Greenwich, CT Residential Real Estate Analysis: July 20th

Greenwich, CT Residential Real Estate Analysis: July 20th A weekly analysis brought to you by Jared Randall. www.greenwichrealestateguy.com    This week I will be discussing 1 Finney Lane in Riverside.  I chose this property as it has a superb location.  It is right off of Riverside Lane, and is listed at $1.795M.  It is a Colonial with four bedrooms and 4.5 baths.  It is listed at 3,181 square feet and is a small lot at .19 of an acre.  I also like the fact that is on a quiet cul-de-sac.  There is a finished lower level, and beautiful cherry wood floors.  Click on the link above to see more pictures. This Sunday I will be doing an open house at 65 Lockwood Lane in Riverside. I believe this is a great value located in a cul de sac within walking distance to schools and train. This could be used as an investment property or a residence.  It has an updated kitchen and is in pristine condition. In the month of June we passed the 2010 numbers. Due to the Conveyance tax that hit July 1, 2011 we cannot really look at June of 2011 as a fair metric. We can combined June and July of this year and compare that to June and July of last year to give us a true assessment of the market. The highest compliment I can receive is the referral of someone you know who is looking to buy or sell their home. Call me with their name and number so I can give them the first class service they deserve.         Properties Sold       As you look at this chart June of 2011 jumps out with a huge spike of 120 sold properties.  However, there was a rush to close properties before the new conveyance tax hit on July 1st of 2011.  In my opinion, we have to look at June and July together to see where the market is currently vs 2011.  The positive that their have been 49 properties sold so far this month which currently is outpacing July of 2011, albeit not by much. It is looking like we will have more properties sold this month than last year.  However, in analyzing June and July together due to the conveyance tax, it looks like we will be far behind last year's activity.   New Listings     In a continuing trend over the last month the new listings are very even with the properties that have been sold.  The positive is that for the first five and half months the new listings outpaced the sold properties.  The negative is that since they are relatively the same we are not eating into the surplus inventory we currently have in Greenwich.    Year to Date Sold   This chart shows us the breakdown of the properties sold year to date. Last week the 0-1M range is 41% of the properties that have sold, in just a week it has moved up to 44%.  Yet, in the same price range on the available properties the percent dropped from 23% to 22%.  The under 1M price range is getting even more competitive.  Whereas, the 2-3M range dropped two percent and the 3-4 dropped another percent.  This is reflective of the different markets that each price range is currently trading in. The lower price points are more seller's markets than the other price points. Whereas, the more expensive ranges the buyers have the majority of the leverage.     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. In the $0-$500K range we have 5.14 months on average to sell through down from six months. $500K-$1M  we have 6.25 months down from 7 months. $1M-$1.5M we have 8.81 months. $1.5M-$2M we have 12.24 up from 10 months. $2M-$3M we have 16.85 months.  $3M-$4M we have 22.64 months. $4M-$5M we have 36.38 months. $5M-$7.5M we have 29.88 months. $7.5-$10M we have 49.5 months. $10M and above we have 44.32 months.  We are currently seeing the same trends, the under $1.5M is getting even more competitive while the over $1.5M is adding more inventory. Open Houses July 22nd       I will be at 65 Lockwood Lane again this week. Below are all of the Greenwich Open Houses. Enjoy your week. Address Town List Price Time Broker 132 Henry St Greenwich $650K 1-4 PM Weichert 51 Forest Ave #156 Old Greenwich $695K 1-4 PM   42 Mead Ave Cos Cob $775K 1-3 PM Sotheby's 17 Ronald Ln Cos Cob $979K 1-3 PM Raveis 39 Cross Ln Cos Cob $1.05M 1-3 PM Weichert 71 Orchard Pl #B Greenwich $1.165M 2-4 PM Coldwell Bnkr 37 Ettl Ln Greenwich $1.3M 3-5 PM Sotheby's 274 North St Greenwich $1.345M 1-4 PM Prudential 15 Horseshoe Rd Cos Cob $1.485M 1-3 PM Sotheby's 483 Riversville Rd Greenwich $1.595M 1-4 PM Shore & Cntry 21 Cat Rock Rd Cos Cob $1.649M 2-4 PM Coldwell Bnkr 65 Lockwood Ln Riverside $1.769M 1-4 PM Prudential 16 Manor Rd Old Greenwich $1.796M 1-4 PM Prudential 9 S End Ct Old Greenwich $1.99M 1-4 PM Raveis 3 Oakwood Ln Greenwich $2.195M 1-4 PM Prudential 6 Stanwich Ln Greenwich $2.25M 2-4 PM Coldwell Bnkr 18 Flying Cloud Rd Stamford $2.375M 1-4 PM Prudential 243 Dolphin Cove Quay, St Stamford $2.8M 1-4 PM Prudential 1 Tyler Ct Riverside $3.19M 1-3 PM Weichert 6 Raymond St Old Greenwich $3.295M 2-4 PM Round Hill Prtnrs 242 Dolphin Cove Quay Stamford $3.46M 1-4 PM Prudential 120 Cummings Point Rd,St Stamford $3.995M 1-3 PM Sotheby's 450 North St Greenwich $4.195M 2-4 PM Summit Mortgage Information The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of HSBC and Iliad Estrada or Ct. Home Mortgage. Jeff's rates can be found at:  http://www.us.hsbc.com/1/2/3/personal/home-loans  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% 3.514% 30 Year Fixed Agency  Jumbo n/a n/a 30 YR  Fixed Jumbo 3.990% 4.116% 5/1 YR ARM Conforming 2.250% 3.081% 5/1 YR ARM Jumbo 2.250% 3.060% 10/1 YR ARM Jumbo 3.375% 3.453%  *as of July 15th

