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

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

I will be traveling celebrating my 10 year Anniversary next week so will not be sending a newsletter.  Enjoy the start of summer. The above colonial is located at 17 Candlelight Place.  This house is located in the Byram section of Greenwich.  It has water views of the Byram River and was built in 2008.  There are four bedrooms, three full baths, and two half baths.  The house is listed as 5,400 s.f. and sits on .86 of an acre.  This house has been on the market for 596 days.  However, with it being a relatively new build, having amenities such as a swimming pool, expansive deck, dock on the Byram River partial heated driveway for the winter, I imagine the sellers are motivated.  The price tag is $2.295M. For the first time in several weeks the total inventory shrunk.  We went from 716 properties last week to 698 properties for sale this week. This is a great sign for the overall market.  I feel like this is a few weeks before we started to see inventory fall vs last year.  The biggest change was in the $2M to $3M range.  We dropped from 112 to 102 properties.  This is something we should continue to monitor.  As you know, the under $2M range has been a seller's market, where the over $2M range has been more of a buyer's market.  You can see the month on average chart above the open house list to see the difference.  I believe the frenzy under $2M has to move into the higher price ranges soon as the lack of inventory under $2M.  We may be seeing the first signs of that now. Feel free to compare the numbers of month on average, the sold by price range percentages, and new listing vs. sold numbers with previous issues at  www.greenwichrealestateguy.com/blog.   I have updated the Activity Report as well as the neighborhood data.  It is as of up June 4th now.  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      I would like to thank Mark Pruner for mentioning me in the Greenwich Patch.  Mark also does his own synopsis of the Greenwich Market at www.greenwichstreets.com.  I have updated the mortgage information on the bottom of the newsletter as well. 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 Finally we see inventory drop.  In the last week we had 18 properties sold and 20 new listings.  Most importantly, the total inventory dropped to 698 properties.  June 2011 was a spike in Sold, because of legislation, that changed the tax benefits. New Listings The new listings slowed a little, which helped the overall market, but we are still on pace compared to recent years.    Year to Date Sold  Year to date we have sold 314 properties.    As you can see when comparing to previous issues of the newsletter (you can find them at www.greenwichrealestateguy.com/blog) the $2M-$3M range grew to 15% of the total properties sold.  That is three percentage points in three weeks.       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.    Reiterating the point above the $2M to $3M range has seen a real drop over the last few weeks. Price Range 12-Jun 1/5/13 2/1/13 2/22/13 3/22/13 4/26/13 5/31/13 6/14/13 0-$500K 6.36 4.96 5.76 5.28 5.12 4.95 5.76 5.92 $500K-$1M 7.98 3.88 4.22 4.22 4.72 5.11 5.5 5.88 $1M-$1.5M 11.48 7.22 7.34 7.1 7.22 8.2 9.3 9.3 $1.5M-$2M 10.86 7 8.55 9.06 8.68 9.44 9.19 9.31 $2M-$3M 15.27 8.64 9.72 10.2 9.96 12.24 13.8 12.24 $3M-$4M 21.82 12.4 13.77 16.22 17.55 20.88 22.66 22 $4M-$5M 37.33 17.5 16.5 18.5 21.5 27.5 28 25.5 $5M-$7.5M 30.92 19.4 20.47 20.47 20.82 23.64 25.76 26.11 $7.5M-$10M 57 25.84 22.15 22.15 25.84 26.76 31.38 32.3 $10M+ 40.21 36 36.85 40.28 38.57 36 38.57 36.86  **to calculate months on average I used the full year of 2012 sold properties in each price range Obviously the months on average were the lowest at the end of the year.  