Greenwich, CT | Web ID: 0067295
Greenwich Market Update First Quarter 2015 GREENWICH BROKERAGE One Pickwick Plaza Greenwich, CT 06830 t. 203.869.4343
sothebyshomes.com/greenwich
All figures in this document are as reported by the Greenwich MLS (3/31/15)
A MESSAGE FROM OUR MANAGER: Pam Pagnani
This has been one of the snowiest winters in years, which may have contributed to fewer sales of single-family homes town wide in the first quarter of 2015 than this time last year. According to the Greenwich Multiple Listing Service, the preponderance of single-family home sales occurred in the $1 million to $2 million price band, where 37 sales occurred for a total dollar volume in excess of $54 million, an increase of 67.3% from this time last year. Those sales occurred throughout all sectors of town as follows: eight in Greenwich, nine in Cos Cob, four in Riverside and six in Old Greenwich. Of the eight single family homes which sold between $5 million and $10 million, the Sotheby’s International Realty – Greenwich Brokerage represented five of the sellers and four of the purchasers. The two sales which sold in excess of $10 million were located in Belle Haven and Riverside, indicating a strong interest for waterfront communities. Town wide, there was an increase of 9.4% in the sales of condominiums and co-ops. The inventory of single-family homes, town wide, increased from 362 this time last year to 461 in the first quarter of 2015, an increase of 27.3%. In addition, the inventory of condominiums and co-ops increased from 94 in 2014 to 104
in 2015, a growth of 12.8%. Town wide, the average sales price was $2.65 million in the first quarter of 2015, which was slightly less than last year at this time when it was $2.66 million. The median sale price this quarter was considerably lower town wide at $1.78 million compared to $2.18 million last year at this time. Wishing everyone a well-deserved, happy spring!!
FEATURED LISTINGS
ESTATE WITH EUROPEAN FLAIR | Web ID: 0067425 | $11,900,000 Greenwich Brokerage | Shelly Tretter Lynch | 203.618.3103
QUALITY CLOSE TO TOWN | Web ID: 0067457 | $6,895,000 Greenwich Brokerage | Edward Mortimer | 203.618.3160
TOP OF STEEPLE CHASE | Web ID: 0067513 | $1,795,000 Greenwich Brokerage | Edward Mortimer | 203.618.3160
GILLIAM LANE, RIVERSIDE | Web ID: 0066683 | $3,250,000 Greenwich Brokerage | Barbie Jackson | 203.983.3818
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. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. 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.
SIGNIFICANT SALES | First Quarter 2015
MEADOWCROFT Greenwich Brokerage | Bill Andruss | 203.618.3101
MOORELAND Greenwich Brokerage | MJ Bates Hvolbeck | 203.983.3832
DEER PARK Greenwich Brokerage | Fieldstone Group | 203.618.3188
NEW ENGLISH CLASSIC Greenwich Brokerage | Fieldstone Group | 203.618.3188
TOWN WIDE
SINGLE FAMILY HOMES
FIRST QUARTER CLOSED SALES 2013 PRICE RANGE
UNIT
2014
VOLUME
UNIT
% Change (2015 v 2014)
2015
VOLUME
UNIT
VOLUME
