Q3 | 2018
Greenwich
Market Update
GREENWICH DOWNTOWN SANCTUARY Offered at $33,000,000 471Lake.com sothebyshomes.com/greenwich Offered at $13,995,000
GREENWICH
Offered at $11,495,000 5OldRoundHill.com
a message from
Pamela Pagnani Brokerage Manager
During the third quarter of 2018, according to data provided by the Greenwich Multiple Listing Service, there were 183 single-family homes sold town wide, with total volume exceeding $416M. This reflects an increase of 26% in the number of single-family homes sold and an increase of 7.5% in dollar volume when compared to Q3 2017. Conversely, the average sales price for both single-family homes and condominiums/cooperatives fell in Q3 2018 when compared to Q3 2017. Town-wide, there were 642 single-family homes at the end of the third quarter – with 204 listed under $2M, 235 listed over $2M to $4M, 136 listed between $4M to $7.5M, and 67 priced over $7.5M. Greater Greenwich had the most active inventory, with 425 units, followed by Riverside with 94 units, Old Greenwich with 69 units and Cos Cob with 54 units. Greater Greenwich, including north of the parkway, mid-country as well as south of the Post Road, represented 60% of the total single-family homes sold town wide. This shows an increase of 28% in the number of units sold, from 85 in Q3 2017 to 109 in Q3 2018, with an average selling price of $2.4M. Cos Cob had an increase of 49% in dollar volume of single-family homes sold, with $19.4M sold in Q3, 2017 compared to $28.9M in Q3 2018. In this section of town, all single-family homes sales during both Q3 2018 and Q3 2017 were under $4M. The average sales price in Cos Cob was $1.5M, an increase of 2% from Q3 2017. Riverside experienced an increase in the number of single-family homes sold, from 24 to 30, with the average sales price increasing by 15%, from $2.1M to $2.4M when comparing Q3 2017 to Q3 2018. Old Greenwich experienced a 9% increase in the number of single-family homes sold from 25 in 2017 to 23 in 2018. The average sales price fell 36% from Q3 2017. All single-family home trades were under $7.5M during the third quarter of 2017, as well as the same time period of 2018. No matter the state of the market, Sotheby’s International Realty – Greenwich Brokerage is uniquely well positioned to service the needs of discriminating buyers, sellers and renters. While Sotheby’s International Realty has offices around the world in 72 countries and territories, here in Greenwich, we serve all areas of town including Cos Cob, Riverside, Old Greenwich and Greater Greenwich. Sotheby’s International Realty – Greenwich has approximately 80 affiliated agents who are seasoned experts in local real estate laws, zoning, building and rental codes. Our mission is simple: to pair exceptional properties with exceptional clients while offering superior, white glove service. We would be 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 (9/30/2018). 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.
RIDGEFIELD
Offered at $33,000,000 11OldStagecoachRoad.com
Featured Properties We invite you to explore our exclusive offerings at S OT H EBYS H O M E S.C O M /GR EEN WI CH
GREENWICH
Offered at $9,395,000 781lakeavenue.com GREENWICH
Offered at $8,795,000 35moorelandroad.com GREENWICH
Offered at $4,400,000 75buckfieldlane.com RIVERSIDE
Offered at $4,399,000 9shawplace.com *in order from left to right, top to bottom
sothebyshomes.com/greenwich
Market Snapshot Q3 2018
All Greenwich
Highlight: Total Units Sold SFH
SFH Active Inventory
450
400
350
Old Greenwich 300
250
Greenwich Cos Cob
Riverside
200
Riverside Old Greenwich
Greenwich Cos Cob
150
100
50
Total Single Family Homes Units Sold 109 19 30 25
Greenwich Cos Cob Riverside Old Greenwich
Old Greenwich
Riverside
Cos Cob
Greenwich
0
Active Single Family Homes Inventory by Price Point & Area 204 235 136 67
Under $2 Million $2 - 4 Million $4 - 7.5 Million $7.5+ Million
Q3 Highlights All Greenwich
Highlight: Median Sale Price SFH
Highlight: Vol by Price Points SFH
$2.5
$7.5M and up
