This week we have 55 open houses in Greenwich. As you can see in the market report below the high market is doing much better and catching up with the rest of the market. The upper end of the market has had a sharp turn around in the last two months and is well represented in today’s open houses with 16 open houses over $3 million. If you are interested in some of our most beautiful houses check out the inverted white triangles on our interactive map of this Sunday’s open houses.
Looks like a great day to get out and see some open houses so enjoy.
| Address | Town | List Price | Time | Broker |
| 212 Taconic Road | Greenwich | $16.9K | 1-4 PM | Prudential |
| 52 Lafayette Place #4H | Greenwich | $320K | 2-4 PM | Coldwell Bnkr |
| 47 Valley Road #B1 | Cos Cob | $385K | 2-4 PM | Prudential |
| 21 High Street | Greenwich | $549K | 2-4 PM | Coldwell Bnkr |
| 4 Lafayette Court #5B | Greenwich | $550K | 2-4 PM | Coldwell Bnkr |
| 35 Pemberwick Road #2 | Greenwich | $558K | 1-3 PM | Coldwell Bnkr |
| 88 Southfield Ave #203 | Stamford | $648K | 2-4 PM | Prudential |
| 53 Locust Street 53 1/2 | Greenwich | $695K | 2-4 PM | Coldwell Bnkr |
| 12 Circle Drive Ext | Greenwich | $695K | 2-4 PM | Raveis |
| 62 Valley Road | Cos Cob | $729K | 2-4 PM | Raveis |
| 347 Riversville Road | Greenwich | $995K | 1-4 PM | Coldwell Bnkr |
| 17 Davenport Avenue | Greenwich | $1.195M | 2-4 PM | Raveis |
| 54 Hawthorne Street No | Greenwich | $1.25M | 1-3 PM | Coldwell Bnkr |
| 33 Maple Avenue | Greenwich | $1.375M | 2-4 PM | Grnwich Fine Prps |
| 240 Palmer Hill Road | Old Greenwich | $1.375M | 2-4 PM | Sotheby’s |
| 3 Tree Top Terrace | Greenwich | $1.479M | 2-4 PM | Sotheby’s |
| 25 Nearwater Lane | Riverside | $1.515M | 1-3 PM | Shore & Cntry Prop |
| 72 Stanwich Road | Greenwich | $1.59M | 2-4 PM | Sotheby’s |
| 2 Bote Court | Greenwich | $1.595M | 2-4 PM | Grnwich Fine Prps |
| 15 Linwood Avenue | Riverside | $1.599M | 1-4 PM | Weichert |
| 68 Lockwood Road | Riverside | $1.695M | 1-4 PM | Prudential |
| 12 Bryon Road | Old Greenwich | $1.795M | 1-4 PM | Coldwell Bnkr |
| 20 Lockwood Road | Riverside | $1.95M | 2-4 PM | Sotheby’s |
| 5 Dartmouth Road | Cos Cob | $1.995M | 2-4 PM | Sotheby’s |
| 164 Dolphin Cove Quay | Stamford | $1.999M | 2-4 PM | Prudential |
| 11 Angus Lane | Greenwich | $2.195M | 2-4 PM | Raveis |
| 2 Finney Knoll Lane | Riverside | $2.195M | 1:30-3:30 | Raveis |
| 48 Highview Avenue | Old Greenwich | $2.295M | 2-4 PM | Raveis |
| 40 Lincoln Avenue | Greenwich | $2.385M | 2-4 PM | Coldwell Bnkr |
| 19 Cresent Road | Riverside | $2.395M | 1-3 PM | Raveis |
| 299 Palmer Hill Road | Old Greenwich | $2.399M | 1-4 PM | Raveis |
| 12 Shore Road | Old Greenwich | $2.675M | 2-4 PM | Grnwich Fine Prps |
| 22 Tomac Avenue | Old Greenwich | $2.689M | 1-4 PM | Grnwich Cust RE |
| 208 Dolphin Cove Quay | Stamford | $2.695M | 2-4 PM | Prudential |
| 6 Hemlock Drive | Greenwich | $2.775M | 2-4 PM | Sotheby’s |
| 10 Deep Gorge Road | Greenwich | $2.85M | 2-4 PM | Grnwich Fine Prps |
| 30 Sherwood Avenue | Greenwich | $2.85M | 1-3 PM | Prudential |
| 9 Oakley Lane | Greenwich | $2.95M | 1-4 PM | Coldwell Bnkr |
| 46 Will Merry Lane | Greenwich | $3.1M | 1-4 PM | Prudential |
| 240 Riverside Avenue | Riverside | $3.199M | 1-3 PM | Coldwell Bnkr |
| 93 Orchard Drive | Greenwich | $3.499M | 2-4 PM | Grnwich Fine Prps |
| 514 Riverville Road | Greenwich | $3.55M | 2-4 PM | Sotheby’s |
| 25 Nawthorne Road | Old Greenwich | $3.599M | 12-3 PM | Raveis |
| 7 Hearthstone Drive | Riverside | $3.795M | 1-4 PM | Coldwell Bnkr |
| 4 Cove Ridge Lane | Old Greenwich | $3.875M | 2-4 PM | Sotheby’s |
| 20 West End Avenue | Old Greenwich | $4.189M | 1-4 PM | Higgins Grp |
