Address	Town	Price	Time	Broker
1535 E Putnam Av #307	Old Greenwich	$270,000	2-4 PM	Berkshire Hathaway
171 Putnam Park #171	Greenwich	$409,000	1-4 PM	Berkshire Hathaway
5 Silver St	Greenwich	$490,000	2-4 PM	Anderson
51 Forest Ave #131	Old Greenwich	$595,000	1-4 PM	Re/Max
3 Green Ln	Greenwich	$729,500	2:30-5 PM	Berkshire Hathaway
561 River Rd	Cos Cob	$799,000	1-4 PM	Raveis
24 Caroline Pl	Greenwich	$799,000	1-3 PM	Ogilvy
82 Northfield Ave #A	Greenwich	$928,000	1-4 PM	Berkshire Hathaway
30 Caroline Pl	Greenwich	$1,195,000	1-4 PM	Raveis
88 Starin Dr	Stamford	$1,699,000	1-4 PM	Berkshire Hathaway
469 Taconic Rd	Greenwich	$1,782,900	11:30-1:30 PM	Weichert
11 Angus Ln	Greenwich	$1,999,999	1-3 PM	Raveis
12 Ricki Beth Ln	Old Greenwich	$2,275,000	1-4 PM	Berkshire Hathaway
17 Candlelight Pl	Greenwich	$2,295,000	1-4 PM	Berkshire Hathaway
55 Shore Rd	Old Greenwich	$2,349,000	1-4 PM	Weichert
37 Day Rd	Greenwich	$2,395,000	1-3 PM	Coldwell Bnkr
37 Day Rd	Greenwich	$2,395,000	1-3 PM	Coldwell Bnkr
299 Palmer Hill Rd	Old Greenwich	$2,399,000	1-4 PM	Raveis
16 Lakeview Dr	Riverside	$2,595,000	1-4 PM	Berkshire Hathaway
15 Dearfield Ln	Greenwich	$2,865,000	1-4 PM	Berkshire Hathaway
87 Perkins Rd	Greenwich	$3,000,000	1-4 PM	Berkshire Hathaway
15 Meadow Marsh Rd	Greenwich	$3,195,000	12-3 PM	Pru-Brad Hvolbeck
122 Clapboard Ridge Rd	Greenwich	$3,600,000	1-4 PM	Berkshire Hathaway
7 Binney Ln	Old Greenwich	$3,995,000	2-4 PM	Houlihan
20 West End Av	Old Greenwich	$4,189,000	1-4 PM	Higgins Grp
585 Round Hill Rd	Greenwich	$4,495,000	2-4 PM	Coldwell Bnkr
11 Cove Rd	Old Greenwich	$4,900,000	1-4 PM	Berkshire Hathaway
18 Pinecroft Rd	Greenwich	$6,500,000	1-4 PM	Berkshire Hathaway
421 Field Point Rd	Greenwich	$6,500,000	1-4 PM	Berkshire Hathaway

 

This Sunday on 10/20/13 we have an amazing 73 open houses. If you are interested in houses over $2MM then you’ll have 34 to choose from. Under a one million dollars we have 18 open houses. The foliage is also near its peak so it’s a nice day for drive.

 

OPEN HOUSE LIST FOR OCTOBER 20, 2013

 

You can see the interactive map here.

 

 

 

 

 

