Greenwich CT, Residential Real Estate Blog and Analysis: January 3rd

Greenwich, CT Residential Real Estate Blog and Analysis:   January 3rd  2013 Year in Review A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

I decided to do a 2013 Year in Review as my first newsletter of 2014.  To that end the above pictured estate was the highest sold property through the Greenwich MLS in 2013.  555 Lake Avenue sold for $25M.  It boasts 8.23 acres of land.  The home has 8 bedrooms, 11 full baths, as well as 2 half baths.  The new owners will stay warm on days like this as there are eight fireplaces.  There are twenty five rooms, in the estate that was constructed and designed by award winning architect Dinyer Wadie and the twenty five room interior designed by Linda Ruderman. When we look at 2013 as a whole we can definitely see the market turn.  We sold 834 units, compared to 722 in 2012.  However, when we dig into the data we realize that it was the story of two different markets.  The under $3M market and the over $3M market.  Every price range under $3M grew.  In 2013 we sold 710 properties under $3M compared to 583 in 2012.  That is a 22% increase, which is incredible growth in one year.  However, over $3M we sold 124 units compared to 139 in 2012, which is an 11% decrease. Obviously, this is looking at 2013 as a whole.  It is important when looking at these numbers to compare with the current market.  I believe these numbers show that last year was the market regaining it's momentum.  In the beginning of the year it was anything under $1M was flying off the shelves, in the middle of the year it was anything under $2M, and by the end of the year, under $3M was heating up.  Hence, as we look at 2014, I believe we will see two things happen.  I believe the message will get out that the market has changed and we will see an onslaught of inventory in the spring.  It will be very interesting to see if that inventory moves quickly or not.  Secondly, I believe we will see the luxury market pick up steam.  If you look below at the Market Report pay close attention to the right side which shows the difference in the past two years.  For example the over $10M properties was down 43% last year.  However, our first property over $10M did not sell until late June, so in actuality we had eight properties sell in the last five and a half months.  Plus, there are three properties currently priced over $10M that are in contract or have executed contract.  Hence, you can see that even though 2013 as a whole was tough for that market, it is definitely a stronger market now than in the first six to nine months of 2013. There is a lack of inventory currently as properties come off of the market for the year end.  In my opinion that points to an onslaught of inventory in Spring.  If, you are looking to put your house on the market I would advise to put on before rather than later, as I feel there the philosophy of waiting until the spring market is outdated with the internet.  The difficulty with that thought process is if everyone else is doing the same then you are competing against numerous properties.  However, if you put it between now and February you have the opportunity to differentiate yourself online as well as the Realtor Community.  As Realtors we tour houses every Tuesday and Thursday, and if there are not a lot of broker open houses your house will be seen by a lot of Realtors which obviously helps in those realtors showing your house.  Currently, we have 455 properties on the market.  When you look at my blog from the end of September we had 656 properties, which is a 31 percent decrease in total inventory in the last couple of months.         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    As mentioned above we outdid last year with 834 sold properties compared to 722 in 2012.  We outpaced last year in nine of the twelve months.   New Listings Not only did we outpace last year with sold properties, but we also did with new listings.  The positive here is that it was only a slight gain.  2012 we had 1,195 new listings, compared to 1,251 this year.  In my eyes this is promising as the percentage increase in sold properties outdoes the percentage increase in listings.    Year to Date Sold  If you read this blog you know I have been saying time and time again we have two different markets.  This graph speaks to it better than anything else.  86% of the properties sold last year were under $3M.    