Greenwich, CT Residential Real Estate Analysis: July 13th

Greenwich, CT Residential Real Estate Analysis: July 13th A weekly analysis brought to you by Jared Randall. www.greenwichrealestateguy.com   This week I will be discussing 59 Club Road. This is one of the properties that you have to click on the above link to see the pictures.  It is owned by a friend of mine I work with, whose wife just published a book about decorating from yard sales.  As one can see by the pictures it impeccably decorated.  When one decides on buying their next property or house, the most important aspect to think about is location.  59 Club Road screams location, location, location.  It is nestled on one of the most beautiful streets in Riverside.  At the end of Club Road within walking distance is the Riverside Yacht Club.  The house was built in the 1920's with some expansion since then.  It is currently 4,166 square feet but has FAR up to 7,600 square feet.  This Sunday I will be doing an open house at 65 Lockwood Lane in Riverside. I believe this is a great value located in a cul de sac within walking distance to schools and train. This could be used as an investment property or a residence.  It has an updated kitchen and is in pristine condition.  I have received a lot of questions from people in regards to the 3.8% tax from the Healthcare Legislation that goes into effect in 2013.  I believe this article explains it best.  3.8% Tax to go into Effect 2013  In the month of June we passed the 2010 numbers. Due to the Conveyance tax that hit July 1, 2011 we cannot really look at June of 2011 as a fair metric. We can combined June and July of this year and compare that to June and July of last year to give us a true assessment of the market.  Below you will find my analysis of the market, open houses, as well as mortgage information. I am still working on touching it up, but feel free to check it out at www.greenwichrealestateguy.com.     The highest compliment I can receive is the referral of someone you know who is looking to buy or sell their home. Call me with their name and number so I can give them the first class service they deserve.   Properties Sold       As you look at this chart June of 2011 jumps out with a huge spike of 120 sold properties. However, there was a rush to close properties before the new conveyance tax hit on July 1st of 2011.  In my opinion, we have to look at June and July together to see where the market is currently vs 2011.  The positive that their have been 33 properties sold so far this month which currently is outpacing July of 2011, it will be interesting to see when we combine June and July where we end up.    New Listings    It looks as for the first time this year new listings did not outpace last year's numbers.  As a continual trend from June, it looks like that the sold properties are staying even with the new listings.  In July we have had 35 new listings and 33 sold properties.  This is a good sign as in the first five months the new listings were outpacing the sold by a lot.    Year to Date Sold  This chart shows us the breakdown of the 343 properties sold year to date. As you can see, the 0-1M range is 41% of the properties that have sold. Yet, it is only 23% of the properties that are currently available. This is again reflective of the different markets that each price range is currently trading in. The lower price points are more seller's markets than the other price points. Whereas, the more expensive ranges the buyers have the majority of the leverage.     