The Over $2 Million Report for Fairfield County

The Over $2 Million Report for Fairfield County
By Mark Pruner
Berkshire Hathaway – New England
Greenwich/Old Greenwich Office

I. Overview
The high-end market continues at nice pace in Fairfield County. In the first nine months of 2014 we have had 448 sales over $2 million dollars. Of those sales 93% were in Greenwich, Westport, New Canaan and Darien with 50% of all sales in Greenwich. Both Greenwich and New Canaan have seen unit sales jump by double-digit amounts and sales volume in Greenwich is up by a quarter billion dollars in the first nine months of 2014 compared to the same period in 2013. Half of this gain was due to sale of one house for $120,000,000, but even with that sale subtracted out we still have an increase of $130,000,000 of money pouring into the Fairfield County real estate market, a very good sign.

II. The Numbers
So far this year $1.67 billion dollars of houses and condos over $2 million have been sold in Fairfield County, this is up 17.6% over last year. Sales have climbed from 429 units in the first 9 months of 2013 to 448 units so far this year or an increase of 4.7%.

 

2014 1st 9Mos Units Total $ 2013 1st 9 Mos Diff
BRIDGEPORT 1 $2,200,000 0 $                        - 1 $2,200,000
DARIEN 54 $154,519,493 58 $169,136,800 -4 $(14,617,307)
FAIRFIELD 12 $40,200,000 16 $48,035,000 -4 $(7,835,000)
GREENWICH 224 $1,008,153,852 205 $751,036,068 19 $257,117,784
NEW CANAAN 66 $203,574,775 56 $160,472,000 10 $43,102,775
NORWALK 9 $30,647,633 9 $28,209,000 0 $2,438,633
RIDGEFIELD 4 $11,212,500 4 $12,933,062 0 $(1,720,562)
SHERMAN 1 $2,050,000 1 $3,550,000 0 $(1,500,000)
STAMFORD 3 $6,387,500 5 $12,230,243 -2 $(5,842,743)
WESTON 1 $2,900,000 1 $2,450,000 0 $450,000
WESTPORT 71 $206,149,237 70 $228,991,950 1 $(22,842,713)
WILTON 3 $8,777,500 4 $8,977,500 -1 $(200,000)
Total 448 $1,676,772,490 429 $1,426,021,623 19 $250,750,867

 

The average price of these units has increased to $3,734,000 up 12.3% from the first nine months of 2013. Of this gain in average price, $267,000 is due to the sale of Copper Beach Farm in Greenwich, CT, which sold in April for $120,000,000. If you take out this house the average price for houses over $2 million in Fairfield County is $3,475,000 still up 4.5% over last year.
A. Unit Sales by Month

When you look at the sales by month you can see just how similar the two years have been. Like the rest of the market the high-end sales jumped up in January 2014 as buyer’s rushed to beat what the financial pundits said would be rising interest rates and increasing home prices. Sales dropped back in February as interest rates actually fell.

Sales 9.12 - 9.14.mp.101214

The third quarter of 2014 had two good months of sales followed by a September with lower sales than in either 2013 or 2012. Once again this was true for the whole market both above and below $2 million. Overall sales were down a small 3% for the third quarter of 2014, but still up for the year.

B. Total Volume
The one thing about the high-end is the highest end can be very high. The result is that even when totaled over all of Fairfield County the sales volume for any one month jumps around year to year. The $120,000,000 sale in April of this year made for a big jump. We also saw the sale of a $15.8 million home in June of this year and two houses over $10 million in August.

Fairfield County Real Estate

Lower number of sales in September resulted in lower volume even with another $10 million sale that month.

 

III. The Ultra-High End

The over $10 million is looking much better this year. Many high net worth families in New York see Connecticut, and particularly Greenwich, as a more attractive place, while still being close to New York City. We have 19 properties in Connecticut that have sold for over $10 million so far in 2014. Fifteen of these properties are in Greenwich, but Darien, New Canaan and Fairfield all have sales over $10 million.

The highest priced present listing on the market is Leona Helmsley’s former estate. The house is on for $65,000, 000 after being purchased for $35,000,000 four years ago. The house was bought by an investor and has been extensively renovated making for the ultimate renovation flip. Following closely on the Helmsley Estate price is a Sasco Hill property on Long Island Sound in Fairfield at $62,000,000. If you are looking in this ultimate price category over $10 million you have 98 choices on the Berkshire Hathaway – New England website.

The improvement of the economy and the stock market recovery has gotten high-end buyers moving again. Post-recession, Wall Street bonuses are often spread out over three years and paid out in stock rather than cash. This compensation change initially resulted in a big drop in compensation, but by 2014 these financial sector buyers are “fully-bonused” with one-third of their 2014 bonuses coming from 2014, and two-thirds coming from their 2013 and 2012 bonuses. All of these years were relatively good years for bonuses. In addition stock portfolios are up and the wealth effect is kicking in spurring buyers to make high-end purchases. The volatility of the stock market also makes houses look relatively less risky.

This market is still a challenging market with more sellers than buyers, but the momentum is definitely swinging to the sellers. For sellers that need to sell, pricing their house to today’s market is essential. On the flip side many sellers at the high-end of the market don’t have to sell and if the buyer really wants one particular unique property they have to make a good offer. Ron Howard’s multi-acre property in Conyers Farm on the New York/Greenwich border just went for the full list price of $27,500,000.

