Saturday
Aug152015
Greenwich CT, Residential Real Estate Blog and Analysis: August 14th
Jared Randall
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Saturday
Aug082015
Greenwich CT, Residential Real Estate Blog and Analysis: August 7th
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Greenwich, CT Residential Real Estate Blog and Analysis:
August 7th
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| A weekly analysis brought to you by Greenwich Real Estate Guy. |
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I have updated the neighborhood reports, and open house links. The July numbers will be updated next week.
The above pictured colonial at 10 West End Avenue in Old Greenwich came on the market two days ago. The home was built in 1892. There are many positive aspects of this home. First and foremost it is an oversized lot. It is listed as .53 of an acre in an R-12 zone, which is a quarter acre zone. The positive is that you can have a bigger home than lots that are in line with the quarter acre. This home is five bedrooms, three full baths and one half bath, consists of 3,176 s.f. It has been recently renovated and is ready for the next buyers to move in. Great play area for a backyard, with lots of space for running around. However, the best aspect is the proximity to the Old Greenwich Village and Old Greenwich Elementary. The price is $1.995M
As many of you know the idea of this blog was to help educate readers on their markets. That can become tough when there are so many different enclaves, neighborhoods, and sections in Greenwich. At lunch with a friend this week they mentioned picking a couple of specific areas to run queries for and discuss. I loved the idea so will be featuring one to two areas each week. Feel free to email me if you would like a specific area featured in the upcoming week. This week we will tackle the in-town Greenwich condo market and the Back Country market:
The in-town condo market is incredibly competitive currently. By clicking above you see that the amount of condo sales is up 82.1% ytd vs. this time last year, and up 54.2% year over year. The median sales price has risen from $845K to $1.25M, an increase of 47.9%. This is a great article that was in Bloomberg a couple of weeks ago, written by Oshrat Armiel:
Of the different areas within Greenwich, back country has been hit the hardest. However, if you look above you will see some promising numbers. For example last year at this time there had been 33 properties sold with 9 pending sales. This year, we have had 32 sell in the back country but we have 16 pending, which is a huge jump, and will really change the story in the next couple of months in my opinion. Looking at the numbers you see year over year we are down 11% in sales. However, the current market we see a decrease of 5% in inventory and pendings are up 77.8% with good activity. Understanding that year to date we have had 32 sales, to see that we have 16 pending, speaks volumes.
2nd Quarter Analysis
There are currently 676 properties for sale in Greenwich. Last year at this time there were 690 properties. When you look at the charts below you will see that we had an incredible June ending a great 2nd Quarter for the market. With the long winter we had this year, it seems a lot got pushed back and we had 131 closed properties in June. We have had 135 new listings come on in June, so will be interesting to see if this new inventory helps or hurts the market. The single family homes sold grew by 15% in the 2nd quarter over the last year, and the median price grew 9%. To see how much of an impact June had on the market scroll down to the months on average chart below. Please click on the below reports for more specific information. The Q2 report is exceptional and really dives into different sections of the community.
Q2 and June Reports for Markets
I have invested in my own MLS Search for my readers. This will give access to a lot of the listing information I have. Also, if I have already set you up with your personal portal, you will now be able to search your own searches outside of what I set up for you. Feel free to test out and search properties. I feel the best attribute is that you can save your own search and choose to get alerts as new properties come on to the market, properties are sold, or change in price. All specific to your customized search. Hence, you will speed up your learning curve, becoming an expert in the specific market you care about.
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
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Properties Sold
We As you can tell by the above graph. We have had a great two months. May and June really made up for a slower March and April and have pulled us ahead of last year's numbers. In June 131 properties sold compared to 101 in June of last year.
New Listings
 We had 135 new listings in June compared to 124 new listings last year. Thus demonstrating we are more competitive than last year. As we enter typically the slowest time of the year in the next two months I am intrigued to see if we can keep the momentum. |
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Year to Date Sold
Below is what I said last month. The inventory that hit the market in the lower numbers really help push the market. We had a 50% growth sold in the $500K-$1M market in June where that price range grew from 57 properties sold to 82 in just one month.
"We had a lot of inventory hit the market but it is in the right price ranges. The biggest jump was the $500K to $1M and the $2M-$3M ranges. We also had a great May in regards to closed properties." 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.
Notice the huge fall in the months on average to sell through the inventory. Everything had a dramatic drop in just one month, except for the over $7.5M range. This just shows how much June positively affected the market. Looking at these two charts really shows the market and the difference between last year. The numbers typically go up in April, as that is the month that the most amount of inventory hits the market. It is interesting to see this year's change in the months on average vs. the same time last year.
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Saturday
Aug012015
Greenwich CT, Residential Real Estate Blog and Analysis: July 31st
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Greenwich, CT Residential Real Estate Blog and Analysis:
July 31st
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| A weekly analysis brought to you by Greenwich Real Estate Guy. |
I typically only feature Greenwich properties. However, I came across the above pictured Southport Harbor country house located at 210 Sasco Hill Road. It has 330' of direct waterfront, the longest on the harbor and dock. I love the infinity pool that looks out the harbor. In addition to the pool, the house was custom designed and built in green mode around 2000. Beautiful maple floors throughout, with a conservatory, an eat-in kitchen, all with spectacular views. New master bedroom, with renovated his and hers bath with Carrara marble. The lower level is above grade, has a bedroom, full bath, exercise room, spa room, office and access to the main terrace and gardens. My favorite is that you can view exceptional sunsets and sunrises. The listing price is $6.695M.