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 June 16th      Below are all of the Greenwich Open Houses for Sunday.  Happy Father's Day!  Thank you to Rob Pulitano for sending me the list of open houses so I can add the links.   Address Town List Price Time Broker 1 North Street Cos Cob $630K 1-3 PM Shore & Cntry 1050 King Street Greenwich $1.469M 1:30-3:30 PM Weichert 4 Florence Road Riverside $1.495M 1-4 PM Raveis 52 Benjamin Street Old Greenwich $1.575M 1-4 PM Prudential 61 Shore Road Old Greenwich $1.75M 2-4 PM Coldwell Bnkr 164 Dolphin Cove Quay Stamford $2.065M 2-4 PM Prudential 23 Laurel Lane Greenwich $2.395M 2-4 PM Halstead 30 Sherwood Avenue Greenwich $2.85M 1-4 PM Prudential 119 Doubling Road Greenwich $2.895M 1-4 PM Raveis 59 Hillside Drive Greenwich $2.988M 1-4 PM Raveis 21 Mackenzie Glen Greenwich $3.1M 2-4 PM Ogilvy   Mortgage Information The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of First Republic in the city and Iliad Estrada of Connecticut Home Mortgage. Jeff can be reached at 646-372-5181. Rates below courtesy of Iliad Estrada.  She can be reached at 203-637-6202. Product Interest Rates Annual Percentage Rate 15 YR Fixed Conforming 2.625% 2.863% 30 YR Fixed Conforming 3.625% 3.793% 30 Year Fixed Agency  Jumbo n/a n/a 30 YR  Fixed Jumbo 3.875% 3.999% 5/1 YR ARM Conforming 2.125% 2.789% 5/1 YR ARM Jumbo 2.125% 2.769% 10/1 YR ARM Jumbo 2.875% 2.995%

Greenwich CT, Residential Real Estate Blog and Analysis: June 7th

Greenwich, CT Residential Real Estate Blog and Analysis:  June 7th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

The above colonial is located at 191 Lake Avenue.  Touring this house, I was struck by the way the owner was able to renovate giving the home a newer feel but keeping a lot of period details that truly added to the character of the home.  I love the old doors with the keyholes imbedded in the square brass fronts.  The home is four bedrooms with 2 full baths and 2 half baths.  It is listed as 1,924 s.f. and sits on .2 of one acre of land.  Some of the renovations I mentioned include, two baths, the kitchen, along with a new compressor and A/C unit.  It is a few blocks from library, Greenwich Avenue, etc.  The listing price is $1.493M. I want to thank a couple of you who reached out over the past two weeks in regards to some of the information you would like to see.  Based on those conversations, 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   The inventory grew again in the past two weeks.  We have 716 properties, only six more than we did last week.  I like the numbers this week the growth in inventory seems to be in the lower price range where we need them to be and the higher price ranges inventory stayed flat.  Feel free to compare the numbers of month on average, the sold by price range percentages, and new listing vs. sold numbers with previous issues atwww.greenwichrealestateguy.com/blog.    I would like to thank Mark Pruner for mentioning me in the Greenwich Patch.  Mark also does his own synopsis of the Greenwich Market at www.greenwichstreets.com.  I have updated the mortgage information on the bottom of the newsletter as well.  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     Best,                                                                                                                                                         Jared Randall                                                Join my Mailing List Prudential CT, Greenwich Office                  Search Properties www.greenwichrealestateguy.com              Forward to a Friend cell:  203-273-1034                                       View My Website email:  jaredrandall@prudentialct.com        Like me on Facebook

