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FEEL FREE TO VISIT WWW.GREENWICHREALESTATEGUY.COM/BLOG AS SOME OF THE CHARTS AND GRAPHS DO NOT TRANSFER OVER AS WELL.
Find out what's happening in Greenwichfor free with the latest updates from Patch.
The above beautiful setting is located at 36 Shore Road in Old Greenwich. Direct waterfront on Tomac Cove priced at $3.295M. The house is listed at 3,529 s.f. with incredible Long Island Sound views. The house holds four bedrooms, three full baths, and two fireplaces. With 100 feet of direct waterfront I thought this was the perfect house to feature for the first weekend of summer.
Find out what's happening in Greenwichfor free with the latest updates from Patch.
I have not had a chance to update the graphs, but currently overall in Greenwich we are about 11% down from last year in unit sales. With how strong January started this is a disappointment. The positive is prices are up. However, last year we had a very difficult luxury market. Properties over $10M sold at a snail's pace last year. When you couple that with the fact that the highest residential property in the United States sold in Greenwich this year it makes sense that the properties are rising. We continue to see the lower priced markets be the most competitive but are seeing promising signs in the $3M-$4M range. In my opinion this would be a good time to trade up in the market in Greenwich. As the lower price points are more competitive than the higher, so if you can jump a price range you will be adding value.
The newsletter has had a lot of new subscribers over the last month so I wanted to take a second to explain the sections. The first section is the featured property, with a short weekly roundup of the market. The next couple of sections are charts and analysis of the market concluding with a months on average chart so one can see how their price range is doing compared to other price ranges as well as compared to earlier months and years. Following the analysis is the Open house list. I use a myriad of sources including the Greenwich Times, Greenwich Multiple Listing Service, Fairfield County Multiple Listing Service, as well as Real Estate websites such as Trulia and Zillow.
I have invested in my own MLS Search for my readers. This will give access to a lot of the listing information I have. Also, if I have already set you up with your personal portal, you will now be able to search your own searches outside of what I set up for you. Feel free to test out and search properties. I feel the best attribute is that you can save your own search and choose to get alerts as new properties come on to the market, properties are sold, or change in price. All specific to your customized search. Hence, you will speed up your learning curve, becoming an expert in the specific market you care about.
Please let me know if you would like me to provide customized information or statistics for you based on your criteria.
**The information on the featured property and all statistical information is from the Greenwich MLS.
**All opinions garnered from the statistics are my own
Properties Sold
As mentioned above we finished April with only 55 properties sold down 13% from last year. May looks even scarier with only 30 sold halfway through the month.
New Listings
We have 90 new listings already half way through May. A little concerning that new listings are up and sales are down. Luckily, we do have the 190 properties under contract or pending.
The percentages are starting to level off as we get through the year. The biggest jump over the last few weeks was the $1.5M-$2M range where it went from 15%-17%. 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. This one below is the amount of months on average to sell through our current inventory based on 2014 ytd sold numbers by price range.
I believe these chart above and below best show the Greenwich market. We had an influx of inventory lately. However, if you look at the specific price ranges 0-$500K dropped from 7 months to 5.5. When looking closely you notice over the last six weeks the under $1.5M became more competitive, where the $1.5M-$4M became less competitive adding approximately three months per price range. The $4M-$7.5M range is ice cold, and the luxury market of over $7.5M has actually done pretty well.
The chart below is the amount of months on average to sell throughcurrent inventory based on all of 2013 sold numbers by price range.
I find these two charts to be very intriguing. One can see the huge discrepancy based on the 2013 numbers between the luxury market and under $3M. However, at the top if we use the inventory based on the ytd sold numbers it is not as definitive. The luxury market is doing much better than last year and each market seems to be doing relatively well.
Open Houses June 22nd Below are the 54 Open Houses for Sunday.