We have good sales months followed by not so good months and good months in one town may not be a good month in an adjacent town. Having a good agent is always important, but even more so in this end of the market as the changing dynamics can literally mean a million dollar difference in the sales price either way.
IV. Sales by Town
Greenwich – Many of the high end sales are driven by Wall Street bonuses so being close to Wall Street is a big help as you can see in the sales charts by town below. Greenwich’s market share of over $2 million homes in Fairfield County grew from 48% last year to 50% this year. Unit sales grew from 205 last year to 224 sales in the first 9 months this year.
The growth in sales over $10 million and the sale of Copper Beach Farm at $120,000,000 meant that Greenwich’s share of sales volume went from 53% to 60%. Total dollars went from $751 million to over $1 billion.

Fairfeield County Real Estate Sales

Westport – Sales of over $2 million homes in Westport were the second highest in Fairfield County. Through the first three quarters of 2014 sales totaled 71 up 1 from last year. Surprisingly, total dollars were down by $22 million to $206 million as the mix of houses shifted slightly to the lower end.

New Canaan – Sales of over $2 million in New Canaan were third highest in the county, but looked at per capita actually came in second at $10,200 per resident for a total of $203 million. Number of units sold were up 17.9% over the first 3 quarters of 2013 to a total of 66 sales.

Darien – Sales and dollars were both down slightly in Darien, but total dollars were still $154 million. This is down 9% from 2013 and the number of sales is down 7% from 58 to 54 for the first three quarters of 2014.
V. Greenwich, Fairfield County and Connecticut

In Fairfield County we have a market where good local market knowledge can make a big difference to buyers and sellers. I specialize in Greenwich with listings in mid-country ($1.9 – 7.8M), central Greenwich ($1.7 – 2.6M), live in back-country Greenwich and have a sale pending in Riverside ($3.3M). Keeping up with all these neighborhoods is a full time job (actually more than a 40 hour a week job :). If you have a question about Greenwich real estate feel free to give me a call at 203-969-7900 or email me at mark@bhhsne.com.

Having lived here since 1967 and been a real estate attorney before becoming a Realtor, I have worked on deals in New Canaan, Westport, Darien, Stamford, Fairfield, Weston, and Wilton. I know the cities and towns in Fairfield County pretty well, but in these other towns I want the best local expertise and affiliate with some of the top brokers in each town. Feel free to call me if you have questions about any town in Fairfield County. If you have focused in one town I can get you to get to a good broker.

Also you should check out Berkshire Hathaway’s latest third quarter report. It is the definitive guide to real estate statistics in Connecticut. (I wrote the luxury report for the third quarter so some of the data there may look a little familiar after reading this report.) The BHHS – New England website is also a great place to go if you are looking for options statewide or countywide. Unlike many of the real estate sites out there you can do broad searches. You don’t have to select just one town. The other great thing about the site is that it pulls from all the multiple listing sites in the state so you get more listings.

Overall, we have a good market in Fairfield County that is trending in the right direction. Knowing where to look and what to look for is crucial for buyers. For sellers the deals are there to be done, often at very good prices, but presentation and reach is crucial.

Thanks,

Mark Pruner

Greenwich Open House List for Sunday October 19, 2014

Greenwich Open Houses

Sunday, October 19, 2014

59 Open Houses in Greenwich this weekend. The real estate market’s positive momentum continues. There is one rental for $15,000 and the other 58 are condos and single family homes. The range starts at $295,000 for a condominium to a beautiful home for $6,850,000. The times vary so plan your tour carefully.

Please click here for the interactive map. The static map is below.

Thanks to Rob Pulitano for preparing the list of Open Houses and the interactive map and to Pam Toner for the hot links.

