Greenwich, CT Residential Real Estate Blog and Analysis: 2014 Year in Review

Greenwich, CT Residential Real Estate Blog and Analysis:   2014 Year in Review A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

When looking at 2014 as a whole it was a very surprising year.  We finished 2013 with a flurry of activity and started 2014 with that activity.  The year as a whole however ended up 6.2% down in total transactions.  However, the average sales price was up 19.8%.  The median sale price was up 11.1%.  Even the average price per square foot was up 9.9%. When looking at all of this data we get a clearer picture.  Ultimately the high end market was extraordinary.  The over $10M market which has been hit so hard lately was up 87% over last year.  Obviously, this causes the median and average prices to jump.  We had an incredible year, especially in the high end.  When we hear that the average price per home is up, the median price is up, the amount per s.f. is up, it would be easy to say we had the year of all years.  Conversely, if we said that the amount of transactions is down 6.2% we could say it was a slow year.  As most times, the truth lies in the middle.  In 2013 we saw the activity jump from 2012, but most of that was in the under $2M range and especially under $1m.  This year, the inventory of these markets were lacking all year.  In turn, that really affected the activity, and is where we saw most of the activity in 2013.  The under $1M properties sold dropped 12% from 2013.  The $1M-$2M dropped and even more astounding 21%.  These price points have been the pulse of the market and is the reason that the activity dropped 6%.   In my opinion overall, the market in 2014 was good, and could have been great if we had more inventory, especially in the under $2M market.  Everything points to a robust market in 2015.  As mentioned, the activity for the year was down about 6%.  However, when you look at November and December of this year we are up 7.5% on activity vs. 2013.   I have also included a link to the 4th Quarter Market Report my firm puts out for your review. 4th Quarter Report There are 493 properties for sale in Greenwich currently, 401 of which are single family homes.  This is down quite a bit over the last few weeks.  However, we are starting to see properties coming back on the market, so we should be seeing this number grow from here on out. I want to mention an event that friends at the Junior League are helping to organize.  There will be a panel to on preventing adolescent sports injuries.  Maximizing Your Child's Athletic Potential: Expert Advice on Training Smarter and Preventing Injuries will be Thursday January 22nd at 7 p.m. at the Greenwich Library.  Allan Houston will be the Moderator.  Here is the flyer: Maximize Your Child's Athletic Potential Following is the link to register if interested: http://www.greenwichlibrary.org/evanced/lib/eventsignup.asp?ID=26423   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 Properties Sold   When looking above you can see that April through July are what really hurt us this year.  The beginning of the year and the last couple of months have held up very well.  Unfortunately, April through July is the busiest part of the year. New Listings The new listings are pretty on par with last year with not much to analyze.    Year to Date Sold The value in these two charts are comparing the market of what is available vs. what has sold.  For example the under $1M market accounted for 35% of the sold properties while only 16% of the current inventory.  Hence, the sellers have the bargaining power.  The $5M-$7.5M is 14% of the current available properties but only 4% of the sold.  Hence, the buyers have the bargaining power.   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.  This one below is the amount of months on average to sell through our current inventory based on 2014 ytd sold numbers by price range. Price Range 1/31/14 2/28/14 3/28/14 4/25/14 5/16/14 7/31/14 12/31/14 0-$500K 10.2 6.0 7.0 6.1 5.5 5.6 3 $500K-$1M 9.7 8.6 9.0 8.7 8.6 5.2 3.7 $1M-$1.5M 5.5 9.5 8.9 10.3 7.8 6.4 4.4 $1.5M-$2M 8 14.5 13.6 18.4 17.8 11 6.7 $2M-$3M 4.7 9.2 11.6 14.3 14.2 11.1 7 $3M-$4M 11 13.1 11.8 14.2 14.5 10.4 9 $4M-$5M 11.9 8.9 13.1 14.4 22.1 17.7 18.4 $5M-$7.5M 20.7 32.0 39.5 59 56.6 32 25.1 $7.5M-$10M n/a n/a 71.5 51 31.5 59.5 21.6 $10M+ 22.4 27.2 42.0 22.7 33.8 29.9 35.2 As you can see the market needs more inventory in under $3M range and continue to see improvement in the higher price ranges.  Obviously, in times of lower inventory it dramatically changes the numbers.     Open Houses for January 11th       Below are the 20 Open houses for this week. Street Name Area List Price Time Listing Office 13 Hickory Drive Greenwich $3.975K 1-3 p.m. Raveis 69 Riverdale Avenue #205 Greenwich $829K 1-3 p.m. Sotheby's 57 Richmond Drive Old Greenwich $895K 2-4 p.m. Coldwell Banker 13 Hickory Drive Greenwich $925K 1-3 p.m. Raveis 35 Center Drive Old Greenwich $999K 2-4 p.m. Halstead 29 Butler Street Cos Cob $1.295M 1-3 p.m. Raveis 2 Sheldrake Road Greenwich $1.296M 1-4 p.m. BHHS 16 Mackenzie Glen Greenwich $1.75M 1-4 p.m. Raveis 39 Bowman Drive Greenwich $1.85M 1-4 p.m. Raveis 16 Crescent Road Riverside $2.295M 1-3 p.m. Coldwell Banker 106 Patterson Avenue Greenwich $2.85M 1-4 p.m. Raveis 11 Meyer Place Riverside 2.888M 1-4 p.m. Coldwell Banker 184 Stanwich Road Greenwich $2.95M 1-4 p.m. BHHS 7 Gisborne Place Old Greenwich $2.995M 1-4 p.m. Coldwell Banker 50 Lockwood Avenue Old Greenwich $3.495M 1-3 p.m. Raveis 29 Byfield Lane Greenwich $3.595M 1-3 p.m. Raveis 35 Upland Drive Greenwich $3.795M 11-2 p.m. Raveis 26 Stillman Lane Greenwich $4.85M 1-3 p.m. Coldwell Banker 22 Stillman Lane Greenwich $4.995M 1-3 p.m. Coldwell Banker 20 Langhorne Lane Greenwich $5.995M 10-12 p.m. Raveis   Best,                                                                                                                                                         Jared Randall                                                 Join my Mailing List Houlihan Lawrence Greenwich                     Search Properties www.greenwichrealestateguy.com                Forward to a Friend cell:  203-273-1034                                         View My Website email:  jrandall@houlihanlawrence.com     Like me on Facebook            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.