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.  I have broken this down by June of 2012 (which is the high in my opinion) to January of 2013 (the low in my opinion) then will add each month as we come to them.    Price Range 6/12/13 1/5/13 2/1/13 2/22/13 3/22/13 4/26/13 5/31/13 6/28/13 7/26/13 8/30/13 9/30/13 10/31/13 11/30/13 12/31/13 0-$500K 6.36 4.96 5.76 5.28 5.12 4.95 5.76 5.76 6.24 5.11 5.28 6.08 4.96 4.48 $500K-$1M 7.98 3.88 4.22 4.22 4.72 5.11 5.5 5.55 5.5 5.16 5.33 5 3.72 3.33 $1M-$1.5M 11.48 7.22 7.34 7.1 7.22 8.2 9.3 8.81 7.95 7.59 7.95 6.97 5.38 4.67 $1.5M-$2M 10.86 7 8.55 9.06 8.68 9.44 9.19 8.8 8.5 7.53 7.27 6.25 6.12 5.61 $2M-$3M 15.27 8.64 9.72 10.2 9.96 12.24 13.8 12.6 12.12 11.76 13.08 11.64 9.12 7.56 $3M-$4M 21.82 12.4 13.77 16.22 17.55 20.88 22.66 22 20.22 20.22 22 19.77 16.22 14 $4M-$5M 37.33 17.5 16.5 18.5 21.5 27.5 28 27.5 23.5 21.99 24 24.5 18 16.5 $5M-$7.5M 30.92 19.4 20.47 20.47 20.82 23.64 25.76 26.82 26.47 24 26.11 24.7 23.29 20.82 $7.5M-$10M 57 25.84 22.15 22.15 25.84 26.76 31.38 33.2 32.3 25.84 26.76 27.69 26.79 24.92 $10M+ 40.21 36 36.85 40.28 38.57 36 38.57 36 31.71 29.14 39.42 40.28 39.42 25.89 **to calculate months on average in this chart I used the full year of 2012 sold properties in each price range   Look at the difference in the last month's numbers and how it has affected the overall market.  With so many people taking their homes off the market in the past month it has really affected the market.  The interesting aspect is that the luxury market has stayed consistent.  Yet, the other price ranges have dropped tremendously over the last month. Price Range 8/30/13 9/30/13 10/25/13 11/30/13 12/31/13 0-$500K 4.26 4.4 5.2 4.2 4 $500K-$1M 4.65 4.9 4.6 3.4 3.2 $1M-$1.5M 4.96 5.2 4.6 3.6 3 $1.5M-$2M 5.61 5.6 5.1 5 4.7 $2M-$3M 7.84 9.1 8.3 6.3 5.4 $3M-$4M 20.22 23.4 21.3 17.1 15.8 $4M-$5M 22 23.9 25.3 18.8 14.1 $5M-$7.5M 40.8 31.6 26.4 25 21.5 $7.5M-$10M 44.8 52.1 58.8 53.1 46.3 $10M+ 272 103.2 92.1 72.2 61.5 ** to calculate months on average in this chart I used year to date sold properties in each price range. Obviously the months on average were the lowest at the end of the year 2012.  The uncertainty of the fiscal cliff, as well as the election (most properties that closed in December were negotiated before election was finalized), and uncertainty of taxes.  Not to mention if people are going to take their house off of the market they will tend to do it over the holidays.   Open Houses January 5th      There are three open houses this weekend.  Stay warm. Address Area List Price Time Listing Office 67 Prospect Street Greenwich $1.295M 1-4 Lockwood  4 River Avenue Greenwich $2.5M 12-3 Raveis 240 Riverside Avenue Riverside $3.149M 12-2 Coldwell   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 Manhatan, and in Greenwich I prefer Treena David-Chirico of Wells Fargo. 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 20th

Greenwich, CT Residential Real Estate Blog and Analysis:   December 20th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

There are no open houses this weekend and I doubt there will be any open houses next weekend.  Hence, this will be the last newsletter of the year.  I would like to take the opportunity to thank everyone who reads this blog/newsletter.  In my wildest dreams, I never thought it would have as many followers as we currently have.  From my family to yours, have the best of Holidays, and wishing you an exciting 2014.   We just changed our MLS (Multiple Listing Service).  If you would like me to set you up with a web portal based on your customized search that will alert you as a new property comes on the market, changes price, or is sold, send me an email with your criteria.  Clients love this as it helps them become more educated on what price points properties are transacting at within their own personal criteria.   There is a lack of inventory currently as properties come off of the market for the year end.  In my opinion that points to an onslaught of inventory in Spring.  If, you are looking to put your house on the market I would advise to put on before rather than later, as I feel there the philosophy of waiting until the spring market is outdated with the internet.  The difficulty with that thought process is if everyone else is doing the same then you are competing against numerous properties.  However, if you put it between now and February you have the opportunity to differentiate yourself online as well as the Realtor Community.  