UNIT
VOLUME
Up to $999,999
22
$15,154,400
17
$12,216,500
15
$10,542,000
-11.8%
-13.7%
$1,000,000 - $1,999,999
32
$46,400,955
23
$32,633,000
37
$54,607,119
60.9%
67.3%
$2,000,000 - $2,999,999
15
$35,645,500
27
$64,610,897
20
$46,691,000
-25.9%
-27.7%
$3,000,000 - $3,999,999
7
$24,752,419
14
$48,074,500
5
$16,512,500
-64.3%
-65.7%
$4,000,000 - $4,999,999
6
$26,683,315
6
$26,388,000
3
$13.250,000
-50.0%
-49.8%
$5,000,000 - $7,499,999
8
$49,130,000
7
$39,198,800
6
$34,650,000
-14.3%
-11.6%
$7,500,000 - $9,999,999
1
$8,000,000
-
-
2
$18,050,000
-
-
$10,000,000 & above
-
-
3
$35,320,000
2
$45,000,000
-33.3%
27.4%
91
$205,766,589
97
$258,441,697
90
$239,302,619
-7.2%
-7.4%
TOTAL
FIRST QUARTER AVERAGE DAYS ON MARKET 2013
2014
2015
% Change (2015 v 2014)
Up to $999,999
PRICE RANGE
171
124
178
43.5%
$1,000,000 - $1,999,999
185
114
171
50.0%
$2,000,000 - $2,999,999
222
151
158
4.6%
$3,000,000 - $3,999,999
204
166
41
-75..3%
$4,000,000 - $4,999,999
220
402
38
-90.5%
$5,000,000 - $7,499,999
454
303
251
-17.2%
$7,500,000 - $9,999,999
447
-
239
-
-
413
1
-99.8%
218
174
179
2.9%
$10,000,000 & above
AVERAGE
AVERAGE SALE PRICE
MEDIAN SALE PRICE
$3,500,000
2006
1st Q
$2,978,693
$2,297,500
$3,000,000
2007
$2,776,123
$2,150,000
2008
$2,903,705
$1,975,000
2009
$2,554,615
$1,806,250
2010
$2,257,573
$1,337,500
2011
$2,727,345
$1,962,500
$1,000,000
2012
$2,245,474
$1,420,000
$500,000
2013
$2,261,171
$1,810,000
2014
$2,664,347
$2,175,000
2015
$2,658,918
$1,780,000
sothebyshomes.com/greenwich
$2,500,000 $2,000,000 $1,500,000
$-
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Median Sale Price
Average Sale Price
4
GREENWICH
SINGLE FAMILY HOMES FIRST QUARTER CLOSED SALES 2013 PRICE RANGE
2014
UNIT
VOLUME
UNIT
Up to $999,999
13
$8,680,500
$1,000,000 - $1,999,999
11
$16,717,500
$2,000,000 - $2,999,999
8
$3,000,000 - $3,999,999 $4,000,000 - $4,999,999
% Change (2015 v 2014)
2015
VOLUME
UNIT
10
$7,124,000
10
$6,307,000
0
-11.5%
9
$13,751,000
18
$27,662,500
100%
101.2%
$18,570,000
18
$42,345,897
9
$21,576,000
-50.0%
-49.0%
3
$10,825,000
8
$26,797,500
5
$16,512,500
-37.5%
-38.4%
5
$22,608,315
4
$17,738,000
2
$9,1500,000
-50.0%
-48.4%
$5,000,000 - $7,499,999
7
$43,155,000
5
$29,148,800
5
$29,000,000
0%
-0.5%
$7,500,000 - $9,999,999
1
$8,000,000
-
-
2
$18,050,000
-
-
$10,000,000 & above
-
-
3
$35,320,000
1
$26,000,000
-66.7%
-26.4%
48
$128,556,315
57
$172,225,197
52
$154,258,000
-8.8%
-10.4%
TOTAL
VOLUME
UNIT
VOLUME
FIRST QUARTER AVERAGE DAYS ON MARKET 2013
2014
2015
% Change (2015 v 2014)
Up to $999,999
PRICE RANGE
184
126
190
50.8%
$1,000,000 - $1,999,999
236
109
210
92.7%
$2,000,000 - $2,999,999
256
169
151
-10.7%
$3,000,000 - $3,999,999
217
207
83
-59.9%
$4,000,000 - $4,999,999
228
450
66
-85.3%
$5,000,000 - $7,499,999
513
394
205
-48.0%
$7,500,000 - $9,999,999
447
-
239
-
$10,000,000 & above
AVERAGE
1st Q
-
413
1
-99.8%
268
209
204
-2.4%
AVERAGE SALE PRICE
MEDIAN SALE PRICE
$4,000,000
2006
$3,697,797
$3,150,000
$3,500,000
2007
$3,183,443
$2,725,000
$3,000,000
2008