| 396 North Street | Greenwich | $4.2M | 1-4 PM | Prudential |
| 212 Taconic Road | Greenwich | $4.395M | 1-4 PM | Prudential |
| 5 Grimes Road | Old Greenwich | $4.495M | 1-3 PM | Raveis |
| 150 Clapboard Ridge | Greenwich | $4.49M | 1-4 PM | Raveis |
| 45 Baldwin Farms So | Greenwich | $4.995M | 1-3 PM | Sotheby’s |
| 14 Red Coat Lane | Greenwich | $6.4M | 2-4 PM | Sotheby’s |
| 421 Field Point Road | Greenwich | $6.4M | 1-4 PM | Prudential |
| 28 East Point Lane | Old Greenwich | $7.995M | 1-3 PM | Sotheby’s |
Thanks to Rob Pulitano for preparing the list of open houses and the interactive map and Jared Randall for the hot links. (Also sorry for the delay in getting this out, I just got three new listing including a beautiful $5 MM property on Round Hill and three active buyers so thing have been a little busy actually doing real estate work.)
HIGH END MARKET REPORT FOR GREENWICH, CT – September 22, 2013
September has been the month where you can see the high end market has started to really take off. If you been following my weekly market reports you know that sales under $1.5 million have been hot all year. As summer came along the hotness moved up the price ladder to around $3 million. The market over $7.5 million had been very slow with only two sales above that price prior to June 2013.
In August however, 140 Indian Head Road, 76 Winding Lane, 185 Taconic and 5 Old Round Hill Road all four went to contract. Two of these four have already closed; 140 Indian Head Road closed at $11.9MM and 5 Old Round Hill Road closed for $10,375,000. In addition to these two September sales, 164 Round Hill Road closed this month for $15MM.
Sales are what economists like to look, but for buyers and sellers accepted offers, contracts and months of supply are a much better way of looking at what is going on in the market at any given moment. So far this month we’ve had two listing get accepted offers in only 3 days. Both 555 Lake Avenue (listed for $26,500,000) and 5 Conyers Farm Drive (listed for $11,995,000) accepted offers right after going on the market. In fact 555 Lake Avenue already has gone to executed contract. We also had 40 Field Point Circle sell for $24,000,000 in a private estate sale. Anytime you see houses at the price move off the market that fast something has changed.
Clearly the high end market is coming back. Many buyers have been in the market for months and even years waiting for the right time to buy. Three factors that have been talked about motivating this trend are the end of the Fed’s bonds buying, the de Blasio factor and the improving economy. One potential buyer said that with interest rates going up the question became what to do with their bonds that would likely be dropping in value as the Fed reduced that stimulus effort. Even with the Fed sticking to its stimulus efforts for now Greenwich real estate looked like a good place to invest.
The second factor mentioned to me by a retired investment banker is the concern among New York City’s high income earners about NYC Democratic mayoral candidate Bill de Blasio. De Blasio wants to raise taxes on everyone earning more than $500K/year to pay for child care. He said that with Mayour Bloomberg leaving and likely to be replaced by Public Advocate Bill de Blasio, a classic NY tax and spend liberal, Greenwich is looking like a really good place.
Lastly the economy is doing better and housing price are up nationwide so people are looking to reallocate assets into real estate. Having said all this at the moment we still have very much of a buyer’s market in this price range. We just got 19 new listings over $7.5 million come on the market in September as sellers want to move on to their next home(s).