Address Town Price Time Broker
5 Grimes Road Old Greenwich $15,000 2-4 PM Coldwell Banker
1535 E Putnam Ave  #301 Old Greenwich $295,000 1-3 PM Houlihan Lawrence
53 Rodwell Avenue  #A Greenwich $494,000 1-3 PM Keller Williams
24 Powder Horn Road Stamford $524,900 1-4 PM Berkshire Hathaway
104 River Run  #104 Greenwich $529,000 2-4 PM Berkshire Hathaway
453 E Putnam Avenue  #3B Cos Cob $565,000 1-3 PM Weichert
13 Fletcher Avenue Greenwich $650,000 1-4 PM Weichert
303 Bruce Park Ave Greenwich $699,000 12-3 PM Weichert
33 Morgan Avenue Greenwich $779,999 2-4 PM Coldwell Banker
57 Richmond Drive Old Greenwich $895,000 2-4 PM Coldwell Banker
1020 North Street Greenwich $897,000 12-4 PM Halstead
48 Spring Street  #8 Greenwich $949,000 12-2 PM Coldwell Banker
14 Cat Rock Road Cos Cob $965,000 1-4 PM Berkshire Hathaway
7 Essex Road Greenwich $985,000 1-3 PM Raveis
35 Center Drive Old Greenwich $1,085,000 1-3 PM Halstead
201 Cat Rock Road Cos Cob $1,195,000 1-4 PM Berkshire Hathaway
285 Bruce Park Avenue  #A Greenwich $1,195,000 1-3 PM Weichert
285 Bruce Park Avenue #B Greenwich $1,195,000 1-3 PM Weichert
323 Cognewaugh Road Cos Cob $1,225,000 2-4 PM Raveis
1017 North Street Greenwich $1,275,000 11-2 PM Douglas Elliman
6 Ferris Drive Old Greenwich $1,295,000 1-4 PM Keller Williams
12 Lockwood Drive Old Greenwich $1,295,000 1-3 PM Weichert
392 Davis Avenue Greenwich $1,395,000 12-3 PM Raveis
73 S Stonehedge Drive Greenwich $1,398,000 1-3 PM Coldwell Banker
75 Taconic Road Greenwich $1,499,000 2-4 PM Raveis
14 Summit Road Riverside $1,525,000 1-3 PM Sotheby’s
365 Round Hill Road Greenwich $1,595,000 1-3 PM Weichert
45 William Street  #A Greenwich $1,680,000 1-4 PM Berkshire Hathaway
84 Perkins Road Greenwich $1,785,000 1-3 PM Newbridge
233 Milbank Avenue  #8 Greenwich $1,795,000 2-4 PM Houlihan Lawrence
14 Palmer Terrace Riverside $1,850,000 2-4 PM Raveis
172 Cognewaugh Road Cos Cob $1,999,000 12-2 PM Coldwell Banker
24 Bedford Road Greenwich $2,150,000 12-2 PM Raveis
55 Shore Road Old Greenwich $2,195,000 1-5 PM Weichert
39 Skylark Road Greenwich $2,200,000 1-3 PM Houlihan Lawrence
16 Crescent Road Riverside $2,295,000 2-4 PM Coldwell Banker
54 Sundance Drive Cos Cob $2,299,000 1-3 PM Raveis
2 Idar Court  #A Greenwich $2,475,000 1-3 PM Coldwell Banker
39 Bedford Road Greenwich $2,500,000 11-1 PM Sheldon
10 Ridge Street  #B Greenwich $2,595,000 2-4 PM Houlihan Lawrence
5 Sylvan Lane Old Greenwich $2,750,000 1-3 PM Coldwell Banker
522 North Street Greenwich $2,785,000 1-4 PM Shore and Country
420 North Street Greenwich $2,795,000 1-4 PM Sotheby’s
106 Patterson Avenue Greenwich $2,850,000 1-4 PM Raveis
265 Valley Road Cos Cob $2,995,000 1-4 PM Higgins Group
32 Sawmill Lane Greenwich $3,195,000 2-4 PM Houlihan Lawrence
44 Cedar Cliff Road Greenwich $3,400,000 1-4 PM Coldwell Banker
9 Stallion Trail Greenwich $3,450,000 1-4 PM Berkshire Hathaway
5 Grimes Road Old Greenwich $3,595,000 2-4 PM Coldwell Banker
15 Lexington Avenue Greenwich $3,695,000 11-1 PM Coldwell Banker
95 Connecticut Avenue Greenwich $3,695,000 11-1 PM Coldwell Banker
98 North Street Greenwich $3,850,000 12-2 PM Coldwell Banker
38 Bramble Lane Riverside $3,895,000 1-4 PM Berkshire Hathaway
400 Stanwich Road Greenwich $4,295,000 2-4 PM Coldwell Banker
36 Day Road Greenwich $4,495,000 2-4 PM Coldwell Banker
30 Vineyard Lane Greenwich $4,850,000 1-3 PM Coldwell Banker
20 Langhorne Lane Greenwich $5,995,000 2-4 PM Raveis
158 Clapboard Ridge Road Greenwich $6,295,000 2-4 PM Coldwell Banker
14 Golf Club Road Greenwich $6,850,000 1:30-3:30 PM Coldwell Banker

Static Map:

Greenwich Real Estate Open Houses

Greenwich Open Houses Sunday, October 5, 2014 – 92 Open Houses – BH Celebration

 
 
Greenwich Open HousesSunday, October 5, 201410-5-14 Open Houses Printable Word Doc. 

This weekend’s 92 open houses has the most open houses on any weekend possibly ever because of Berkshire Hathaway. Of the 92 open houses 40 of them are hosted by Berkshire Hathaway and our Open House Weekend Celebration! We also have a limited number of goody bags at each BH-NE open house so stop by early to get yours.

Four of the open houses are  rentals from $5,900 per month to $14, 995 per month. The 88 homes for sale ranging from $350,000 to $7,499,000.  The high-end is well represented with 42 houses for over $2 million. We have 26 houses between $1 and $2 million and 20 houses under $2 million. As always, please check the times as they vary.

Please click here for the interactive online map. The static map appears after the list of open houses. To keep this email to a reasonable length, my 3rd quarter market report is attached as a Word document.

Thanks to Rob Pulitano for preparing the list of Open Houses and the interactive map and to Pam Toner for the hot links and the Word document attached.