As Realtors we tour houses every Tuesday and Thursday, and if there are not a lot of broker open houses your house will be seen by a lot of Realtors which obviously helps in those realtors showing your house.  Currently, we have 514 properties on the market, only down two from last week.  If you look at my blog from the end of September we had 656 properties, which is still 22 percent decrease in total inventory in the last couple of months.  Since, there were not a lot of changes with the market, I have not updated the graphs as they are all accurate.  I have updated the open house list in case you are expert snow navigators. Below are the Sold Price to List Price percentage for each of the four towns as well as some neighborhood data: Sold Price vs. List Price    Neighborhood Data       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    We had another great month in sold properties.  Last year's November was busier than the past with the uncertainty of the fiscal cliff.  Those fears pushed December to the best in recent memory as you can see above.  It says a lot that November out paced last year by so much.  Obviously, I do not see us competing with last year's December, but all and all we are seeing a lot more properties transact.  All of last year 722 properties sold, this through December 7th, we are already at 780. New Listings Again, we see the new listings out pacing previous years.  In my opinion this will only continue as homeowners feel the market gets better, I see more and more putting their house on the market.    Year to Date Sold  We are not seeing a huge change in the percentages as we are towards the end of the year.  However, I think it is important to point out where there are differences in prices ranges that have a flux between the sold and inventory.     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.  I have broken this down by June of 2012 (which is the high in my opinion) to January of 2013 (the low in my opinion) then will add each month as we come to them.    Price Range 6/12/13 1/5/13 2/1/13 2/22/13 3/22/13 4/26/13 5/31/13 6/28/13 7/26/13 8/30/13 9/30/13 10/31/13 11/30/13 0-$500K 6.36 4.96 5.76 5.28 5.12 4.95 5.76 5.76 6.24 5.11 5.28 6.08 4.96 $500K-$1M 7.98 3.88 4.22 4.22 4.72 5.11 5.5 5.55 5.5 5.16 5.33 5 3.72 $1M-$1.5M 11.48 7.22 7.34 7.1 7.22 8.2 9.3 8.81 7.95 7.59 7.95 6.97 5.38 $1.5M-$2M 10.86 7 8.55 9.06 8.68 9.44 9.19 8.8 8.5 7.53 7.27 6.25 6.12 $2M-$3M 15.27 8.64 9.72 10.2 9.96 12.24 13.8 12.6 12.12 11.76 13.08 11.64 9.12 $3M-$4M 21.82 12.4 13.77 16.22 17.55 20.88 22.66 22 20.22 20.22 22 19.77 16.22 $4M-$5M 37.33 17.5 16.5 18.5 21.5 27.5 28 27.5 23.5 21.99 24 24.5 18 $5M-$7.5M 30.92 19.4 20.47 20.47 20.82 23.64 25.76 26.82 26.47 24 26.11 24.7 23.29 $7.5M-$10M 57 25.84 22.15 22.15 25.84 26.76 31.38 33.2 32.3 25.84 26.76 27.69 26.79 $10M+ 40.21 36 36.85 40.28 38.57 36 38.57 36 31.71 29.14 39.42 40.28 39.42   **to calculate months on average in this chart I used the full year of 2012 sold properties in each price range   Look at the difference in the last month's numbers and how it has affected the overall market.  With so many people taking their homes off the market in the past month it has really affected the market.  The interesting aspect is that the luxury market has stayed consistent.  Yet, the other price ranges have dropped tremendously over the last month. Price Range 8/30/13 9/30/13 10/25/13 11/30/13 0-$500K 4.26 4.4 5.2 4.2 $500K-$1M 4.65 4.9 4.6 3.4 $1M-$1.5M 4.96 5.2 4.6 3.6 $1.5M-$2M 5.61 5.6 5.1 5 $2M-$3M 7.84 9.1 8.3 6.3 $3M-$4M 20.22 23.4 21.3 17.1 $4M-$5M 22 23.9 25.3 18.8 $5M-$7.5M 40.8 31.6 26.4 25 $7.5M-$10M 44.8 52.1 58.8 53.1 $10M+ 272 103.2 92.1 72.2 ** to calculate months on average in this chart I used year to date sold properties in each price range. Obviously the months on average were the lowest at the end of the year 2012.  The uncertainty of the fiscal cliff, as well as the election (most properties that closed in December were negotiated before election was finalized), and uncertainty of taxes.  Not to mention if people are going to take their house off of the market they will tend to do it over the holidays.   Open Houses December 22nd      There are no open houses this weekend. 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 Manhatan, and in Greenwich I prefer Treena David-Chirico of Wells Fargo. 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 13th

Greenwich, CT Residential Real Estate Blog and Analysis:   December 13th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