Greenwich, CT Residential Real Estate Blog and Analysis: December 12th

Greenwich, CT Residential Real Estate Blog and Analysis:     December 12th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

This nicely updated home is in the heart of Riverside, in a sought after location of 32 Hidden Brook Road.  Aspects of the home that I loved was that there were five bedrooms and three full baths upstairs.  The kitchen is spacious with a nice flow throughout.  The lower level is finished with a bedroom and a bath perfect for an Au-Paire or guests.  The deck off of the kitchen is great for entertaining.  The home is listed as 3,562 s.f. with five bedrooms and four full baths with one half bath.  There is a two car attached garage, and a fireplace in the family room.  The lot is .27 of an acre, and is move in ready.  The price is $2,350,000. 

There are 543 properties for sale in Greenwich currently, 445 of which are single family homes.  This is down quite a bit over the last few weeks.  That trend will continue to drop, as properties will be taken off for the holidays and we should see some sales for tax reasons before the end of the year.

I would like to take a minute to thank everyone.  We just ended the third quarter.  There are over 1,120 Realtors in Greenwich and when counting my private sales I ranked 12th in gross volume for the third quarter.  I truly appreciate everyone who takes the time to read and follow this blog as well as those of you who have used me and continue to tell your friends about me.  Thank you.

The charts I will update for the end of year review after the holidays but the open house list is for this weekend.

I have also included a link to the 3rd Quarter Market Report my firm puts out for your review.

3rd Quarter Market Report

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

Properties Sold   When looking above you can see that April through July are what really hurt us this year.  The beginning of the year and the last couple of months have held up very well.  Unfortunately, April through July is the busiest part of the year. New Listings We had 87 new listings in October.  This is a little less than the past two years.