 

  Address Town Price Time Broker
12 Lockwood Drive Old Greenwich $5,900 1-3 PM Weichert
14 Summit Road Riverside $6,500 1-3 PM Sotheby’s International Realty
30 Sherwood Avenue Greenwich $12,500 1-4 PM Berkshire Hathaway
212 Taconic Road Greenwich $14,995 1-4 PM Berkshire Hathaway
1465 E Putnam Avenue  #616 Old Greenwich $350,000 1-4 PM Coldwell Banker
171 Putnam Park  #171 Greenwich $399,000 1-4 PM Berkshire Hathaway
9 River Road  #409 Cos Cob $429,500 1-3 PM Sotheby’s International Realty
33 Talbot Lane  #18 Greenwich $514,000 1-4 PM Berkshire Hathaway
310 Bruce Park Avenue  #2 Greenwich $524,000 1-4 PM Berkshire Hathaway
104 River Run  #104 Greenwich $549,000 11-1 PM Berkshire Hathaway
20 High Street Greenwich $549,000 12-2 PM Coldwell Banker
150 Old North Stamford Road Stamford $575,000 1-4 PM Berkshire Hathaway
165 Pine Street Greenwich $575,500 1-3 PM Weichert
604 Hope Street  #1 Stamford $589,000 1-4 PM Berkshire Hathaway
8 Nedley Lane Greenwich $649,000 1-3 PM Raveis
6 Hartford Avenue Greenwich $649,500 1-4 PM Berkshire Hathaway
27 Bridge Street Greenwich $679,000 12-2 PM Sotheby’s
100 Strickland Road  #8 Cos Cob $710,000 1-3 PM Raveis
13 Spezzano Drive Riverside $775,000 1-4 PM Berkshire Hathaway
34 Edgewood Avenue Greenwich $795,000 1-3 PM Berkshire Hathaway
25 Tremont Street Cos Cob $795,000 2-4 PM Shore and Country
24 Pleasant Street Cos Cob $859,000 1-3 PM Weichert
57 Richmond Drive Old Greenwich $895,000 1-4 PM Coldwell Banker
4 Dandy Drive Cos Cob $975,000 1-4 PM Berkshire Hathaway
4 Waterfall Lane Cos Cob $1,075,000 2-4 PM Berkshire Hathaway
35 Center Drive Old Greenwich $1,085,000 1-3 PM Halstead Properties
94 Cognewaugh Road Cos Cob $1,195,000 2-4 PM Houlihan Lawrence
1 Ridge Road Cos Cob $1,195,000 2-4 PM Shore and Country
285 Bruce Park Ave Greenwich $1,195,000 1-3 PM Weichert
12 Lockwood Drive Old Greenwich $1,295,000 1-3 PM Weichert
69 Stanwich Road Greenwich $1,375,000 1-4 PM Berkshire Hathaway
23 Sound Beach Avenue Old Greenwich $1,379,000 1-3 PM Shore and Country
17 Indian Mill Road Cos Cob $1,395,000 1-4 PM Berkshire Hathaway
51 Glen Road Greenwich $1,395,000 1-4 PM Berkshire Hathaway
30 Sundance Drive Cos Cob $1,395,000 1-3 PM Raveis
392 Davis Avenue Greenwich $1,395,000 1-4 PM Raveis
25 Wildwood Road Stamford $1,450,000 1-3 PM Berkshire Hathaway
14 Summit Road Riverside $1,525,000 1-3 PM Sotheby’s International Realty
21 Heusted Drive Old Greenwich $1,595,000 12-4 PM Benedict Real Estate
30 Old Stone Bridge Road Cos Cob $1,595,000 1-4 PM Berkshire Hathaway
365 Round Hill Road Greenwich $1,595,000 1-3 PM Weichert
10 Stepping Stone Lane Greenwich $1,650,000 1-4 PM Berkshire Hathaway
53 Ridge Street Greenwich $1,650,000 2-4 PM Coldwell Banker
70 Bedford Road Greenwich $1,695,000 2-4 PM Coldwell Banker
276 Southfield Avenue Stamford $1,699,000 1-4 PM Berkshire Hathaway
233 Milbank Avenue  #8 Greenwich $1,795,000 1-3 PM Houlihan Lawrence
84 Perkins Road Greenwich $1,885,000 1-3 PM Newbridge
39 Bowman Drive Greenwich $1,890,000 1-4 PM Raveis
14 Palmer Terrace Riverside $1,975,000 1-3:30 PM Raveis
49 Byfield Lane Greenwich $1,995,000 11-1 PM Coldwell Banker
11 Circle Drive Greenwich $2,000,000 1-4 PM Berkshire Hathaway
112 Taconic Road Greenwich $2,000,000 1-4 PM Berkshire Hathaway
315 Field Point Road Greenwich $2,095,000 1-4 PM Berkshire Hathaway
55 Shore Road Old Greenwich $2,195,000 3-5 PM Weichert
270 Palmer Hill Road Riverside $2,250,000 2-4 PM Raveis
16 Crescent Road Riverside $2,295,000 1-3 PM Coldwell Banker
78 Butternut Hollow Road Greenwich $2,295,000 1-3 PM Coldwell Banker
54 Sundance Drive Cos Cob $2,299,000 1-3 PM Raveis
3 Azalea Terrace Cos Cob $2,399,000 1-4 PM Berkshire Hathaway
434 Riversville Road Greenwich $2,490,000 1-3 PM Berkshire Hathaway
30 Sherwood Avenue Greenwich $2,500,000 1-4 PM Berkshire Hathaway
34 Hearthstone Drive Riverside $2,500,000 1-4 PM Berkshire Hathaway
505 E Putnam Avenue Greenwich $2,590,000 1-4 PM Berkshire Hathaway
10 Newton Street Riverside $2,595,000 1-4 PM Berkshire Hathaway
180 Stanwich Road Greenwich $2,600,000 1-4 PM Berkshire Hathaway
527 Stanwich Road Greenwich $2,700,000 1-4 PM Berkshire Hathaway
268 Palmer Hill Road Riverside $2,750,000 1-3 PM Raveis
5 Lake Drive Riverside $2,795,000 1-4 PM Berkshire Hathaway
420 North Street Greenwich $2,795,000 1-4 PM Sotheby’s International Realty
1333 King Street Greenwich $2,845,000 1-4 PM Berkshire Hathaway
106 Paterson Avenue Greenwich $2,850,000 1-4 PM Raveis
197 Riverside Avenue Riverside $2,895,000 1-4 PM Berkshire Hathaway
184 Stanwich Road Greenwich $2,950,000 1-4 PM Berkshire Hathaway
7 Gisborne Place Old Greenwich $2,995,000 2-4 PM Coldwell Banker
57 Gilliam Lane Riverside $3,695,000 1-3 PM Sotheby’s
5 Lindsay Drive Greenwich $3,695,000 1-4 PM Raveis
33 Normandy Lane Riverside $3,750,000 1-4 PM Coldwell Banker
98 North Street Greenwich $3,850,000 12-3 PM Coldwell Banker
38 Bramble Lane Riverside $3,895,000 1-4 PM Berkshire Hathaway
59 Gilliam Lane Riverside $3,900,000 1-4 PM Berkshire Hathaway
212 Taconic Road Greenwich $4,200,000 1-4 PM Berkshire Hathaway
10 Esther Place Old Greenwich $4,295,000 2-4 PM Shore and Country
31 Owenoke Way Riverside $4,395,000 1-4 PM Berkshire Hathaway
29 Keofferam Road Old Greenwich $4,450,000 2-4 PM Coldwell Banker
19 Shoal Point Lane Riverside $4,500,000 11-2 PM Coldwell Banker
2 Lakewood Circle Greenwich $4,825,000 1-4 PM Berkshire Hathaway
524 North Street Greenwich $4,850,000 1-4 PM Berkshire Hathaway
22 Stillman Lane Greenwich $4,990,000 1-3 PM Weichert
421 Field Point Road Greenwich $5,700,000 1-4 PM Berkshire Hathaway
14 Hawkwood Lane Greenwich $5,950,000 1-3 PM Shore and Country
158 Clapboard Ridge Road Greenwich $6,295,000 2-4 PM Coldwell Banker
12 Byfield Lane Greenwich $7,499,000 1-4 PM Berkshire Hathaway

