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I would like to apologize for the delay in getting this out as well as the new format. Unfortunately, Constant Contact has changed their formatting and I can no longer do the spreadsheet with the links. The only workaround I have figured out took five times as long to do. I will continue to work with them and see if I can get back to the old version or have them accept spreadsheets. In the meantime please click on the button below that says Open House List and that should pull up a PDF that will have the links in it. I apologize for the inconvenience.
Pictured above is 11 Turner Drive. This home is listed as six bedrooms, six full baths, with two half baths. It sits on 1.04 of an acre and is listred as 9,185 s.f. The price is $5.845M and the open house on Sunday is from 1-3 p.m.
Sensational new 6 bedroom home presides over beautifully landscaped, level 1+ acres with pool, spa, terrace and firepit in private Calhoun Drive Association near town. Thoughtful design consideration & meticulous attention to detail are the hallmarks of the award winning builder & architect. Built using optimal sunlight & understanding the importance of indoor/outdoor experiences & smart use of space, this home provides modern delights;chef's kitchen w/adjacent family room, lofty ceilings, optimal storage solutions, smart home technology & high-efficiency systems. Features:Dramatic double height entry hall w/handsome steel railing staircase, master suite sanctuary, 5 additional en-suite bedrooms, playroom, exercise room, media room & 3-4 car garage. For the buyer who demands only the best!
My broker sent this information out on the Old Greenwich School district market report:
Since many people are heading to Tod’s Point to soak up this bonus weather I thought I send along some info on the market in the Old Greenwich School district:
- Home sales here are +5% (town wide home sales are +51%)
- Prices in OGS are +19% at $2.55M (town wide median prices are +11% at $2,112,500)
- Inventory here is -28% while town wide inventory is -25%.
- Pending deals in OGS district are flat (town wide pendings are +135%)
Other Old Greenwich School district data points include:
- Average sold price per square foot this year is $700/psf
- It takes, on average, 143 days to sell a home here.
- On average, homes are selling at 96% of last asking price.
See attached market overviews. I would guess the reason OGS is underperforming the town as a whole has more to do with a lack of inventory for buyers and higher prices than anything else.
Houlihan Lawrence is the #1 brokerage in this geography with a market share that is approx. 2x our nearest competitor. Awesome! Thank you! See attached Market Share report.
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.
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Jared Randall
