Greenwich CT, Residential Real Estate Blog and Analysis: May 17th

Greenwich, CT Residential Real Estate Blog and Analysis:  May 17th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com 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 atwww.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 19th      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 87 Perkins Road on Sunday from 1-4 p.m. so please come by and introduce yourself. Address Town List Price Time Broker 34 Saddle Rock Road Stamford $13.5K 12-2 PM Prudential 212 Taconic Road Greenwich $16.9K 1-4 PM Prudential 2 Homestead Lane #112 Greenwich $345K 1-3 PM Coldwell Bnkr 2 Homestead Lane #406 Greenwich $399K 2-4 PM Raveis 2 Cary Road Riverside $429K 2:30-4:30 PM Coldwell Bnkr 1465 E Putnam Avenue #122 Old Greenwich $449.5K 2-4 PM Coldwell Bnkr 193 Putnam Park #193 Greenwich $470K 2-4 PM Coldwell Bnkr 453 E Putnam Avenue #3A Cos Cob $495K 2-4 PM Coldwell Bnkr 21 Cary Road Riverside $499K 12-2 PM Coldwell Bnkr 14 Sound Beach Avenue Old Greenwich $569K 2-4 PM Raveis 1 Shore Road #15 Greenwich $570K 1-4 PM Sotheby's 35 Pemberwick Road #2 Greenwich $599K 1-3 PM Coldwell Bnkr 20 Hawthorne Street South Greenwich $630K 1-3 PM Coldwell Bnkr 88 Southfield Avenue #203 Stamford $648K 1-4 PM Prudential 1 Douglas Drive Greenwich $649K 1-4 PM Prudential 23 Hoover Road Riverside $649K 1-4 PM Raveis 265 Bruce Park Avenue  Greenwich $749K 2-4 PM Coldwell Bnkr 3 Green Lane Greenwich $750K 2-4 PM FF Rlty 17 Boulder Brook Drive Stamford $825K 1-4 PM Prudential 48 Hettiefred Road Greenwich $875K 1-4 PM Prudential 122 Riverside Avenue Riverside $985K 1-3 PM Prudential 64 Byram Shore Road Greenwich $1.05M 1-3 PM Shore & Cntry 35 E Lyon Farm Drive #35 Greenwich $1.095M 2-4 PM Coldwell Bnkr 63 Loughlin Avenue Cos Cob $1.1M 1-3 PM Coldwell Bnkr 7 Edgewood Drive Greenwich $1.1M 2-4 PM Coldwell Bnkr 58 Bowman Drive Greenwich $1.1M 1-3 PM Raveis 28 Home Place #A-1 Greenwich $1.129M 1-3 PM Raveis 18 Schubert Lane Cos Cob $1.149M 1-3 PM Prudential 17 Davenport Avenue Greenwich $1.195M 2-4 PM Raveis 24 Valleywood Road Cos Cob $1.25M 1-3 PM Raveis 64 Hawthorne Street N Greenwich $1.25M 2-4 PM Weichert 43 Long Meadow Road Riverside $1.299M 1-3 PM Coldwell Bnkr 631 Long Ridge Road #12 Stamford $1.375M 1-4 PM Prudential 171 Cognewaugh Road Cos Cob $1.395M 1-3 PM Prudential 1050 King Street Greenwich $1.249M 1-3 PM Weichert 104 Stonehedge Dr North Greenwich $1.499M 1-4 PM Prudential 496 Valley Road Cos Cob $1.595M 2-4 PM Sotheby's 191 Lake Avenue Greenwich $1.625M 1-4 PM Prudential 191 North Street Greenwich $1.675M 1-3 PM Coldwell Bnkr 6 Meadowbank Road Old Greenwich $1.75M 2-4 PM Raveis 43 Stag Lane Greenwich $1.785M 2-4 PM Sotheby's 57 Hillside Drive Greenwich $1.8M 2-4 PM Coldwell Bnkr 49 Byfield Lane Greenwich $1.995M 2-4 PM Coldwell Bnkr 14 Spruce Street Riverside $2.25M 2-4 PM Sotheby's 44 Orchard Place #A Greenwich $2.275M 2-4 PM Coldwell Bnkr 184 Shore Road Old Greenwich $2.35M 1-4 PM Coldwell Bnkr 335 Valley Road Cos Cob $2.375M 1-4 PM Raveis 74 Old Orchard Road Riverside $2.4M 1-4 PM Raveis 1361 King Street Greenwich $2.495M 2-4:30 PM Raveis 9 Paddock Street Greenwich $2.495M 2-4 PM Sotheby's 83 Burning Tree Road Greenwich $2.55M 2-4 PM Coldwell Bnkr 31 Fairfield Road Greenwich $2.595M 2-4 PM Prudential 15 Palmer Terrace Riverside $2.699M 1-4 PM Raveis 11 Byram Dock Street Greenwich $2.849M 2-4 PM Coldwell Bnkr 87 Perkins Road Greenwich $3.1M 1-4 PM Prudential 48 Lockwood Avenue Old Greenwich $3.295M 2-4 PM Raveis 35 Willow Road Riverside $3.695M 1-3 PM Coldwell Bnkr 124 Clapboard Ridge Greenwich $3.945M 2-4 PM Sotheby's 3 Cherry Blossom Lane Greenwich $3.949M 2-4 PM Coldwell Bnkr 212 Taconic Road Greenwich $4.395M 1-4 PM Prudential 1 Sparrow Lane Greenwich $4.495M 1-5 PM Paterina Prop 12 Baldwin Farms South Greenwich $5.7M 1-3 PM Sotheby's 421 Field Point Road Greenwich $6.95M 1-4 PM Prudential 23 Cliffdale Road Greenwich $6.95M 1-4 PM Sotheby's   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

