Page 2 | Greenwich Sentinel
June 2021 Neighborhood Report ...a fly in the ointment?
By Mark Pruner Last week we looked at the superlative sales in the Greenwich real estate market, but is there a fly in the ointment, straws in the wind, or even an approaching storm, then again I may just be making a mountain out of mole hill? (The publisher is not fan idioms, sorry Beth. They are in this article in spades ;) Our sales have been sp e c t ac u la r over t he last 1 2 months and June was the biggest month for sales ever. But for Realtors, sales are like looking in the rear view mirror, because sales are deals that happened one to two months ago, not what the market is doing now. A Busy July So Far Looking at the first 20 days of July YTD, we have 604 sales for the year, which means we’ve already sold 15% more houses in 2021 than in all of 2019 when we only had 526 sales. Of those 604 sales, 93 of them happened in the first 20 days of July, which is already 20 sales above our 10-year average for all of July. A Fly in the Ointment The f ly in the ointment is contracts. We have 191 contracts wa it i ng to close i n m id-Ju ly compared to 208 contracts at the end of July last year. Now 17 contracts is not a lot and sales from week to week are a roller coaster ride. We may still see cont rac ts exce e d last ye a r ’s numbers, but the trend is not in that direction. Our weekly contract signings peaked in the first week of May at 57 contracts and has been mostly down since
then. Last week we were down to only 26 contract signings. The chicken littles may actually think the sky is falling, but this drop in contracts probably just shows a return to some level of normalcy - though at a higher level than normal. Our sales nearly always peak in June, or occassionally in July. This means that contract signings are seeds that are planted in April or May, so that closings can bloom in June and July. This drop in contracts then may not be a fly in the ointment, but only a stray flake of pepper. Since, we are look ing for straws in the wind, another shiver down your back can be seen in our inventory numbers. If you look at the inventory numbers they look like a fraternity tug of war between the Betas and the Deltas. The Betas (contract signings) moved the numbers slightly down for the first two month of the year to a low of only 273 listing at the end of February. For the first two months, we had more buyers than we had inventory, but only by a smidgen. Then the Super Bowl came along, the off icial start of the spring market, and the brothers from Delta (new listings) started moving the numbers back as more listings came on than went to contract. Our inventory was like Lindbergh trying to gain altitude on his take-off from Roosevelt Field. We were climbing, but not real fast. By May we were still climbing but we were still flying nape of the earth. Our altitude should have been in the 600’s and even the 700’s listing number, but the best we could do was to peak at 342 listings in the first week of June. Since then we have been on a gentle decline to 310 listings this week. At this rate, Lindberg never would have made it off of Long Island. For the Greenwich market, this drop in inventor y when
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our contracts are also dropping, means that a bunch of the Betas and Deltas have headed for the bar and of the ones that are left, it is the Betas (contract signings) are winning. (Beth also dislikes mixed metaphors. ;) This drop in inventory happens nearly every year, but not from such a low altitudes. Over a Thousand This Year? Where are sales headed for the rest of this year? If you use a pencil and a ruler to make predictions, then you can take our first half sales of 511 and double them and expect to see our first calendar year with more than 1,000 sales. July sales would say that we are well on the way to hitting that number, but our contracts, and more importantly, our sliding inventory make it look like we won’t break a millenary.
Another sign of a slowing market from frenzied to more normal is the number of expired listings. In the first half of the year with sales up 93% and inventory d ow n 4 5% - m a k i n g f o r a n incredibly pro-seller market - we still had 78 listings expire unsold. These expired listings were across the board in pricing from $749K to $32M. We have some very well informed buyers and pushing the envelope on pricing too far just pops the bubble. Our Neighborhoods That’s the story townwide, but how are our neighborhoods doing? The short answer is mostly they are doing very well to great and the areas that look like they aren’t doing doing well are mostly victims of the law of the small numbers. For example, the days on market in Banksville is up
90%, but that’s because one of the five sales this year in Banksville had been on the market for 650 days. Sales in Banksville, Byram, Glenville and South of the Post Road were all up more than 150%. The average price north of the Parkway was up 85%, but that was due to more high-end houses selling. When you look at the average of the sold price/sf that was up 41% and the sales price to assessment ratio was up 27%. Backcountry is definitely back. Ever y neig h b orhoo d, but Byram, saw the average sales price to the assessment ratio go up by double digits from 12% south of the Parkway to 27% north of the Parkway. Days on market dropped by 44% and the average sales price to original list price was up 9% to 95.6% with several neighborhoods
being above 98%. Buyers are not getting much of discount off of list price. In the first half of the 2021 we sold $1.54 billion of single family homes up 133% from last year’s first half. This number all of the numbers should be taken with a grain of salt as the record breaking months didn’t start until August of 2020. So we are comparing the best half year sales ever in Greenwich to what was actually a slow first half as the Covid lock down slowed everything. Stay tuned, this rest of the year won’t all be smooth sailing, but it looks like another America’s cup win for the town. Mark Pruner is a Realtor in Greenwich, CT. He can be reached mark@bhhsne.com or 203-9697900.
