Greenwich, CT Residential Real Estate Blog and Analysis: April 25th

 I have updated all stats and the open house list.  This is the busiest weekend of the year so far in regards to open houses.  We have a total of 70 this weekend. I will be hosting an open house of my listing this Sunday from 1-4 p.m. at the above pictured 10 Palmer Terrace in Riverside.  Please come see this beautiful home in a phenomenal location:

Exceptional Colonial on Private Cul-de-Sac in Coveted Riverside Neighborhood

Exquisite 4 bedroom, versatile multi-level farmhouse style colonial, completely and masterfully rebuilt and expanded with brand new construction in 2005, boasts antique Australian cypress floors, a custom-designed chef's kitchen, and a wonderful outdoor granite stone patio with level lawns.   Ideally situated on a very quiet cul-de-sac steps away from the train station, Riverside elementary and Eastern middle schools.

A remarkable gourmet kitchen affords top-of-the-line appliances with rich granite countertops including a center island with breakfast bar seating, a side wet baking station, large farmhouse sink and plenty of well-appointed storage which gracefully unfolds into a family room, with French door access to the large sunny patio, a spacious dining area and living room, anchored by a gas fireplace and enclosed custom granite wet bar, cabinetry and wine refrigerator. A powder room sits just off the entryway.

Ascend half a flight of stairs to the quiet sleeping quarters, with copious closet space, one en-suite bedroom as well as two additional bedrooms with a shared hall bath.

The top floor offers a private oasis, with an incredible master bedroom highlighted by a vaulted ceiling, skylights and full bath with steam shower and separate office space. This sundrenched room affords countless possibilities such as an artist's studio or playroom. A separate staircase leads to a hardwood floor attic, easily converted to more living space.

Descend a couple of steps to an additional family room, also well suited as a media room or home office, complete with outdoor access to a blue stone front terrace and manicured front lawn.

The lower level features optimal space for relaxation (or as a possible in-law or au-pair suite) with a full bath, laundry facilities, a 500 bottle naturally cooled wine cellar as well as backyard and two car garage access.

A great opportunity to own in the best location in Riverside!

Special Features/Bullet Points:

4 bedrooms

4.5 baths

3281 sq. ft.

.028 acres

Built in 1956/57, rebuilt in 2005

Air conditioning 2 condensers

Forced air- gas heating 2 furnaces

3 climate controlled zones

Central fire, security, gas and carbon monoxide monitor system

Gas fireplace with remote control and thermostat

Two car extra height garage plus parking bay

2 electric panels

Copper gutters

Clapboard siding and Cedar shingle trim

The listing price is $2.375M.

I will be out of town next week, so will not be able to send the newsletter.  Mark Pruner of www.greenwichstreets.com does a comprehensive open house list as well you can check out if you read this blog for the open house list.

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.  

We currently have 628 total properties for sale in Greenwich.  That is up over a hundred since March 1. We are also catching up to the inventory of last year.  Last year at this time we had 655 total properties for sale based on my April 26th, 2013 newsletter.  Now, it is a five percent more competitive market this year than last year.

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

We had forty four properties sell in March, which was the exact same amount as last year.  So far in April, we have had 41 properties sell, which is on track for less than last year when we had 65 properties sell.

We ended up with 120 new listings in March and already have 146 new listings in April.  As you can see above March was above last year's but below 2011 and 2012, while April is really behind the amount of new listings last year.

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 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.

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.

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.