Street NameAreaList PriceTimeOffice171 Putnam ParkGreenwich$425K1-4 p.m.BHHS453 Putnam Avenue #4HCos Cob$575K1-4 p.m.BHHS1 Scott RoadGreenwich$695K1-3 p.m.Coldwell70 Riverdale Avenue #1004Greenwich$730K12-2 p.m.Raveis303 Bruce Park AvenueGreenwich$749K12-3 p.m.Weichert1 Idlewild ManorGreenwich$789K1-3 p.m.Coldwell51 Forest Avenue #75Old GreenwichS799K2-4 p.m.Weichert6 Buena Vista DriveGreenwich$839K1-3 p.m.Weichert37 Amherst DriveRiverside$895K1-3 p.m.Raveis160 Valley RoadCos Cob$995K2-4 p.m.Raveis73 Mead AvenueGreenwich$995K1-4 p.m.Raveis15 Lyon FarmGreenwich$1.195M1-3 p.m.Sotheby's172 Field Point #4Greenwich$1.225M1-3 p.m.Sotheby's1017 North StreetGreenwich$1.249M2-4 p.m.Coldwell7 Ronald AvenueCos Cob$1.275M12-2 p.m.Coldwell347 Riversville RoadGreenwich$1.295M1-4 p.m.Coldwell73 Stonehedge DriveGreenwich$1.438M1-3 p.m.Coldwell51 Glen RoadGreenwich$1.487M1-4 p.m.BHHS469 Taconic RoadGreenwich$1.499M1-3 p.m.Weichert392 Davis AvenueGreenwich$1.57M1-3 p.m.Raveis148 E. Elm StreetGreenwich$1.595M1-4 p.m.New England Land365 Round Hill RoadGreenwich$1.595M2-4 p.m.Weichert75 Taconic RoadGreenwich$1.599M1-3 p.m.Sotheby's31 Widgeon WayGreenwich$1.675M2-4 p.m.Raveis106 Hunting RidgeGreenwich$1.695M1-4 p.m.BHHS65 Fairfield RoadGreenwich$1.695M1-3 p.m.Raveis24 Shore RoadOld Greenwich$1.695M2-4 p.m.Houlihan Lawrence2 Carriage RoadCos Cob$1.995M2-4 p.m.Coldwell333 Sound BeachOld Greenwich$2.065M1-3 p.m.Shore and Country11 Circle DriveGreenwich$2.15M1-4 p.m.BHHS24 Bedford RoadGreenwich$2.15M2-4 p.m.Raveis55 Shore RoadOld Greenwich$2.195M1-3 p.m.Weichert21 Martin DaleGreenwich$2.25M1-3 p.m.Sotheby's4 Robin PlaceOld Greenwich$2.295M1-4 p.m.BHHS270 Palmer HillRiverside$2.35M1-4 p.m.Raveis27 Dandy DriveCos Cob$2.395M1-3 p.m.Sotheby's10 Newton StreetRiverside$2.595M2-4 p.m.BHHS33 Pleasant StreetRiverside$2.749M1-3 p.m.Keller Williams151 Shore RoadOld Greenwich$2.795M1-3 p.m.Shore and Country5 Lake DriveRiverside$2.895M2-4 p.m.BHHS34 Grossett RoadRiverside$3.295M1-3 p.m.Halstead44 Cedar Cliff RoadRiverside$3.4M1-3 p.m.Coldwell180 North StreetGreenwich$3.425M11-12:30 p.m.Coldwell20 Heronvue RoadGreenwich$3.5M2-4 p.m.Coldwell150 Riverside AvenueRiverside$3.85M1-3 p.m.Sotheby's18 Perryridge RoadGreenwich$3.995M1-3 p.m.Houlihan Lawrence38 Bramble LaneRiverside$3.995M1-4 p.m.BHHS20 Carpenters BrookGreenwich$4.1M1-3 p.m.Coldwell1 Midwood RoadGreenwich$4.395M2-4 p.m.Houlihan Lawrence26 Glen Avon DriveRiverside$4.495M2-4 p.m.BHHS19 Shoal Point LaneRiverside$4.85M10-12:00 p.m.Coldwell27 Stillman LaneGreenwich$5.199M1-3 p.m.Sotheby's20 Langhorne LaneGreenwich$6.195M1-3 p.m.Coldwell158 Clapboard RidgeGreenwich$6.449M1-3 p.m.Coldwell
Best, Jared Randall Join my Mailing ListHoulihan Lawrence Greenwich Search Propertieswww.greenwichrealestateguy.com Forward to a Friendcell: 203-273-1034 View My Websiteemail: jrandall@houlihanlawrence.com Like me on Facebook
Mortgage Information
There are two individuals I feel most confident about when it comes to home mortgages. One in Manhattan and one in Greenwich. They are Jeff Ihrig of First Republic in Manhattan, and in Greenwich I prefer Treena David-Chirico of Wells Fargo NMLSR ID 404288.
Jeff can be reached at 646-372-5181. Treena's phone number is 203-618-3923. You can go to her website to input your specific information to receive rates. Her website is www.wfhm.com/treena-david-chirico.