With the market slow due to the lack of new inventory and it being December, I have decided to feature a property that just sold this week.  The above property is located at 85 Richmond Hill Road.  This colonial was built in 2005 and sits on 4 acres of land.  There are 8 bedrooms, 9 full baths and 2 half baths as well as 5 fireplaces, and a garage fitting three cars.  The home is listed as containing 10,006 s.f.  If you have been reading this newsletter you know that the area that has been hit the hardest over the last few years is back country.  This home first came on the market for $8.9M in February of 2007.  The last time it came on was December of 2012 for $7.675M.  It had been on the market for 1,097 days and closed this week for $4.825M.  There are two ways to look at this.  Obviously the negative that it was on for so long and sold for such a small percentage compared to where it started.  However, for me it signifies the market really starting to show signs of sustainability.  The two aspects of the market that are slowest are back country and anything over $3M.  The fact that it sold, along with the other transactions over the past two months in Back Country are demonstrating the wait for Back Country to pick up could be over. We just changed our MLS (Multiple Listing Service).  If you would like me to set you up with a web portal based on your customized search that will alert you as a new property comes on the market, changes price, or is sold, send me an email with your criteria.  Clients love this as it helps them become more educated on what price points properties are transacting at within their own personal criteria.   There is a lack of inventory currently as properties come off of the market for the year end.  In my opinion that points to an onslaught of inventory in Spring.  If, you are looking to put your house on the market I would advise to put on before rather than later, as I feel there the philosophy of waiting until the spring market is outdated with the internet.  The difficulty with that thought process is if everyone else is doing the same then you are competing against numerous properties.  However, if you put it between now and February you have the opportunity to differentiate yourself online as well as the Realtor Community.  As Realtors we tour houses every Tuesday and Thursday, and if there are not a lot of broker open houses your house will be seen by a lot of Realtors which obviously helps in those realtors showing your house.  Currently, we have 514 properties on the market, only down two from last week.  If you look at my blog from the end of September we had 656 properties, which is still 22 percent decrease in total inventory in the last couple of months.  Since, there were not a lot of changes with the market, I have not updated the graphs as they are all accurate.  I have updated the open house list in case you are expert snow navigators. Below are the Sold Price to List Price percentage for each of the four towns as well as some neighborhood data: Sold Price vs. List Price    Neighborhood Data       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    We had another great month in sold properties.  Last year's November was busier than the past with the uncertainty of the fiscal cliff.  Those fears pushed December to the best in recent memory as you can see above.  It says a lot that November out paced last year by so much.  Obviously, I do not see us competing with last year's December, but all and all we are seeing a lot more properties transact.  All of last year 722 properties sold, this through December 7th, we are already at 780. New Listings Again, we see the new listings out pacing previous years.  In my opinion this will only continue as homeowners feel the market gets better, I see more and more putting their house on the market.    Year to Date Sold  We are not seeing a huge change in the percentages as we are towards the end of the year.  However, I think it is important to point out where there are differences in prices ranges that have a flux between the sold and inventory.     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.  I have broken this down by June of 2012 (which is the high in my opinion) to January of 2013 (the low in my opinion) then will add each month as we come to them.    