Year to Date Sold The percentages have leveled off and are sustaining, all percentages are the same vs. the end of last month.   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.  This one below is the amount of months on average to sell through our current inventory based on 2014 ytd sold numbers by price range. Price Range 1/31/14 2/28/14 3/28/14 4/25/14 5/16/14 7/31/14 0-$500K 10.2 6.0 7.0 6.1 5.5 5.6 $500K-$1M 9.7 8.6 9.0 8.7 8.6 5.2 $1M-$1.5M 5.5 9.5 8.9 10.3 7.8 6.4 $1.5M-$2M 8 14.5 13.6 18.4 17.8 11 $2M-$3M 4.7 9.2 11.6 14.3 14.2 11.1 $3M-$4M 11 13.1 11.8 14.2 14.5 10.4 $4M-$5M 11.9 8.9 13.1 14.4 22.1 17.7 $5M-$7.5M 20.7 32.0 39.5 59 56.6 32 $7.5M-$10M n/a n/a 71.5 51 31.5 59.5 $10M+ 22.4 27.2 42.0 22.7 33.8 29.9   I believe these chart above and below best show the Greenwich market.  If you look at the months on average to sell through the inventory I believe it best shows the market.  I have done two reports, one based on last year's activity and one based on this year's activity.  You will see that across the board the months on average are down year to date, which may seem counter intuitive if I am saying that the transactions are down.  However, the end of July is typical when the least amount of inventory is out there, due to being past the spring market and before the fall market.  Hence, when you compare it to the chart with the 2013 activity you see that the months on average are higher. The chart below is the amount of months on average to sell throughcurrent inventory based on all of 2013 sold numbers by price range.  Price Range 8/30/13 9/30/13 10/25/13 11/30/13 12/30/13 1/31/14 2/28/14 3/28/14 4/25/14 5/16/14 7/31/14 0-$500K 4.26 4.4 5.2 4.2 4 4.2 4 3.8 3.7 4 4.1 $500K-$1M 4.65 4.9 4.6 3.4 3.2 3 3.8 4.4 5.2 5.4 4.7 $1M-$1.5M 4.96 5.2 4.6 3.6 3 3.5 4 4.1 5.6 5.4 5.8 $1.5M-$2M 5.61 5.6 5.1 5 4.7 5 6.4 6.1 7.2 7.1 8.7 $2M-$3M 7.84 9.1 8.3 6.3 5.4 5.9 6.9 8 9.1 10.3 9.7 $3M-$4M 20.22 23.4 21.3 17.1 15.8 16.3 15.3 16.5 19.8 18.5 19.8 $4M-$5M 22 23.9 25.3 18.8 14.1 15 13.7 13.7 18 21 22.7 $5M-$7.5M 40.8 31.6 26.4 25 21.5 22.2 24 25.1 28.4 32 26.5 $7.5M-$10M 44.8 52.1 58.8 53.1 46.3 46.3 46.3 42.9 46.3 48 58.3 $10M+ 272 103.2 92.1 72.2 61.5 66 63 66 54 67.5 70.5 I find these two charts to be very intriguing.  One can see the huge discrepancy based on the 2013 numbers between the luxury market and under $3M.  However, at the top if we use the inventory based on the ytd sold numbers it is not as definitive. The luxury market is doing much better than last year and each market seems to be doing relatively well.   Open Houses for December 14th       Below are the 12 Open houses for this week. Street Name Area List Price Time Listing Office 57 Richmond Drive Old Greenwich $895K 3-5 p.m. Coldwell Banker 14 Cat Rock Road Cos Cob $965K 1-4 p.m. BHHS 285 Bruce Park Avenue #B Greenwich $1.195M 1-3 p.m. Weichert 17 Lincoln Avenue Greenwich $2.795M 1-4 p.m. Sotheby's 106 Patterson Avenue Greenwich $2.85M 1-4 p.m. Raveis 11 Meyer Place Riverside $2.888M 1-3 p.m. Coldwell Banker 50 Lockwood Avenue Old Greenwich $3.495M 11-1 p.m. Raveis 1 Reynwood Manor Greenwich $3.599M 1-3 p.m. Coldwell Banker 70 Sherwood Avenue Greenwich $3.975M 1-4 p.m. Charles Paternina 22 Stillman Lane Greenwich $4.995M 1-3 p.m. Coldwell Banker 20 Langhorne Lane Greenwich $5.995M 1:30-3:30 p.m. Raveis 21 Midwood Drive Greenwich $10.85M 1-3 p.m. Coldwell Banker Best,                                                                                                                                                         Jared Randall                                                 Join my Mailing List Houlihan Lawrence Greenwich                     Search Properties www.greenwichrealestateguy.com                Forward to a Friend cell:  203-273-1034                                         View My Website email:  jrandall@houlihanlawrence.com     Like me on Facebook            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.