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. In the $0-$500K range we have 6.02 months on average to sell through. $500K-$1M  we have 7.82 months. $1M-$1.5M we have 9.55 months. $1.5M-$2M we have 10.4 months. $2M-$3M we have 15.81 months.  $3M-$4M we have 20.22 months. $4M-$5M we have 34.94 months. $5M-$7.5M we have 28.97 months. $7.5-$10M we have 44.93 months. $10M and above we have 41.9 months.  So, in only one week the amount to sell through the $1M-$1.5M inventory dropped two months.   Open Houses July 15th       I will be at 65 Lockwood Lane again this week. Below are all of the Greenwich Open Houses. Enjoy your week. Address Town Price Time Broker 87 Putnam Park #87 Greenwich $397K 2-4 PM Raveis 24 Wessels Pl Greenwich $541K 1-4 PM Raveis 358 Long Ridge Rd Stamford $625K 1-4 PM Prudential 60 Valley Rd #A Cos Cob $645K 2-4 PM Raveis 47 Lafayette Place #41 Greenwich $675K 1-4 PM Prudential 66 Richland Rd #B Greenwich $697K 12-2 PM Coldwell Bnkr 197 Sheephill Rd #C Riverside $699K 2-4 PM Coldwell Bnkr 51 Forest Av #109 Old Greenwich $725K 1-4 PM Coldwell Bnkr 19 Wescott St Greenwich $729K 2-4 PM Coldwell Bnkr 7 Mary Ln Riverside $750K 2-4 PM Raveis 123 Harbor Dr #203 Stamford $795K 1-4 PM Coldwell Bnkr 9 Sinawoy Rd Cos Cob $950K 1-4 PM Prudential 51 Forest Av #36 Old Greenwich $999.5K 2-4 PM Raveis 11 Bayside Terr Riverside $1.065M 1-3 PM Shore & Cntry 23 Mianus View Cos Cob $1.095M 1-4 PM Weichert 73 Weaver St #16 Greenwich $1.095M 2-4 PM Halstead Prop 71 Orchard Pl #B Greenwich $1.165M 2-4 PM Coldwell Bnkr 73 Weaver St #18 Greenwich $1.195M 2-4 PM Raveis 39 Cross Ln Cos Cob $1.199M 12-3 PM Weichert 35 Midbrook Rd Old Greenwich $1.475M 1-4 PM Prudential 130 Woodside Dr Greenwich $1.499M 2-4 PM Sotheby's 21 Cat Rock Rd Cos Cob $1.649M 2-4 PM Coldwell Bnkr 18 Spring St Riverside $1.695M 1-4 PM Prudential 70 Bedford Rd Greenwich $1.7M 1-3 PM Coldwell Bnkr 65 Lockwood Ln Riverside $1.769M 1-4 PM Prudential 16 Manor Rd Greenwich $1.795M 1-4 PM Prudential 11 Londonderry Dr Greenwich $1.795M 2-4 PM Raveis 79 William St Greenwich $1.975M 2-4 PM Coldwell Bnkr 9 S End Ct Old Greenwich $1.999M 2-5 PM Raveis 284 Riversville Rd Greenwich $2.395M 1-3 PM Raveis 42 Will Merry Ln Greenwich $2.49M 1-3 PM Round Hill Prtnr 182 Dolphin Cove Quay Stamford $2.595M 1-4 PM Prudential 243 Dolphin Cove Quay, St Stamford $2.8M 1-4 PM Prudential 196 Dolphin Cove Quay Stamford $2.995M 1-4 PM Prudential 1 Tyler Ln Riverside $3.275M 1-4 PM Weichert 25 Windabout Dr Greenwich $3.295M 2-4 PM Coldwell Bnkr 8 Indian Point Ln Riverside $3.45M 1-4 PM Prudential 242 Dolphin Cove Quay Stamford $3.46M 1-4 PM Prudential 2 Parsonage Rd Greenwich $4.295M 1-3 PM Round Hill Prtnr 585 Round Hill Rd Greenwich $4.495M 1-4 PM Coldwell Bnkr 45 Close Rd Greenwich $5.295M 2-4 PM Prudential 45 Close Rd Greenwich $5.295M 2-4 PM Prudential 2 Conyers Farm Dr Greenwich $6.495M 12-3:30 PM Sotheby's 25 West Way Old Greenwich $7.659M 2-5 PM Raveis 56 Clapboard Ridge Greenwich $9.95M 2-4 PM Ogilvy   Mortgage Information The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of HSBC and Iliad Estrada or Ct. Home Mortgage. Jeff's rates can be found at:  http://www.us.hsbc.com/1/2/3/personal/home-loans  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 APR 15 YR Fixed Conforming 2.625% 2.863% 30 YR Fixed Conforming 3.375% 3.514% 30 Year Fixed Agency Jumbo n/a n/a 30 YR  Fixed Jumbo 3.990% 4.116% 5/1 YR ARM Conforming 2.250% 3.081% 5/1 YR ARM Jumbo 2.250% 3.060% 10/1 YR ARM Jumbo 3.375% 3.453%  Updated: Friday June 22, 2012