Properties Sold   We continue to see the same trends.  29 Sold properties in the first week of June is great.  We are also seeing a lot of new properties come on the market.   New Listings The $4M to $5M range had the best week going from 56 properties to 51 properties.    Year to Date Sold  Year to date we have sold 297 properties.    As you can see when comparing to previous issues of the newsletter (you can find them at www.greenwichrealestateguy.com/blog) the $2M-$3M range grew from 12% to 14% of the total properties sold just in the past two weeks where we saw nine new properties sold.     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.    I believe this shows our market the best.   Price Range 12-Jun 1/5/13 2/1/13 2/22/13 3/22/13 4/26/13 5/31/13 6/6/13 0-$500K 6.36 4.96 5.76 5.28 5.12 4.95 5.76 6.24 $500K-$1M 7.98 3.88 4.22 4.22 4.72 5.11 5.5 5.83 $1M-$1.5M 11.48 7.22 7.34 7.1 7.22 8.2 9.3 9.67 $1.5M-$2M 10.86 7 8.55 9.06 8.68 9.44 9.19 9.57 $2M-$3M 15.27 8.64 9.72 10.2 9.96 12.24 13.8 13.44 $3M-$4M 21.82 12.4 13.77 16.22 17.55 20.88 22.66 22.44 $4M-$5M 37.33 17.5 16.5 18.5 21.5 27.5 28 25.5 $5M-$7.5M 30.92 19.4 20.47 20.47 20.82 23.64 25.76 25.76 $7.5M-$10M 57 25.84 22.15 22.15 25.84 26.76 31.38 31.38 $10M+ 40.21 36 36.85 40.28 38.57 36 38.57 38.57  **to calculate months on average I used the full year of 2012 sold properties in each price range Obviously the months on average were the lowest at the end of the year.  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 June 2nd      Enjoy the Memorial Weekend.  Below are all of the Greenwich Open Houses for Sunday.  Thank you to Rob Pulitano for sending me the list of open houses so I can add the links.  I will be at the open house for my listing 30 Montgomery, so please come by and say hi if in the area. Address Town List Price Time Broker 351 Pemberwick Rd #813 Greenwich $349K 1-3 PM Keller Williams 2 Cary Road Riverside $429K 2-4 PM Coldwell Bnkr 50 Lafayette Place #3G Greenwich $449K 12:30-2:30 PM William Pitt 1465 E Putnam Ave #122 Old Greenwich $449.5K 2-4 PM Coldwell Bnkr 51 Old Kings Hwy #8 Old Greenwich $485K 1-4 PM Coldwell Bnkr 72 Putnam Park #72 Greenwich $549K 1-4 PM Weichert 21 High Street Greenwich $579K 2-4 PM Coldwell Bnkr 4 Hines Lane Riverside $599K 2-4 PM Coldwell Bnkr 27 Byram Terrace Drive Greenwich $609K 12-3 PM RAVE01 102 River West #102 Greenwich $689K 1-4 PM PRCT01 69 Richland Road #A Greenwich $699K 1-3 PM RAVE01 13 Fletcher Avenue Greenwich $699K 1-3 PM Weichert 51 Forest Ave #127 Old Greenwich $710K 2-4 PM GRFP01 75 Sheephill Road Riverside $789K 1-3 PM Coldwell Bnkr 22 Georgetowne N. #22 Greenwich $945K 1-4 PM Edwards 28 Bonwit Road Riverside $949K 1-3 PM Coldwell Bnkr 52 Sherwood Place #3 Greenwich $975K 12-3 PM ROUN01 282 Bruce Park Ave #1 Greenwich $1.039M 2-4 PM Coldwell Bnkr 35 E Lyon Farm Dr #35 Greenwich $1.095M 1-3 PM Coldwell Bnkr 107 Stanwich Road Greenwich $1.095M 1-3 PM GRFP01 47 Sachem Lane Greenwich $1.15M 2-4 PM Coldwell Bnkr 17 Davenport Ave Greenwich $1.195M 2-4 PM RAVE01 86 Lower Cross Rd Greenwich $1.199M 1-3 PM Weichert 50 Bedford Road Greenwich $1.2M 1-3 PM Coldwell Bnkr 21 Mallard Drive Greenwich $1.25M 1-4 PM Coldwell Bnkr 51 Circle Drive Greenwich $1.295M 1-3 PM Coldwell Bnkr 1050 King Street Greenwich $1.469M 2-4 PM Weichert 69 Stanwich Road Greenwich $1.475M 1-3 PM Coldwell Bnkr 70 North Street Greenwich $1.595M 1-3 PM Ogilvy 48 Orchard Street Cos Cob $1.595M 1-3 PM PRCT01 633 Steamboat Road #1 Greenwich $1.65M 1-3 PM Coldwell Bnkr 16 Manor Road Old Greenwich $1.699M 1-4 PM PRCT01 57 Hillside Drive Greenwich $1.739M 2-4 PM Coldwell Bnkr 178 Milbank Avenue Greenwich $1.75M 2-4 PM GRFP01 320 Valley Road Cos Cob $1.795M 2-4 PM Coldwell Bnkr 149 Shore Road Old Greenwich $1.995M 1-4 PM Coldwell Bnkr 164 Dolphin Cove Quay Stamford $2.065M 1-4 PM PRCT01 31 Chapel Lane Riverside $2.145M 1-3 PM SCPR01 51 Dolphin Cove Quay Stamford $2.15M 1-4 PM PRCT05 10 Boyd Lane Riverside $2.178M 1-3 PM Coldwell Bnkr 184 Shore Road Old Greenwich $2.2M 1-4 PM Coldwell Bnkr 55 Shore Road Old Greenwich $2.25M 1-3 PM Coldwell Bnkr 18 Flying Cloud Road Stamford $2.325M 1-4 PM PRCT01 182 Dolphin Cove Quay Stamford $2.375M 1-4 PM PRCT05 335 Valley Road Cos Cob $2.375M 1-4 PM RAVE01 14 Joshua Slocum Dock Stamford $2.45M 1-4 PM PRCT01 22 Welwyn Road Riverside $2.499M 2-4 PM Coldwell Bnkr 30 Sherwood Avenue Greenwich $2.85M 2-4 PM PRCT01 45 Cedar Cliff Riverside $2.895M 1-4 PM Sotheby's 187 Shore Road Old Greenwich $3.195M 1-4 PM Coldwell Bnkr 242 Dolphin Cove Quay Stamford $3.285M 1-4 PM PRCT01 240 Riverside Avenue Riverside $3.299M 1-3 PM Coldwell Bnkr 7 Middle Way Old Greenwich $3.45M 1-3 PM Coldwell Bnkr 36 Brookridge Drive Greenwich $3.475M 1-4 PM PRCT01 1076 Lake Avenue Greenwich $3.495M 2-4 PM Coldwell Bnkr 12 East Point Lane Old Greenwich $3.6M 1-4 PM RAVE01 35 Willow Road Riverside $3.695M 3-5 PM Coldwell Bnkr 1200 Lake Avenue Greenwich $3.85M 1-3 PM PRCT01 33 Ballwood Road Old Greenwich $3.895M 2-4 PM GRFP01 5 Sylvan Lane Old Greenwich $3.895M 1-3 PM RAVE01 10 Spring House Road Greenwich $3.995M 2-4 PM Coldwell Bnkr 56 Milbank Avenue #B Greenwich $4.295M 2-4 PM Coldwell Bnkr 25 Nawthorne Road Old Greenwich $4.45M 1-4 PM RAVE02 Mortgage Information The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of First Republic in the city and Iliad Estrada of Connecticut Home Mortgage. Jeff can be reached at 646-372-5181. Rates below courtesy of Iliad Estrada.  She can be reached at 203-637-6202. Product Interest Rates Annual Percentage Rate 15 YR Fixed Conforming 2.625% 2.863% 30 YR Fixed Conforming 3.625% 3.793% 30 Year Fixed Agency  Jumbo n/a n/a 30 YR  Fixed Jumbo 3.875% 3.999% 5/1 YR ARM Conforming 2.125% 2.789% 5/1 YR ARM Jumbo 2.125% 2.769% 10/1 YR ARM Jumbo 2.875% 2.995%

Greenwich CT, Residential Real Estate Blog and Analysis: May 31st

Greenwich, CT Residential Real Estate Blog and Analysis:  May 31st A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com I started this blog/newsletter to help educate sellers and buyers about the market.  I believe one of the ways to do this is from time to time to have the feature property be a home that I sold so that I can provide insight.  The above colonial is located at 3 Byfield Lane.  I had the pleasure of representing the buyers in the transaction.  Numerous times I come across homes my clients are interested in that are in the AOCTS (Accepted Offer Continue to Show) status.  This house matched up with so many of my client's wants that we pushed to see the house if for no other reason to understand the price points when it did sell as there was an accepted offer on the property.  Two weeks later when the deal had fallen through, we were the first to get the call that it was coming back on the market.  The Saturday we saw the property there were six appointments, four of which who had seen the property before.  However, because of a few extra steps my clients and I took, we were able to differentiate ourselves into the seller's top choice.  We negotiated back and forth all day Monday, and by that Friday we were in contracts.  