Address	Town	Price	Time	Broker
1535 E Putnam Ave #107	Old Greenwich	$          244,000	1-3 PM	Raveis
52 Lafayette Pl  #4B	Greenwich	$          279,900	2-4 PM	Raveis
3 Putnam Hill  #2E	Greenwich	$          375,000	1-3 PM	Raveis
25 Forest St #7A	Stamford	$          405,000	1-4 PM	Berkshire Hathaway
171 Putnam Park  #171	Greenwich	$          409,000	1-4 PM	Berkshire Hathaway
9 River Rd  #408	Cos Cob	$          439,000	1-3 PM	Houlihan Lawrence
201 River Run  #201	Greenwich	$          549,000	1-4 PM	Raveis
72 Weaver St	Greenwich	$          588,000	2-4 PM	Coldwell Bnkr
265 Bruce Park Av	Greenwich	$          595,000	2-4 PM	Coldwell Bnkr
115 Halstead Av  #B	Greenwich	$          649,000	1-3 PM	Raveis
53 1/2 Locust St 53	Greenwich	$          695,000	1-3 PM	Coldwell Bnkr
11 River Rd  #122	Cos Cob	$          699,000	1-3 PM	Houlihan Lawrence
561 River Rd	Cos Cob	$          799,000	1-4 PM	Raveis
197 Sheephill Rd  #D	Riverside	$          825,000	2-4 PM	Coldwell Bnkr
24 Caroline Place	Greenwich	$          875,000	1-3 PM	Ogilvie
40 Ettl Lane #14	Greenwich	$          890,000	1-3 PM	Weichert
43 Sinawoy Rd	Cos Cob	$          899,000	2-4 PM	Coldwell Bnkr
4 Mianus View Ter	Cos Cob	$          999,000	2-4 PM	Sotheby’s
50 Bedford Rd	Greenwich	$      1,100,000	1-3 PM	Coldwell Bnkr
6 Heusted Dr	Old Greenwich	$      1,150,000	1-3 PM	Shore & Cntry
11 Manor Rd	Old Greenwich	$      1,195,000	2-4 PM	Coldwell Bnkr
30 Caroline Pl	Greenwich	$      1,195,000	1-4 PM	Raveis
67 Sound Beach Av	Old Greenwich	$      1,250,000	12-3 PM	Coldwell Bnkr
49 Indian Mill Rd	Cos Cob	$      1,295,000	1-4 PM	Raveis
11 Steep Hollow Ln	Cos Cob	$      1,395,000	1-4 PM	Coldwell Bnkr
69 Stanwich Rd	Greenwich	$      1,399,950	12-2 PM	Coldwell Bnkr
6 Highview Av	Old Greenwich	$      1,495,000	1-3 PM	Coldwell Bnkr
236 Bedford Rd	Greenwich	$      1,595,000	1-4 PM	Berkshire Hathaway
111 Lake Av	Greenwich	$      1,595,000	2-4 PM	Houlihan Lawrence
68 Lockwood Rd	Riverside	$      1,695,000	1-4 PM	Berkshire Hathaway
70 Bedford Rd	Greenwich	$      1,695,000	1-3 PM	Coldwell Bnkr
276 Southfield Ave	Stamford	$      1,725,000	1-4 PM	Berkshire Hathaway
2 Buxton Ln	Riverside	$      1,795,000	12-3 PM	New England Land
14 Perryridge Rd	Greenwich	$      1,895,000	1-3 PM	Shore & Cntry
2 Carriage Rd	Greenwich	$      1,925,000	2-4 PM	Coldwell Bnkr
300 Taconic Rd	Greenwich	$      1,925,000	2-4 PM	Sotheby’s
5 Dartmouth Rd	Cos Cob	$      1,995,000	2-4 PM	Sotheby’s
11 Angus Ln	Greenwich	$      1,999,999	2-4 PM	Raveis
13 St. Claire Ave	Old Greenwich	$      2,000,000	2-4 PM	Sotheby’s
88 Birch Ln	Greenwich	$      2,050,000	2-4 PM	Sotheby’s
27 Stepping Stone Ln	Greenwich	$      2,250,000	1-3 PM	Raveis
145 Shore Rd (Rear)	Old Greenwich	$      2,295,000	2-4 PM	Raveis
55 Shore Rd	Old Greenwich	$      2,349,000	1-4 PM	Weichert
83 Burning Tree Rd	Greenwich	$      2,450,000	1-4 PM	Coldwell Bnkr
83 Burning Tree Rd	Greenwich	$      2,450,000	1-4 PM	Coldwell Bnkr
15 Baldwin Farms So	Greenwich	$      2,495,000	1-3:30 PM	Raveis
36 Winthrop Dr	Riverside	$      2,495,000	1-4 PM	Raveis
17 Hawkwood Ln	Greenwich	$      2,590,000	11:30-1:30 PM	Coldwell Bnkr
15 Palmer Ter	Riverside	$      2,599,000	1-3 PM	Raveis
18 St Claire Av	Old Greenwich	$      2,695,000	1-4 PM	Berkshire Hathaway
10 Gaston Farm Rd	Greenwich	$      2,775,000	2-4 PM	Houlihan Lawrence
30 Sherwood Av	Greenwich	$      2,850,000	1-3 PM	Berkshire Hathaway
317 Stanwich Rd	Greenwich	$      2,895,000	2-4 PM	Coldwell Bnkr
6 Interlaken Rd	Greenwich	$      2,995,000	1-3 PM	Raveis
1333 King St	Greenwich	$      3,100,000	1-3 PM	Sotheby’s
240 Riverside Av	Riverside	$      3,149,000	2-4 PM	Coldwell Bnkr
54 Dingletown Rd	Greenwich	$      3,225,000	2-4 PM	Sotheby’s
72 Shore Rd	Old Greenwich	$      3,275,000	2-4 PM	Raveis
522 North St	Greenwich	$      3,300,000	2-4 PM	Coldwell Bnkr
3 Cherry Blossom Ln	Greenwich	$      3,350,000	11-1 PM	Coldwell Bnkr
10 Ledge Rd	Old Greenwich	$      3,450,000	2-4 PM	Berkshire Hathaway
43 Sterling Rd	Greenwich	$      3,495,000	2-4 PM	Sotheby’s
5 Sylvan Ln	Old Greenwich	$      3,500,000	1-4 PM	Raveis
16 Binney Ln	Old Greenwich	$      3,745,000	2-4 PM	Raveis
7 Hearthstone Dr	Riverside	$      3,795,000	2-4 PM	Coldwell Bnkr
33 Ballwood Rd	Old Greenwich	$      3,895,000	1-3 PM	Houlihan Lawrence
7 Binney Ln	Old Greenwich	$      3,995,000	1-3 PM	Houlihan Lawrence
10 Spring House Rd	Greenwich	$      4,250,000	2-4 PM	Coldwell Bnkr
150 Clapboard Ridge Rd	Greenwich	$      4,295,000	2-4 PM	Raveis
12 Baldwin Farms So	Greenwich	$      5,295,000	1-3:30 PM	Raveis
434 Round Hill Rd	Greenwich	$      5,795,000	1-3 PM	Raveis
122 Old Church Rd	Greenwich	$      7,495,000	11-1 PM	Coldwell Bnkr
516 Round Hill Rd	Greenwich	$      7,775,000	1-3 PM	Houlihan Lawrence