 


 

Static Map:

Open House Map.100314

If you have a friend that would like to get our weekly list of open houses emailed to you just drop any us an email and they will be added to our list of open housed that we email every week.

 

 

Thanks,

 

Mark

 

 

Mark Pruner          203-969-7900  – off./home/cellmark@bhhsne.com           203-869-0500 – BHHS off136 East Putnam Ave.                 203-869-3141 – fax

Greenwich, CT  06830          GreenwichStreets.com

 

Berkshire Hathaway – New England

 Greenwich Market Fall 2014 Report

 

 

 

 

Sunday Greenwich Open House, September 28, 2014 & Sept. Market Report

Greenwich Open Houses

Sunday, September 28, 2014

The fall real estate market is maintaining its momentum with 47 Open Houses, two rentals from $7,500 per month to $11,500 per month, and 45 homes for sale ranging from $449,000 to $6.795,000.  I’m hosting the first public open house at 505 E. Putnam Avenue from 1 – 4 this Sunday. This 4,000 s.f. classic Victorian sits on 1.68 acres of land in a half acre zone. The house has been extensively renovated with new kitchens and bathrooms and is just around the corner from Greenwich High School. Price is $2.59M.

Please click here for the interactive map. The static map is below followed by my market report.

Thanks to Rob Pulitano for preparing the list of Open Houses and the interactive map and to Pam Toner for the hot links and the Word document attached.

