Year End | 2019
Greenwich
Market Update
Cover Property GREENWICH
Offered at $14,900,000 45FIELDPOINTCIRCLE.COM
a message from
Pamela Pagnani Brokerage Manager
According to data from the Greenwich Multiple Listing Service, 527 single-family homes (SFH) sold townwide, for a total sale volume exceeding $1.25 billion. Townwide, there were 432 SFH listed at the end of 2019; 32% were listed under $2M, 36% listed in the $2M - $4M range, 20% listed in the $4M - $7.5M range and 12% listed for over $7.5M. Greenwich Proper had the most active SFH inventory with 312 homes for sales followed by Cos Cob with 43 and Riverside with 42. In 2019, the townwide SFH average sales price was $2.38M. Other points of note about the 2019 Greenwich real estate market include: •
In 2019 vs. 2018, Old Greenwich experienced an increase in all vital indicators for SFH; including an average sales price that was up 7%, an increase in total units sold by 15% and a 23% increase in total sales volume.
•
Townwide, the number of SFH pending listings increased 28%, from 32 listings in 2018 to 41 listings in 2019.
•
The average sales price for SFH in Greenwich Proper increased 3%, from $2.67M in 2018 to $2.74M in 2019.
•
While the average sales price for townwide condominiums increased 1% in 2019, total units sold decreased 28% and total sales volume decreased 27% year over year.
The current condition of the Greenwich real estate market offers an unprecedented opportunity to realize homeownership in town. Sotheby’s International Realty – Greenwich Brokerage is uniquely positioned to service the needs of discriminating buyers, sellers, and renters. While Sotheby’s International Realty has offices around the world in 71 countries and territories, here in Greenwich, we serve all areas of town including Cos Cob, Riverside, Old Greenwich and Greenwich Proper, in addition to the surrounding towns. Sotheby’s International Realty – Greenwich has approximately 100 affiliated agents who are seasoned experts in local real estate regulations, zoning, building and rental codes. We believe we have the best agents in town. Our mission is simple: to pair exceptional properties with exceptional clients while offering superior, white glove service. We are pleased to assist you in buying your dream house or selling your home in Greenwich. 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 (12/31/2019). 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.
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Market Snapshot 2019 Year End
Townwide
Cos Cob
Total Single Family Homes Units Sold Old Greenwich Greenwich
55% 16% 19% 10%
Riverside
Greenwich Riverside Old Greenwich Cos Cob
Greenwich
Riverside Median Active
Median Pending
$2,795,000
Old Greenwich Median Sales Price
$1,077,500
$950,000
$1,395,000
$2,100,000
$1,712,500
$2,345,000
$2,847,500
$2,372,500
$2,035,000
$2,750,000
$3,492,500
Single Family Homes Median List Price vs. Pending Price vs. Sold Price
Cos Cob
2019 Year End Highlights Units
Townwide
350
300
Less than $2M 250
200
Greater than $7.5M $2M - $4M 150
100
$4M - $7.5M
50
Old Greenwich
Greenwich
Riverside
Active Single Family Homes Inventory by Price Point & Area 32% 36 % 20% 12%
Less than $2 Million $2 -$4 Million $4 - $7.5 Million Greater than $7.5 Million
Cos Cob
Active Single Family Homes Total List Volume by Price Point 10% 27 % 26% 37%
Less than $2 Million $2 - $4 Million $4 - $7.5 Million Greater than $7.5 Million
2019 Year End
/ Greenwich Market Update
at a glance {Year End | 2019}
townwide
527 -12 Units Sold
%
On scenic Long Island Sound, just 30 miles from midtown Manhattan, Greenwich, Connecticut is a vibrant cosmopolitan community considered among the most desirable in the nation.