Greenwich, CT Residential Real Estate Blog and Analysis: December 5th

Greenwich, CT Residential Real Estate Blog and Analysis:  

  December 5th

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

I am on vacation this week in Florida.  I apologize for the delay in getting the open house list out to you.  The open house list has been updated for this week.   Please click on the above picture to see a video of the home at 8 Seagate Road in Riverside.  This home has one of the most beautiful views of any I have seen.  The 190 degree panoramic view of Old Greewich, the Sound, to Manhattan in the distance is breathtaking.  The walkout to Elias Point just adds to the scenery.  The home sits up high so has not been affected by any storm.  The Harbor Point Association adds to the privacy and quaintness of the location.  Yet, you are on the water in Riverside, close to everything.  The home contains five bedrooms, five baths, and two fireplaces.  It sits on 1.01 acres and has 6,534 s.f.   I have also included a link to the 3rd Quarter Market Report my firm puts out for your review. 3rd Quarter Market Report  You will be able to review the charts in detail below.  Quick synopsis is that we are down 9% in transactions vs. the same time last year.  Median prices are up 12.5%.  Inventory is up 2.8%, yet pendings are up 6.5%.   I would like to take a minute to thank everyone.  We just ended the third quarter.  There are over 1,120 Realtors in Greenwich and when counting my private sales I ranked 12th in gross volume for the third quarter.  I truly appreciate everyone who takes the time to read and follow this blog as well as those of you who have used me and continue to tell your friends about me.  Thank you.  The charts are as of end of Q3, the open house list has been updated.  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 Properties Sold   When looking above you can see that April through July are what really hurt us this year.  The beginning of the year and the last couple of months have held up very well.  Unfortunately, April through July is the busiest part of the year. New Listings We had 87 new listings in October.  This is a little less than the past two years.    Year to Date Sold The percentages have leveled off and are sustaining, all percentages are the same vs. the end of last month.   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.  This one below is the amount of months on average to sell through our current inventory based on 2014 ytd sold numbers by price range. Price Range 1/31/14 2/28/14 3/28/14 4/25/14 5/16/14 7/31/14 0-$500K 10.2 6.0 7.0 6.1 5.5 5.6 $500K-$1M 9.7 8.6 9.0 8.7 8.6 5.2 $1M-$1.5M 5.5 9.5 8.9 10.3 7.8 6.4 $1.5M-$2M 8 14.5 13.6 18.4 17.8 11 $2M-$3M 4.7 9.2 11.6 14.3 14.2 11.1 $3M-$4M 11 13.1 11.8 14.2 14.5 10.4 $4M-$5M 11.9 8.9 13.1 14.4 22.1 17.7 $5M-$7.5M 20.7 32.0 39.5 59 56.6 32 $7.5M-$10M n/a n/a 71.5 51 31.5 59.5 $10M+ 22.4 27.2 42.0 22.7 33.8 29.9   I believe these chart above and below best show the Greenwich market.  If you look at the months on average to sell through the inventory I believe it best shows the market.  I have done two reports, one based on last year's activity and one based on this year's activity.  You will see that across the board the months on average are down year to date, which may seem counter intuitive if I am saying that the transactions are down.  However, the end of July is typical when the least amount of inventory is out there, due to being past the spring market and before the fall market.  