Greenwich CT, Residential Real Estate Blog and Analysis: May 10th

Greenwich, CT Residential Real Estate Blog and Analysis:  May 10th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com Happy Mother's Day.  I have spent the weekend preparing my wife an 18 course meal, so this week the analysis is the same as last week :)  Due to Mother's Day there are only three open houses this week. They have been updated below.  Enjoy your family. The house I chose to feature this week is not just my favorite house of all of the properties I toured this week.  This is one of my favorites I have seen in months.  The above traditional shingle style home is located at 1 Brookside Park.  The location itself is second to none.  It is a few blocks to the grocery store, the library (which has phenomenal exhibits and events for children), and of course Greenwich Avenue.  The house was built in 2006, and sits on 1.23 acres.  There is a beautiful brook that runs through through the back yard which adds to the serenity of the yard.  With the backyard landscaping, the brook, and the serenity, it is difficult to believe you are just a block and a half from Putnam Avenue.  There are five bedrooms and 6 and one half baths.  The house has four fireplaces, plus a nice nook of a wine room, with a great flow throughout the house.  Personally the oversized lot, the closeness to town, the way the inside of the house was done, and the beautiful surroundings make it a top choice.  The price is $3.795M. The inventory grew again this week adding nine properties.  We had 51 new listings compared to 20 sold properties.  When looking at the charts below you will see we had an incredible April in the amount of sold properties compared to the previous three years.  We also had more new listings than the previous three years.  Hence, we have more inventory and more sales.  My opinion is it is a great sign we are outpacing last year, but that the market has not completely changed as inventory is still growing.  I believe the Months on average chart in the bottom of the newsletter is the best indicator of the market.  Last week the under $2M inventory stay flat, while the $2-$4M grew seven properties.  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   Notice the purple bar for April.  That is by far the biggest up tick in one month sold properties over prior years since December.  Personally, with December being so strong because of the political and tax uncertainties, I anticipated us to see a slow down in the first part of the year.  However, we saw the first quarter flat and are off to a huge second quarter. 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.  So, even though we have had incredible sold activity it does not mean it is a seller's market.  It means that the buyers are coming out and deals are being done.      Year to Date Sold  Year to date we have sold 191 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.  Currently, 73% of all properties that have sold this year are under $2M.     Year to Date Available    I feel it is important to compare the two charts.  However, this week there was not much change in the charts.  The under $500K dropped to 4% of inventory. 