Page 3 | Greenwich Sentinel
NativePollinatorPlant ENTRIES DUE BY 8.31.21
ENTER THE GREENWICH BOTANICAL CENTER
PHOTO GRAPHY CONTEST Greenwich Botanical Center Win prizes CONTEST: and the promotion submittedPlants photos of PHOTO Native of Pollinator native pollinator plants such as:
Greenwich Botanical Center launches its NATIVE POLLINATOR PLANT PHOTOGRAPHY CONTEST during pollinator week and is now accepting submissions through August 31st.
SINGLE STEMS
MEADOWS
NATIVE HYDRANGEAS
GARDENS
The contest is open to anyone who has planted pollinator plants in their garden thru August 31, 2021, no matter where they were purchased. Winners will be announced on September 18 @ 2:00pm during a gallery viewing in the GBC auditorium of all hard copy entries. There will be a digital version of all entrants during the show with educational exhibits.
PLANTS IN CONTAINERS
PROFESSIONAL Need Inspiration? Here are a few ideas for your photo composition: PERSPECTIVES
NativePhotos Hydrangeas...cannot go wrong andby photographing & entry forms must by beplanting emailed 8.31.21 to these beautiful crowd pleasing shrubs that add structure to any garden. Marketing@greenwichbotanicalcenter.org • Pollinator Plant...sometimes is in the simplicity of a solo specimen but make sure the or submitted onlinebeauty at greenwichbotanicalcenter.org audience understands its role in pollination. •
• Contain It! What could be more exciting than corralling the wild into manageable areas so that wildlife can come up close especially if that container educates its audience about its value in nature.
Join us for the Awards Reception on • Backyard Beauties...show us your pollinator plot full of native2:00pm plants and pollinators. Saturday, September 18th, ENTRIES DUE • Go Native...any picture of a native found on our Greenwich properties and paths with an artistic at the Greenwich Botanical Center BY 8.31.21 representation of which pollinator is supported by it.
NativePollinatorPlant
ENTER THE GREENWICH • Professional Perspective...time to let our landscapers and land managers show us how it is BOTANICAL CENTER done. ENTRY FORM PLEASE READ CAREFULLY. ENTRY DEADLINE: AUGUST 31. 2021
1. All images must be taken of native pollinator plants. Bonus if your plant was purchased at the Greenwich Botanical Center Greenhouse. Make sure to mark the plant in your image. 2. All photography and editing must be the work of the entrant. 3. No more than 3 entries per entrant. 4. All entries must be accompanied with an entry form. 5. Images are to be sent to Marketing@greenwichbotanicalcenter.org /Photo Contest, JPEG format or Mail to: Greenwich Botanical Center, P.O. Box 1600, Cos Cob, CT 06807
PHOTOGRAPHY
CONTEST
Win Pollinator prizesPlant and the promotion Attn: Native Photo Contest.
of submitted photos of native pollinator plants such as:
For more information contact us at 203-869-9242 or email LisaC@greenwichbotanicalcenter.org.
Finalists will be notified by September 10th and asked to bring their original artwork or an 8x10 image of their photograph or artwork mounted on foam core to the awards reception.
SINGLE STEMS
MEADOWS
Please join us for the Awards Reception on Saturday, September 18th, 2:00 pm at GBC, 130 Bible Street, Cos Cob, CT. Prizes will be awarded, and winning submissions will be promoted on GBC’s social media, GBC website and in local press.
NATIVE HYDRANGEAS
GARDENS
PLEASE PRINT PLANTS IN CONTAINERS
PROFESSIONAL NAME____________________________________________________________________________________ PERSPECTIVES ADDRESS________________________________________________________________________________
Photos & entry forms must be emailed by 8.31.21 to CONTACT PHONE #: ______________________________ Email _____________________________________ Marketing@greenwichbotanicalcenter.org or submitted online at greenwichbotanicalcenter.org DESCRIPTION__________________________________________________________________________ _____________________________________________________________________________________
If I am a finalist, I will bring my entry to the reception on Saturday, September 18th to be displayed. Upon submission, all entries will become the property of Greenwich Botanical Center (GBC). YES! Initial here ______.
