I have been in negotiations on an off market home last evening and this morning, coupled with appointments I have today, I was not able to input the links in the spreadsheet. Pictured above is 175 Riverside Avenue. The home contains five bedrooms, three full baths and one half bath. The open house is from 1-3 p.m.
Exceptionally updated home in adored Riverside neighborhood. Walking distance to train, town, schools & club. No space was spared updating! Newly finished hardwood floors & new ADT security system, fresh paint & RH light fixtures. Large & bright formal living and dining room lead to the kitchen w/ granite counters, top of the line Eurolux appliances & peninsula w/ bar seating. Expansive family room & breakfast nook is adjourned by wall of windows & skylights. Entertainer's dream backyard includes new wraparound flagstone patio. Den has a FP w/ 2nd flue for pizza making/cooking! The mudroom off the garage is flanked by a first floor bedroom, office, & full bath. Spa-like master suite has french doors to private deck, lavish bath w/ marble floor & counters, free standing tub, & glass shower.
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.
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