Year End | 2018
Greenwich
Market Update
GREENWICH
Offered at $8,975,000 781lakeavenue.com
GREENWICH
Offered at $5,495,000 138peckslandroad.com
a message from
Pamela Pagnani Brokerage Manager
I hope you enjoy exploring our year-end report and I invite you to discover more information online at sothebyshomes.com/greenwich. In 2018, according to data provided by the Greenwich Multiple Listing Service, 593 single-family homes sold town wide, with total sales volume exceeding $1.4B. This reflects an increase of 4.6% in the number of single-family homes sold and a decrease of 3% in dollar volume when compared to 2017. Over the course of the year, average sales price for single-family homes fell 7.25% to $2.4M, while the average median sales price fell 2% to $1.7M. Town-wide, there were 718 single-family homes listed in 2018, with 233 listed under $2M, 258 listed in the $2M to $4M range, 158 listed in the $4M to $7.5M range, and 69 priced over $7.5M. Greater Greenwich had the most active inventory, with 487 units, followed by Riverside with 96 units, Old Greenwich with 72 units and Cos Cob with 63 units. Greater Greenwich, including north of the parkway, mid-country, as well as south of the parkway and south of the Post Road, represented 53% of the total single-family homes sold town wide. This area of town experienced a decrease of 2.2% in the number of units sold, from 323 in 2017 to 316 in 2018, with an average selling price of $2.7M. Cos Cob witnessed the largest increase in dollar volume of single-family homes sold, with $89.2M sold in 2017 compared to $130.9M sold in 2018, an increase of 46.7%. The average sales price in Cos Cob was $1.6M, an increase of 17% over Q4 2017. Riverside experienced an increase in the number of single-family homes which sold, from 100 to 106, with the average sales price remaining very similar to that of 2017, at $2.4M. There was an increase in total dollar volume of 5.9%, year over year. Old Greenwich experienced a 13% increase in the number of single-family homes which sold from 77 in 2017 to 87 in 2018. This year, average sales price fell 12% from 2017. All single-family home trades in this section of town were under $7.5M in 2018. No matter the state of the market, Sotheby’s International Realty - Greenwich Brokerage - is uniquely positioned to service the needs of discriminating buyers, sellers and renters. Our mission is simple: to pair exceptional properties with exceptional clients while offering superior, white glove service. Our expertise on the local level, paired with the brand’s vast global digital footprint and impressive referral network, ensures that the homes we represent receive the farreaching exposure they deserve. If Sotheby’s International Realty can be of service to you with the sale or purchase of property in Greenwich or anywhere else, please call me at 203.618.3111, so I may personally introduce you to a local expert. sothebyshomes.com/greenwich
GREENWICH BROKERAGE
One Pickwick Plaza | Greenwich, CT 06830 | 203.869.4343 All figures in this document are as reported by the Greenwich MLS (12/31/2018). Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc. Equal housing opportunity.
GREENWICH
Offered at $9,750,000 32vineyardlane.com
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GREENWICH
Offered at $10,200,000 22hurlinghamdr.com GREENWICH
Offered at $4,950,000 33woodsidedr.com GREENWICH
Offered at $4,450,000 8hedgerowlane.com RIVERSIDE
Offered at $3,875,000 4highgaterd.com *in order from left to right, top to bottom
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Market Snapshot 2018 Year End
All Greenwich
600
Old Greenwich
500
400
Riverside Greenwich
300
200
Cos Cob
100
Total Single Family Homes Units Sold 316 84 106 87
Greenwich Cos Cob Riverside Old Greenwich
Old Greenwich
Riverside
Greenwich
Cos Cob
0
Active Single Family Homes Inventory by Price Point & Area 233 258 158 69
Under $2 Million $2 - 4 Million $4 - 7.5 Million $7.5+ Million
Year End Highlights All Greenwich
$2.5
$2.0
$7.5M and up <$2M
$1.5
$4 - $7.5M
$1.0
$0.5
$2 - $4M
Single Family Homes Median Selling Price 2.0 $ 1.4 $ 1.9 $ 1.9
$
Greenwich Cos Cob Riverside Old Greenwich *Price in Millions
Old Greenwich
Riverside
Cos Cob
*Price in Millions
Greenwich
$0.0
Single Family Homes Total Volume by Price Point 29 % 35 % 24 % 13 %
2018 Year End Highlights
Under $2 Million $2 - 4 Million $4 - 7.5 Million $7.5+ Million
/ Greenwich 2018 Year End Market Update
at a glance {Year End | 2018}
greenwich
-8
%
Change in Average Selling Price {2018 v 2017}
-2
%
Change in Units Sold {2018 v 2017}
316 Units Sold
2.7m
$
Average Selling Price
Greenwich SINGLE FAMILY HOMES AND CONDOS
Average Median Discount Total Active Selling Price Selling Price Ratio Units Sold Inventory