Join us for the Awards Reception on FOR OFFICE USE: Date Submitted____________ Received by:18th, ___________________ Entry #____________ Saturday, September 2:00pm Greenwich Botanical Center | P.O. Box 1600; 130 Bible Street | Cos Cob, CT 06807 at the| Greenwich Botanical Center 203-869-9242 GreenwichBotanicalCenter.org | info@greenwichbotanicalcenter.org
Page 5 | Greenwich Sentinel
Frank J. Gaudio President/CEO 203.302.4375
REAL ESTATE DASHBOARD NEW LISTINGS
Address
Data Compiled by Cesar Rabellino (203) 249-9866 Price/ List Price SqFt AC BR FB SqFt
15 Highland Place 28 Putnam 28 100 Strickland Road 1 151 Putnam 151 96 Silo Circle 96 31 Crawford Terrace Terrace 69 Brother Drive 28 Griffith Road 102 River Road 20 Ridge Road 64 Hillside Road 46 Oval Avenue 33 Wildwood Drive 72 Zaccheus Mead Lane 21 Mohawk Lane 37 Davenport Avenue 1 14 Dewart Road 125 Cat Rock Road 138 Havemeyer Place 59 Connecticut Avenue 587 North Street 14 Dawn Harbor Lane 48 Clapboard Ridge Road 17 Hemlock Drive
$560,000 $675,000 $677,500 $689,000 $825,000 $1,125,000 $1,195,000 $1,250,000 $1,295,000 $1,295,000 $1,299,000 $1,395,000 $1,650,000 $1,695,000 $2,250,000 $2,350,000 $2,700,000 $3,795,000 $3,900,000 $3,995,000 $4,500,000 $6,900,000 $8,900,000 $9,850,000
$381 $550
1,470 1,227
0.11
$492 $478 $470 $509 $564 $704 $606 $697 $616 $376 $510 $687 $1,028 $379 $725 $1,168 $655 $928 $1,138 $485
1,676 2,353 2,544 2,456 2,296 1,839 2,145 2,001 2,677 4,510 4,414 3,421 2,627 10,006 5,377 3,420 6,868 7,438 7,823 20,298
0 0.28 0.51 0.17 0.15 0.23 0.72 0.19 0.43 3.68 4.92 0 2.17 2.01 0.16 0.14 1.59 0.89 2.98 4.18
0
3 2 2 3 2 4 4 4 4 3 3 3 4 4 5 3 3 5 4 5 6 5 5 14
2 2 2 2 2 3 4 2 2 3 2 2 2 3 4 3 3 6 4 5 6 6 5 13
REAL ESTATE DASHBOARD EDITOR Mark Pruner | Mark@GreenwichStreets.com | mark@bhhsne.com
Pemberwick South of Post Road Cos Cob South of Post Road Riverside Riverside South of Post Road Riverside Cos Cob Cos Cob South Parkway Riverside South of Post Road South Parkway North Parkway South of Post Road South Parkway Cos Cob South of Post Road South of Post Road South Parkway Riverside South Parkway South Parkway
NEW SALES
Address
Data Compiled by Cesar Rabellino (203) 249-9866 Original List List Price Sold Price DOM BR FB Acres SqFt
52 Lafayette Place 3E 37 Sheephill Road 7 33 Ettl Lane 16 Windy Knolls A 124 Lyon Farm Drive 124 40 Ettl Lane 18 14 Riverview Court 411 Lyon Farm Drive 411 141 Weaver Street 45 Riverside Lane 33R Orchard Street 11 Circle Drive 34 Buckfield Lane 66 Gregory Road 78 Long Meadow Road 24 Daffodil Lane 33 Wesskum Wood Road 119 Lockwood Road 90 Connecticut Ave UNIT N 15 Palmer Lane 184 Parsonage Road 12 Shore Road 107 Perkins Road 1 Meadow Road 8 Hedgerow Lane 111 Conyers Farm Drive 3 Meadowbank Road 73 Richmond Hill Road 41 Baldwin Farms 16 Benjamin Street 19 Desiree Drive 2 Oneida Drive B2 44 Stanwich Road 133 Parsonage Road 53 Round Hill Road 17 Wooddale Road 22 Stoney Wylde Lane 2 Lighthouse Lane
$495,000 $730,000 $675,000 $825,000 $880,000 $925,000 $925,000 $1,200,000 $1,449,000 $1,975,000 $2,199,000 $2,200,000 $1,985,000 $2,375,000 $2,400,000 $2,450,000 $2,395,000 $2,695,000 $2,975,000 $3,290,000 $3,350,000 $2,950,000 $3,375,000 $3,750,000 $4,450,000 $6,468,888 $4,225,000 $4,495,000 $4,495,000 $4,795,000 $4,295,000 $5,495,000 $5,250,000 $4,950,000 $7,395,000 $6,195,000 $6,795,000 $8,500,000