Greenwich, Ct Residential Real Estate Analysis: July 6th

Greenwich, CT Residential Real Estate Analysis: July 6th A weekly analysis brought to you by Jared Randall. www.greenwichrealestateguy.com

Dear Jared, I hope everyone enjoyed their 4th of July. This Sunday I will be doing an open house at 65 Lockwood Lane in Riverside. I believe this is a great value located in a cul de sac within walking distance to schools and train. This could be used as an investment property or a residence.  It has an updated kitchen and is in pristine condition. This week the house that struck me the most was the above house located at 450 North Street and is currently listed at $4,195,000. This is a beautiful Georgian style Colonial new build.  It is on one acre of land. One aspect that I really like is that it has the prestigious North Street address, yet the driveway entrances are on side streets. One, does not have to contend with the North Street traffic getting in and out of the driveway. The location is ideal as it is steps from North Street Elementary, close to town, and not far from the Merritt. At first look my concern was that the house sits so close to North Street, the traffic may be a nuisance. However, the builder did a great job with the frontage wall, giving the feel you are farther from the street. The back yard is sloped downwards.  It has 6 bedrooms and 7.5 baths. There has incredible detail throughout the house. The main floor has a very open feel with high ceilings and a nice flow from room to room. The amenities include a gorgeous kitchen, four fireplaces, a lower level that includes; a game room, a wine cellar, a home theatre, and an in-law suite. In the month of June we passed the 2010 numbers. Due to the Conveyance tax that hit July 1, 2011 we cannot really look at June of 2011 as a fair metric. We can combined June and July of this year and compare that to June and July of last year to give us a true assessment of the market. Below you will find my analysis of the market, open houses, as well as mortgage information. I am still working on touching it up, but feel free to check it out at www.greenwichrealestateguy.com.   The highest compliment I can receive is the referral of someone you know who is looking to buy or sell their home. Call me with their name and number so I can give them the first class service they deserve.     Properties Sold       As you look at this chart June of 2011 jumps out with a huge spike of 120 sold properties.  However, there was a rush to close properties before the new conveyance tax hit on July 1st of 2011.  In my opinion, we have to look at June and July together to see where the market is currently vs 2011.  The positive being that May and June of this year outpaced May and June of 2010 whereas in the first four months of the year 2010 was busier than 2012. New Listings     It looks as for the first time this year new listings did not outpace last year's numbers.  We will have to wait for the actual report which is usually ten days from now, but it looks like the unofficial numbers from June put us below last year's totals for new listings.     Year to Date Sold   This chart shows us the breakdown of the 320 properties sold year to date. As you can see, the 0-1M range is 41.5% of the properties that have sold. Yet, it is only 23% of the properties that are currently available. This is again reflective of the different markets that each price range is currently trading in. The lower price points are more seller's markets than the other price points. Whereas, the more expensive ranges the buyers have the majority of the leverage.     Year to Date Available    As, we are exactly halfway through the year, I feel it is the right time to illustrate the months on average it would take to sell through the inventory we have. In the $0-$500K range we have 6.36 months on average to sell through. $500K-$1M  we have 7.98 months. $1M-$1.5M we have 11.48 months. $1.5M-$2M we have 10.86 months. $2M-$3M we have 15.27 months.  $3M-$4M we have 21.82 months. $4M-$5M we have 37.33 months. $5M-$7.5M we have 30.92 months. $7.5-$10M we have 57 months. $10M and above we have 40.29 months. Again, illustrating the higher the price range the stronger the leverage for the buyer. Open Houses July 8th       I hope everyone enjoyed their 4th of July. The Greenwich fireworks are on Saturday at Binney Park, and Todd's Point Beach in Old Greenwich.  I hope to see you there. This week there are only two open houses, and I am doing one of them. I am not sure if that is a good sign or a bad sign.  Enjoy your week.   Address Town Price Time Broker 453 East Putnam #4A Greenwich $510K 12-3 pm Prudential 65 Lockwood Lane Riverside $1.769M 1-4 pm Prudential Mortgage Information The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of HSBC and Iliad Estrada or Ct. Home Mortgage. Jeff's rates can be found at:  http://www.us.hsbc.com/1/2/3/personal/home-loans  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 APR 15 YR Fixed Conforming 2.625% 2.863% 30 YR Fixed Conforming 3.375% 3.514% 30 Year Fixed Agency Jumbo n/a n/a 30 YR  Fixed Jumbo 3.990% 4.116% 5/1 YR ARM Conforming 2.250% 3.081% 5/1 YR ARM Jumbo 2.250% 3.060% 10/1 YR ARM Jumbo 3.375% 3.453%  Updated: Friday June 22, 2012