Price Range 6/12/13 1/5/13 2/1/13 2/22/13 3/22/13 4/26/13 5/31/13 6/28/13 7/26/13 8/30/13 9/30/13 10/31/13 11/30/13 0-$500K 6.36 4.96 5.76 5.28 5.12 4.95 5.76 5.76 6.24 5.11 5.28 6.08 4.96 $500K-$1M 7.98 3.88 4.22 4.22 4.72 5.11 5.5 5.55 5.5 5.16 5.33 5 3.72 $1M-$1.5M 11.48 7.22 7.34 7.1 7.22 8.2 9.3 8.81 7.95 7.59 7.95 6.97 5.38 $1.5M-$2M 10.86 7 8.55 9.06 8.68 9.44 9.19 8.8 8.5 7.53 7.27 6.25 6.12 $2M-$3M 15.27 8.64 9.72 10.2 9.96 12.24 13.8 12.6 12.12 11.76 13.08 11.64 9.12 $3M-$4M 21.82 12.4 13.77 16.22 17.55 20.88 22.66 22 20.22 20.22 22 19.77 16.22 $4M-$5M 37.33 17.5 16.5 18.5 21.5 27.5 28 27.5 23.5 21.99 24 24.5 18 $5M-$7.5M 30.92 19.4 20.47 20.47 20.82 23.64 25.76 26.82 26.47 24 26.11 24.7 23.29 $7.5M-$10M 57 25.84 22.15 22.15 25.84 26.76 31.38 33.2 32.3 25.84 26.76 27.69 26.79 $10M+ 40.21 36 36.85 40.28 38.57 36 38.57 36 31.71 29.14 39.42 40.28 39.42   **to calculate months on average in this chart I used the full year of 2012 sold properties in each price range   Look at the difference in the last month's numbers and how it has affected the overall market.  With so many people taking their homes off the market in the past month it has really affected the market.  The interesting aspect is that the luxury market has stayed consistent.  Yet, the other price ranges have dropped tremendously over the last month. Price Range 8/30/13 9/30/13 10/25/13 11/30/13 0-$500K 4.26 4.4 5.2 4.2 $500K-$1M 4.65 4.9 4.6 3.4 $1M-$1.5M 4.96 5.2 4.6 3.6 $1.5M-$2M 5.61 5.6 5.1 5 $2M-$3M 7.84 9.1 8.3 6.3 $3M-$4M 20.22 23.4 21.3 17.1 $4M-$5M 22 23.9 25.3 18.8 $5M-$7.5M 40.8 31.6 26.4 25 $7.5M-$10M 44.8 52.1 58.8 53.1 $10M+ 272 103.2 92.1 72.2 ** to calculate months on average in this chart I used year to date sold properties in each price range. Obviously the months on average were the lowest at the end of the year 2012.  The uncertainty of the fiscal cliff, as well as the election (most properties that closed in December were negotiated before election was finalized), and uncertainty of taxes.  Not to mention if people are going to take their house off of the market they will tend to do it over the holidays.   Open Houses December 16th      Below are all of the Greenwich Open Houses for Sunday.  I apologize for the spacing issue.  I am pulling the information from our new MLS and could not get the spacing correct.  I will fix it by next week's edition. Address Town Price Time Broker 52 Lafayette Place #4B Greenwich $276K 1-3 PM Raveis 1535 E Putnam Avenue #301 Old Greenwich $300K 12-2 PM Raveis 561 River Road Cos Cob $730K 1-3 PM Raveis 40 Ettl Lane #14 Greenwich $875K 2-4 PM Weichert 30 Caroline Place Greenwich $1.195M 1-4 PM Raveis 111 Lake Avenue Greenwich $1.595M 1-3 PM Houlihan 16 Fairview Terrace Greenwich $1.995M 1-4 PM BHHS 3 Woodland Drive Greenwich $1.25M 1-4 PM BHHS 55 Shore Road Old Greenwich $2.349M 1-3 PM Weichart 294 Round Hill Road Greenwich $2.495M 1-4:30 PM BHHS 20 West End Avenue Old Greenwich $3.899M 1-3 PM Higgins 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 Manhatan, and in Greenwich I prefer Treena David-Chirico of Wells Fargo. 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 6th

Greenwich, CT Residential Real Estate Blog and Analysis:   December 6th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

With the holiday week the previous week there were not many houses on tour this week that I liked so I am leaving the featured house the same.  However, I have updated the activity report, the neighborhood report, all graphs, months on average, and the open house list.  The above pictured shingle style home is located at 26 Glen Avon Drive.  Glen Avon is a beautiful quiet street in Riverside.  It makes a horseshoe off of Club Road, which is the road where the Riverside Yacht Club is located.  Not only is the location perfect for quiet walks overlooking the water at sunset, but the house stands out as well.  The home sits on .84 of an acre making it an oversized lot.  I envision this house being the center of all of the kids in the neighborhood.  The back yard has it's own basketball court, and still room for a great patio and lawn, perfect for entertaining.  Inside the home boasts six bedrooms, five full baths and one half bath, as well as three fireplaces.  The master suite holds one of the fireplaces, as well as his and her walk in closets, a steam shower, and separate vanities.  The home is listed as 5,371 s.f. but that does not include the lower level which has a walk out playroom, bath room, and mud room.  While walking through the home it just felt right, from envisioning the neighborhood kids shooting hoops, to walking out your door to a picturesque walk, it left an impression.  