The property was listed for $2.195M and we were able to procure the property at a 93.3% sold to list price percentage.  The average in Greenwich year to date is 92.8%.  Even with all of the interest and multiple offers we were able to purchase at the average rate.  If you would like more specific information about this or any other properties please do not hesitate to call or email. I want to thank a couple of you who reached out over the past two weeks in regards to some of the information you would like to see.  Based on those conversations, 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   I also toured 499 Indian Field Road, which is for sale for $190M, this past week.  It was a great experience capped by the basement where I stumbled across a room full of coal from years ago, that was used to heat the boiler as well as the laundry room flanked with drying racks for the clothes.  The acres of shoreline property, the grounds, and the private island, were breathtaking.   The inventory grew again in the past two weeks.  We have 710 properties, 23 more than we did two weeks ago.  Twenty three is not a tremendous growth over two weeks and the fact that 19 of the 23 came in the 0-$1.5M range actually helped the market, as those are the ranges we need inventory the most.  Feel free to compare the numbers of month on average, the sold by price range percentages, and new listing vs. sold numbers with previous issues at www.greenwichrealestateguy.com/blog. I would like to thank Mark Pruner for mentioning me in the Greenwich Patch.  Mark also does his own synopsis of the Greenwich Market at www.greenwichstreets.com.  I have updated the mortgage information on the bottom of the newsletter as well. 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     Best,                                                                                                                                                         Jared Randall                                                Join my Mailing List Prudential CT, Greenwich Office                  Search Properties www.greenwichrealestateguy.com              Forward to a Friend cell:  203-273-1034                                       View My Website email:  jaredrandall@prudentialct.com        Like me on Facebook     Properties Sold   As one can see from above we had a tremendous May in regards to sold properties.  We finished the month with 88 properties sold.  The last closest was 2011 where we had 70.   New Listings We have to balance the sold properties with the inventory.  I believe the true indicator of the market will always come down to supply vs. the demand.  The past two weeks were actually positive for the overall market.  We had the inventory grow from 687 to 710.  However, most of that growth was in the zero to 1.5M range where we needed it.  In that range there are 19 more properties than there were two weeks ago.  Compared to the $1.5M-$5M range the inventory actually shrank by 2 properties.    Year to Date Sold  Year to date we have sold 269 properties.  As you can see when comparing to previous issues of the newsletter (you can find them at www.greenwichrealestateguy.com/blog) the $2M-$3M range grew from 12% to 14% of the total properties sold just in the past two weeks where we saw nine new properties sold.     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.    I believe this shows our market the best.   