Greenwich Market Update | Q1 2015

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

sothebyshomes.com/greenwich

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