Greenwich, Ct Residential Real Estate Analysis June 29th

A weekly analysis brought to you by Jared Randall. www.greenwichrealestateguy.com I hope this newsletter finds everyone well. Since, I could never figure out what picture to put at the top of this newsletter, I thought I might as well switch it up every week.  So, every week the picture will be of a house I have toured that I think is of good value and I will write a quick synopsis of why I feel that way.  The above picture is of 2 Parsonage Road. It is currently listed at $4,295,000  The link is 2 Parsonage Road.  Obviously, as one can tell by the pictures it is a beautiful house with great details an amenities.  However, what attracts me the most is the value I believe.  It is located at the corner of Parsonage and North Street.  So, the buyer will have the opportunity to own an 8,000 sf house, but have the ability to walk to town, while still almost having an acre of lot size.  The history of the property is also where I see value.  It was bought in March of 2008 for $3,684,375 as a 4,926 square foot house.  I am assuming the owners did some work  and tried to sell it in late August of 2008 for $4,425,000 at 6,500 square feet. Today, it is 8,000 sf, with new roof, heated floors, top end appliances, and beautiful molding.  It also has incredible amenities such as finished lower level with exercise room, play room and wine cellars.  It has five bedrooms, 6.5 baths, and four fireplaces.  Hence, when you couple the location, the top end renovations, and the amenities, you have a house you would think you would find in back country, with the charm of North Street, and in town living at a reasonable price. This week is the week I feel things may start to catch up.  For the first time we have looked at these values, we had the same amount of properties close, as new listings come on.  As we have discussed and you can see by the charts below we have been a tad off of last year's pace in sold properties but have been on a faster pace of new listings.  Hence, adding more inventory to the marketplace.  There were 24 properties sold this past week, with 24 new listings as well. Below you will find my analysis of the market, open houses, as well as mortgage information.  I am still working on touching it up, but feel free to check it out at www.greenwichrealestateguy.com.   The highest compliment I can receive is the referral of someone you know who is looking to buy or sell their home.  Call me with their name and number so I can give them the first class service they deserve.     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 you look at this chart June of 2011 jumps out with a huge spike of 120 sold properties.  However, there was a rush to close properties before the new conveyance tax hit on July 1st of 2011.  In my opinion, we have to look at June and July together to see where the market is currently vs 2011.  As you can see of June 29th this year we have had 84 properties sold.  We should outpace the 86 in June of 2010 and can better gauge against 2011 after the end of next month.  In the last week we had 24 properties close.  With the same trend we have been discussing, 15 of the 24 were under 2 million.    New Listings     When we look at this chart as monthly we continually see that the new listings are exceeding last year's new listings.  