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 5/3/13 0-$500K 6.36 4.96 5.76 5.28 5.12 4.95 4.64 $500K-$1M 7.98 3.88 4.22 4.22 4.72 5.11 5.05 $1M-$1.5M 11.48 7.22 7.34 7.1 7.22 8.2 8.2 $1.5M-$2M 10.86 7 8.55 9.06 8.68 9.44 9.83 $2M-$3M 15.27 8.64 9.72 10.2 9.96 12.24 12.84 $3M-$4M 21.82 12.4 13.77 16.22 17.55 20.88 21.33 $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 23.29 $7.5M-$10M 57 25.84 22.15 22.15 25.84 26.76 26.76 $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 May 12th      Below are all of the Greenwich Open Houses for Sunday.  Thank you to Rob Pulitano for compiling the list of open houses for me each week.  Happy Mother's Day, Enjoy your family. Address Town List Price Time Broker 500 River Road #5 Cos Cob $1.02M 2-4 PM Prudential 4 Maher Court Greenwich $3.599M 3-5 PM Coldwell Bnkr  56 Milbank Avenue #B  Greenwich $4.295M 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. 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

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

Greenwich, CT Residential Real Estate Blog and Analysis:  May 3rd A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com   Dear Jared  The house I chose to feature this week is not just my favorite house of all of the properties I toured this week.  This is one of my favorites I have seen in months.  The above traditional shingle style home is located at 1 Brookside Park.  The location itself is second to none.  It is a few blocks to the grocery store, the library (which has phenomenal exhibits and events for children), and of course Greenwich Avenue.  The house was built in 2006, and sits on 1.23 acres.  There is a beautiful brook that runs through through the back yard which adds to the serenity of the yard.  With the backyard landscaping, the brook, and the serenity, it is difficult to believe you are just a block and a half from Putnam Avenue.  There are five bedrooms and 6 and one half baths.  The house has four fireplaces, plus a nice nook of a wine room, with a great flow throughout the house.  Personally the oversized lot, the closeness to town, the way the inside of the house was done, and the beautiful surroundings make it a top choice.  The price is $3.795M. The inventory grew again this week adding nine properties.  We had 51 new listings compared to 20 sold properties.  When looking at the charts below you will see we had an incredible April in the amount of sold properties compared to the previous three years.  We also had more new listings than the previous three years.  Hence, we have more inventory and more sales.  My opinion is it is a great sign we are outpacing last year, but that the market has not completely changed as inventory is still growing.  I believe the Months on average chart in the bottom of the newsletter is the best indicator of the market.  Last week the under $2M inventory stay flat, while the $2-$4M grew seven properties.  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        Properties Sold   Notice the purple bar for April.  That is by far the biggest up tick in one month sold properties over prior years since December.  Personally, with December being so strong because of the political and tax uncertainties, I anticipated us to see a slow down in the first part of the year.  However, we saw the first quarter flat and are off to a huge second quarter. 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.  So, even though we have had incredible sold activity it does not mean it is a seller's market.  It means that the buyers are coming out and deals are being done.      Year to Date Sold  Year to date we have sold 191 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.  Currently, 73% of all properties that have sold this year are under $2M.     