Address Town Price Time Broker
365 Round Hill Road Greenwich $7,500 1-3 PM Weichert
92 Wesskum Wood Road Old Greenwich $11,500 1-3 PM Sotheby’s
1204 Hope Street  #8 Stamford $449,000 1-4 PM Berkshire Hathaway
151 S Water Street Greenwich $470,000 11-1 PM Coldwell Banker
3 Hollow Wood Lane Greenwich $499,900 2-4 PM Raveis
184 Peck Avenue  #4 Greenwich $535,000 2-4 PM Coldwell Banker
104 River Run  #104 Greenwich $549,000 2-4 PM Berkshire Hathaway
453 E Putnam Avenue  #3b Cos Cob $565,000 1-3 PM Weichert
72 Dulan Drive Stamford $699,000 2-4 PM Berkshire Hathaway
436 Valley Road Cos Cob $749,000 1-3 PM Coldwell Banker
28 Malibu Road Stamford $825,000 1-3 PM Berkshire Hathaway
24 Pleasant Street Cos Cob $859,000 1-3 PM Weichert
2 Gerald Court Riverside $869,000 2-4 PM Coldwell Banker
63 Ethan Allen Lane Stamford $875,000 1-3 PM Berkshire Hathaway
48 Spring Street  #8 Greenwich $949,000 12-2 PM Coldwell Banker
7 Sickle Bar Lane Riverside $995,000 2-4 PM Shore and Country
51 Northfield Street Greenwich $1,195,000 1-4 PM Sotheby’s
6 Pintail Lane Greenwich $1,315,000 1-4 PM Berkshire Hathaway
392 Davis Avenue Greenwich $1,395,000 1-4 PM Raveis
30 Sundance Drive Cos Cob $1,395,000 2-4 PM Raveis
52 Benjamin Street Old Greenwich $1,399,000 1-4 PM Berkshire Hathaway
21 Heusted Drive Old Greenwich $1,595,000 1-4 PM Benedict
30 Old Stone Bridge Cos Cob $1,595,000 1-4 PM Berkshire Hathaway
45 William Street  #A Greenwich $1,680,000 1-4 PM Berkshire Hathaway
16 Mackenzie Glen Greenwich $1,799,000 1-4 PM Raveis
32 Hillside Avenue Stamford $1,850,000 1-3 PM Berkshire Hathaway
5 Idar Court Greenwich $1,899,000 1-3 PM The Relocation Grp
244 Stanwich Road Greenwich $1,925,000 1-3 PM Sotheby’s
127 Sound Beach Avenue Old Greenwich $1,995,000 1-3 PM Shore and Country
55 Shore Road Old Greenwich $2,195,000 1-3 PM Weichert
270 Palmer Hill Road Riverside $2,250,000 1-4 PM Raveis
54 Sundance Drive Cos Cob $2,299,000 2-4 PM Raveis
18 Hawkwood Lane Greenwich $2,450,000 2-4 PM Houlihan Lawrence
505 E Putnam Avenue Greenwich $2,590,000 1-4 PM Berkshire Hathaway
420 North Street Greenwich $2,795,000 1-3 PM Sotheby’s
14 Cove Ridge Lane Old Greenwich $2,850,000 1-4 PM Coldwell Banker
106 Patterson Avenue Greenwich $2,850,000 1-4 PM Raveis
265 Valley Road Cos Cob $2,995,000 1-4 PM Higgins Group
50 Indian Head Road Riverside $3,199,500 1-3 PM Coldwell Banker
44 Cedar Cliff Road Riverside $3,400,000 1-3 PM Coldwell Banker
343 Taconic Road Greenwich $3,495,000 1-4 PM Raveis
98 North Street Greenwich $3,999,000 12-2 PM Coldwell Banker
31 Owenoke Way Riverside $4,395,000 1-3 PM Berkshire Hathaway
22 Stillman Lane Greenwich $4,990,000 1-3 PM Weichert
30 Vineyard Lane Greenwich $5,100,000 1-3 PM Coldwell Banker
20 Langhorne Lane Greenwich $5,995,000 1:30-3:30 PM Coldwell Banker
229 Bedford Road Greenwich $6,795,000 1-4 PM Raveis

 

Static Open House Map:

 

Greenwich Open Houses for 9/28/14

Greenwich Open Houses for 9/28/14

 

MARKET REPORT

We have a couple of days left in September and some sales are reported late so our 26 sales so far this month will rise, but it looks like September 2014 may be a little slower than September 2013. We have some good inventory with a total of 594 single family homes on the market and 114 of those house came on this month.

The GMLS has reported 456 single family home sales, but we have about 60 private sales so far this year so this number will be higher once we get in the final numbers from SearchGreenwich.net in the middle of next month.

 

Price Sept Sale (mtd) Under Contract
<$1M 5 19
$1 – 2M 10 18
$2 -3M 8 17
$ 3 – 5 2 14
$5 – 10M 1 9
>$10M 1 1
Total 26 78

 

So if you haven’t looked yet in September now is a good time do so. We have some really nice houses (check out my 9 Tomney Road and the aforementioned 505 E. Putnam) and gorgeous weather here at the top of the fall market for a very nice open house weekend.

40 Open Houses in Greenwich for Sunday, Sept. 21, 2014

Greenwich Open Houses

Sunday, September 21, 2014

The fall real estate market is maintaining its momentum with 40 Open Houses, four rentals from $2,500 per month to $13,500 per month, and 36 homes for sale ranging from $350,000 to $5,100,000.  As always, please check the times as they vary.

Open House Map.092114

Greenwich Open House Map for 9/21/14 – Click the link for the interactive map

Please click here for the interactive map. The static map is above

 

If you are out looking at open houses please feel free to stop by my new listing at 9 Tomney Road just off lower Stanwich Road. I call it the perfect house, because it’s what many buyers are looking for; a great 4 BR, 3/2BA house on .42 acres close to town, walking distance to GHS, CMS and GCD and this 2006 house has just been redone and looks brand new.

Thanks to Rob Pulitano for preparing the list of Open Houses and the interactive map and to Pam Toner for the hot links and the Word document.

9-21-14 Open Houses in Greenwich, Ct <<— Click here for the printable Word version of the GreenwichStreets.com Open House List