Hence, when you compare it to the chart with the 2013 activity you see that the months on average are higher. The chart below is the amount of months on average to sell through current inventory based on all of 2013 sold numbers by price range.  Price Range 8/30/13 9/30/13 10/25/13 11/30/13 12/30/13 1/31/14 2/28/14 3/28/14 4/25/14 5/16/14 7/31/14 0-$500K 4.26 4.4 5.2 4.2 4 4.2 4 3.8 3.7 4 4.1 $500K-$1M 4.65 4.9 4.6 3.4 3.2 3 3.8 4.4 5.2 5.4 4.7 $1M-$1.5M 4.96 5.2 4.6 3.6 3 3.5 4 4.1 5.6 5.4 5.8 $1.5M-$2M 5.61 5.6 5.1 5 4.7 5 6.4 6.1 7.2 7.1 8.7 $2M-$3M 7.84 9.1 8.3 6.3 5.4 5.9 6.9 8 9.1 10.3 9.7 $3M-$4M 20.22 23.4 21.3 17.1 15.8 16.3 15.3 16.5 19.8 18.5 19.8 $4M-$5M 22 23.9 25.3 18.8 14.1 15 13.7 13.7 18 21 22.7 $5M-$7.5M 40.8 31.6 26.4 25 21.5 22.2 24 25.1 28.4 32 26.5 $7.5M-$10M 44.8 52.1 58.8 53.1 46.3 46.3 46.3 42.9 46.3 48 58.3 $10M+ 272 103.2 92.1 72.2 61.5 66 63 66 54 67.5 70.5 I find these two charts to be very intriguing.  One can see the huge discrepancy based on the 2013 numbers between the luxury market and under $3M.  However, at the top if we use the inventory based on the ytd sold numbers it is not as definitive. The luxury market is doing much better than last year and each market seems to be doing relatively well.   Open Houses for December 7th       Below are the 27 Open houses for this week. Street Name Area List Price Time Listing Office 148 E. Elm Street #1 Greenwich $5.2K 10-12 p.m. Coldwell Banker 30 Old Stone Bridge Cos Cob $8.5K 2-4 p.m. BHHS 10 Ridge Street #B Greenwich $8.5K 1-3 p.m. Houlihan Lawrence 53 Rodwell #A Greenwich $470K 1-1 p.m. Keller Williams 107 River Run Greenwich $525K 2-4 p.m. BHHS 23 Center Drive Old Greenwich $1.095M 1-3 p.m. Halstead 210 Lyon Farm Greenwich $1.224M 2-4 p.m. Raveis 1017 North Street Greenwich $1.275M 2-4 p.m. Douglas Elliman 17 Manor Road Old Greenwich $1.295M 1-4 p.m. Coldwell Banker 51 Glen Road Greenwich $1.395M 1-3 p.m. BHHS 30 Old Stone Bridge Cos Cob $1.595M 2-4 p.m. BHHS 142 Sound Beach Old Greenwich $1.699M 1-3 p.m. Sotheby's 233 Milbank #8 Greenwich $1.795M 1-3 p.m. Houlihan Lawrence 55 Shore Road Old Greenwich $1.998M 1-3 p.m. Weichert 69 Mallard Drive Greenwich $2.45M 1-3 p.m. Sotheby's 10 Ridge Street #B Greenwich $2.595M 1-3 p.m. Houlihan Lawrence 420 North Street Greenwich $2.699M 1-4 p.m. Sotheby's 7 Gisborne Place Old Greenwich $2.995M 1-3 p.m. Coldwell Banker 50 Lockwood Avenue Old Greenwich $3.495M 1:30-3:30 p.m. Raveis 122 Clapboard Ridge Road Greenwich $3.6M 1-3 p.m. David Ogilvy 70 Sherwood Avenue Greenwich $3.975M 1-4 p.m. Charles Paternina 31 Owenoke Way Riverside $4.295M 1-3 p.m. BHHS 22 Stillman Lane Greenwich $4.995M 1-3 p.m. Coldwell Banker 20 Langhorne Lane Greenwich $5.995M 11-1 p.m. Raveis 158 Clapboard Ridge Road Greenwich $6.295M 1-4 p.m. Coldwell Banker 14 Golf Club Road Greenwich $6.85M 12-2 p.m. Coldwell Banker 12 Byfield Lane Greenwich $7.499M 1-4 p.m. BHHS   Best,                                                                                                                                                         Jared Randall                                                 Join my Mailing List Houlihan Lawrence Greenwich                     Search Properties www.greenwichrealestateguy.com                Forward to a Friend cell:  203-273-1034                                         View My Website email:  jrandall@houlihanlawrence.com     Like me on Facebook           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.