The promising sign is that we may not hit June of last year's numbers as well as there were the same amount of new listings as sold properties last week could show a slowing in the inventory which would be a positive sign for the overall market.    Year to Date Sold   This chart shows us the breakdown of the 304 properties sold year to date.       Year to Date Available    The above chart breaks down the available properties broken into the same price segments as the properties sold.  One can see the true disproportion in certain price points.  The goal of these charts and data have always been to help educate the seller and the buyer.  Ultimately, to know the kind of market we are in.  I sometimes get surprised myself on how even in a week these numbers can change.  We have discussed how the under 2 million segment would take 11.02 months to sell through the inventory.  However, just with last weeks data entered that has dropped to 9.99 months.  Again, demonstrating that the under 2 million dollar market is competitive.   Open Houses July 1st       Wow, where did June go.  I cannot believe Sunday is already July.  This week there are thirty three open houses.  Have a great 4th of July, and enjoy your week.  Address Town List Price Time Broker 25 Oval Ave Riverside $7.9K 2-4 PM Raveis 21 Cat Rock Rd Cos Cob $9K 2-4 PM Coldwell Bnkr 9 South End Ave Old Greenwich $218K 2-4 PM Raveis Putnam Park #87 Greenwich $397K 2-4 PM Raveis Putnam Park #72 Greenwich $615K 1-4 PM Weichert 19 LeGrande Ave #16 Greenwich $649K 2-4 PM Raveis 230 Valley Rd Cos Cob $685K 2-4 PM Raveis 28 Woods Ave Greenwich $699K 12-3 PM Raveis 60 Valley Rd Cos Cob $699.5K 2-4 PM Raveis 6 Robertson Ln #3 Cos Cob $749K 2-4 PM Coldwell Bnkr 41 Windsor Ln Cos Cob $875K 2-4 PM Raveis 127 Lake Ave Greenwich $920K 2-4 PM Coldwell Bnkr 20 West End Ave Old Greenwich $950K 2-4 PM Raveis 71 Orchard Pl #B Greenwich $1.165M 2-4 PM Coldwell Bnkr 67 Bowman Dr Greenwich $1.175M 2-4 PM Anderson 86 Lower Cross Rd Greenwich $1.349M 1-4 PM Weichert 16 Norton Ln Old Greenwich $1.595M 1-3 PM Raveis 25 Oval Ave Riverside $1.595M 2-4 PM Raveis 99 Stanwich Rd Greenwich $1.675M 1-3 PM Higgins Grp 21 Cat Rock Rd Cos Cob $1.695M 2-4 PM Coldwell Bnkr 33 Ferncliff Rd Cos Cob $1.875M 2-4 PM Prudential 127 Havemeyer Pl Greenwich $1.897M 1-4 PM Raveis 7 Lighthouse Ln Old Greenwich $2.475M 2-4 PM Grnwch Fine Prop 18 Welwyn Rd Riverside $2.65M 1-3 PM Prudential 11 Grimes Rd Old Greenwich $2.675M 2-4 PM Coldwell Bnkr 71 Valley Rd Cos Cob $2.695M 1-4 PM Raveis 21 Lake Dr Riverside $2.695M 1-3 PM Shore & Cntry 35 Shore Rd Old Greenwich $2.995M 2-4 PM Grnwch Fine Prop 20 Stoney Ridge Ln Riverside $2.995M 2-4 PM Shore & Cntry 196 Dolphin Cove Quay Stamford $2.995M 1-4 PM Prudential 1 Tyler Ln Riverside $3.275M 12-3 PM Weichert 2 Parsonage Rd Greenwich $4.295M 1-3 PM Round Hill Prtnr 170 Old Mill Rd Greenwich $7.795M 3-5 PM Sotheby's Mortgage Information The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of HSBC and Iliad Estrada or Ct. Home Mortgage. Jeff's rates can be found at:  http://www.us.hsbc.com/1/2/3/personal/home-loans  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% 3.514% 30 Year Fixed Agency  Jumbo n/a n/a 30 YR  Fixed Jumbo 3.990% 4.116% 5/1 YR ARM Conforming 2.250% 3.081% 5/1 YR ARM Jumbo 2.250% 3.060% 10/1 YR ARM Jumbo 3.375% 3.453%  Updated: Friday June 22, 2012

