As most readers can tell I try not to get too personal here. However, every now and then, I get impacted by something and feel it is necessary to share. For those of you who did not have the opportunity to listen to the country's first National Youth Poet Laureate Amanda Gorman speak, I felt it was worth sending. The 22 year old amazed me with her poem and oration. I hope you enjoy The Hill We Climb. The question I get asked most often is how is the market. Here is a little snapshot of the market as of January for all of Greenwich: 62 homes sold in January, an 88% increase over January 2020. Average DOM of homes sold in January was 163 days. Total $$ volume in January was $198,350,500 vs. $87,740,088 last January. Median prices rose 3.4% to $1,912,500. There are only 288 homes on the market in Greenwich, CT today, a 37% reduction over last year at this time. Demand remains high with 136 homes in contract, a 112% increase over last year. I was communication with a reader who had asked about whether his house or my house has gone up in value in the last year, last few months etc. It got me thinking and ran some analysis. As an estimate as every location and house is different this is where I believe homes stand vs different times in the last year, for Greenwich as a whole: Now vs. last year- approximately 3% increase in value Now vs. 9 months ago- approximately 5% increase in value Now vs. 6 months ago- approximately 2% increase in value Now vs 3 months ago- approximately 1% increase in value With the lack of inventory and the buyer demand increasing I believe these numbers will continue to increase. Remember that the first four months of last year the world came to a standstill so just about all of the increase has happened in last 6-8 months. The difficulty of writing a blog is how to give customized data for over 500 readers. That being said if you would like specific or customized data to your location or specific house please do not hesitate to email or call.

Open House List January 31st

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.   Feel free to 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