Price Range 12-Jun 1/5/13 2/1/13 2/22/13 3/22/13 4/26/13 5/31/13 0-$500K 6.36 4.96 5.76 5.28 5.12 4.95 5.76 $500K-$1M 7.98 3.88 4.22 4.22 4.72 5.11 5.5 $1M-$1.5M 11.48 7.22 7.34 7.1 7.22 8.2 9.3 $1.5M-$2M 10.86 7 8.55 9.06 8.68 9.44 9.19 $2M-$3M 15.27 8.64 9.72 10.2 9.96 12.24 13.8 $3M-$4M 21.82 12.4 13.77 16.22 17.55 20.88 22.66 $4M-$5M 37.33 17.5 16.5 18.5 21.5 27.5 28 $5M-$7.5M 30.92 19.4 20.47 20.47 20.82 23.64 25.76 $7.5M-$10M 57 25.84 22.15 22.15 25.84 26.76 31.38 $10M+ 40.21 36 36.85 40.28 38.57 36 38.57  **to calculate months on average I used the full year of 2012 sold properties in each price range Obviously the months on average were the lowest at the end of the year.  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 June 2nd      Enjoy the Memorial Weekend.  Below are all of the Greenwich Open Houses for Sunday.  Thank you to Rob Pulitano for sending me the list of open houses so I can add the links.  I will be at the open house for my listing 30 Montgomery, so please come by and say hi if in the area. Address Town List Price Time Broker 1535 E. Putnam Ave #405 Old Greenwich $225K 2-4 PM Halstead 193 Putnam Park #193 Greenwich $470K 2-4 PM Coldwell Bnkr 98 Riverdale Avenue Ext. Greenwich $625K 1- 4 PM Prudential 98 Putnam Park Greenwich $629K 2-4 PM Raveis 28 Riversville Road Greenwich $649K 1-3 PM Coldwell Bnkr 13 Fletcher Avenue Greenwich $699K 1-3 PM Weichert 75 Richland Road #B Greenwich $750K 1- 4 PM Prudential 3 Green Lane Greenwich $750K 2-4 PM F.F. Rlty 10 Fairfield Avenue #A Old Greenwich $795K 1-3 PM Coldwell Bnkr 80 Silo Circle Riverside $879K 2-4 PM Weichert 51 Forest Avenue #36 Old Greenwich $989K 2-4 PM Raveis 35 E Lyon Farm Drive #35 Greenwich $1.095M 1- 4 PM Coldwell Bnkr 17 Davenport Avenue Greenwich $1.195M 1-3 PM Raveis 15 E. Lyon Farm Drive Greenwich $1.245M 1-3 PM Sotheby's 51 Circle Drive Greenwich $1.295M 1-3 PM Coldwell Bnkr 2 Revere Road Riverside $1.395M 1-3 PM Coldwell Bnkr 104 Stonehedge Dr No Greenwich $1.499M 1- 4 PM Prudential 111 Lake Avenue Greenwich $1.545M 1-4 PM New England Land 11 Steep Hollow Lane Cos Cob $1.56M 1- 4 PM Coldwell Bnkr 11 Londonderry Drive Greenwich $1.595M 2-4 PM Raveis 51 North Stanwich Road Greenwich $1.625M 1-3 PM Prudential 25 Rustic View Road Greenwich $1.775M 1- 4 PM Prudential 320 Valley Road Cos Cob $1.795M 2-4 PM Coldwell Bnkr 75 Harding Road Old Greenwich $1.975M 2-4 PM Coldwell Bnkr 149 Shore Road Old Greenwich $1.995M 1-5 PM Prudential 30 Montgomery Lane Greenwich $2.35M 1- 4 PM Prudential 12 Ricki Beth Lane Old Greenwich $2.35M 1-3 PM Prudential 335 Valley Road Cos Cob $2.375M 1-3 PM Raveis 16 Lakeview Drive Riverside $2.595M 1- 4 PM Prudential 31 Fairfield Road Greenwich $2.595M 2-4 PM Prudential 15 Palmer Terrace Riverside $2.599M 1-3 PM Raveis 22 Welwyn Road Riverside $2.599M 2-4 PM Coldwell Bnkr 30 Sherwood Avenue Greenwich $2.85M 1-3 PM Prudential 127 Dingletown Road Greenwich $2.995M 1-4 PM Raveis 76 Cat Rock Road Cos Cob $3.295M 1- 4 PM Coldwell Bnkr 900 Lake Avenue Greenwich $3.295M 1-3 PM Raveis 7 Middle Way Old Greenwich $3.45M 1-3 PM Coldwell Bnkr 514 Riversville Road Greenwich $3.55M 1-3 PM Sotheby's 15 Dearfield Drive Greenwich $3.595M 1-4 PM Prudential 29 Byfield Lane Greenwich $3.7M 1-3 PM Raveis 10 Spring House Road Greenwich $3.995M 1-3 PM Coldwell Bnkr   Mortgage Information The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of First Republic in the city and Iliad Estrada of Connecticut Home Mortgage. Jeff can be reached at 646-372-5181. Rates below courtesy of Iliad Estrada.  She can be reached at 203-637-6202. Product Interest Rates Annual Percentage Rate 15 YR Fixed Conforming 2.625% 2.863% 30 YR Fixed Conforming 3.625% 3.793% 30 Year Fixed Agency  Jumbo n/a n/a 30 YR  Fixed Jumbo 3.875% 3.999% 5/1 YR ARM Conforming 2.125% 2.789% 5/1 YR ARM Jumbo 2.125% 2.769% 10/1 YR ARM Jumbo 2.875% 2.995%

What does $190,000,000 get you in Greenwich????