 

 

Thanks to Rob Pulitano for preparing the list of open houses in airport in Dallas while between planes and the interactive map and to Pam Toner for the hot links.

 

The Congressional debacle has made for a strange real estate market. The Greenwich real estate market had been doing well.  July and August were stellar months for sales as you can see from the chart (blue line for 2013) then sales fell off drastically in September to 49 houses sold from 57 house in September 2012.  In reality the situation was even worse than the chart shows for the public market.

 

Fourteen of the 49 sales in September or 29% were private sales that weren’t listed leaving only 34 sales on the GMLS. Usually we see a handful of sales each month as private transactions. The last time we saw such a large number of private transactions was in December of 2012 when lots of people sold off real estate to avoid the January 2013 increase in the capital gains tax.

The $3 – 4 Market in Greenwich, CT

           Supply

In all of Greenwich there are 523 total listings. Of this number 238 houses are priced from $2 – 5 million as of the end of the beginning of October. Of 238 listing, 93 houses are priced between $3 and $4 million, our second biggest price range. In the $3 – 4 million price range in Greenwich proper we have 65 listings and 42 of those properties are in mid-country nearly half are in mid-country. Bottom line we have a good supply of very nice houses in this price range.

Demand

 

Months of Supply

 

Since the beginning of the 2013 to the end of September, 497 single family homes have sold in all of Greenwich. Between $3 and $4 million 35 homes have sold and of those 20 homes are in mid-country Greenwich. We also have 8 pending contracts or accepted offers as of the beginning of October.

This chart shows months of supply of single family homes in Greenwich by price range as of the end of September. Up to $2 million dollars the market is very active and is a seller market. The $2 – 3 million price range is a transition range. In the price range from $3 – 7.5 million we have an average of 2 years of supply. This market had been slowly getting better through August, but sales slowed in September due to increasing problems in the U.S. Congress.

 

Also the market in this price range is better than this snapshot shows. The upper range has been getting better particularly in July and August then inventory jumped as over 100 new listings came on with the fall market. With uncertainty in Congress buyers took a wait and see approach. The red bars which include contracts as well as sales YTD indicate that sales should hold up over the next couple of months as these contracts close.

Raw Numbers

 

The chart below highlights the absolute number of houses listed and YTD sales. Sales for the $3 – 4 million are better than the higher price ranges, but still not at pre-recession levels.

 

October Real Estate Update

So far in October we have had 29 homes sales. The large majority of house sales, 23 houses, have been below $3MM. We have seen the very high end bouncing back as we have had an additional sale over $10MM with 135 Taconic selling for $14MM. We also have had 3 houses sell between $5 and 7.5MM. Of the 94 listings we have between $3 and 4MM we have had only 1 sale so far this month.