Change in Units Sold {2019 v 2018]
2.4m 0
$
Average Selling Price
%
Change in Average Selling Price {2019 v 2018]
Offered at $4,995,000 11DEERLANE.COM
Average Selling Price
Millions
Average Selling Price | Median Selling Price $ 3,000,000 $ 2,500,0 00 $ 2,000,000
$ 1,000,000 $ 500,000
2019: Q4
2019: Q3
2019: Q2
2019: Q1
2018: Q4
2018: Q3
2018: Q2
2018: Q1
2017: Q4
2017: Q3
2017: Q2
2017: Q1
2016: Q4
2016: Q3
2016: Q2
2016: Q1
2015: Q4
2015: Q3
2015: Q2
2015: Q1
-
Median Selling Price
$ 1,500,0 00
Number of Closed Sales
152
183
184
176 102
118
135
138
98
74
90
100
117
122
150
128
146
164
172
183
200
191
207
250
50
single family homes {2019 v 2018}
Change
Total Sales Volume
-12%
Average Discount Selling Price Rati0
0%
* Total Active Units Sold Inventory
2019: Q4
2019: Q3
2019: Q2
2019: Q1
2018: Q4
2018: Q3
2018: Q2
2018: Q1
2017: Q4
2017: Q3
2017: Q2
2017: Q1
2016: Q4
2016: Q3
2016: Q2
2016: Q1
2015: Q4
2015: Q3
2015: Q2
2015: Q1
-
Pending Listings *
-3%
-12%
-40%
28%
2019
$1,253,357,255
$2,378,287
88%
527
432
41
2018
$1,423,729,716
$2,384,807
91%
597
718
32
2017
$1,476,346,556
$2,563,102
90%
576
638
37
2016
$1,269,919,386
$2,197,092
91%
578
697
45
2015
$1,457,163,190
$2,420,537
92%
602
588
34
* on last day of quarter
Townwide Single Family Homes
/ Greenwich Market Update
at a glance {Year End | 2019}
greenwich proper
Greenwich Proper includes the
288 -10
following sections of town: North
Change in Units Sold
Units Sold
%
of the Parkway, South of the Parkway, South of the Post Road, Byram, Banksville, Glenville and Pemberwick.
{2019 v 2018]
2.7m 3 $
Average Selling Price
%
Change in Average Selling Price {2019 v 2018]
Offered at $7,900,000 16ANDREWSFARMROAD.COM
Average Selling Price
Millions
Average Selling Price | Median Selling Price
$4.00 $3.50 $3.00 $2.50
$1.50 $1.00
2019: Q4
2019: Q3
2019: Q2
2019: Q1
2018: Q3
2018: Q2
2018: Q1
2017: Q4
2017: Q3
2017: Q2
2017: Q1
2016: Q4
2016: Q3
2016: Q2
2016: Q1
2015: Q4
2015: Q3
2015: Q2
2015: Q1
$-
2018: Q4
$0.50
Median Selling Price
$2.00
Number of Closed Sales 99 89
86
86 2017: Q3
80
88
61
63 39
52
60
54
60
70
80
72
77
87
100
2017: Q2
95
99
99
111
120
40
20
single family homes {2019 v 2018}
Change
Total Sales Volume
-8%
Average Discount Selling Price Rati0
3%
* Total Active Units Sold Inventory
2019: Q4
2019: Q3
2019: Q2
2019: Q1
2018: Q4
2018: Q3
2018: Q2
2018: Q1
2017: Q4
2017: Q1
2016: Q4
2016: Q3
2016: Q2
2016: Q1
2015: Q4
2015: Q3
2015: Q2
2015: Q1
-
Pending Listings *
-4%
-10%
-36%
19%
2019
$789,646,333
$2,741,828
86%
288
312
19
2018
$854,274,072
$2,669,606
90%
320
487
16
2017
$960,165,894
$2,900,803
89%
331
433
21
2016
$772,506,490
$2,508,138
89%
308
473
26
2015
$901,871,420
$2,818,348
90%
320
397
21
* on last day of quarter
Greenwich Proper
/ Greenwich Market Update
at a glance
{ Year End | 2019}
cos cob
54 -36 Units Sold
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. Extensive marinas are located on the upper Mianus Harbor.