Greenwich, CT Residential Real Estate Blog and Analysis: November 21st

Greenwich, CT Residential Real Estate Blog and Analysis:    November 21st

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

The open house list has been updated for this week.  Please click on the above picture to see a video of the home at 8 Seagate Road in Riverside.  This home has one of the most beautiful views of any I have seen.  The 190 degree panoramic view of Old Greewich, the Sound, to Manhattan in the distance is breathtaking.  The walkout to Elias Point just adds to the scenery.  The home sits up high so has not been affected by any storm.  The Harbor Point Association adds to the privacy and quaintness of the location.  Yet, you are on the water in Riverside, close to everything.  The home contains five bedrooms, five baths, and two fireplaces.  It sits on 1.01 acres and has 6,534 s.f.  

There are 628 current properties for sale in all of Greenwich.

I have also included a link to the 3rd Quarter Market Report my firm puts out for your review.

3rd Quarter Market Report

 You will be able to review the charts in detail below.  Quick synopsis is that we are down 9% in transactions vs. the same time last year.  Median prices are up 12.5%.  Inventory is up 2.8%, yet pendings are up 6.5%.  

I would like to take a minute to thank everyone.  We just ended the third quarter.  There are over 1,120 Realtors in Greenwich and when counting my private sales I ranked 12th in gross volume for the third quarter.  I truly appreciate everyone who takes the time to read and follow this blog as well as those of you who have used me and continue to tell your friends about me.  Thank you.  The charts are as of end of Q3, the open house list has been updated. 

 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

Properties Sold

 

When looking above you can see that April through July are what really hurt us this year.  The beginning of the year and the last couple of months have held up very well.  Unfortunately, April through July is the busiest part of the year.

New Listings

We had 87 new listings in October.  This is a little less than the past two years.

Year to Date Sold

The percentages have leveled off and are sustaining, all percentages are the same vs. the end of last month.

 

Year to Date Available

  

Open Houses for November 23rd       Below are the 49 open houses this weekend.  I imagine this is one of the last big weekends for open houses, as the inventory tends to shrink from Thanksgiving to February. Street Name Area List Price Time Listing Office 48 Rodwell Avenue #A Greenwich $4K 1-3 p.m. Raveis 12 Lockwood Drive Old Greenwich $5.35K 1-3 p.m. Weichert 9 River Road #409 Cos Cob $429.5K 1-3 p.m. Sotheby's 48 Rodwell Avenue #A Greenwich $639K 1-3 p.m. Raveis 13 Fletcher Avenue Greenwich $650K 2-4 p.m. Weichert 303 Bruce Park Greenwich $699K 12-3 p.m. Weichert 47 Lafayette Place #4E Greenwich $715K 1-3 p.m. Sotheby's 69 Riverdale Avenue #205 Greenwich $849.5K 1-3 p.m. Sotheby's 23 Center Drive Old Greenwich $1.095M 12-2 p.m. Halstead 285 Bruce Park #A Greenwich $1.195M 1-3 p.m. Weichert 285 Bruce Park #B Greenwich $1.195M 1-3 p.m. Weichert 28 Hollow Wood Lane Greenwich $1.249M 1-4 p.m. BHHS 12 Lockwood Drive Old Greenwich $1.295M 1-3 p.m. Weichert 233 Milbank #8 Greenwich $1.795M 12-4p.m. Houlihan Lawrence 11 Circle Drive Greenwich $1.95M 1-4 p.m. BHHS 55 Shore Road Old Greenwich $1.999M 1-3 p.m. Weichert 7 North Street Greenwich $2.195M 1-3 p.m. Sotheby's 21 Martin Dale Greenwich $2.195M 2-4 p.m. Houlihan Lawrence 88 Dingletown Road Greenwich $2.395M 1-3 p.m. William Pitt 34 Hearthstone Drive Riverside $2.4M 1-4 p.m. BHHS 420 North Street Greenwich $2.795M 1-4 p.m. Sotheby's 50 Lockwood Avenue Old Greenwich $3.495M 10:30-12:30 Raveis 15 Lexington Avenue Greenwich $3.695M 12-2 p.m. Coldwell Banker 57 Gilliam Lane Riverside $3.695M 1-3 p.m. Sotheby's 154 North Street Greenwich $3.825M 1-4 p.m. New England Land 38 Bramble Lane Riverside $3.895M 1-4 p.m. BHHS 70 Sherwood Avenue Greenwich $3.975M 10-4 p.m. Charles Paternina 21 Walsh Lane Greenwich $4.295M 1-4 p.m. BHHS 22 Stillman Lane Greenwich $4.995M 1-3 p.m. Coldwell Banker   Best,                                                                                                                                                         Jared Randall                                                 Join my Mailing List Houlihan Lawrence Greenwich                     Search Properties www.greenwichrealestateguy.com                Forward to a Friend cell:  203-273-1034                                         View My Website email:  jrandall@houlihanlawrence.com     Like me on Facebook

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.

Greenwich, CT Residential Real Estate Blog and Analysis: November 14th

Greenwich, CT Residential Real Estate Blog and Analysis:    November 14th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

Please click on the above picture to see a video of the home at 8 Seagate Road in Riverside.  This home has one of the most beautiful views of any I have seen.  The 190 degree panoramic view of Old Greewich, the Sound, to Manhattan in the distance is breathtaking.  The walkout to Elias Point just adds to the scenery.  The home sits up high so has not been affected by any storm.  The Harbor Point Association adds to the privacy and quaintness of the location.  Yet, you are on the water in Riverside, close to everything.  The home contains five bedrooms, five baths, and two fireplaces.  It sits on 1.01 acres and has 6,534 s.f.  