The Greenwich Time has a good article about how the over $10 million market took a sudden uptick in September. I get quoted briefly at the end.

GREENWICH REAL ESTATE THIRD QUARTER MARKET REPORT

Two Good Months and a Bad Congress

July and August 2013 were stellar months for the sale of single family homes in Greenwich. In July we had 98 homes sales which is pre-recession sales activity. The really amazing thing about the July sales level is that it was same as June 2013, which never happens. June is almost always the month that leads the year for most home sales so to see the same level in July shows an accelerating market.

The market acceleration continued in August when we had 84 sales up 20% from August 2012’s 70 sales. We looked to be on track for the best post-recession year of all and then came Congressional gridlock and news stories of a government shutdown.

 

\

Congressional Gridlock Kills September Sales

Nothing is worse for high end sales than economic uncertainty and we saw that in September 2013. Last September 57 homes were sold in Greenwich, this September we only have 34 sales reported by the Greenwich MLS. We will pick up a few more private sales when the final numbers are reported by the Town Clerk, but we are still going to be down around a third from last September.

The under $1.5 million are driven by expanding families and a desire to get out of NYC apartments and were not affected in September. The big hit in September sales was the over $3 million where deals are more often done for cash and many people already have a very nice place and can put off  pulling the trigger.  In September out of 241 listings we only had one sale between $3 and $10MM.

 

NYC Mayoral Candidate de Blasio Helping Greenwich Sales Particularly at the Top

The Greenwich market under $1.5 million has been hot all year and under $1 million it’s been combat buying (see article below about how to be the winning buyer in a hot market). As the year went on sales momentum climbed up the price range, but our market over $10 million stayed moribund with one sale prior to August. In September all of that changed as we had 4 houses over $10 million sell. Now some of this pick up in high-end activity was simply contracts that had accumulated over the course of the year finally closing, but we saw two listings over $10 million get accepted offers in 3 days in September.

With 12 years of Mayor Bloomberg coming to an end, upper income NYC residents are very concerned about candidate Bill de Blasio’s stated intention to raise their already high taxes. Greenwich is looking even better and it’s not just at the very top. Buyers even in the under $2 million dollar range are citing the change of administration as a reason to look in Greenwich.

Interest rates are down, families keep expanding sales and Greenwich is Greenwich; so the market under $2 million will stay busy. Over this price the U.S. Congress needs to stop playing politics and get back to work helping, not hurting the economy.  If Congress gets their act together Greenwich sales are likely to get a double political boost from Washington and New York City.

October Update

The September trends continued in October. So far in October we have had 19 sales of single family homes. Of these 15 are under $3MM and three are between $3MM and $10MM, which is already triple the number of sales in that price range that we had in September. We do have 11 pending contracts and offers in this price range, but even so we still have 241 houses between $3 and $10 million. We also have another sale over $10MM with 135 Taconic selling for $14MM after 475 days on the market so the ultra-high end is continuing to perk up.

 

GREENWICHSTREETS.COM OPEN HOUSE LIST FOR SUNDAY OCTOBER 13, 2013

You can see a the live interactive map of all open houses

here and the copy below.

 

Address	Town	List Price	Time	Broker
7 Mead Avenue	Cos Cob	$2,650	1-3 PM	Shore & Cntry
11 Edgewood Drive	Greenwich	$5,500	1-3 PM	Weichert
1535 E. Putnam Ave #107	Old Greenwich	$244,000	1-3 PM	Raveis
16 Beach View Drive	Stamford	$749,000	1-4 PM	Berkshire Hathaway
32 Cliff Avenue #3	Greenwich	$799,000	1-3 PM	FF Rlty
24 Caroline Place	Greenwich	$839,000	2-4 PM	Ogilvy
17 Candlelight Place	Greenwich	$2,295,000	1-4 PM	Berkshire Hathaway
10 Ledge Road	Old Greenwich	$3,450,000	1-4 PM	Berkshire Hathaway
7 Hearthstone Drive	Riverside	$3,795,000	1-4 PM	Coldwell Bnkr
19 Desiree Drive	Greenwich	$4,195,000	2-4 PM	Ogilvy
10 Spring House Road	Greenwich	$4,250,000	2-4 PM	Coldwell Bnkr

Thanks to Rob Pulitano for preparing the list of open houses and the interactive map and Jared Randall for the hot links.