I am taking a tour of the most expensive property on the market in Greenwich today.  I will let you know how it goes :)

499 Indian Field Point

Greenwich CT, Residential Real Estate Blog and Analysis: May 24th

Greenwich, CT Residential Real Estate Blog and Analysis:  May 24th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com With a lot of people traveling this weekend I have just updated the open house list.  Enjoy the weekend, and let's hope the weather turns for the better.  We have had a lot of new subscribers to the newsletter over the last couple of months.  Hence, I am featuring my listing at 30 Montgomery Lane.  This home is all about location.  It takes me eight minutes to drive to the Whole Foods and the top of Greenwich Avenue from this house. The house is in the North Street Elementary district.  It sits on 1.44 acres of land and is located on a cul-de-sac off of Stanwich Road in the historic Wild Acres, which was owned by the Montgomery's.  One of the most beautiful aspects is that at the end of the cul-de-sac is the entrance to the Montgomery Pinetum Park.  This park is a 91 acres of walking trails, nature, and contains the Greenwich Garden Center.  The house was expanded and renovated in 1994, with the walk out Au-Pair Suite renovated last year.  There are 5 bedrooms, with four, and one half baths.  There are 4,470 s.f. of living space including a basement with a beautiful fireplace and kitchenette. I also wanted to take the opportunity today to discuss the market.  If you have read the analysis part of the newsletter you see there are two different distinct markets in Greenwich currently.  The under $2M market and the over $2M market.  I always say the market is as simple as supply and demand.  If we look at just a month ago.  Week ending April 12th we had 123 properties under $1M on the market.  Today we have 120 properties under $1M.  While the $2M-$3M range week ending April 12th we had 91 properties and in the $3M-$4M range we had 80 homes on the market.  Today we have 117 in the $2M-$3M range and 10 in the $3M-$4M range.  Hence, we have declined in the under $1M range and have grown 27% inventory in just the last month in the $2M-$4M range.  This tells me that now is a great time to move price ranges.  If you can sell your house and buy in a higher price range now is the time to do so.  Also, for the buyers out there, I have closed three deals in the last six months that have had multiple offers.  I strongly believe there are ways to make yourself more appealing to the sellers than overpaying.  In all three instances the buyers I represented either had the same offer or a less appealing offer than other bidders and my clients got the house each time.  I believe it is important to be creative when dealing with multiple offers. For fun, we also had a $190 Million dollar property come on the market.  Yes, that is correct, not a typo.  Here is the link of 499 Indian Field Road. The inventory grew again in the past two weeks.  We have 687 properties, 23 more than we did two weeks ago.  Twenty three is not a tremendous growth over two weeks and was helped by the fact we had 50 properties sold over the past two weeks.  We also had 100 new properties added to the market over the past two weeks.  Feel free to compare the numbers of month on average, the sold by price range percentages, and new listing vs. sold numbers with previous issues at www.greenwichrealestateguy.com/blog.    As always, if you have a house in mind you would like to see, please do not hesitate to call me.   I would like to thank Mark Pruner for mentioning me in the Greenwich Patch.  Mark also does his own synopsis of the Greenwich Market at www.greenwichstreets.com.  I have updated the mortgage information on the bottom of the newsletter as well. 