$495,000 $705,000 $675,000 $799,000 $880,000 $925,000 $925,000 $1,200,000 $1,449,000 $1,925,000 $2,199,000 $2,200,000 $1,985,000 $2,375,000 $2,400,000 $2,450,000 $2,395,000 $2,695,000 $2,975,000 $3,200,000 $3,350,000 $2,950,000 $3,375,000 $3,750,000 $4,295,000 $5,100,000 $4,225,000 $4,495,000 $4,495,000 $4,795,000 $4,295,000 $5,195,000 $5,250,000 $4,950,000 $6,300,000 $6,195,000 $6,300,000 $8,500,000
$495,000 $670,000 $685,000 $790,000 $880,000 $925,000 $965,000 $1,200,000 $1,500,000 $1,800,000 $2,199,000 $2,200,000 $2,226,000 $2,330,000 $2,400,000 $2,555,500 $2,650,000 $2,655,000 $2,975,000 $3,090,000 $3,134,000 $3,275,000 $3,333,000 $3,700,000 $4,105,000 $4,225,000 $4,225,000 $4,275,000 $4,625,000 $4,795,000 $4,819,000 $4,900,000 $5,050,000 $5,280,000 $5,925,000 $6,175,000 $6,290,000 $7,375,000
34 106 6 316 11 44 44 97 15 59 85 99 13 31 15 43 91 39 37 37 1,007 360 47 42 28 9 79 64 21 239 34 58 24
2 2 3 3 2 3 4 3 3 5 4 4 4 5 5 5 4 5 3 5 5 4 5 4 7 6 4 5 6 6 5 4 6 6 5 6 6 3
REAL ESTATE DASHBOARD CONTRIBUTORS Robert Pulitano | RobertPulitano@bhhsne.com Cesar Rabillino | CesarRabellino@bhhsne.com Pam Toner | PamToner@bhhsne.com
Area
2 2 2 2 2 3 2 2 2 3 4 3 4 4 4 6 3 5 3 6 5 5 4 3 7 8 4 5 8 6 6 4 4 8 8 6 7 3
0 0 0.2 0.17 0 0 0.68 0 1.2 0.18 0.42 0.28 2.9 0.31 0.31 2.05 0.48 0.31 0 0.33 1.25 0.3 2.33 0.34 2.2 18.43 0.35 4.01 2.46 0.37 2.01 4.25 1.52 3.87 2.9 2 0.6
1,250 1,720
2,590 1,704 2,588 2,300 2,236 2,930 3,400 3,200 5,100 3,064 5,559 4,217 6,335 3,658 4,148 3,848 4,833 5,018 4,004 6,615 4,630 7,658 13,749 4,464 6,228 9,042 7,253 6,424 6,033 5,745 8,244 8,526 8,631 10,138 2,596
FEATURED OPEN HOUSES Data Compiled by Rob Pulitano [203] 561-8092 Address
Area
Riverside 50 Lafayette Place #4A Greenwich 28 Putnam #28 Greenwich 37 Almira Drive Greenwich 152 Harpsichord Tpke Stamford 29 Sound Beach Avenue Old Greenwich 105 Lockwood Road Riverside 54 Doubling Road Greenwich 72 Lockwood Road Riverside 69 W Brother Drive Greenwich 69 W Brother Drive Greenwich 14 Dewart Road Greenwich 10 Spring House Road Greenwich Greenwich 5.25x10.5.qxp_Layout 1 3/26/21 138 Havemeyer Place Greenwich
46 Sunshine Avenue RENTAL
Price
$ 5,700 $ 589,900 $ 675,000 $ 799,000 $ 848,000 $1 ,095,000 $ 1,788,000 $ 1,995,000 $ 2,000,000 $ 2,195,000 $ 2,195,000 $ 2,700,000 $ 3,895,000 10:48 AM Page 1 $ 3,900,000
Day/Time
Broker
Sun 1-3 PM Sun 1-3 PM Sun 1-3 PM Sat 12:30-3 PM Sun 1-3 PM Sun 11-1:30 PM Sun 1-4 PM Sun 12-2 PM Sun 1-3 PM Sun 1-3 PM Sun 1-3 PM Sun 2-4 PM Sun 1-3 PM Sun 1-4 PM
Sotheby's Sotheby's Sotheby's Coldwell Banker Realty Berkshire Hathaway Coldwell Banker Realty Berkshire Hathaway Berkshire Hathaway Berkshire Hathaway Coldwell Banker Realty Coldwell Banker Realty Houlihan Lawrence William Raveis Sotheby's
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Mandatory, Maximum Twice-Weekly Sprinkler Irrigation Schedule Last Digit of Your Address Number Please Water Only On: 0, 2, 4, 6 or 8 (even numbers) Sunday & Wednesday 12:01 am – 10:00 am, or 6:00 pm – Midnight
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1, 3, 5, 7 or 9 (odd numbers)
Saturday & Tuesday 12:01 am – 10:00 am, or 6:00 pm – Midnight
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Sunday & Wednesday 12:01 am – 10:00 am, or 6:00 pm – Midnight
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