The home is listed at $4.85M. This week we are changing our MLS (Multiple Listing Service). I will be changing all of the customized searches over to the new system which goes live on Monday.  Hence, if you would like me to set you up with a web portal based on your customized search that will alert you as a new property comes on the market, changes price, or is sold, send me an email with your criteria.  Clients love this as it helps them become more educated on what price points properties are transacting at within their own personal criteria.   There is a lack of inventory currently as properties come off of the market for the year end.  In my opinion that points to an onslaught of inventory in Spring.  If, you are looking to put your house on the market I would advise to put on before rather than later, as I feel there the philosophy of waiting until the spring market is outdated with the internet.  The difficulty with that thought process is if everyone else is doing the same then you are competing against numerous properties.  However, if you put it between now and February you have the opportunity to differentiate yourself online as well as the Realtor Community.  As Realtors we tour houses every Tuesday and Thursday, and if there are not a lot of broker open houses your house will be seen by a lot of Realtors which obviously helps in those realtors showing your house.  Currently, we have 516 properties on the market, continuing the trend of declining inventory over the last several weeks.  If you look at my blog from the end of September we had 656 properties, which is a 22 percent decrease in total inventory in the last couple of months.    Below are the Sold Price to List Price percentage for each of the four towns as well as some neighborhood data: Sold Price vs. List Price    Neighborhood Data       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    We had another great month in sold properties.  Last year's November was busier than the past with the uncertainty of the fiscal cliff.  Those fears pushed December to the best in recent memory as you can see above.  It says a lot that November out paced last year by so much.  Obviously, I do not see us competing with last year's December, but all and all we are seeing a lot more properties transact.  All of last year 722 properties sold, this through December 7th, we are already at 780. New Listings Again, we see the new listings out pacing previous years.  In my opinion this will only continue as homeowners feel the market gets better, I see more and more putting their house on the market.    Year to Date Sold  We are not seeing a huge change in the percentages as we are towards the end of the year.  However, I think it is important to point out where there are differences in prices ranges that have a flux between the sold and inventory.     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.  I have broken this down by June of 2012 (which is the high in my opinion) to January of 2013 (the low in my opinion) then will add each month as we come to them.    Price Range 6/12/13 1/5/13 2/1/13 2/22/13 3/22/13 4/26/13 5/31/13 6/28/13 7/26/13 8/30/13 9/30/13 10/31/13 11/30/13 0-$500K 6.36 4.96 5.76 5.28 5.12 4.95 5.76 5.76 6.24 5.11 5.28 6.08 4.96 $500K-$1M 7.98 3.88 4.22 4.22 4.72 5.11 5.5 5.55 5.5 5.16 5.33 5 3.72 $1M-$1.5M 11.48 7.22 7.34 7.1 7.22 8.2 9.3 8.81 7.95 7.59 7.95 6.97 5.38 $1.5M-$2M 10.86 7 8.55 9.06 8.68 9.44 9.19 8.8 8.5 7.53 7.27 6.25 6.12 $2M-$3M 15.27 8.64 9.72 10.2 9.96 12.24 13.8 12.6 12.12 11.76 13.08 11.64 9.12 $3M-$4M 21.82 12.4 13.77 16.22 17.55 20.88 22.66 22 20.22 20.22 22 19.77 16.22 $4M-$5M 37.33 17.5 16.5 18.5 21.5 27.5 28 27.5 23.5 21.99 24 24.5 18 $5M-$7.5M 30.92 19.4 20.47 20.47 20.82 23.64 25.76 26.82 26.47 24 26.11 24.7 23.29 $7.5M-$10M 57 25.84 22.15 22.15 25.84 26.76 31.38 33.2 32.3 25.84 26.76 27.69 26.79 $10M+ 40.21 36 36.85 40.28 38.57 36 38.57 36 31.71 29.14 39.42 40.28 39.42   **to calculate months on average in this chart I used the full year of 2012 sold properties in each price range   Look at the difference in the last month's numbers and how it has affected the overall market.  With so many people taking their homes off the market in the past month it has really affected the market.  The interesting aspect is that the luxury market has stayed consistent.  