sfh {2018 v 2017}
Change
-8%
-1%
0%
-2%
12%
2018
$2,692,035
$1,950,000
86%
316
487
2017
$2,940,170
$1,970,000
84%
323
433
2016
$2,522,167
$1,900,000
86%
302
473
2015
$2,826,058
$2,093,000
88%
318
397
2014
$3,204,172
$2,105,000
84%
340
420
Median Selling Price | Single Family Homes vs Condos $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0
2014
condos
2015
2016
Single Family Homes
Condos
2017
2018
Average Median Discount Total Active Selling Price Selling Price Ratio Units Sold Inventory
{2018 v 2017}
Change
-5%
2%
0%
3%
38%
2018
$1,081,382
$820,000
91%
126
146
2017
$1,133,194
$ 807,500
90%
122
106
2016
$1,062,868
$775,000
93%
109
116
2015
$1,078,539
$816,500
93%
159
88
2014
$1,034,012
$815,000
91%
113
91
Greenwich
/ Greenwich 2018 Year End Market Update
Average Selling Price | Total Units Sold $1.8
90
$1.6
80
$1.4
70
$1.2
60
$1.0
50
$0.8
40
$0.6
30
$0.4
20
$0.2
10
$0.0
0
2014
2015
2016
2017
Average Selling Price
2018
Total Units Sold
Year End | 2018
Under $2 Million
$2 - 4 Million
About
Cos Cob Situated just east of Central Greenwich, Cos Cob provides a peaceful village-like setting in a close-knit community. Cos Cob residential areas border the scenic Mianus River and extensive marinas are located on the upper Mianus Harbor. sothebyshomes.com/greenwich
Average Median Discount Total Active Selling Price Selling Price Ratio Units Sold Inventory {2018 v 2017}
Change
17%
20%
0%
25%
37%
2018
$1,558,398
$1,397,500
90%
84
63
2017
$1,331,752
$1,161,000
89%
67
46
2016
$1,321,117
$1,175,000
92%
79
70
2015
$1,365,294
$1,250,000
96%
66
55
2014
$1,254,599
$1,178,000
92%
67
39
Greenwich 2018 Year End Market Update / Cos Cob
at a glance {Year End | 2018}
cos cob
17
%
Change in Average Selling Price {2018 v 2017}
25
%
Change in Units Sold {2018 v 2017}
84 Units Sold
1.6m
$
Average Selling Price
at a glance {Year End | 2018}
riverside
0
%
Change in Average Selling Price {2018 v 2017}
6
%
Change in Units Sold {2018 v 2017}
106 Units Sold
2.4m
$
Average Selling Price
Average Selling Price | Total Units Sold $3.0
120
$2.5
100
$2.0
80
$1.5
60
$1.0
40
$0.5
20
$0.0
0
2014
2015
2016
Average Selling Price Year End | 2018
2017
2018
Total Units Sold Under $2 Million
$2 - 4 Million
$4 - 7.5 Million
$7.5+ Million
About
Riverside Riversideâ&#x20AC;&#x2122;s extensive shoreline on the river, harbor, and Long Island Sound contributes to its appeal as a desirable waterfront community with a unique and popular variety of properties for sale at any given time. Closely linked to its neighboring village of Old Greenwich, Riverside also has a Metro North commuter station â&#x20AC;&#x201C; less than one hour to Grand Central Station in New York City. sothebyshomes.com/greenwich
Average Median Discount Total Active Selling Price Selling Price Ratio Units Sold Inventory {2018 v 2017}
Change
0%
3%
0%
6%
17%
2018
$2,368,296
$1,852,500
90%
106
96
2017
$2,371,436
$1,797,000
89%
100
82
2016
$2,121,617
$1,690,000
87%
93
80
2015
$2,275,811
$1,903,500
91%
114
65
2014
$2,000,920
$1,862,500
93%
96
50
Riverside
/ Greenwich 2018 Year End Market Update
Average Selling Price | Total Units Sold $3.0
120
$2.5
100
$2.0
80
$1.5
60
$1.0
40
$0.5
20
$0.0
0
2014
2015
2016
2017
Average Selling Price
2018
Total Units Sold
Year End | 2018
Under $2 Million
$2 - 4 Million
$4 - 7.5 Million
About
Old Greenwich The townâ&#x20AC;&#x2122;s origins are traced to the historic village of Old Greenwich, which today preserves the charm of a gracious New England community with classic Colonial Old Greenwich homes and beautiful waterfront properties. Old Greenwich offers an intimate shopping district and lies a short distance from scenic Greenwich Point with its fine town beach, park, and boating facilities. sothebyshomes.com/greenwich
Average Median Discount Total Active Selling Price Selling Price Ratio Units Sold Inventory {2018 v 2017}
Change
-12%
-5%
0%
13%
6%
2018
$2,166,275
$1,850,000
90%
87
72
2017
$2,455,256
$1,950,000
89%
77
77
2016
$1,997,289
$1,662,500
93%
98
74
2015
$2,027,969
$1,700,000
93%
101
71
2014
$2,573,710
$2,127,500
91%
104
68
Greenwich 2018 Year End Market Update / Old Greenwich
at a glance {Year End | 2018}
old greenwich
-12
%
Change in Average Selling Price {2018 v 2017}
13
%
Change in Units Sold {2018 v 2017}
87 Units Sold
2.2m
$
Average Selling Price
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GREENWICH
110 Clapboard Ridge Road Last asking $24,995,000 110crr.com
OLD GREENWICH
15 North Crossway Last asking $6,995,000 GREENWICH
42 Mooreland Road Last asking $5,999,000 RIVERSIDE
9 Shaw Place Last asking $4,999,000 RIVERSIDE
20 Marks Road Last asking $4,195,000 *in order from left to right, top to bottom
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