%
Change in Units Sold { 2019 v 2018]
1.2m -20 $
Average Selling Price
%
Change in Average Selling Price {2019 v 2018]
Offered at $2,695,000 66CATROCK.COM
Average Selling Price
Millions
Average Selling Price | Median Selling Price
$2.00 $1.80 $1.60 $1.40 $1.20
Median Selling Price
$1.00 $0.80 $0.60 $0.40 $0.20
2019: Q4
2019: Q3
2019: Q2
2019: Q1
2018: Q4
2018: Q3
2018: Q2
2018: Q1
2017: Q4
2017: Q3
2017: Q2
2017: Q1
2016: Q4
2016: Q3
2016: Q2
2016: Q1
2015: Q4
2015: Q3
2015: Q2
2015: Q1
$-
Number of Closed Sales 29
24
30
29
29
35
19
19
19
15
6
9
10
9
11
13
15
14
15
16
17
20
17
19
22
25
5
single family homes {2019 v 2018}
Change
Total Sales Volume
-49%
Average Discount Selling Price Rati0
-20%
* Total Active Units Sold Inventory
2019: Q4
2019: Q3
2019: Q2
2019: Q1
2018: Q4
2018: Q3
2018: Q2
2018: Q1
2017: Q4
2017: Q3
2017: Q2
2017: Q1
2016: Q4
2016: Q3
2016: Q2
2016: Q1
2015: Q4
2015: Q3
2015: Q2
2015: Q1
-
Pending Listings *
-2%
-36%
- 32%
0%
2019
$66,991,800
$1,240,589
90%
54
43
3
2018
$130,905,394
$1,558,398
92%
84
63
3
2017
$89,982,375
$1,323,270
90%
68
46
4
2016
$104,368,225
$1,321,117
93%
79
70
5
2015
$90,109,420
$1,365,294
94%
66
55
4
* on last day of quarter
Cos Cob
/ Greenwich Market Update
at a glance {Year End | 2019}
riverside
86 Units Sold
Riverside’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 – less than one hour to Grand Central Station in New York City.
-20
%
Change in Units Sold {2019 v 2018]
1.9m -17
$
Average Selling Price
%
Change in Average Selling Price {2019 v 2018]
Offered at $9,250,000 CEDARCLIFFROAD.COM
Average Selling Price | Median Selling Price
$3.50
Average Selling Price
Millions
$4.00
$3.00 $2.50 $2.00
$1.00 $0.50
2019: Q4
2019: Q3
2019: Q2
2019: Q1
Number of Closed Sales 44
50
39
45
30 28
30
32
31
35
33
35
37
40
24
30
16
18
14
13
14
16
20
19
20
25
15
2018: Q4
2018: Q3
2018: Q2
2018: Q1
2017: Q4
2017: Q3
2017: Q2
2017: Q1
2016: Q4
2016: Q3
2016: Q2
2016: Q1
2015: Q4
2015: Q3
2015: Q2
2015: Q1
$-
Median Selling Price
$1.50
7
10 5
single family homes
Total Sales Volume
Change
-34%
2019
$167,284,962
2018
Average Discount Selling Price Ratio
2019: Q4
2019: Q3
2019: Q2
2019: Q1
2018: Q4
2018: Q3
2018: Q2
* Total Active Units Sold Inventory
Pending Listings *
-2%
-20%
$1,945,174
90%
86
42
4
$251,834,350
$2,353,592
92%
107
96
2
2017
$237,143,593
$2,371,436
93%
100
82
5
2016
$197,310,338
$2,121,617
92%
93
80
8
2015
$259,442,482
$2,275,811
93%
114
65
5
{2019 v 2018}
* on last day of quarter
-17%
2018: Q1
2017: Q4
2017: Q3
2017: Q2
2017: Q1
2016: Q4
2016: Q3
2016: Q2
2016: Q1
2015: Q4
2015: Q3
2015: Q2
2015: Q1
-
- 56% 100%
Riverside
/ Greenwich Market Update
at a glance {Year End | 2019}
old greenwich
99 Units Sold
today preserves the charm
15
of a gracious New England
Change in Units Sold
The town’s origins are traced to the historic village of Old Greenwich, which
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.
