Greenwich, CT | Web ID:0067579
Greenwich Market Update First Half 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 (6/30/15)
A MESSAGE FROM OUR MANAGER: Pam Pagnani
After a slow, weather-related first quarter of 2015 with only 90 singlefamily closings, the market switched into higher gear with 207 singlefamily closings in the second quarter of 2015. In June 2015, there was a significant increase in closings, which included 104 sales. Town-wide, 74% of total single-family sales in Greenwich occurred in the under $3 million range, where 221 homes sold. The majority of the remaining 25% were between $3 and $7.5 million, where 70 homes sold. The ultra-high end segment saw a decrease in the total number of sales. There were three homes that sold over $10 million, located in the waterfront communities of Belle Haven, Indian Harbor and Harbor Point. Town-wide inventory remains consistent with 2014, with 588 active listings; whereas there has been a slight increase in the number of homes sold, 297 year-to-date. The town-wide average sale price is currently $2,488,371 and the median sale price is $1,875,000. Drilling down on these numbers, Greenwich proper has an average sale price of $ 2,868,842 at 151 transactions; the majority of sales continue to favor closer to town locations with less than 20% of those sales occurring north of the parkway. Old Greenwich, with an average sale price of $2,010,305, is selling at a similar pace as last year, with 50 homes sold year-todate. Riverside saw a 24% change increase in the number of transactions with 56 sales in that neighborhood, as well as an 18.7% increase in average sale price to $2,715,879. The neighborhood with the largest increase in sales transactions occurred in Cos Cob, where 40 homes sold year-to-date, as compared to 22 last year during the same time period. The average sales price in Cos Cob also jumped to $1,331,163. The condominium market has seen an uptick, as the demand is strong for in-town living. With increases in both the average and the median sales prices, many of these newer construction condominiums have luxury details and finishes, which continue to define this segment of the market. Sotheby’s International Realty, with its unparalleled global reach, delivers outstanding results for clients, both buyers and sellers. We look forward to sharing our expertise, by providing the best in pricing, marketing, negotiating and selling the wonderful homes of Greenwich. As the manager, I am proud to be working with independent sales associates of this caliber and appreciate their dedication to all things Greenwich. Recently, Sotheby’s International Realty- Greenwich proudly sponsored a Golf and Tennis Slam that successfully raised funds for the Breast Cancer Research Foundation. We are local and our roots in the community serve not only our business, but our friends and neighbors as well.
FEATURED LISTINGS
STUNNING COLONIAL | Web ID: 0067564 | $2,900,000 EXCEPTIONAL GREENWICH ESTATE | Web ID: 0067611 | $17,350,000 Greenwich Brokerage | Brad Hvolbeck·MJ Bates Hvolbeck | 203.618.3110 Greenwich Brokerage | Patte Nusbaum | 203.249.0078 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.
Web: 0067711
TOWNWIDE Greenwich, the gateway to New England, is a terrific place to live and enjoy. The town is comprised of several villages or hamlets, each with its own unique character, and many with roots dating back to the pre-Revolutionary War era. Residents of our premier community revel in its parks, beaches and sailing on Long Island Sound; Backcountry horseback riding and hiking among other outdoor activities; terrific public and private schools and a sophisticated social scene. With its easy and convenient access to New York City, either by train or car, Greenwich continues to be one of the best towns in America.
AVERAGE SALES PRICE
MEDIAN SALES PRICE AVERAGE SOLD/LIST PRICE DIFFERENCE
UNITS SOLD SOLD JAN-JUNE 2014
SOLD JAN-JUNE 2015
SF
CONDO
2014
$3,001,007
$800,045
2015
$2,488,371
$1,101,838
% CHANGE
-17.1%
37.7%
2014
$2,000,000
$665,000
2015
$1,875,000
$830,000
% CHANGE
-6.3%
24.8%
2014
83.2%
92.6%
2015
90.8%
93.1%
% CHANGE
9.1%
0.5%
INVENTORY % CHANGE 2014 TO 2015
LAST YEAR (6.30.2014)
THIS YEAR (6.30.2015)
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
Up to $999,999
55
66
45
58
-18.2%
-12.1%
52
60
52
68
$1,000,000 - $1,999,999
81
16
118
23
45.7%
43.8%
122
31
113
21
$2,000,000 - $2,999,999
58
-
58
8
0.0%
-
110
13
117
9
$3,000,000 - $3,999,999
40
2
32
3
-20.0%
50.0%
77
2
97
3
$4,000,000 - $4,999,999
18
1
17
1
-5.6%
0.0%
51
4
50
5
$5,000,000 - $7,499,999
12
-
21
-
75.0%
-
78
1
80
1
$7,500,000 - $9,999,999
5
-
3
-
-40.0%
-
35
-
24
-
$10,000,000 & Above
8
-
3
-
-62.5%
-
52
-
55
-
277
85
297
93
7.2%
9.4%
577
111
588
107
TOTALS
3
Web: 0067604
GREENWICH 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. Founded in 1640, this historic town retains its natural beauty and picturesque charm, encompassing some 50 square miles stretching from the rolling hills, woodlands and meadows of the backcountry to 32 miles of shoreline on the Sound.