$2.0
<$2M
$1.5
$4 - $7.5M
$1.0
$0.5
$2 - $4M
Single Family Homes Median Selling Price 1.9 $ 1.5 $ 2.3 $ 1.7 $
Greenwich Cos Cob Riverside Old Greenwich *Price in Millions
Old Greenwich
Riverside
Cos Cob
Greenwich
$0.0
*Price in Millions
<$2M
$2 - $4M
$4 - $7.5 M
$7.5 M and up
Single Family Homes Total Volume by Price Point 32 % 39 % 23 % 7%
Under $2 Million $2 - 4 Million $4 - 7.5 Million $7.5+ Million
Q3 Highlights
/ Greenwich Market Update
at a glance {Q3 | 2018}
greenwich
-16
%
Change in Average Selling Price {2018 v 2017}
28
%
Change in Units Sold {2018 v 2017}
109 Units Sold
2.4m
$
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
-16%
-7%
1%
28%
-2%
2018
$2,429,525
$1,892,500
90%
109
425
2017
$2,885,982
$2,025,000
89%
85
433
2016
$2,522,958
$2,200,000
86%
95
473
2015
$3,113,711
$2,295,000
88%
98
397
2014
$2,670,948
$1,837,500
90%
92
420
Greenwich - SFH vs Condos Median
Median Selling Price | Single Family Homes vs Condos
$2,500,000
GRW Co
$2,000,000
GRW SF
$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
-18%
-9%
2%
-30%
13%
2018
746,443
645,000
90%
37
120
2017
912,273
710,230
88%
53
106
2016
983,735
699,000
92%
33
116
2015
963,958
750,000
94%
43
88
2014
1,056,328
820,000
91%
43
91 Greenwich
/ Greenwich Market Update
SFH Area Graphs: ASP vs Total Units
Average Selling Price | Total Units Sold 35
$1.8 $1.6
30
$1.4 25
$1.2 $1.0
20
$0.8
15
$0.6
10
$0.4 5
$0.2 $0.0
0
2014
2015
Average Selling Price <$2M
Q3 | 2018
$2M-$4M
2016
$4M-$7.5 M
2017
$7.5 and up
2018
Total Units Sold ASP
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
2%
34%
3%
46%
17%
2018
$1,525,016
$1,476,000
93%
19
54
2017
$1,493,260
$1,105,375
90%
13
46
2016
$1,195,973
$1,050,000
87%
29
70
2015
$1,434,584
$1,150,000
95%
17
55
2014
$1,313,841
$1,178,000
93%
29
39
Greenwich Market Update / Cos Cob
at a glance {Q3 | 2018}
cos cob
2
%
Change in Average Selling Price {2018 v 2017}
46
%
Change in Units Sold {2018 v 2017}
19 Units Sold
1.5m
$
Average Selling Price
at a glance {Q3 | 2018}
riverside
15
%
Change in Average Selling Price {2018 v 2017}
25
%
Change in Units Sold {2018 v 2017}
30 Units Sold
2.4m
$
Average Selling Price
SFH Area Graphs: ASP vs Total Units
Average Selling Price | Total Units Sold 40
$3.0
35
$2.5
30 $2.0
25 20
$1.5
15
$1.0
10 $0.5
5
$0.0
0
2014
2015
Average Selling Price <$2M Q3 | 2018 $2M-$4M
2016
$4M-$7.5 M Under $2 Million
2017
2018
Total Units Sold
and up $2$7.5 - 4 Million
$4ASP - 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
15%
44%
6%
25%
15%
2018
$2,424,527
$2,346,500
91%
30
94
2017
$2,106,163
$1,633,000
87%
24
82
2016
$2,516,375
$1,875,000
84%
32
80
2015
$1,733,715
$1,600,000
94%
37
65
2014
$1,696,464
$1,660,000
93%
33
50 Riverside
/ Greenwich Market Update
SFH Area Graphs: ASP vs Total Units
Average Selling Price | Total Units Sold
$3.5
40
$3.0
35 30
$2.5
25
$2.0
20 $1.5
15
$1.0
10
$0.5
5
$0.0
0
Average 2014 Selling Price2015 <$2M
Total 2017Units Sold 2018
2016
Q3 | 2018
Under $2 Million $2M-$4M
$4M-$7.5 M
$7.5 and up
$2 - 4 Million
$4 - 7.5 Million
ASP
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
-36%
-13%
0%
9%
-10%
2018
$1,997,576
$1,700,000
88%
25
69
2017
$3,130,375
$1,950,000
88%
23
77
2016
$1,868,896
$1,550,000
93%
35
74
2015
$2,161,967
$1,785,000
94%
30
71
2014
$3,320,126
$2,425,000
93%
32
68
Greenwich Market Update / Old Greenwich
at a glance {Q3 | 2018}
old greenwich
-36
%
Change in Average Selling Price {2018 v 2017}
9
%
Change in Units Sold {2018 v 2017}
25 Units Sold
2
$ m Average Selling Price
Extraordinary Results We celebrate the notable success of our associates and clients
GREENWICH
167 Zaccheus Mead Lane Last asking $6,495,000
GREENWICH
65 Upper Cross Road Last asking $15,000,000 GREENWICH
33 Vineyard Lane Last asking $5,995,000 GREENWICH
63 North Street Last asking $3,095,000 GREENWICH
25 Grove Lane Last asking $4,200,000 *in order from left to right, top to bottom
sothebyshomes.com/greenwich
w i n e i s a n e v e r- e n d i n g j o u r n e y. sothebyswine.com
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