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     Best,                                                                                                                                                         Jared Randall                                                Join my Mailing List Prudential CT, Greenwich Office                  Search Properties www.greenwichrealestateguy.com              Forward to a Friend cell:  203-273-1034                                       View My Website email:  jaredrandall@prudentialct.com        Like me on Facebook     Properties Sold   Continuing the trend we saw in April, we have had a great couple of weeks of May as we have had 54 properties sell so far in May.  Whereas, last year we only had 62 sell for the whole month. New Listings We have to balance the sold properties with the inventory.  I believe the true indicator of the market will always come down to supply vs. the demand.  Again, as seen above continuing the trend we are seeing more inventory come into the market than in past years.  We have had 100 new listings so far this month.  Whereas, we had 120 in all of May in 2011.    Year to Date Sold  Year to date we have sold 236 properties.  As you can see when comparing to previous issues of the newsletter (you can find them at www.greenwichrealestateguy.com/blog) the under $2M continues to increase market share of the sold properties, while over $2M continues to decrease.  As you can see between these two graphs the $3M-$4M range has only accounted for 7% of the properties sold this year, but accounts for 15% of all of the properties on the market currently.  Conversely the 0-$500K price range is 4% of the current available property but 14% of the properties that have sold.     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.    I believe this shows our market the best.  The under $2M continues to be competitive with the beginning of this year (in my opinion was the lowest months on average for the market) while the over $2M continues to grow. Price Range 12-Jun 1/5/13 2/1/13 2/22/13 3/22/13 4/26/13 5/17/13 0-$500K 6.36 4.96 5.76 5.28 5.12 4.95 5.12 $500K-$1M 7.98 3.88 4.22 4.22 4.72 5.11 4.89 $1M-$1.5M 11.48 7.22 7.34 7.1 7.22 8.2 8.82 $1.5M-$2M 10.86 7 8.55 9.06 8.68 9.44 9.45 $2M-$3M 15.27 8.64 9.72 10.2 9.96 12.24 14.04 $3M-$4M 21.82 12.4 13.77 16.22 17.55 20.88 22.44 $4M-$5M 37.33 17.5 16.5 18.5 21.5 27.5 27.5 $5M-$7.5M 30.92 19.4 20.47 20.47 20.82 23.64 24 $7.5M-$10M 57 25.84 22.15 22.15 25.84 26.76 29.53 $10M+ 40.21 36 36.85 40.28 38.57 36 39.42    **to calculate months on average I used the full year of 2012 sold properties in each price range Obviously the months on average were the lowest at the end of the year.  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 May 26th      Enjoy the Memorial Weekend.  Below are all of the Greenwich Open Houses for Sunday.  Thank you to Rob Pulitano for sending me the list of open houses so I can add the links.  Address Town List Price Time Broker 149 Shore Road Old Greenwich $1.995M 1-4 PM Prudential 12 Wyckham Hill Greewich $2.395M 12-2 PM Sotheby's 15 Palmer Terrace Riverside $2.699M 1-3 PM Raveis 56 Milbank Avenue #B Greewich $4.295M 2-4 PM Coldwell Bnkr   Mortgage Information The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of First Republic in the city and Iliad Estrada of Connecticut Home Mortgage. Jeff can be reached at 646-372-5181. Rates below courtesy of Iliad Estrada.  She can be reached at 203-637-6202. CT Mortgage Rates Product Interest Rates Annual Percentage Rate 15 YR Fixed Conforming 2.625% 2.863% 30 YR Fixed Conforming 3.375% 3.539% 30 Year Fixed Agency  Jumbo n/a n/a 30 YR  Fixed Jumbo 3.750% 3.872% 5/1 YR ARM Conforming 2.125% 2.842% 5/1 YR ARM Jumbo 2.250% 2.864% 10/1 YR ARM Jumbo 3.000% 3.103% Updated February 14, 2013