We have 46 open houses this week. Leaves are changing in the backcountry and it should be a beautiful day to see some beautiful houses.

You can see a the interactive map of all open houses here.

 

Address	Town	List Price	Time	Broker
1465 E. Putnam Avenue # 419	Old Greenwich	$339K	1-3 PM	Raveis
79 Harbor Drive	Greenwich	$465K	1-4 PM	BHHS
72 Weaver Street	Greenwich	$588K	2-4 PM	COBA01
98 Riverdale Av Ext.	Greenwich	$625K	1-4 PM	BHHS01
61 Greenwich Hills #61	Greenwich	$675K	2-4:30 PM	Raveis
32 Cliff Avenue #3	Greenwich	$799K	1-3 PM	FF Rlty
24 Caroline Place	Greenwich	$875K	2-4 PM	Ogilvy
40 Ettl Lane	Greenwich	$890K	2-4 PM	Weichert
43 Sinawoy Road	Cos Cob	$899K	2-4 PM	COBA01
43 Sinawoy Road	Cos Cob	$899K	2-4 PM	COBA01
107 Stanwich Road	Greenwich	$950K	2-4 PM	bhhs
15 E Lyon Farm Drive #15	Greenwich	$1.245M	1-4 PM	SOTH01
633 Steamboat Road #1	Greenwich	$1.3M	1-3 PM	COBA02
33 Maple Avenue	Greenwich	$1.375M	2-4 PM	GRFP01
240 Palmer Hill Road	Old Greenwich	$1.375M	2-4 PM	SOTH01
6 Highview Avenue	Old Greenwich	$1.495M	1-3 PM	COBA02
28 Mianus View Terrace	Cos Cob	$1.495M	1-3 PM	Weichert
25 Nearwater Lane	Riverside	$1.515M	1-3 PM	SCPR01
2 Bote Court	Greenwich	$1.595M	2-4 PM	GRFP01
13 Richmond Drive	Old Greenwich	$1.695M	1-3 PM	SCPR01
11 Angus Lane	Greenwich	$1.999M	1-3 PM	Raveis
2 Carriage Road	Greenwich	$2.05M	2-4 PM	COBA01
17 Candlelight Place	Greenwich	$2.295M	1-4 PM	bhhs
299 Palmer Hill Road	Old Greenwich	$2.399M	1-4 PM	Raveis
16 Lakeview Drive	Riverside	$2.595M	1-4 PM	BHHS01
36 Winthrop Drive	Riverside	$2.695M	1-4 PM	Raveis
35 Keofferam Road	Old Greenwich	$2.795M	2-4 PM	SCPR01
119 Doubling Road	Greenwich	$2.795M	1-3 PM	Raveis
10 Deep Gorge Road	Greenwich	$2.85M	2-4 PM	GRFP01
15 Dearfield Lane	Greenwich	$2.995M	1-4 PM	BHHS01
76 Cat Rock Road	Cos Cob	$2.999M	1-4 PM	COBA01
87 Perkins Road	Greenwich	$3M	1-4 PM	BHHS01
3 Hearthstone Drive	Riverside	$3.125M	1-3 PM	SCPR01
72 Shore Road	Old Greenwich	$3.275M	2-4 PM	Raveis
20 Roosevelt Avenue	Old Greenwich	$3.595M	1-4 PM	BHHS01
25 Nawthorne Road	Old Greenwich	$3.599M	1-3 PM	Raveis
122 Clapboard Ridge Road	Greenwich	$3.6M	1-4 PM	BHHS02
150 Pecksland Road	Greenwich	$3.685M	2-4 PM	GRFP01
16 Binney Lane	Old Greenwich	$3.745M	2-4 PM	Raveis
150 Clapboard Ridge Road	Greenwich	$4.295M	2-4 PM	Raveis
585 Round Hill Road	Greenwich	$4.495M	2-4 PM	COBA01
30 Oneida Drive	Greenwich	$4.55M	1-3 PM	COBA01
11 Cove Road	Old Greenwich	$4.9M	2-4 PM	Keleher Grp
26 Glen Avon Drive	Riverside	$4.95M	2-4 PM	Centric Prop
100 Club Road	Riverside	$5.495M	1-4 PM	SOTH01
122 Old Church Road	Greenwich	$7.495M	1-3 PM	COBA01

Thanks to Rob Pulitano for preparing the list of open houses and the interactive map and Jared Randall for the hot links.