Q2 | 2018
Greenwich
Market Update
GREENWICH
11 Mayfair Lane | Offered at $14,900,000 11mayfairln.com
a message from
Pamela Pagnani Brokerage Manager
During the 2nd Quarter of 2018, when viewing the data gathered by the Greenwich Multiple Listing Service, there were 169 single family home (SFH) units which sold town wide, with a total volume exceeding $416M. This reflects an increase of 3.7% in number of SFH units sold, and an increase of 8.8% in SFH dollar volume sold when compared to the 2nd Quarter of 2017. Town wide there were 677 SFH listed at the end of the Q2 – of which 221 were listed under $2M; 250 listed over $2M to $4M; 136 listed over $4M to $7.5M; and 70 listed over $7.5M. Greater Greenwich had the most active inventory of SFH, with 440 units, followed by Riverside with 103, then Old Greenwich with 82 units and Cos Cob with 52 units. Greater Greenwich, including north of the parkway, mid-country as well as south of the Post Road, represented 48% of the total SFH units sold town wide. Here there was an increase of 15% in the average sales price. This section of town also experienced a decrease of 6.9% in the number of units sold, from 87 in Q2 2017 to 81 in Q2 2018. Cos Cob had the largest increase in the number of SFH units sold, with 27 in Q2 2018 as opposed to 17 in Q2 2017, which reflects a 59% increase. In addition, Cos Cob had the largest increase in dollar volume of SFH sold, with $46M+ which sold in Q2 2018 compared to $26M+ sold in Q2 2017, an increase of 109%. In Cos Cob, all SFH trades during the Q2 2018 and 2017 were under $4M. Riverside saw an increase in the dollar volume of SFH sales in both the under $2M as well as over $7.5M price bands when compared to Q2 2017. Overall, Riverside experienced a slight decrease in the number of SFH units which traded from 39 in Q2 2017 to 35 in Q2 2018. The average sales price decreased as well. Old Greenwich experienced a 27% increase in the number of SFH units which traded from 20 in Q2 2017 to 26 in Q2 2018. Here the dollar volume exceeded Q2 2017, by approximately $16M, which reflects an increase of 37%. In this section of town, all SFH trades were under $7.5M during Q2 2017, as well as 2018. 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 (6/30/2018). 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.
GREENWICH
205 Clapboard Ridge Road | Offered at $6,750,000 205crr.com
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Market Snapshot Q2 2018
SFH Active Inventory
All Greenwich
Highlight: Total Units Sold SFH 500 450 400
Old Greenwich
350 300
Greenwich Cos Cob Riverside
250 200
Old Greenwich
150 100
Cos Cob
50
Total Single Family Home Units Sold 81 27 35 26
Greenwich Cos Cob Riverside Old Greenwich
Old Greenwich
Riverside
Greenwich
0
Cos Cob
Riverside
Greenwich
Active Single Family Home Inventory by Price Point & Area 221 250 136 70
Under $2 Million $2 - 4 Million $4 - 7.5 Million $7.5+ Million
Q2 Highlights
Highlight: Median Sale Price SFH
All Greenwich
Highlight: Vol by Price Points SFH
$2.5
$2.0
$7.5M and up <$2M
$1.5
$4 - $7.5M
$1.0
$0.5
Old Greenwich
Riverside
Cos Cob
$0.0 *Price in Millions
Greenwich
$2 - $4M
Single Family Home Median Selling Price 2.3 $ 1.5 $ 1.8 $ 2.0 $
Greenwich Cos Cob Riverside Old Greenwich *Price in Millions