$3,549,698
$2,562,000
$2,500,000
2009
$3,048,846
$2,850,000
$2,000,000
2010
$2,873,904
$1,750,000
$1,500,000
2011
$3,301,584
$2,225,000
2012
$2,461,175
$1,600,000
2013
$2,678,257
$1,950,000
2014
$3,021,495
$2,283,525
2015
$2,966,500
$1,880,000
5
$1,000,000 $500,000 $0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Average Sale Price
Median Sale Price
RIVERSIDE
SINGLE FAMILY HOMES
FIRST QUARTER CLOSED SALES 2013 PRICE RANGE
UNIT
2014
% Change (2015 v 2014)
2015
VOLUME
UNIT
VOLUME
UNIT
VOLUME
UNIT
VOLUME
Up to $999,999
4
$2,588,900
2
$1,342,500
1
$915,000
-50.0%
-31.8%
$1,000,000 - $1,999,999
9
$11,438,200
5
$7,657,000
4
$6,445,000
-20.0%
-15.8%
$2,000,000 - $2,999,999
2
$5,102,500
5
$12,300,000
5
$11,365,000
0%
-7.6%
$3,000,000 - $3,999,999
3
$10,572,419
4
$14,372,000
-
-
-
-
$4,000,000 - $4,999,999
-
-
1
$4,250,000
1
$4.100,000
0%
-3.5%
$5,000,000 - $7,499,999
1
$5,975,000
2
$10,050,000
1
$5,650,000
-50.0%
-43.8%
$7,500,000 - $9,999,999
-
-
-
-
-
-
-
-
$10,000,000 & above
-
-
-
-
1
$19,000,000
-
-
19
$35,677,019
19
$49,971,500
13
$47,475,000
-31.6%
-5.0%
TOTAL
FIRST QUARTER AVERAGE DAYS ON MARKET 2013
2014
2015
% Change (2015 v 2014)
Up to $999,999
PRICE RANGE
90
221
113
-48.9%
$1,000,000 - $1,999,999
188
143
121
-15.4%
$2,000,000 - $2,999,999
110
139
139
0%
$3,000,000 - $3,999,999
192
75
-
-
$4,000,000 - $4,999,999
-
515
32
-93.8%
$5,000,000 - $7,499,999
39
76
-
-
$7,500,000 - $9,999,999
-
-
-
-
$10,000,000 & above
AVERAGE
1st Q
-
-
1
-
152
148
129
-12.8%
AVERAGE SALE PRICE
MEDIAN SALE PRICE
2006
$1,726,237
$1,600,000
2007
$2,175,650
$1,880,000
2008
$2,989,533
$1,950,000
2009
$5,735,000
$5,375,000
2010
$2,059,922
$1,500,000
2011
$1,913,143
$907,500
2012
$2,244,500
$1,339,000
2013
$1,877,738
$1,200,000
2014
$2,630,079
$2,300,000
2015
$3,651,923
$2,080,000
sothebyshomes.com/greenwich
$6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Average Sale Price
Median Sale Price
6
OLD GREENWICH
SINGLE FAMILY HOMES FIRST QUARTER CLOSED SALES 2013 PRICE RANGE
UNIT
2014
% Change (2015 v 2014)
2015
VOLUME
UNIT
VOLUME
UNIT
VOLUME
UNIT
VOLUME
Up to $999,999
1
$610,000
4
$3,080,000
1
$860,000
-75.0%
-72.1%
$1,000,000 - $1,999,999
9
$14,245,555
4
$5,310,000
6
$8,125,119
50.0%
53.0%
$2,000,000 - $2,999,999
4
$9,573,000
2
$4,885,000
2
$4,750,000
0%
-2.8%
$3,000,000 - $3,999,999
1
$3,355,000
2
$6,905,000
-
-
-
-
$4,000,000 - $4,999,999
1
$4,075,000
1
$4,400,000
-
-
-
-
$5,000,000 - $7,499,999
-
-
-
-
-
-
-
-
$7,500,000 - $9,999,999
-
-
-
-
-
-
-
-
$10,000,000 & above
-
-
-
-
-
-
-
-
16
$31,858,555
13
$24,580,000
9
$13,735,119
-30.8%
-44.1%
TOTAL
FIRST QUARTER AVERAGE DAYS ON MARKET 2013
2014
2015
% Change (2015 v 2014)
Up to $999,999
PRICE RANGE
66
78
184
135.9%
$1,000,000 - $1,999,999
123
102
122
19.6%
$2,000,000 - $2,999,999
197
109
158
45.0%
$3,000,000 - $3,999,999
199
186
-
-
$4,000,000 - $4,999,999
177
98
-
-
$5,000,000 - $7,499,999
-
-
-
-
$7,500,000 - $9,999,999
-
-
-
-
$10,000,000 & above
AVERAGE
1st Q
-
-
-
-
146
108
137
26.9%
AVERAGE SALE PRICE