Greenwich, CT Residential Real Estate Analysis: June 22nd

I hope all of the dads enjoyed their Father's Day last weekend.  With this weekend being being between Father's Day and 4th of July there are a lot of open houses on Sunday.  Please scroll down a few sections to see the list of open houses and mortgage information.  I will be hosting an open house myself this weekend at 9 Sinawoy, Cos Cob.  This is a 5br, 3 Bath ranch style home that has just been reduced to $950,000.  It is within walking distance to Cos Cob Elementary, Library, and shops.  My website is pretty close to being finished.  I am still working on touching it up, but feel free to check it out at www.greenwichrealestateguy.com.  

As I mentioned last week the goal for this newsletter has always been to help educate buyers and sellers.  I felt that my previous newsletters were getting too wordy detailing the analysis.  Hence, I have decided to change the format and the statistics to make it more easy to follow.  One of the many incredible aspects of Greenwich is the diversity of Real Estate.  Greenwich has the in-town feel (where you can walk to the Avenue and town),Mid-Country, Back Country (where you can get plenty of land), Riverside and Old Greenwich (walk to schools, and beach), Cos Cob (close to everything), Glenville and Byram (borders New York, good values).  With the diversity of Real Estate, I feel the market ebbs and flows in different price points.  I decided that the best way to show where the market currently is and where it is headed is with four graphs; comparing properties sold monthly vs. the same month in 2010 and 2011, the amount of new listings per month compared to same month in 2010 and 2011, the year to date sold broken out by price point, then the properties available broken down by price point.  The information is all research I do from the Greenwich MLS.  I update the charts every week, with the current month's numbers being month to date so one can track how this month is trending compared to same month last year.

My belief is this is the easiest way to follow the market.  We will be able to see if the transactions are slowing or gaining on last year, while also being able to see which price points are growing market share and which are declining.  

 

The highest compliment I can receive is the referral of someone you know who is looking to buy or sell their home.  Call me with their name and number so I can give them the first class service they deserve.

Properties Sold       As you can see above the first five months we are just off a little bit vs. last year's properties sold.  The 59 properties sold for June are as of June 22, again showing we are falling farther behind to try and reach the 120 of 2011.  Currently, we are trending more at June of 2010's pace where we were at 86 properties sold.  New Listings     In the last week we had even more listings still pushing us toward exceeding 2011's numbers.  I feel this is the chart that most exemplifies where the market is currently.  If you compare this to the above properties sold graph, it shows the amount of inventory being added vs the amount being sold.  As you can see in the properties sold chart we are a couple of percentage points off of last year's properties sold.  However, looking at the new listings we can see that we are continually outnumbering the amount of new listings from last year and the year before.  Hence, proving we are adding supply with the demand staying constant or slightly declining from last year.

Year to Date Sold   This chart shows us the breakdown of the 278 properties sold year to date.  We have had 22 more properties sold this past week. The 500K-1M range had the most with 6.  Again, continuing the trend we have been seeing.     Year to Date Available    The above chart breaks down the available properties broken into the same price segments as the properties sold.  One can see the true disproportion in certain price points.  My opinion of these two charts are that even though we have more supply entering than the demand, the under $2M range has some legs to it.  There are 360 available properties in that segment, and we have sold 194 ytd. In essence, if no other properties came on the market under $2M and we had the same volume we have had ytd, it would take 11.02 months to sell through.  However, if we look at the $4M-$5M range we have had 8 properties sold ytd, and currently have 58 available properties.  That sale cycle would be 43.5 months.  In summary, I feel the value in the current market is if one could jump price points.  If one can sell their home in  lower range and jump up to the next range to buy I think they will have found a great value in the current housing market.  For example, the best place to be would be to sell in the under $2M range and buy over $2M.