%
{2019 v 2018]
2.3m 7 $
Average Selling Price
%
Change in Average Selling Price {2019 v 2018]
Offered at $4,900,000 10SOUTHCROSSWAY.COM
Average Selling Price
Millions
Average Selling Price | Median Selling Price
$3.50 $3.00 $2.50 $2.00
Median Selling Price
$1.50 $1.00 $0.50
2019: Q4
2019: Q3
2019: Q2
2019: Q1
2018: Q4
2018: Q3
2018: Q2
2018: Q1
2017: Q4
2017: Q3
2017: Q2
2017: Q1
2016: Q4
2016: Q3
2016: Q2
2016: Q1
2015: Q4
2015: Q3
2015: Q2
2015: Q1
$-
Number of Closed Sales 40
45
35
40
22 19
20
9
10
14
14
15
20 15
22
24
23 20
25
23
23
25
26
30
26
30
32
35
5
single family homes {2019 v 2018}
Change
Total Sales Volume
23%
Average Discount Selling Price Ratio
* Total Active Units Sold Inventory
2019: Q4
2019: Q3
2019: Q2
2019: Q1
2018: Q4
2018: Q3
2018: Q2
2018: Q1
2017: Q4
2017: Q3
2017: Q2
2017: Q1
2016: Q4
2016: Q3
2016: Q2
2016: Q1
2015: Q4
2015: Q3
2015: Q2
2015: Q1
-
Pending Listings *
7%
-1%
15%
-51%
-55%
2019
$229,434,160
$2,317,517
90%
99
35
5
2018
$186,715,900
$2,171,115
91%
86
72
11
2017
$189,054,694
$2,455,256
91%
77
77
7
2016
$195,734,333
$1,997,289
93%
98
74
6
2015
$205,739,868
$2,017,058
94%
102
71
4
* on last day of quarter
Old Greenwich
/ Greenwich Market Update
at a glance {Year End | 2019}
townwide condos & co-ops Condominiums and co-ops are attractive and desirable housing alternatives in the Town of Greenwich. Whereas condominiums are individually owned, co-op owners purchase shares in the co-op complex. Condominiums in each area can be apartment style, townhouse or free-standing houses. Co-ops are typically well-established and centrally located to all that Greenwich Proper has to offer.
108 Units Sold
-28
%
Change in Units Sold {2019 v 2018]
1 1
$ m Average Selling Price
%
Change in Average Selling Price {2019 v 2018]
Offered at $590,000 25WESTELMSTREET.COM
Average Selling Price
$1.40 $1.20 $1.00 $0.80
Median Selling Price
$0.60 $0.40 $0.20
2019: Q3
28 2019: Q3
2019: Q4
2019: Q2
29 2019: Q2
2019: Q1
2018: Q4
2018: Q3
2018: Q2
2018: Q1
2017: Q4
2017: Q3
2017: Q2
2017: Q1
2016: Q4
2016: Q3
2016: Q2
2016: Q1
2015: Q4
2015: Q3
2015: Q2
2015: Q1
$-
Number of Closed Sales 53
60
44
23
26
25
29
37
41 29
32
35 2016: Q2
2016: Q4
34 2016: Q1
28
30
33
42 2015: Q4
40
2016: Q3
43 2015: Q3
45
46
50
20
10
CONDOS & CO-OPS
Total Average Sales Volume Selling Price
Change
-27%
2019
$111,639,500
2018
2019: Q4
2019: Q1
2018: Q4
2018: Q3
2018: Q2
2018: Q1
Discount Ratio
Total Units Sold
0%
-28%
$1,033,699
92%
108
$152,842,663
$1,025,790
92%
149
2017
$152,011,685
$1,000,077
94%
152
2016
$133,015,579
$992,654
93%
134
2015
$171,487,707
$1,078,539
94%
159
{ 2019 v 2018}
1%
2017: Q4
2017: Q3
2017: Q2
2017: Q1
2015: Q2
-
2015: Q1
Millions
Average Selling Price | Median Selling Price
$1.60
Townwide Condos & Co-Ops
/ Greenwich Market Update
Extraordinary Results We celebrate the notable success of our associates and clients
GREENWICH
124 Old Mill Road Sold $13,250,000
GREENWICH
22 Hurlingham Drive Sold $8,625,000 GREENWICH
138 Pecksland Road Sold $4,450,000 GREENWICH
17 Cameron Drive Sold $3,100,000 GREENWICH
7 Nawthorne Road Sold $2,812,500 *in order from left to right, top to bottom
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