Year to Date Available    I feel it is important to compare the two charts.  However, this week there was not much change in the charts.  The under $500K dropped to 4% of inventory. 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 5/3/13 0-$500K 6.36 4.96 5.76 5.28 5.12 4.95 4.64 $500K-$1M 7.98 3.88 4.22 4.22 4.72 5.11 5.05 $1M-$1.5M 11.48 7.22 7.34 7.1 7.22 8.2 8.2 $1.5M-$2M 10.86 7 8.55 9.06 8.68 9.44 9.83 $2M-$3M 15.27 8.64 9.72 10.2 9.96 12.24 12.84 $3M-$4M 21.82 12.4 13.77 16.22 17.55 20.88 21.33 $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 23.29 $7.5M-$10M 57 25.84 22.15 22.15 25.84 26.76 26.76 $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

Greenwich CT, Residential Real Estate Blog and Analysis: April 26th

Greenwich, CT Residential Real Estate Blog and Analysis:  April 26th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

Dear Jared  The above pictured colonial is located at 65 Lockwood Lane.  I thought this would be a good house to feature as it will show the difference in the market.  I am not sure if you remember but this house was on the market previously.  There was a small creek (mostly dry) that ran through the backyard.  This could be a concern for families.  So, the owner installed this nice fence and put it back on the market.  Previously, it was on for $1.895M and lowered a couple of times until it was withdrawn at $1.695M.  They installed this fence, did some landscaping, and added over twenty trees and have re-listed at $1.725M.  I personally love the fence and makes the house feel a lot more safe.  It backs up to the Riverside school so I could envision kids playing in the backyard then just continue on to the ball fields of the school.  I feel little things like adding a fence and trees can go a long way to making a house more desirable.  We shall see how it helps in this case. Another week of inventory growing.  Last week we had 44 new listings, this week we had 49.  That compares with 8 properties that sold last week.  Our total inventory grew from 637 to 655.  As you will notice in the charts below, the positive is even though new inventory is growing we surpassed the sold properties in April over the last four years.  Even though inventory is growing, we are still seeing the under $1M market sizzle, and the $1M-$2M market is still hot.  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   We have a few more days of April and have officially had more sales this April than the past four.  All in all good signs for the overall market.  Yes, inventory is growing but the market is more active than in recent years. New Listings I mentioned last week I expected things to slow down and inventory continue to be added.  As you see, the new listings are passing recent years as well.  So we have more inventory and more buyers than we have in the past.    Year to Date Sold  Year to date we have sold 171 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.  The $500K-$1M continues to dominate the market share growing from 24% to 27% of total properties sold year to date.  This is a huge number for one week.     Year to Date Available    I feel it is important to compare the two charts.  However, this week there was not much change in the charts. 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.  Every price range other than $0-$500K has grown in months on average to sell through the inventory.  This shows the best time to have been selling a house was December/January.  The positive is we have not reached the numbers in inventory of last year.   