<$2M
$2 - $4M
$4 - $7.5M
$7.5M and up
Single Family Home Total Volume by Price Point 28.1% 37.7 % 22.0 % 12.2 %
Under $2 Million $2 - 4 Million $4 - 7.5 Million $7.5+ Million
Q2 Highlights
/ Greenwich Market Update
at a glance {Q2 | 2018}
greenwich
15
%
Change in Average Selling Price {2018 v 2017}
-7
%
Change in Units Sold {2018 v 2017}
81 Units Sold
2.9m
$
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
15%
31%
-5%
-7%
2%
2018
$2,880,496
$2,255,000
85%
81
440
2017
$2,498,693
$1,717,000
89%
87
433
2016
$2,572,173
$2,050,000
87%
85
473
2015
$2,817,547
$2,400,000
90%
99
397
2014
$4,160,322
$2,279,500 79% vs Condos 104 Median 420 Greenwich - SFH
Median Selling Price | Single Family Homes vs Condos $3,000,000
GRW Condo
$2,500,000
GRW SFH
$2,000,000 $1,500,000 $1,000,000 $500,000 $0
2014
2015
Single Family Homes
condos
2016
2017
2018
Condos
Average Median Discount Total Active Selling Price Selling Price Ratio Units Sold Inventory
{2018 v 2017}
Change
20%
47%
-3%
5%
17%
2018
$1,195,651
$950,000
91%
43
124
2017
$994,953
$645,000
94%
41
106
2016
$699,479
$625,000
93%
35
116
2015
$1,348,315
$1,160,000
93%
46
88
2014
$918,380
$685,000
94%
37
91 Greenwich
/ Greenwich Market Update
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
2016
<$2M
$2M-$4M
$7.5 and up
ASP
Q2 | 2018
2017
2018
Total Units Sold
$4M-$7.5M
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
27%
11%
-3%
59%
13%
2018
$1,713,796
$1,500,000
88%
27
52
2017
$1,346,971
$1,350,000
90%
17
46
2016
$1,463,224
$1,310,000
96%
29
70
2015
$1,225,500
$1,200,000
97%
24
55
2014
$1,112,214
$1,022,500
93%
14
39
Greenwich Market Update / Cos Cob
at a glance {Q2 | 2018}
cos cob
27
%
Change in Average Selling Price {2018 v 2017}
59
%
Change in Units Sold {2018 v 2017}
27
Units Sold
1.7m
$
Average Selling Price
at a glance {Q2 | 2018}
riverside
-10
%
Change in Average Selling Price {2018 v 2017}
-10
%
Change in Units Sold {2018 v 2017}
35 Units Sold
2.3m
$
Average Selling Price
Average Selling Price | Total Units Sold $3.0
50 45
$2.5
40 35
$2.0
30 $1.5
25 20
$1.0
15 10
$0.5
5 $0.0
0
2014
Average Selling Price <$2M Q2 | 2018 $7.5 and up
2015
2016
$2M-$4M Under $2 Million ASP
2017
2018
Total$4M-$7.5M Units Sold
$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
-10%
-13%
-1%
-10%
26%
2018
$2,294,716
$1,750,000
89%
35
103
2017
$2,548,636
$2,000,000
90%
39
82
2016
$2,049,221
$1,690,000
88%
31
80
2015
$2,420,778
$2,181,250
95%
44
65
2014
$2,038,038
$2,025,500
95%
26
50 Riverside
/ Greenwich Market Update
Average Selling Price | Total Units Sold 45
$2.5
40 $2.0
35 30
$1.5
25 20
$1.0
15 10
$0.5
5 $0.0
0
2014
2015
Average Selling Price <$2M Q2 | 2018 $7.5 and up
2016 $2M-$4M
2017
2018
Total Units Sold
$4M-$7.5M
Under $2 Million
$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
1%
-5%
1%
30%
6%
2018
$2,189,173
$1,997,500
92%
26
82
2017
$2,161,200
$2,095,000
91%
20
77
2016
$2,192,800
$2,285,000
93%
25
74
2015
$2,122,003
$1,845,000
96%
40
71
2014
$1,988,989
$1,602,500
90%
36
68
Greenwich Market Update / Old Greenwich
at a glance {Q2 | 2018}
old greenwich
1
%
Change in Average Selling Price {2018 v 2017}
30
%
Change in Units Sold {2018 v 2017}
26 Units Sold
2.2m
$
Average Selling Price
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