Address Town Price Time Broker
64 Glenville Street  #B Greenwich $2,500 1-3 PM Houlihan Lawrence
5 Grove Street Cos Cob $4,500 2-4 PM Coldwell Banker
52 Hunt Terrace Greenwich $5,800 12-2 PM Coldwell Banker
14 Chateau Ridge Road Greenwich $13,500 1:30-3:30 PM Coldwell Banker
1465 E Putnam Avenue  #616 Old Greenwich $350,000 2-4 PM Coldwell Banker
1465 E Putnam Avenue  #427 Old Greenwich $370,000 1-3 PM Raveis
53 Rodwell Avenue  #A Greenwich $494,000 1-3 PM Keller Williams
20 High Street Greenwich $549,000 12-2 PM Coldwell Banker
165 Pine Street Greenwich $575,500 1-3 PM Weichert
6 Hartford Avenue Greenwich $649,500 1-4 PM Berkshire Hathaway
9 N Georgetown  #9 Greenwich $825,000 2-4 PM Coldwell Banker
201 Cat Rock Road Cos Cob $1,195,000 1-4 PM Berkshire Hathaway
285 Bruce Park Ave  #A Greenwich $1,195,000 1-3 PM Weichert
285 Bruce Park Ave  #B Greenwich $1,195,000 1-3 PM Weichert
52 Hunt Terrace Greenwich $1,349,000 12-2 PM Coldwell Banker
51 Glen Road Greenwich $1,395,000 1-3 PM Berkshire Hathaway
392 Davis Avenue Greenwich $1,395,000 1-4 PM Raveis
14 Summit Road Riverside $1,595,000 1-4 PM Sotheby’s
7 Osee Place Cos Cob $1,595,000 1-3 PM Sotheby’s
24 Irvine Road Old Greenwich $1,795,000 2-4 PM Anderson Assoc
32 Hillside Avenue Stamford $1,850,000 1-3 PM Berkshire Hathaway
39 Bowman Drive Greenwich $1,890,000 1-4 PM Raveis
14 Palmer Terrace Riverside $1,975,000 1-3 PM Raveis
12 Ricki Beth Lane Old Greenwich $1,995,000 2-4 PM Sotheby’s
55 Shore Road Old Greenwich $2,195,000 1-3 PM Weichert
39 Skylark Road Greenwich $2,200,000 1-3 PM Houlihan Lawrence
16 Crescent Road Riverside $2,295,000 1-4 PM Coldwell Banker
270 Palmer Hill Road Old Greenwich $2,295,000 1-4 PM Raveis
88 Dingletown Road Greenwich $2,395,000 1-4 PM William Pitt Sotheby’s
420 North Street Greenwich $2,795,000 1-3 PM Sotheby’s
9 Tomney Road Greenwich $2,950,000 1-4 PM Berkshire Hathaway
7 Gisborne Place Old Greenwich $2,995,000 2-4 PM Coldwell Banker
265 Valley Road Cos Cob $2,995,000 1-4 PM Higgins Group
603 Steamboat Road Greenwich $3,465,000 1-3 PM Weichert
98 North Street Greenwich $3,999,000 12-2 PM Coldwell Banker
20 Carpenters Brook Road Greenwich $4,100,000 11-3 PM Coldwell Banker
10 Esther Place Old Greenwich $4,295,000 2-4 PM Shore and Country
31 Owenoke Way Riverside $4,395,000 1-4 PM Berkshire Hathaway
20 Hedgegrow Lane Greenwich $4,750,000 1-3 PM Houlihan Lawrence
30 Vineyard Lane Greenwich $5,100,000 1-3 PM Coldwell Banker

 

 

Static Open House Map:

GREENWICH, CT FALL 2014 MARKET REPORT

The market is definitely looking up in the last two months. If you look at the green 2014 line, you can see that we started out with a bang as lots of buyers believed the pundits and thought interest rates were going higher in 2014. Those buyers pulled the trigger in December 2013 and January 2014.

In February, despite the pundits predictions interest rates fell and so did sales as buyers didn’t feel an urgency to buy. From March to June 2014 sales were better than 2012, but not as good as the near record year for sales that we saw in 2013.

Greenwich Real Estate Sales Take Big Leap in August 2014

Greenwich Real Estate Sales Take Big Leap in August 2014

A funny thing then happened this July, sales of single family homes exceeded the June 2014 sales. We had 95 July sales compared to 91 June 2014 sales . Normally as you can see from the 8-year average, (the light-grey line) July sales are good, but significantly below June sales. Last year sales were the same in both June and July, this year they were better. I wonder if this is the start of a trend with sales coming later in the year.

August sale continued July’s momentum this year with 84 sales the same as 2014. So far in September we have had 37 single family home sales compared to 48 for the entire month of September 2013. September 2014 sales will almost certainly be better than September 2013, when the deadlocked Congress let the government shutdown and closings were pushed into October.

As of the end of August we have had 500 single family home sales only 14 below last year and well above the 8 year average of 440 sales through the end of August.

Sales Volume

The number of sales is what gets the headlines, but when you look at the total value of home sales in 2014 compared to 2013, this year’s sales volume blows last year away. So far this year we have sold $1.39 billion worth of house in Greenwich up nearly 60% over last year. The major jump in sales from $3 -5 million and over $10 million has led to some good months for town conveyance tax collections.

New listings

In August 2014 we had 56 new listings, so far in the month of September we have had 154 new listing. This is 7 more than we had in the fall market of September 2013. The properties are spread throughout the town and they are spread out across all price ranges.

New RE Listings in Greenwich are Spread Throughout the Town

New RE Listings in Greenwich are Spread Throughout the Town

I’ve contributed my share of new listings with:

  • 9 Tomney Road as mentioned above, 4 BR, 3/2 BA on for $2,950,000 and for rent for $13,500/mo
  • 8 Howard Road a 4 BR, 2/1 BA house on the Greenwich Stamford border in the NE corner of Greenwich for $895,000
  • 28 Hollow Wood 4 lots in an R-6 zone in Pemberwick that allows multi-family units

In addition 505 E. Putnam Avenue has been reduced to $2,599,000 for the fall market and 3 Hillside Road is now $1,799,000, both are near Greenwich High School on oversized lots.