Price Range 12-Jun 1/5/13 2/1/13 2/22/13 3/22/13 4/26/13 0-$500K 6.36 4.96 5.76 5.28 5.12 4.95 $500K-$1M 7.98 3.88 4.22 4.22 4.72 5.11 $1M-$1.5M 11.48 7.22 7.34 7.1 7.22 8.2 $1.5M-$2M 10.86 7 8.55 9.06 8.68 9.44 $2M-$3M 15.27 8.64 9.72 10.2 9.96 12.24 $3M-$4M 21.82 12.4 13.77 16.22 17.55 20.88 $4M-$5M 37.33 17.5 16.5 18.5 21.5 27.5 $5M-$7.5M 30.92 19.4 20.47 20.47 20.82 23.64 $7.5M-$10M 57 25.84 22.15 22.15 25.84 26.76 $10M+ 40.21 36 36.85 40.28 38.57 36  **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 April 28th      Below are all of the Greenwich Open Houses for Sunday.  The first three are rentals. Thank you to Rob Pulitano for compiling the list of open houses for me each week.  1050 King Street will be having an open house.  However, it has not come on the market as of yet, so I cannot do a link.  Enjoy. Address Town List Price Time Broker 347 Riversville Road Greenwich $5.4K 1-4 PM Coldwell Bnkr 26 Ferncliff Road Cos Cob $5.95K 1-3 PM Coldwell Bnkr 16 Manor Road Old Greenwich $8.5K 1-4 PM Prudential 2 Cary Road Riverside $449K 2-4 PM Coldwell Bnkr 98 Riverdale Av Ext. Greenwich $625K 2-4 PM Prudential 69 Riverdale Ave #204 Greenwich $699K 2-4 PM Coldwell Bnkr 62 Valley Road Cos Cob $750K 2-4 PM Raveis 3 Green Lane Greenwich $750K 2-4 PM FF Rlty 75 Richland Road #B Greenwich $750K 1-4 PM Prudential 70 Riverdale Ave #801 Greenwich $799K 2-4 PM Coldwell Bnkr 26 Church Street Greenwich $829K 1-3 PM Higgens Grp 73 Weaver St #13 Greenwich $885K 1-4 PM Prudential 80 Silo Circle Riverside $899K 2-4 PM Weichert 5 West End Court Old Greenwich $970K 1-4 PM Prudential 35 E Lyon Farm Drive #35 Greenwich $1.095M 1-4 PM Coldwell Bnkr 3 Game Cock Road Greenwich $1.099M 2-4 PM Prudential 18 Schubert Lane Cos Cob $1.17M 1-4 PM Prudential 64 Hawthorn St. N. Greenwich $1.25M 2-4 PM Weichert 347 Riversville Road Greenwich $1.295M 1-4 PM Coldwell Bnkr 17 Davenport Avenue Greenwich $1.295M 2-4 PM Raveis 1050 King St Greenwich $1.325M 2-4 PM Weichert 631 Long Ridge Road #12 Stamford $1.375M 1-4 PM Prudential 286 Middle Patent Road Greenwich $1.446M 1-4 PM Coldwell Bnkr 82 Sheephill Road Riverside $1.595M 1-4 PM Prudential 26 Ferncliff Road Cos Cob $1.695M 1-3 PM Coldwell Bnkr 16 Manor Road Old Greenwich $1.799M 1-4 PM Prudential 191 North Street Greenwich $1.95M 1:30-3:30 Coldwell Bnkr 112 Taconic Road Greenwich $1.995M 1-4 PM Prudential 31 Chapel Lane Riverside $2.295M 1-3 PM Shore & Cntry Prop 184 Shore Road Old Greenwich $2.35M 1-4 PM Coldwell Bnkr 45 Cedar Cliff Road Riverside $2.95M 1-4 PM Sotheby's 523 E Putnam Ave #Ph Cos Cob $2.995M 2-4 PM Prudential 5 Jofran Lane Greenwich $2.995M 1-3 PM Raveis 28 Brynwood Lane Greenwich $2.999M 12-2 PM Ogilvy 87 Perkins Road Greenwich $3.1M 1-4 PM Prudential 76 Cat Rock Road Cos Cob $3.295M 1-4 PM Coldwell Bnkr 170 Overlook Drive Greenwich $3.495M 2-4 PM Coldwell Bnkr 1333 King Street Greenwich $3.495M 1-4 PM Coldwell Bnkr 187 Shore Road Old Greenwich $3.495M 2-4 PM Coldwell Bnkr 11 Club Road Riverside $6.4M 2-4 PM Rnd Hill Prtns 421 Field Point Road Greenwich $6.95M 1-4 PM Prudential   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

Greenwich CT, Residential Real Estate Blog and Analysis: April 19th

Greenwich, CT Residential Real Estate Analysis: April 19th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

