Q1 REPORTMARKET DARIEN • ROWAYTON • NEW CANAAN
EASTLAGRANGEVILLEDUTCHESSFISHKILLBREWSTERSPRINGCOLD CHAPPAQUASOMERS IRVINGTONARDSLEYBRIARCLIFFMANOR PLAINSWHITE NEW ROCHELLE YORKTOWN BEDFORD/POUND RIDGE SCARSDALE LARCHMONT BRONXVILLE YONKERSWESTCHESTERPUTNAMARMONKRYEKATONAHPELHAMMILLBROOKFAIRFIELD RHINEBECK GREENWICH DARIEN ROWAYTONRIVERSIDENEW CANAAN CROTON-ONHUDSON 1 ,���+ AGENTS. ONE SIMPLE MISSION. We hire the best agents in the business. Each brings a wealth of knowledge and expertise about their local communities. Each has their own style. What every agent shares is a commitment to service and Houlihan Lawrence’s legacy of leadership. WHITE GLOVE SERVICE. LOCAL EXPERTISE. A PASSION FOR GETTING RESULTS.
Darien.LizNunanPresidentand CEO
As of the end of March, the number of homes for sale in Darien, New Canaan, and Rowayton are down 44%, 41%, and 64%, respectively, compared to the same date last year. This inventory shortage creates challenges for buyers seeking to relocate from the City or elsewhere. What is less obvious but equally important is the challenge created for potential sellers who fear having nothing to buy once they sell. Additionally, we see potential “downsizers” choosing to remain in their larger home to accommodate multiple family members who may be working from home. The net result of these factors is a persistent lack of inventory across all local markets. Demand, on the other hand, is at record-setting levels in our markets. The number of showings has increased substantially year-over-year and, with so few homes for sale, it is not uncommon to have more than one buyer competing for a property. This competition leads to multiple bid situations, which inevitably lead to price increases, and local sellers who price their homes properly benefit. While the sales data contained herein is welcome news for sellers in our area, we hasten to point out that the vast majority of our buyers continue to place a premium on homes in “move-in” condition. The properties experiencing the highest levels of demand are either newly constructed or recently Thankrenovated.you to the community, our clients, agents, and staff for your support as Houlihan Lawrence remains the leading brokerage serving
Stephen ChairmanMeyers FIRST QUARTER 2021 EXECUTIVE SUMMARY
During the first quarter of 2021, home sales in all local markets continued at the same fevered pace which marked most of last year. Clearly, Darien, New Canaan, and Rowayton remain attractive destinations for homebuyers seeking a more bucolic setting to spend more time at home. After 12 months of pandemic-fueled demand and record sales, the supply of homes for sale remains at recordsetting lows across all local markets.
HOULIHANLAWRENCE.COM 2021Q1 2020Q1 CHANGE% full year 2020 full year 2019 CHANGE% Homes Sold F ull Year Homes Sold Year -to-dat e PRICSALESMEDIANE SOLDHOMESOFNUMBER 0 $300 ,0 00 $600 ,0 00 $900 ,0 00 $1,200 ,0 00 $1 ,5 00 ,0 00 5040030200100000 2014 2015 2016 2017 2018 2019 2020 2021ytd20132012 270 277 268 286 250 305 262 276 437 darien 31 438$1,200,000 $1,350,000 $1,462,247 $1,442,500 $1,350,000 $1,425,000 $1,350,000 $1,240,000 $1,425,000 $1,276,325 29 40 32 45 47 40 41 60 64 DARIEN TEN-YEAR MARKET HISTORY to%OnDaysPerAverageSaleAveragePricePriceSquareFootMarketSalePriceListPrice QUARTERLY MARKET OVERVIEW HOMES MEDIANSOLDSALE PRICE AVERAGE SALE PRICE AVERAGE PRICE/ SQUARE FOOT DAYS ON MARKET % SALE PRICE TO LIST PRICE $1,535,018$1,276,32564$45310797.33% $1,225,00060$1,359,488$41817096.03% -37.06%12.91%6.67%4.19%8.34%1.36% NEWYORK NEW CANAANDARIEN ROWAYTON STAMFORD NORWALKWILTON to%OnDaysPerAverageSaleAveragePricePriceSquareFootMarketSalePriceListPrice$1,478,314$44912095.38% $1,618,805$46812396.79% $1,619,782$47510997.46% $1,705,979$50410596.85% $1,673,647$49011096.67% $1,676,744$47712696.44% $1,603,743$45912295.59% $1,534,435$42914795.14% $1,655,525$44712497.07% $1,535,018$45310797.33%