Of the 154 new listings that came on the market this month, six are already under contract and one has already closed. The market is gaining momentum, but is still spotty. Pricing is key for sellers. For buyers this is the weekend to get out and look at open houses. If you are serious about buying a house before the end of the year, this is a good time to give me a call as we have some good inventory to show you.

Sunday Open Houses August 3, 2014 & July Market Report

 

Greenwich Open Houses

Sunday, August 3, 2014

There are 28 Open Houses starting with 3 rentals from $8,000 to $10,500 per month. The Open Houses range in price from $449,900 to $4,595,000. There are plenty of homes to see in every price point. Look closely at the times as they vary.  You can use the interactive map to plan your route.

Please click here for the interactive map. The static map is below.

Thanks to Rob Pulitano for preparing the list of Open Houses and the interactive map and to Pam Toner for the hot links and the Word document attached.

You can see my weekly Market Analysis which is also published at www.greenwichstreets.com below.

 

Address Town Price Time Broker
20 Harkim Road Greenwich $8,000 2-4 PM Coldwell Banker
17 Lincoln Avenue Greenwich $10,000 1-4 PM Sotheby’s
19 Woodland Drive  #A Greenwich $10,500 12-2 PM Coldwell Banker
75 Cos Cob Avenue Cos Cob $449,900 1-3 PM Diamond Realtors
6 Hartford Avenue Greenwich $649,500 2-4 PM Berkshire Hathaway
12 Cross Street Greenwich $689,000 1-3:30 PM Raveis
10 Rex Street Greenwich $725,000 1-4 PM Berkshire Hathaway
303 Bruce Park Avenue Greenwich $735,000 12-3 PM Weichert
6 Buena Vista Drive Greenwich $799,000 12:30-4:30 PM Weichert
13 Spezzano Drive Riverside $800,000 1-3 PM Berkshire Hathaway
34 Edgewood Avenue Greenwich $815,000 2-4 PM Berkshire Hathaway
1020 North Street Greenwich $1,100,000 11-3 PM Halstead
9 Durkin Place Riverside $1,149,500 1-4 PM Berkshire Hathaway
5 Brown House Road Old Greenwich $1,225,000 1-3 PM Coldwell Banker
1017 North Street Greenwich $1,249,000 12-3 PM Coldwell Banker
12 Ridgebrook Road Greenwich $1,395,000 2-4 PM Sotheby’s
14 Surrey Drive Riverside $1,399,000 12-2 PM Raveis
51 Glen Road Greenwich $1,487,000 1-4 PM Berkshire Hathaway
75 Taconic Road Greenwich $1,499,000 12-2 PM Raveis
330 Sound Beach Ave Old Greenwich $1,545,000 1-4 PM Raveis
148 E Elm Street Greenwich $1,550,000 1-4 PM New England Land
365 Round Hill Road Greenwich $1,595,000 1-3 PM Weichert
20 Harkim Road Greenwich $1,995,000 2-4 PM Coldwell Banker
10 Maher Avenue Greenwich $2,049,000 1-3 PM Houlihan Lawrence
19 Woodland Drive  #A Greenwich $2,250,000 12-2 PM Coldwell Banker
25 Willowmere Avenue Riverside $2,295,000 3-5 PM Coldwell Banker
265 Valley Road Cos Cob $2,995,000 1-4 PM Higgins Group
146 Hendrie Avenue Riverside $4,595,000 12-4 PM Pulse Realty

 

Static Open House Map:

 OH080314

 

 

 

 

 

 

 

 

 

 

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GREENWICH REAL ESTATE MARKET REPORT FOR JULY 2014

Better than 2012, not as good as 2013, continues

Sales.SFH.2011-July2014Prelim.080314

July continues a trend that we have seen since April of this year sales are better than 2012, but not as good as in 2013. In July of this year we had 77 single family home sales reported, which once the private sales are reported will exceed the 80 sales that we had in 2012, but will not equal the all time best sales of 98 homes that we saw in July 2013.

Overall sales were distributed as we’ve seen all year:

  • Supply constrained under $1.5M
  • A balanced market from $1.5 to $4M, and
  • An improving market above $4M with plenty of supply

 

As of 8/1/14 Inventory Contracts Last Mo. Solds Solds+ Contracts YTD Solds  YTD+ Contracts Mos Supply Mos w/ Contracts Last Mo. Annlzd
< $600K 7 4 2 6 13 17 3.8 3.5 3.5
$600-$800K 18 9 8 17 30 39 4.2 3.9 2.3
$800K-$1M 18 11 8 19 30 41 4.2 3.7 2.3
$1-$1.5M 50 23 13 36 64 87 5.5 4.9 3.8
$1.5-$2M 64 13 14 27 47 60 9.5 9.1 4.6
$2-$3M 100 22 15 37 69 91 10.1 9.3 6.7
$3-$4M 77 10 9 19 50 60 10.8 10.9 8.6
$4-$5M 49 5 1 6 21 26 16.3 16.0 49.0
$5-7.5M 82 11 5 16 17 28 33.8 24.9 16.4
$7.5-$10M 35 2 0 2 6 8 40.8 37.2 -
> $10M 51 4 2 6 10 14 35.7 31.0 25.5
TOTAL 551 114 77 191 353 467 10.9
 10.0  7.2

 

Our contracts indicate that the market will continue on the same path with some improvement in the over $5 million price range. We’ve actually seen more inventory coming on in July of this year than we saw last year so the market should stay balanced overall. A more detailed report is coming next week.