The above pictured center hall colonial is located at 87 Perkins Road.  House sits on 2 acres of which the backyard is beautifully landscaped and has a fenced off pool which is strategically set into the rock that gives a natural patio feel.  It was renovated in 2004 but the interior feels like it was renovated more recently, since it has been so well taken care of.  There are four bedrooms, four and one half baths and three fireplaces, and 4,062 s.f.  There are 1,500 s.f. in the basement that is not included.  The kitchen has new appliances and has a very open feel.  The house is well situated on the lot for maximum sun exposure.  I also love the location and think it is well priced at $3.1M. We continue to see the inventory grow.  We had 44 new listings come on the market this past week.  We have 637 total properties for sale which is up eighteen from 619 last week. We are starting to see by the statistics below that we are settling into a clear understanding of the market.  We are not seeing big jumps in the percentages one way or another.  When you scroll all the way down the months on average section of the newsletter it shows us that we are dealing with two different markets.  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

Properties Sold   We are nineteen days through April and we have already passed last year's sold number.  So, even though we are seeing inventory grow we are also seeing the sold numbers grow.  I imagine by end of next week will have passed 2010 and 2011 sold numbers for April as well. New Listings I mentioned last week I expected things to slow down and inventory continue to be added.  We went up nineteen properties in the last week.  All in all it could be worst but we are seeing a trend of the inventory grow which I imagine will continue for the next several weeks.    Year to Date Sold  Year to date we have sold 164 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.  The $500K-$1M continues to dominate the market share growing from 24% to 27% of total properties sold year to date.  This is a huge number for one week.     Year to Date Available    I feel it is important to compare the two charts.  The biggest move in inventory was surprisingly the decrease in inventory in the $1.5M-$2M range.  That price range dropped from 13% of the inventory to 11% in one week.  We had 78 properties in that price range last week and only 72 properties this week. 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.    We continue to see the under $2M stay competitive which the over $2M continues to grow.  The value seems to be in the $4M-$5M range currently. Price Range 12-Jun 1/5/13 2/1/13 2/22/13 3/22/13 4/19/13 0-$500K 6.36 4.96 5.76 5.28 5.12 4.96 $500K-$1M 7.98 3.88 4.22 4.22 4.72 5.05 $1M-$1.5M 11.48 7.22 7.34 7.1 7.22 7.59 $1.5M-$2M 10.86 7 8.55 9.06 8.68 9.19 $2M-$3M 15.27 8.64 9.72 10.2 9.96 12 $3M-$4M 21.82 12.4 13.77 16.22 17.55 19.33 $4M-$5M 37.33 17.5 16.5 18.5 21.5 27.5 $5M-$7.5M 30.92 19.4 20.47 20.47 20.82 22.94 $7.5M-$10M 57 25.84 22.15 22.15 25.84 26.76 $10M+ 40.21 36 36.85 40.28 38.57 36.85   **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 April 14th      Below are all of the Greenwich Open Houses for Sunday.  The first three are rentals.  It is National Open House Day (I know you have been waiting for this day all year to celebrate) so there are a plethora of houses to see.  As you can see there are a lot of open houses; 55 in total. The first three are rentals. Thank you to Mark Pruner for compiling the list of open houses for me each week. Address Town List Price Time Office 28 Home Place #A-1 Greenwich $7K  1 - 3 PM Raveis 71 Orchard Place #A Greenwich $7.15K 2 - 4 PM Weichert 559 Steamboat Road #A1 Greenwich $17.5K 2 - 4 PM Sotheby's 76 Putnam Park #76 Greenwich $545K  2 - 4 PM Raveis 201 River Run #201 Greenwich $562.5K 1 - 4 PM Prudential CT 14 Sound Beach Avenue Old Greenwich $629K  2 - 4 PM Raveis 98 Putnam Park Greenwich $629K  1 -4 PM Raveis 27 Byram Terrace Drive Greenwich $629K  12 - 3 PM Raveis 62 Valley Road Cos Cob $750K  2 - 4 PM Raveis 26 Church Street #B Greenwich $829K 1 - 3 PM Higgins 51 Cambridge Drive Greenwich $849.9K 2 - 4 PM Sotheby's 48 Hettiefred Road Greenwich $875K  1 - 4 PM Prudential CT 31 Scott Road Greenwich $884.5K 2 - 4 PM Weichert 73 Weaver Street #13 Greenwich $885K 1 - 4 PM Prudential CT 80 Silo Circle #80 Riverside $889K  2 - 4 PM Weichert 73 Weaver Street #16 Greenwich $950K  1 - 4 PM Halstead 9 Fairfield Avenue Old Greenwich $999K  1 - 3 PM Raveis 28 Home Place #A-1 Greenwich $1.175M  1 - 3 PM Raveis 73 Weaver Street #18 Greenwich $1.195M  1 - 4 PM Raveis 35 E Lyon Farm Drive #35 Greenwich $1.195M 1 - 3PM Coldwell Banker 86 Lower Cross Road Greenwich $1.249M 1 - 4 PM Weichert 424 Taconic Road Greenwich $1.25M 1 - 3 PM Weichert 17 Davenport Avenue Greenwich $1.295M  2 - 4 PM Raveis 202 W. Lyon Farm Drive Greenwich $1.295M 2 - 4 PM Greenwich FP 51 Forest Avenue #105 Old Greenwich $1.325M 12 - 3 PM Park Allyn 15 Londonderry Drive Greenwich $1.295M 2 - 4 PM Sotheby's 55 Lockwood Avenue Old Greenwich $1.495M  1 - 4 PM Greenwich Cus-m 24 Sundance Drive Cos Cob $1.495M  2 - 4 PM Raveis 584 Riversville Road Greenwich $1.525M 3 - 5 PM Sotheby's 11 Londonderry Drive Greenwich $1.595M  1 - 3 PM Raveis 26 Ferncliff Road Cos Cob $1.695M 2 - 4 PM Coldwell Banker 43 Stag Lane Greenwich $1.785M 2 - 4 PM Sotheby's 73 Hillcrest Park Road Old Greenwich $1.795M 2 - 4 PM Sotheby's 25 Rustic View Road Greenwich $1.825M 1 - 4 PM Prudential CT 20 Limerick Place Cos Cob $1.895M 2 - 4 PM Greenwich FP 73 Weaver St #18 Greenwich $1.195M 1 - 4 PM Raveis 140 Shore Road Old Greenwich $1.97M  2 - 4 PM Raveis 75 Harding Road Old Greenwich $1.975M 1 - 3 PM Coldwell Banker 149 Shore Road Old Greenwich $1.995M 1 - 4 PM Prudential CT 120 Valley Drive Greenwich $2.15M 1 - 4 PM Sotheby's 30 Sunset Road Old Greenwich $2.195M 2 - 4 PM Sotheby's 244 Stanwich Road Greenwich $2.25M 2 - 4 PM Sotheby's 17 Candlelight Place Greenwich $2.295M 1 - 4 PM Prudential CT 5 Dartmouth Road Cos Cob $2.295M 2 - 4 PM Sotheby's 85 Dingletown Road Greenwich $2.298M 1 - 4 PM Ogilvy 14 Woodland Road Stamford $2.3M 1 - 4 PM Prudential CT 36 Highview Avenue Old Greenwich $2.395M 1 - 4 PM Shore & Country 55 Shore Road Old Greenwich $2.495M 1 - 3 PM Coldwell Banker 18 Welwyn Road Riverside $2.495M 1 - 4 PM Prudential CT 9 Paddock Drive Greenwich $2.495M 2 - 4 PM Sotheby's 59 Bedford Road Greenwich $2.695M  1 - 3 PM Raveis 110 Patterson Avenue Greenwich $2.795M 1 - 4 PM Sotheby's 329 Riversville Road Greenwich $2.799M  12 - 3  PM Advantage 73 Glenville Road Greenwich $2.8M 2 - 4 PM Ogilvy 58 Park Avenue South Old Greenwich $2.875M  2 - 4 PM Shore & Country 36 Alden Road Greenwich $2.895M  1 - 4 PM Raveis 10 Deep Gorge Road Greenwich $2.95M 2 - 4 PM Greenwich FP 45 Cedar Cliff Road Riverside $2.95M 2 - 4 PM Sotheby's 230 Bedford Road Greenwich $2.995M 1 - 3 PM Ogilvy 26 Stag Lane Greenwich $2.999M  1:30 - 3:30 PM Advantage 51 Baldwin Farms North Greenwich $3.175M 2 - 4 PM Sotheby's 36 Montgomery Lane Greenwich $3.295M 1 - 3 PM New England 27 Chieftans Road Greenwich $3.595M 2 - 4 PM Greenwich FP 12 East Point Lane Old Greenwich $3.6M  1 - 4 PM Raveis 32 Grahampton Lane Greenwich $3.7M 2 - 4 PM Sotheby's 1200 Lake Avenue Greenwich $3.85M  12 - 3 PM Prudential CT 4 Cove Ridge Ln/Hendrie Dr Old Greenwich $3.875M 12 - 3 PM Sotheby's 124 Clapboard Ridge Road Greenwich $3.945M 2 - 4 PM Sotheby's 559 Steamboat Road #A1 Greenwich $4.095M 2 - 4 PM Sotheby's 19 Desiree Drive Greenwich $4.195M 2 - 4 PM Ogilvy 43 Doubling Road Greenwich $4.2M 2 - 4 PM Ogilvy 56 Milbank Avenue #B Greenwich $4.295M 2 - 4 PM Coldwell Banker 45 Close Road Greenwich $4.595M 2 - 4 PM Sotheby's 733 Lake Avenue Greenwich $4.795M 1 - 4 PM New England 12 Baldwin Farms South Greenwich $5.7M 2 - 4 PM Sotheby's 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