As many of you know the idea of this blog was to help educate readers on their markets. That can become tough when there are so many different enclaves, neighborhoods, and sections in Greenwich. At lunch with a friend this week they mentioned picking a couple of specific areas to run queries for and discuss. I loved the idea so will be featuring one to two areas each week. Feel free to email me if you would like a specific area featured in the upcoming week. This week we will tackle Old Greenwich Elementary and Riverside Elementary districts.
Last year on July 31st there were 48 properties vs. 49. However, last year there were 17 pending deals compared to only 9 this year. In the hot $1M-$2M market there are only currently 4 homes for sale, where last year at this time there were 14. Conversely there are 9 over $6M currently with no pending deals, where at this time last year there were only 5 available with 2 pending deals. At this time last year there were 46 properties sold compared to 43 this year, down 6.5% from last year. The median price has dropped from $2.3M to $1.912M down 16.9%
Last year on July 31st there were 37 properties compared to 45 this year. One would think that would make it a more difficult market. However, last year at this time there were 9 pendings currently we have 16 pendings. Also, all 16 pendings under $4M where as last year two of the nine pendings were above $4M. There have been 51 sold properties ytd vs. 41 last year at this date, that is up 24.4% from last year. Also, the median price has gone from $2.25M to $2.3M up 3.4%.
2nd Quarter Analysis
There are currently 676 properties for sale in Greenwich. Last year at this time there were 690 properties. When you look at the charts below you will see that we had an incredible June ending a great 2nd Quarter for the market. With the long winter we had this year, it seems a lot got pushed back and we had 131 closed properties in June. We have had 135 new listings come on in June, so will be interesting to see if this new inventory helps or hurts the market. The single family homes sold grew by 15% in the 2nd quarter over the last year, and the median price grew 9%. To see how much of an impact June had on the market scroll down to the months on average chart below. Please click on the below reports for more specific information. The Q2 report is exceptional and really dives into different sections of the community.
Q2 and June Reports for Markets
I have invested in my own MLS Search for my readers. This will give access to a lot of the listing information I have. Also, if I have already set you up with your personal portal, you will now be able to search your own searches outside of what I set up for you. Feel free to test out and search properties. I feel the best attribute is that you can save your own search and choose to get alerts as new properties come on to the market, properties are sold, or change in price. All specific to your customized search. Hence, you will speed up your learning curve, becoming an expert in the specific market you care about.
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
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.
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Friday
Jul172015
Greenwich CT, Residential Real Estate Blog and Analysis: July 17th Second Quarter Report
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Saturday
Jul112015
Greenwich CT, Residential Real Estate Blog and Analysis: July 10th
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When I lived in California, my wife had a business trip to NYC. I tagged along and met a friend of mine that lived in New York, for my first trip to Madison Square Garden. At that point living in California for my whole life, I had always wanted to see a Knicks game at MSG. In March of 2003, my buddy and I went and saw the Knicks play the Bucks. Allan Houston put on a show and scored 50 points. Twelve years later I still remember the night and look back on it as one of the great sports experiences I have witnessed. This past week I had the privilege of touring the above pictured home owned by Allan Houston located at 17 Cowdray Park Drive. The house boasts 19,387 s.f. and sits in the exclusive Conyer Farms community. The 10.29 acres sit adjacent to the Conyers Lake, with easy access for swimming, canning, playing etc. The home itself has 26 rooms with six bedrooms and ten baths. The amenities do not stop, there is a trophy room, a lower level with a basketball court, and a gym. There is a heated pool, sauna, and spa. Off of the side of the house is a tee box, with a putting green down below it, with a sand trap adjacent to the green. The estate is currently listed for $19.9M.
Thank you to all of the new subscribers as of late. Above is the featured property I choose each week. Below are monthly reports, a link to set up your own queries and searches, charts and graphs on what I feel are the most important gauges of the market, and the open house list with links for Sundays. Please do not hesitate to reach out if you would like to view the featured property, or any other properties. Also, I would be happy to give an evaluation of your house, or run any analysis for you. My cell is 203-273-1034 and email is jrandall@houlihanlawrence.com. For past newsletters feel free to visit www.greenwichrealestateguy.com/blog.
I am still working on the analysis of the 2nd quarter. However, it was a very positive quarter, and will have the details next week. Here is the link to the 1st Quarter Market Report my firm puts out for your review.
Below are the May reports Houlihan Lawrence puts out:
I have invested in my own MLS Search for my readers. This will give access to a lot of the listing information I have. Also, if I have already set you up with your personal portal, you will now be able to search your own searches outside of what I set up for you. Feel free to test out and search properties. I feel the best attribute is that you can save your own search and choose to get alerts as new properties come on to the market, properties are sold, or change in price. All specific to your customized search. Hence, you will speed up your learning curve, becoming an expert in the specific market you care about.
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
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Properties Sold
We had a great May with 91 properties close. That matched 2013 as the highest May in the last several years.
New Listings
 We had 181 new properties listed in Greenwich in May which is impressive and outdid April of this year, which we rarely see. We will see if the demand is there to help push the market into the Spring. |
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Year to Date Sold
As mentioned in the first section this past month was a really good month based on the numbers. We had a lot of inventory hit the market but it is in the right price ranges. The biggest jump was the $500K to $1M and the $2M-$3M ranges. We also had a great May in regards to closed properties. 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.
Looking at these two charts really shows the market and the difference between last year. The numbers typically go up in April, as that is the month that the most amount of inventory hits the market. It is interesting to see this year's change in the months on average vs. the same time last year. Open Houses for July 10th
Below are the 62 open houses on Sunday.
Best,
Jared Randall Join my Mailing List
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