MEDIAN SALE PRICE
2006
$2,294,039
$2,295,000
2007
$2,433,547
$2,037,500
2008
$1,819,213
$1,647,500
2009
$1,256,500
$1,025,000
2010
$1,663,809
$1,151,250
2011
$1,980,133
$1,800,000
2012
$2,272,458
$1,778,750
2013
$1,991,160
$1,880,278
2014
$1,890,769
$1,225,000
2015
$1,526,124
$1,295,000
7
$3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Average Sale Price
Median Sale Price
COS COB
SINGLE FAMILY HOMES
FIRST QUARTER CLOSED SALES 2013 PRICE RANGE
2014
UNIT
VOLUME
Up to $999,999
4
$3,275,000
1
$670,000
$1,000,000 - $1,999,999
3
$3,999,700
5
$5,915,000
$2,000,000 - $2,999,999
1
$2400,000
2
$5,080,000
$3,000,000 - $3,999,999
-
-
-
$4,000,000 - $4,999,999
-
-
-
$5,000,000 - $7,499,999
-
-
$7,500,000 - $9,999,999
-
$10,000,000 & above
-
8
TOTAL
UNIT
% Change (2015 v 2014)
2015
VOLUME
UNIT
VOLUME
UNIT
VOLUME
3
$2,460,000
200.0%
267.2%
9
$12,375,500
80.0%
109.2%
4
$9,000,000
100.0%
77.2%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
$9,674,700
8
$11,665,000
16
$23,834,500
100.0% 104.3%
FIRST QUARTER AVERAGE DAYS ON MARKET 2013
2014
2015
% Change (2015 v 2014)
Up to $999,999
PRICE RANGE
233
93
160
72.0%
$1,000,000 - $1,999,999
177
106
149
40.6%
$2,000,000 - $2,999,999
274
58
198
241.4%
$3,000,000 - $3,999,999
-
-
-
-
$4,000,000 - $4,999,999
-
-
-
-
$5,000,000 - $7,499,999
-
-
-
-
$7,500,000 - $9,999,999
-
-
-
-
$10,000,000 & above
AVERAGE
1st Q
-
-
-
-
217
92
163
77.2%
AVERAGE SALE PRICE
MEDIAN SALE PRICE
2006
$1,725,417
$1,307,500
2007
$1,955,335
$1,571,345
2008
$1,134,150
$1,012,500
2009
$1,582,083
$1,421,250
2010
$997,792
$956,000
2011
$1,198,929
$1,212,500
2012
$1,296,091
$847,500
2013
$1,209,338
$960,000
2014
$1,458,125
$1,225,000
2015
$1,489,656
$1,307,500
sothebyshomes.com/greenwich
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Average Sale Price
Median Sale Price
8
TOWN WIDE
CONDOMINIUMS AND COOPS FIRST QUARTER CLOSED SALES 2013 PRICE RANGE Up to $999,999
2014
% Change (2015 v 2014)
2015
UNIT
VOLUME
UNIT
VOLUME
UNIT
VOLUME
UNIT
VOLUME
26
$12,138,578
25
$13,754,000
25
$15,107,000
0%
9.8%
$1,000,000 - $1,999,999
5
$5,845,000
6
$6,954,000
7
$10,175,000
16.7%
46.3%
$2,000,000 - $2,999,999
-
-
-
-
2
$4,967,000
-
77.2%
$3,000,000 - $3,999,999
1
$3,700,000
-
-
1
$3,400,000
-
-
$4,000,000 & above
-
-
1
$4,000,000
-
-
-
-
32
$21,638,578
32
$24,708,500
35
$33,649,500
9.4%
36.2%
TOTAL
FIRST QUARTER AVERAGE DAYS ON MARKET PRICE RANGE
2013
2014
2015
% Change (2015 v 2014)
Up to $999,999
158
181
151
-16.7%
$1,000,000 - $1,999,999
241
147
78
-46.6%
$2,000,000 - $2,999,999
-
-
170
-
$3,000,000 - $3,999,999
49
-
4
-
-
392
-
-100.0%
167
181
134
-26.0%
$4,000,000 & above
TOTAL
1st Q
AVERAGE SALE PRICE
MEDIAN SALE PRICE
2006
$975,705
$802,500
2007
$1,139,566
$639,900
2008
$812,323
$707,500
2009
$1,078,333
$676,250
2010
$706,216
$660,000
2011
$809,590
$436,000
2012
$762,386
$562,500
2013
$677,612
$531,000
2014
$772,141
$683,500
2015
$961,414
$725,000
9
$1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $2006
2007
2008
2009
Average Sale Price