There are 628 current properties for sale in all of Greenwich.

I have also included a link to the 3rd Quarter Market Report my firm puts out for your review.

3rd Quarter Market Report

 You will be able to review the charts in detail below.  Quick synopsis is that we are down 9% in transactions vs. the same time last year.  Median prices are up 12.5%.  Inventory is up 2.8%, yet pendings are up 6.5%.  

I would like to take a minute to thank everyone.  We just ended the third quarter.  There are over 1,120 Realtors in Greenwich and when counting my private sales I ranked 12th in gross volume for the third quarter.  I truly appreciate everyone who takes the time to read and follow this blog as well as those of you who have used me and continue to tell your friends about me.  Thank you.  The charts are as of end of Q3, the open house list has been updated. 

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

Properties Sold

 

When looking above you can see that April through July are what really hurt us this year.  The beginning of the year and the last couple of months have held up very well.  Unfortunately, April through July is the busiest part of the year.

New Listings

We had 87 new listings in October.  This is a little less than the past two years.

Year to Date Sold

The percentages have leveled off and are sustaining, all percentages are the same vs. the end of last month.

 

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.  This one below is the amount of months on average to sell through our current inventory based on 2014 ytd sold numbers by price range.

Price Range	1/31/14	2/28/14	3/28/14	4/25/14	5/16/14	7/31/14
0-$500K	10.2	6.0	7.0	6.1	5.5	5.6
$500K-$1M	9.7	8.6	9.0	8.7	8.6	5.2
$1M-$1.5M	5.5	9.5	8.9	10.3	7.8	6.4
$1.5M-$2M	8	14.5	13.6	18.4	17.8	11
$2M-$3M	4.7	9.2	11.6	14.3	14.2	11.1
$3M-$4M	11	13.1	11.8	14.2	14.5	10.4
$4M-$5M	11.9	8.9	13.1	14.4	22.1	17.7
$5M-$7.5M	20.7	32.0	39.5	59	56.6	32
$7.5M-$10M	n/a	n/a	71.5	51	31.5	59.5
$10M+	22.4	27.2	42.0	22.7	33.8	29.9

 

I believe these chart above and below best show the Greenwich market.  If you look at the months on average to sell through the inventory I believe it best shows the market.  I have done two reports, one based on last year's activity and one based on this year's activity.  You will see that across the board the months on average are down year to date, which may seem counter intuitive if I am saying that the transactions are down.  However, the end of July is typical when the least amount of inventory is out there, due to being past the spring market and before the fall market.  Hence, when you compare it to the chart with the 2013 activity you see that the months on average are higher.

The chart below is the amount of months on average to sell throughcurrent inventory based on all of 2013 sold numbers by price range. 

Price Range	8/30/13	9/30/13	10/25/13	11/30/13	12/30/13	1/31/14	2/28/14	3/28/14	4/25/14	5/16/14	7/31/14
0-$500K	4.26	4.4	5.2	4.2	4	4.2	4	3.8	3.7	4	4.1
$500K-$1M	4.65	4.9	4.6	3.4	3.2	3	3.8	4.4	5.2	5.4	4.7
$1M-$1.5M	4.96	5.2	4.6	3.6	3	3.5	4	4.1	5.6	5.4	5.8
$1.5M-$2M	5.61	5.6	5.1	5	4.7	5	6.4	6.1	7.2	7.1	8.7
$2M-$3M	7.84	9.1	8.3	6.3	5.4	5.9	6.9	8	9.1	10.3	9.7
$3M-$4M	20.22	23.4	21.3	17.1	15.8	16.3	15.3	16.5	19.8	18.5	19.8
$4M-$5M	22	23.9	25.3	18.8	14.1	15	13.7	13.7	18	21	22.7
$5M-$7.5M	40.8	31.6	26.4	25	21.5	22.2	24	25.1	28.4	32	26.5
$7.5M-$10M	44.8	52.1	58.8	53.1	46.3	46.3	46.3	42.9	46.3	48	58.3
$10M+	272	103.2	92.1	72.2	61.5	66	63	66	54	67.5	70.5