Yet, the other price ranges have dropped tremendously over the last month. Price Range 8/30/13 9/30/13 10/25/13 11/30/13 0-$500K 4.26 4.4 5.2 4.2 $500K-$1M 4.65 4.9 4.6 3.4 $1M-$1.5M 4.96 5.2 4.6 3.6 $1.5M-$2M 5.61 5.6 5.1 5 $2M-$3M 7.84 9.1 8.3 6.3 $3M-$4M 20.22 23.4 21.3 17.1 $4M-$5M 22 23.9 25.3 18.8 $5M-$7.5M 40.8 31.6 26.4 25 $7.5M-$10M 44.8 52.1 58.8 53.1 $10M+ 272 103.2 92.1 72.2 ** to calculate months on average in this chart I used year to date sold properties in each price range. Obviously the months on average were the lowest at the end of the year 2012.  The uncertainty of the fiscal cliff, as well as the election (most properties that closed in December were negotiated before election was finalized), and uncertainty of taxes.  Not to mention if people are going to take their house off of the market they will tend to do it over the holidays.   Open Houses December 9th      Below are all of the Greenwich Open Houses for Sunday.  The first two are rentals. Address Town Price Time Office 51 Forest Avenue #17 Old Greenwich $5.4K 1-3 p.m. BHHS02 17 Hawkwood Lane Greenwich $9K 1-3 p.m. COBA01 9 River Road #418 Cos Cob $570K 2-4:30 p.m. SCIA01 20 High Street Greenwich $575K 1-3 p.m. COBA01 53 William Street #A Greenwich $725K 1-4 p.m. BHHS01 15 Lafayette Court #4A Greenwich $775K 1-3 p.m. COBA01 7 Dearfield Lane Greenwich $2.28M 1-3 p.m. SCPR01 17 Hawkwood Lane Greenwich $2.59M 1-3 p.m. COBA01 81 Sawmill Lane Greenwich $2.995M 1-3 p.m. HLAW01 900 Lake Avenue Greenwich $3.195M 12- 3 p.m. RAVE01 20 West End Avenue Old Greenwich $3.899M 1-3 p.m. KAVO01 421 Field Point Road Greenwich $6.5M 1-4 p.m. BHHS01   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 Manhatan, and in Greenwich I prefer Treena David-Chirico of Wells Fargo. 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 22nd

Greenwich, CT Residential Real Estate Blog and Analysis:  November 22nd A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

I am traveling to California to spend Thanksgiving with family.  So, unfortunately, the data is not updated but the open house list is current for this weekend. The above pictured shingle style home is located at 26 Glen Avon Drive.  Glen Avon is a beautiful quiet street in Riverside.  It makes a horseshoe off of Club Road, which is the road where the Riverside Yacht Club is located.  Not only is the location perfect for quiet walks overlooking the water at sunset, but the house stands out as well.  The home sits on .84 of an acre making it an oversized lot.  I envision this house being the center of all of the kids in the neighborhood.  The back yard has it's own basketball court, and still room for a great patio and lawn, perfect for entertaining.  Inside the home boasts six bedrooms, five full baths and one half bath, as well as three fireplaces.  The master suite holds one of the fireplaces, as well as his and her walk in closets, a steam shower, and separate vanities.  The home is listed as 5,371 s.f. but that does not include the lower level which has a walk out playroom, bath room, and mud room.  While walking through the home it just felt right, from envisioning the neighborhood kids shooting hoops, to walking out your door to a picturesque walk, it left an impression.  The home is listed at $4.85M. Currently, we have 596 properties on the market, continuing the trend of declining inventory over the last several weeks.  If you look at my blog from the end of September we had 656 properties, which is an 10 percent decrease in total inventory in the last month.  We continue to see the 0-$3M get more competitive while the over $3M range adds more inventory.  When looking below at the charts, I feel this shows how much better our market is this year over the same time last year.  When looking specifically at the October numbers, we had 98 new properties this year, compared to 92 new properties in October of last year.  As you can see not too much of a difference (only 6%).  However, when looking at sold, we had 49 properties sold last year in October, and have sold 68 this October, a resounding increase (38%).  If you did not read last week's post I am still very excited to announce that I have been offered an incredible opportunity to sell real estate for Houlihan Lawrence.  I have been very impressed with the marketing capabilities of Houlihan, as well as their strategic partnerships to help ensure clients are getting their homes marketed as widely as possible.  Read an article that appeared in the Greenwich Patch last month when Houlihan Lawrence entered the marketplace; Houlihan Lawrence CT Presence.  