$1,425,000437$1,655,525$44712497.07% $1,240,000276$1,534,435$42914795.14% -15.65%58.33%14.92%7.89%4.08%2.03%
HOULIHANLAWRENCE.COM AS OF MARCH 31, ���1 AS OF MARCH 31, ���� ���1 vs. ���� 3/31/211/1/21- 3/31/201/1/20- %CHANGE2021/2020 4/1/20-3/31/21 3/31/204/1/19- %CHANGE DARIEN *Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand PRICE RANGE $0$5,000,000$3,000,000$2,500,000$2,000,000$1,500,000$1,000,000$700,000$500,000$499,999-$699,999-$999,999-$1,499,999-$1,999,999-$2,499,999-$2,999,999-$4,999,999andup 27194119617156 LISTINGSSUPPLY:ACTIVE 1618237815131 DEMAND:PENDINGSALES 623111111 DEMANDSUPPLY/RATIO* Market Totals 114 83 1 SUPPLY/DEMAND ANALYSIS 425131931721295 LISTINGSSUPPLY:ACTIVE 049217312 DEMAND:PENDINGSALES Not15211153376Valid DEMANDSUPPLY/RATIO* 208 29 7 CHANGE%LISTINGSIN CHANGE% PENDINGSIN -54.80%-55.60%-66.70%-38.70%-47.10%-64.70%-19.00%-48.30%20.00% 1400.00%300.00%100.00%50.00%-22.20%157.10%166.70%550.00%NotValid -45.20% 186.20% Source: DMLS, Darien, Single Family Homes, Sold SOLD PROPERTIES Market Totals 64 60 6.70% PRICE RANGE $0$5,000,000$3,000,000$2,500,000$2,000,000$1,500,000$1,000,000$700,000$500,000$499,999-$699,999-$999,999-$1,499,999-$1,999,999-$2,499,999-$2,999,999-$4,999,999andup 241041125441 21657133320 Not100.00%-80.00%-33.33%42.90%14.30%-7.70%66.67%33.33%Valid 13874214914235342 60221292522614116 150.00%-66.67%-4.50%23.30%50.00%75.00%61.50%209.10%-66.67% YEAR-TO-DATE 441 295 49.50% YEAR-OVER-YEAR
HOULIHANLAWRENCE.COM 2021Q1 2020Q1 CHANGE% full year 2020 full year 2019 CHANGE% ROWAYTON TEN-YEAR MARKET HISTORY to%OnDaysPerAverageSaleAveragePricePriceSquareFootMarketSalePriceListPrice QUARTERLY MARKET OVERVIEW to%OnDaysPerAverageSaleAveragePricePriceSquareFootMarketSalePriceListPrice NEWYORK NEW CANAANDARIEN ROWAYTON STAMFORD NORWALKWILTON $1,245,525$45411993.92% $1,135,079$3749995.18% $1,340,895$43911797.00% $1,273,027$43513695.60% $1,337,149$46414595.44% $1,379,318$45910995.08% $1,273,418$4469296.74% Homes Sold F ull Year Homes Sold Year -to-dat e PRICSALESMEDIANE SOLDHOMESOFNUMBER 0 $1,200$900,$600,$300,000000000,000$1,500,000 5040030200100000 2014 2015 2016 2017 2018 2019 2020 2021ytd20132012 59 69 76 74 82 87 69 84 116 rowayton 13 124 $1,010,000 $878,300 $979,750 $1,187,500 $1,205,000 $1,325,000 $975,000 $1,207,750 $1,217,000 $1,512,500 12 8 14 15 15 11 11 17 18 $1,276,696$43913996.13% $1,345,651$45311097.60% $1,627,340$50810699.09% HOMES MEDIANSOLDSALE PRICE AVERAGE SALE PRICE AVERAGE PRICE/ SQUARE FOOT DAYS ON MARKET % SALE PRICE TO LIST PRICE $1,512,50018$1,627,340$50810699.09% $819,00017$998,182$36814994.59% -28.86%84.68%5.88%63.03%38.01%4.76% $1,217,000116$1,345,651$45311097.60% $1,276,696$1,207,75084$43913996.13% -20.86%38.10%0.77%5.40%3.01%1.54%
HOULIHANLAWRENCE.COM AS OF MARCH 31, ���1 AS OF MARCH 31, ���� ���1 vs. ���� 3/31/211/1/21- 3/31/201/1/20- %CHANGE2021/2020 4/1/20-3/31/21 3/31/204/1/19- %CHANGE ROWAYTON SUPPLY/DEMAND ANALYSIS Source: DMLS, Rowayton, Single Family Homes, Sold *Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand PRICE RANGE $0$5,000,000$3,000,000$2,500,000$2,000,000$1,500,000$1,000,000$700,000$500,000$499,999-$699,999-$999,999-$1,499,999-$1,999,999-$2,499,999-$2,999,999-$4,999,999andup 004522131 LISTINGSSUPPLY:ACTIVE 000133223 DEMAND:PENDINGSALES Not 2Valid1 