Open Houses for November 16th       Below are the 49 open houses this weekend.  I imagine this is one of the last big weekends for open houses, as the inventory tends to shrink from Thanksgiving to February. Street Name Area List Price Time Listing Office 27 Bridge Street Greenwich $2.95K 12-2 p.m. Sotheby's 57 Grey Rock Drive Greenwich $4K 1-4 p.m. Edwards 53 Indian Field Road Greenwich $5K 12-2 p.m. Raveis 14 Summit Road Riverside $6K 1-4 p.m. Sotheby's 10 Birchwood Drive Greenwich $7.5K 1-3 p.m. Houlihan Lawrence 10 Ridge Street #B Greenwich $8.5K 2-4 p.m. Houlihan Lawrence 2 Idar Court #A Greenwich $11K 2-4 p.m. Coldwell Banker 212 Taconic Road Greenwich $14.995K 1-4 p.m. BHHS 52 Lafayette Place #3A Greenwich $379.9K 1-4 p.m. BHHS 53 Rodwell Avenue #A Greenwich $494K 1-4 p.m. Keller Williams 45 Alexander Street #B Greenwich $649K 12-12 p.m. New England Land 100 Strickland Road #8 Cos Cob $670K 1-3 p.m. Raveis 27 Bridge Street Greenwich $679K 12-2 p.m. Sotheby's 20 Highland Place Greenwich $799K 2-4 p.m. Anderson Associates 66 Mary Lane Riverside $835K 1-3 p.m. Raveis 2 Gerald Court Riverside $869K 2-4 p.m. Coldwell Banker 57 Richmond Drive Old Greenwich $895K 2-4 p.m. Coldwell Banker 14 Cat Rock Road Cos Cob $965K 1-4 p.m. BHHS 35 Center Drive Old Greenwich $999K 1-3 p.m. Halstead 80 Bedford Road Greenwich $1M 1-4 p.m. BHHS 23 Manor Road Old Greenwich $1.089M 12-3 p.m. BHHS 1017 North Street Greenwich $1.275M 1-1 p.m. Douglas Elliman 17 Manor Road Old Greenwich $1.295M 1-4 p.m. Coldwell Banker 51 Glen Road Greenwich $1.395M 2-4 p.m. BHHS 53 Indian Field Road Greenwich $1.399M 12-2 p.m. Raveis 15 Nutmeg Drive Greenwich $1.5M 1-3 p.m. Anderson Associates 14 Summit Road Riverside $1.525M 1-4 p.m. Sotheby's 365 Round Hill Road Greenwich $1.595M 12:30-2:00 p.m. Weichert 30 Old Stone Bridge Cos Cob $1.595M 2-4 p.m. BHHS 16 Mackenzie Glen Greenwich $1.749M 1-4 p.m. Raveis 233 Milbank Avenue #8 Greenwich $1.795M 1-3 p.m. Houlihan Lawrence 55 Shore Road Old Greenwich $1.999M 1-3 p.m. Weichert 30 Montgomery Lane Greenwich $2.195M 2-4 p.m. Houlihan Lawrence 10 Birchwood Drive Greenwich $2.295M 1-3 p.m. Houlihan Lawrence 2 Idar Court #A Greenwich $2.475M 2-4 p.m. Coldwell Banker 10 Ridge Street #B Greenwich $2.595M 2-4 p.m. Houlihan Lawrence 527 Stanwich Road Greenwich $2.7M 1-4 p.m. BHHS 420 North Street Greenwich $2.795M 1-4 p.m. Sotheby's 106 Patterson Avenue Greenwich $2.85M 2-4 p.m. Raveis 265 Valley Road Cos Cob $2.995M 12-3 p.m. Higgins 7 Gisborne Place Old Greenwich $2.995M 1-3 p.m. Coldwell Banker 50 Lockwood Avenue Old Greenwich $3.495M 11-1 p.m. Raveis 1 Reynwood Manor Greenwich $3.599M 1-3 p.m. Coldwell Banker 70 Sherwood Avenue Greenwich $3.975M 10-4p.m. Charles Paternina 212 Taconic Road Greenwich $4.2M 1-4 p.m. BHHS 22 Stillman Lane Greenwich $4.995M 1-4 p.m. Coldwell Banker 421 Field Point Road Greenwich $5.7M 1-4 p.m. BHHS 20 Langhorne Lane Greenwich $5.995M 1:30-3:30 p.m. Raveis 21 Hurlingham Drive Greenwich $11.975M 2-4 p.m. Coldwell Banker   Best,                                                                                                                                                         Jared Randall                                                 Join my Mailing List Houlihan Lawrence Greenwich                     Search Properties www.greenwichrealestateguy.com                Forward to a Friend cell:  203-273-1034                                         View My Website email:  jrandall@houlihanlawrence.com     Like me on Facebook

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.