Open Houses June 17       We have 50 open houses on Sunday.  Enjoy the weekend. Address Town Price Time Broker 1525 E Putnam Av #301 Old Greenwich $329K 1-4 PM Raveis 351 Pemberwick Rd #110 Greenwich $335K 1-3 PM Raveis 28 Homestead Ln Greenwich $475K 1-4 PM Raveis 109 Pemberwick Rd Greenwich $569K 2-4 PM Sotheby 13 Dora St #2 Stamford $629K 1-4 PM Raveis 104 Hubbard Ave Stamford $635K 1-4 PM Prudential 358 Long Ridge Rd Stamford $649K 1-4 PM Prudential 10 Anthony Pl Riverside $699K 2-4 PM Coldwell Bnkr 60 Valley Rd #A Cos Cob $699.5K 2-4 PM Raveis 60 Valley Rd #B Cos Cob $699.5K 2-4 PM Raveis 51 Forest Av #109 Old Greenwich $725K 1-4 PM Coldwell Bnkr 41 Windsor Ln Cos Cob $925K 1-4 PM Raveis 9 Sinawoy Rd Cos Cob $950K 1-4 PM Prudential 20 West End Av(Rear) Old Greenwich $950K 2-4 PM Raveis 20 West End Av (Rear) Old Greenwich $950K 2-4 PM Raveis 17 Ronald Ln Cos Cob $999K 1-3 PM Raveis 23 Mianus View Cos Cob $1.145M 1-4 PM Weichert 71 Orchard Pl #B Greenwich $1.165M 2-4 PM Coldwell Bnkr 38 Breezemont Av Riverside $1.225M 1-3 PM Sotheby 16 Heronvue Rd Greenwich $1.299M 1:30-3:30 Weichert 12 Hendrie Dr Old Greenwich $1.33M 2-4 PM Sotheby 483 Riversville Rd Greenwich $1.595M 1-3 PM Shore & Cntry 1093 King St Greenwich $1.65M 2-4 PM Sotheby 21 Cat Rock Rd Cos Cob $1.695M 2-4 PM Coldwell Bnkr 361 Stanwich Rd Greenwich $1.795M 2-4 PM Sotheby 70 Bedford Rd Greenwich $1.8M 1-3 PM Coldwell Bnkr 43 Stag Ln Greenwich $1.85M 2-4 PM Sotheby 2 Marks Rd Riverside $1.865M 1-4 PM Prudential 99 Londonderry Dr Greenwich $1.995M 2-4 PM Sotheby 9 S End Ct Old Greenwich $2.18M 2-5 PM Raveis 108 Cutler Rd Greenwich $2.195M 2-4 PM Sotheby 24 Meadow Rd Riverside $2.295M 2-4 PM Prudential 284 Riversville Rd Greenwich $2.395M 1-3 PM Raveis 191 North St Greenwich $2.4M 1-3 PM Coldwell Bnkr 71 Valley Rd Cos Cob $2.695M 1-4 PM Raveis 243 Dolphin Cove Quay, St Stamford $2.8M 2-4 PM Prudential 82 Glenville Rd Greenwich $2.95M 2-4 PM Grnwch Fine Prop 1 Tyler Ln Riverside $3.275M 1-3 PM Weichert 73 Baldwin Farms South Greenwich $3.395M 1-3 PM Sotheby 43 Keofferam Rd Old Greenwich $3.45M 1-3 PM Prudential 137 Milbank Rd Greenwich $3.7M 2-4 PM Sotheby 120 Cummings Point Rd,St Stamford $3.995M 2-4 PM Sotheby 22 Cherry Tree Ln Riverside $5.295M 2-4 PM Shore & Cntry 12 Baldwin Farms South Greenwich $6.15M 2-4 PM Summit 504 North St Greenwich $6.85M 1-3 PM Coldwell Bnkr 11 Club Rd Riverside $7.75M 1-4 PM Prudential 555 Riversville Rd Greenwich $16M 12-2 PM Sotheby

Mortgage Information The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of HSBC and Iliad Estrada or Ct. Home Mortgage. Jeff's rates can be found at: http://www.us.hsbc.com/1/2/3/personal/home-loans  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% 3.514% 30 Year Fixed Agency  Jumbo n/a n/a 30 YR  Fixed Jumbo 3.990% 4.116% 5/1 YR ARM Conforming 2.250% 3.081% 5/1 YR ARM Jumbo 2.250% 3.060% 10/1 YR ARM Jumbo 3.375% 3.453%  Updated: Friday June 22, 2012