I would be happy to discuss the benefits of Houlihan, and how I can help you buy or sale properties.  If you would like a price evaluation or set up an introductory appointment, please do not hesitate to call or email.   Below are the Sold Price to List Price percentage for each of the four towns as well as some neighborhood data: Sold Price vs. List Price    Neighborhood Data       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    Once again we seem to be looking like we will outpace the last few years in November as well.  Last year we had a huge push in sold properties in November and December because of the uncertainty in the presidential elections and the fiscal cliff.  However, we seem to be keeping up with November. New Listings In the first week and a half of November we have had 33 new properties and sold 21 properties.  Both are trending higher than recent years.    Year to Date Sold  We are not seeing a huge change in the percentages as we are towards the end of the year.  However, I think it is important to point out where there are differences in prices ranges that have a flux between the sold and inventory.     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.  I have broken this down by June of 2012 (which is the high in my opinion) to January of 2013 (the low in my opinion) then will add each month as we come to them.    Price Range 6/12/13 1/5/13 2/1/13 2/22/13 3/22/13 4/26/13 5/31/13 6/28/13 7/26/13 8/30/13 9/30/13 10/31/13 0-$500K 6.36 4.96 5.76 5.28 5.12 4.95 5.76 5.76 6.24 5.11 5.28 6.08 $500K-$1M 7.98 3.88 4.22 4.22 4.72 5.11 5.5 5.55 5.5 5.16 5.33 5 $1M-$1.5M 11.48 7.22 7.34 7.1 7.22 8.2 9.3 8.81 7.95 7.59 7.95 6.97 $1.5M-$2M 10.86 7 8.55 9.06 8.68 9.44 9.19 8.8 8.5 7.53 7.27 6.25 $2M-$3M 15.27 8.64 9.72 10.2 9.96 12.24 13.8 12.6 12.12 11.76 13.08 11.64 $3M-$4M 21.82 12.4 13.77 16.22 17.55 20.88 22.66 22 20.22 20.22 22 19.77 $4M-$5M 37.33 17.5 16.5 18.5 21.5 27.5 28 27.5 23.5 21.99 24 24.5 $5M-$7.5M 30.92 19.4 20.47 20.47 20.82 23.64 25.76 26.82 26.47 24 26.11 24.7 $7.5M-$10M 57 25.84 22.15 22.15 25.84 26.76 31.38 33.2 32.3 25.84 26.76 27.69 $10M+ 40.21 36 36.85 40.28 38.57 36 38.57 36 31.71 29.14 39.42 40.28 **to calculate months on average in this chart I used the full year of 2012 sold properties in each price range   In the chart above the numbers we have tracked to decide the months on average have been based on last year's sold numbers.  I find it very interesting when comparing the two charts that the under $3M market is even tighter and the over $3M is even slower when you use this year's sold numbers vs last years.  As you see below the $1M-$1.5M and $2M-$3M range has decreased over the last couple of weeks. Price Range 8/30/13 9/30/13 10/31/13 0-$500K 4.26 4.4 5.2 $500K-$1M 4.65 4.9 4.6 $1M-$1.5M 4.96 5.2 4.6 $1.5M-$2M 5.61 5.6 5.1 $2M-$3M 7.84 9.1 8.3 $3M-$4M 20.22 23.4 21.3 $4M-$5M 22 23.9 25.3 $5M-$7.5M 40.8 31.6 26.4 $7.5M-$10M 44.8 52.1 58.8 $10M+ 272 103.2 92.1 ** to calculate months on average in this chart I used year to date sold properties in each price range. Obviously the months on average were the lowest at the end of the year 2012.  The uncertainty of the fiscal cliff, as well as the election (most properties that closed in December were negotiated before election was finalized), and uncertainty of taxes.  Not to mention if people are going to take their house off of the market they will tend to do it over the holidays.   Open Houses November 24th      Below are all of the Greenwich Open Houses for Sunday.    Address Town Price Time Office 1535 Putnam Avenue #301 Old Greenwich $300K 12-2 p.m. Raveis 98 Valley Road #2 Greenwich $469K 1-3 p.m. Raveis 16 Putnam Park Greenwich $480K 1-3 p.m. Weichert 53 William Street #A Greenwich $725K 1-4 p.m. Berkshire 561 River Road Cos Cob $799K 1-4 p.m. Raveis 40 Ettl Lane #14 Greenwich $875K 1-3 p.m. Weichert 31 Scott Road Greenwich $879.5K 1-3 p.m. Weichert 82 Northfield Street #A Greenwich $928K 1-4 p.m. Berkshire 123 East Elm Street Greenwich $1.195M 1-3 p.m. Coldwell 469 Taconic Road Greenwich $1.733M 1-3 p.m. Weichert 55 Shore Road Old Greenwich $2.349M 1-4 p.m. Weichert 72 Shore Road Old Greenwich $3.275M 1-3 p.m. Raveis 279 Stanwich Road Greenwich $3.495M 1-3 p.m. Raveis 16 Binney Lane Old Greenwich $3.745M 1-3 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 Manhatan, and in Greenwich I prefer Treena David-Chirico of Wells Fargo. 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.