2010
2011
2012
2013
2014
Median Sale Price
2015
SINGLE FAMILY ACTIVE INVENTORY GREENWICH PRICE RANGE
OLD GREENWICH
RIVERSIDE
COS COB
TOWN WIDE
2014
2015
2014
2015
2014
2015
2014
2015
2014
2015
% change
Up to $999,999
25
19
2
3
3
5
6
7
36
34
-5.6%
$1,000,000 - $1,999,999
41
43
6
10
10
18
10
11
67
82
22.4%
$2,000,000 - $2,999,999
42
54
4
11
6
11
-
4
52
80
53.8%
$3,000,000 - $3,999,999
39
45
8
14
9
11
1
4
57
74
29.8%
$4,000,000 - $4,999,999
23
41
1
5
3
5
-
-
27
51
88.9%
$5,000,000 - $7,499,999
51
63
1
3
4
8
-
-
56
74
32.1%
$7,500,000 - $9,999,999
24
21
-
1
2
-
-
-
26
22
-15.4%
$10,000,000 & above
37
41
3
3
1
-
-
-
41
44
7.3%
282
327
25
50
38
58
17
26
362
461
27.3%
TOTAL
CONDOMINIUM AND COOPS ACTIVE INVENTORY GREENWICH
RIVERSIDE
OLD GREENWICH
COS COB
TOWN WIDE
2014
2015
2014
2015
2014
2015
2014
2015
2014
2015
% change
Up to $999,999
42
54
3
-
7
3
7
9
59
66
11.9%
$1,000,000 - $1,999,999
15
21
-
-
-
-
1
2
16
23
43.8%
$2,000,000 - $2,999,999
8
5
-
-
-
-
-
1
8
6
-25.0%
PRICE RANGE
$3,000,000 - $3,999,999
7
1
-
-
-
-
-
-
7
1
-85.7%
$4,000,000 & above
4
8
-
-
-
-
-
-
4
8
100.0%
76
89
3
-
7
3
8
12
94
104
12.8%
TOTAL
FIRST QUARTER TOWN WIDE SINGLE FAMILY CLOSED BY DOLLAR VOLUME PER PRICE CATEGORIES
4.4% 18.8% 22.8% 7.5%
$1,000,000 - $1,999,999 $2,000,000 - $2,999,999 $3,000,000 - $3,999,999 $4,000,000 - $4,999,999
14.5% 19.5% 5.5%
2015 Q1
0 - $999,999
6.9%
# of transactions
$ volume
15
$10,542,000
37
$54,607,119
20
$46,691,000
$5,000,000 - $7,499,999
5
$16,512,500
$7,500,000 - $9,999,999
3
$13.250,000
6
$34,650,000
$10,000,000+
2
$18,050,000
2
$45,000,000
90
$239,302,619
10
Where curb appeal meets global appeal.
The Meaning of Perfection | Barbara Stephens | Web ID: 0067355
There’s a reason we’re the local leader in luxury real estate. We’re at home in the luxury realm. We know the territory. And we’re backed by the global reach and resources of the world’s premier real estate network — offering you privileged access to the most qualified buyers. Let us show you.
GREENWICH BROKERAGE | 203.869.4343 One Pickwick Plaza | Greenwich, CT 06830
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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.
FEATURED LISTINGS
STEEPLECHASE FARM Web ID: 0067295 | $23,500,000 This beautiful home is the center piece of an almost 13-acre working horse farm complete with stable, indoor riding arena, grazing paddocks, run-in sheds and equipment garage with groom’s quarters. Greenwich Brokerage Brad Hvolbeck | 203.618.3110
ELEGANT GREENWICH GEORGIAN Web ID: 0067297 | $16,750,000 Extraordinary custom designed, beautifully handcrafted 15,000 square foot Georgian, set on approx. 8.4 professionally landscaped acres with expansive views of Putnam Lake. Greenwich Brokerage Brad Hvolbeck | 203.618.3110
EXTRAORDINARY COUNTRY ESTATE Web ID: 0067428 | $10,988,000 Extraordinary stone and clapboard Georgian manor perfectly situated on over 4 level, landscaped acres on serene lane. Greenwich Brokerage Brad Hvolbeck | 203.618.3110