If I were a buyer in this price range I’d be looking now as you have a good variety of choices, interest rates are still down for those looking to leverage their investment and a potential stampede 🙂 out of New York is just in its beginning phase.
| Address | Stat | L/Price | C/Price | SP/LP | SP/SqFt | SqFt | Acres | Assmt | CD | ADOM | Bds | Bths | Gar# | MillRt | SP/Asmt | Zone |
| 555 LAKE AV | AOCTS |
26,500,000 |
18954 |
8.23 |
11178370 |
3 |
8 |
11 |
5 |
11.311 |
RA-2 | |||||
| 5 CONYERS FARM DR | AOCTS |
11,995,000 |
14706 |
12.77 |
4689790 |
3 |
8 |
8 |
6 |
10.675 |
RA-4 | |||||
| 44 CONYERS FARM DR | CCONTR |
14,500,000 |
12716 |
14.49 |
7827750 |
535 |
6 |
6 |
4 |
10.675 |
RA-4 | |||||
| 16 HURLINGHAM DR | ECONTR |
12,950,000 |
11980 |
10 |
6731410 |
83 |
6 |
8 |
4 |
10.39 |
RA-4 | |||||
| 6 MEADOWCROFT LN | ECONTR |
13,750,000 |
13196 |
8.07 |
7142520 |
168 |
6 |
8 |
8 |
10.39 |
RA-2 | |||||
| 76 WINDING LN | ECONTR |
11,750,000 |
16912 |
4.55 |
7639380 |
353 |
6 |
6 |
3 |
10.11 |
RA-2 | |||||
| 135 TACONIC RD | ECONTR |
14,950,000 |
14974 |
4.52 |
7110390 |
475 |
6 |
10 |
5 |
10.675 |
RA-4 | |||||
| 5 OLD ROUND HILL LN | SOLD |
10,750,000 |
10,375,000 |
0.965 |
737 |
14082 |
2.13 |
7360360 |
9/16/2013 |
181 |
6 |
8 |
4 |
10.675 |
1.41 |
RAC-4 |
| 435 LAKE AV | SOLD |
8,500,000 |
7,925,000 |
0.932 |
976 |
8122 |
2.15 |
4245360 |
5/13/2013 |
91 |
6 |
6 |
3 |
11 |
1.867 |
RA-1 |
| 516 NORTH ST | SOLD |
8,500,000 |
7,500,000 |
0.882 |
608 |
12334 |
2.75 |
5924170 |
6/3/2013 |
151 |
6 |
7 |
3 |
10.39 |
1.266 |
RA-2 |
| 75 CLAPBOARD RIDGE RD | SOLD |
10,350,000 |
9,050,000 |
0.874 |
0 |
2.5 |
5197360 |
7/3/2013 |
217 |
6 |
6 |
3 |
10.39 |
1.741 |
RA-2 | |
| 140 INDIAN HEAD RD | SOLD |
12,395,000 |
11,900,000 |
0.96 |
891 |
13363 |
2.17 |
7461440 |
9/17/2013 |
377 |
7 |
6 |
3 |
10.675 |
1.595 |
RA-1 |
| 164 ROUND HILL RD | SOLD |
15,750,000 |
15,000,000 |
0.952 |
876 |
17121 |
4.17 |
8415750 |
9/6/2013 |
454 |
8 |
10 |
6 |
10.675 |
1.782 |
RA-1 |
| 41 MEADOWBANK RD | SOLD |
9,500,000 |
8,100,000 |
0.853 |
1,671 |
4847 |
1.02 |
5757850 |
6/10/2013 |
440 |
5 |
4 |
3 |
11 |
1.407 |
R-12 |
| 12 MEADOWCROFT LN | SOLD |
10,950,000 |
9,850,000 |
0.9 |
736 |
13391 |
2 |
4826710 |
8/7/2013 |
576 |
7 |
7 |
3 |
10.39 |
2.041 |
RA-2 |
| 25 LINDSAY DR | SOLD |
8,900,000 |
8,000,000 |
0.899 |
679 |
11778 |
2 |
4222260 |
3/11/2013 |
444 |
6 |
7 |
4 |
10.39 |
1.895 |
RA-2 |
| 21 MIDWOOD DR | SOLD |
11,999,000 |
10,650,000 |
0.888 |
650 |
16378 |
2.5 |
6598270 |
6/28/2013 |
1456 |
7 |
8 |
6 |
11 |
1.614 |
RA-2 |
GreenwichStreets.com 