Not 022Valid1 Not Valid DEMANDSUPPLY/RATIO* Market Totals 18 14 1 121211416130 LISTINGSSUPPLY:ACTIVE 000001131 DEMAND:PENDINGSALES 41 Not NotNotNotNot124ValidValidValidValidValid DEMANDSUPPLY/RATIO* 50 6 8 CHANGE%LISTINGSIN CHANGE% PENDINGSIN -100.00%-50.00%0.00%-72.70%-83.33%-58.33%-33.33%0.00%0.00% NotNotNotNot-100.00%0.00%Valid100.00%200.00%ValidValidValid0.00% -64.00% 133.33% SOLD PROPERTIES Market Totals 18 16 12.50% PRICE RANGE $0$5,000,000$3,000,000$2,500,000$2,000,000$1,500,000$1,000,000$700,000$500,000$499,999-$699,999-$999,999-$1,499,999-$1,999,999-$2,499,999-$2,999,999-$4,999,999andup 002345211 000445111 NotNotNot-100.00%-60.00%-25.00%0.00%400.00%Valid0.00%ValidValid 2493352112241 2416419192230 Not500.00%-25.00%-43.80%26.33%45.80%10.50%0.00%33.33%Valid YEAR-TO-DATE 111 89 24.70% YEAR-OVER-YEAR
HOULIHANLAWRENCE.COM 2021Q1 2020Q1 CHANGE% full year 2020 full year 2019 CHANGE% NEW CANAAN QUARTERLY MARKET OVERVIEW NEWYORK NEW CANAANDARIEN ROWAYTON STAMFORD NORWALKWILTON TEN-YEAR MARKET HISTORY to%OnDaysPerAverageSaleAveragePricePriceSquareFootMarketSalePriceListPrice to%OnDaysPerAverageSaleAveragePricePriceSquareFootMarketSalePriceListPrice$1,613,791$39513294.24% $1,661,172$38912395.55% $1,929,472$39012295.81% $1,783,190$40712696.14% $1,770,026$35614894.63% $1,713,202$35514794.72% $1,628,161$34213893.80% Homes Sold F ull Year Homes Sold Year -to-dat e PRICSALESMEDIANE SOLDHOMESOFNUMBER 0 $1,200$900,$600,$300,000000000,000$1,500,000$1,800,000 7060504003020010000000 2014 2015 2016 2017 2018 2019 2020 2021ytd20132012 209 277 250 251 194 255 217 248 390 new canaan 20 560 $1,322,500 $1,425,000 $1,662,500 $1,517,500 $1,447,500 $1,475,000 $1,341,500 $1,238,750 $1,399,500 $1,575,000 28 36 35 34 46 35 42 44 83 $1,424,860$31716493.42% $1,670,517$33713796.07% $1,810,393$36812197.38% HOMES MEDIANSOLDSALE PRICE AVERAGE SALE PRICE AVERAGE PRICE/ SQUARE FOOT DAYS ON MARKET % SALE PRICE TO LIST PRICE $1,575,00083$1,810,393$36812197.38% $1,524,392$1,175,50044$29616194.27% -24.84%88.64%33.99%18.76%24.03%3.29% $1,399,500390$1,670,517$33713796.07% $1,424,860$1,238,750248$31716493.42% -16.46%12.98%57.26%17.24%6.47%2.83%
HOULIHANLAWRENCE.COM AS OF MARCH 31, ���1 AS OF MARCH 31, ���� ���1 vs. ���� 3/31/211/1/21- 3/31/201/1/20- %CHANGE2021/2020 4/1/20-3/31/21 3/31/204/1/19- %CHANGE NEW CANAAN Source: NCMLS, New Canaan, Single Family Homes, Sold SUPPLY/DEMAND ANALYSIS *Supply Demand Ratio Key 1-4: High Demand 5-6: Balanced 7-9: Low Demand 10+: Very Low Demand PRICE RANGE $0$5,000,000$3,000,000$2,500,000$2,000,000$1,500,000$1,000,000$700,000$500,000$499,999-$699,999-$999,999-$1,499,999-$1,999,999-$2,499,999-$2,999,999-$4,999,999andup 300252215152710 LISTINGSSUPPLY:ACTIVE 20004161410131 DEMAND:PENDINGSALES Not Valid Not102221Valid11 DEMANDSUPPLY/RATIO* Market Totals 126 78 2 402707512722318 LISTINGSSUPPLY:ACTIVE 1300753421 DEMAND:PENDINGSALES Not Valid Not16644Valid898 DEMANDSUPPLY/RATIO* 213 35 6 CHANGE%LISTINGSIN CHANGE% PENDINGSIN -45.00%-41.20%-81.50%-71.40%0.00%-44.40%-31.80%-12.90%25.00% 550.00%220.00%-42.90%0.00%0.00%53.80%366.67%150.00%0.00% -40.80% 122.90% SOLD PROPERTIES Market Totals 83 44 88.60% PRICE RANGE $0$5,000,000$3,000,000$2,500,000$2,000,000$1,500,000$1,000,000$700,000$500,000$499,999-$699,999-$999,999-$1,499,999-$1,999,999-$2,499,999-$2,999,999-$4,999,999andup 20150315136110 1306973150 Not Not500.00%-50.00%Valid66.67%53.80%114.33%333.33%120.00%Valid 14567150864727392 6418272471714150 Not-100.00%-16.70%4.70%101.40%83.00%176.50%92.90%160.00%Valid YEAR-TO-DATE 428 249 71.90% YEAR-OVER-YEAR
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