AVERAGE SALES PRICE
MEDIAN SALES PRICE AVERAGE SOLD/LIST PRICE DIFFERENCE
UNITS SOLD SOLD JAN-JUNE 2014
SOLD JAN-JUNE 2015
SF
CONDO
2014
$3,757,135
$883,115
2015
$2,868,842
$1,211,115
% CHANGE
-23.6%
37.1%
2014
$2,283,525
$685,000
2015
$2,175,000
$932,500
% CHANGE
-4.8%
36.1%
2014
80.4%
92.3%
2015
89.3%
92.8%
% CHANGE
11.1%
0.5%
INVENTORY % CHANGE 2014 TO 2015
LAST YEAR (6.30.2014)
THIS YEAR (6.30.2015)
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
Up to $999,999
28
41
25
40
-10.7%
-2.4%
37
44
23
54
$1,000,000 - $1,999,999
39
13
44
23
12.8%
76.9%
68
29
59
16
$2,000,000 - $2,999,999
34
-
28
7
-17.6%
-
77
11
72
9
$3,000,000 - $3,999,999
25
2
22
3
-12.0%
50.0%
52
2
64
3
$4,000,000 - $4,999,999
12
1
10
1
-16.7%
0.0%
39
4
44
5
$5,000,000 - $7,499,999
10
-
17
-
70.0%
-
70
1
64
1
$7,500,000 - $9,999,999
5
-
3
-
-40.0%
-
30
-
22
-
$10,000,000 & Above
8
-
2
-
-75.0%
-
47
-
49
-
161
57
151
74
-6.2%
29.8%
420
91
397
88
TOTALS
4
sothebyshomes.com/greenwich
Web: 0067425
NORTH & SOUTH OF PARKWAY Situated north of the Merritt Parkway, the backcountry offers large luxury Greenwich real estate and properties amid extraordinarily beautiful countryside, with four-acre zoning throughout much of the area and extensive open space preserved through the efforts of the Greenwich Land Trust and other conservation organizations. The backcountry of Greenwich offers a truly unique locale, a pastoral haven less than 35 miles from Manhattan. South of the Merritt Parkway, Mid-Country Greenwich enjoys a country-like setting with Greenwich real estate on zoning ranges from one to two acres in size. Protected conservation land adds to its pastoral ambiance, and scenic riding trails are ideal for the equestrian enthusiast.
AVERAGE SALES PRICE
MEDIAN SALES PRICE AVERAGE SOLD/LIST PRICE DIFFERENCE
NORTH SF
SOUTH SF
2014
$4,601,912
$3,142,245
2015
$2,815,942
$3,379,957
% CHANGE
-38.8%
7.60%
SOLD JAN-JUNE 2015
$2,912,500 $2,725,000 $1,962,500 $2,750,000
% CHANGE
-32.6%
0.9%
2014
82.1%
87.1%
2015
85.7%
89.7%
% CHANGE
4.4%
3.0%
UNITS SOLD SOLD JAN-JUNE 2014
2014 2015
INVENTORY % CHANGE 2014 TO 2015
LAST YEAR (6.30.2014)
THIS YEAR (6.30.2015)
NORTH SF
SOUTH SF
NORTH SF
SOUTH SF
NORTH SF
SOUTH SF
NORTH SF
SOUTH SF
NORTH SF
SOUTH SF
Up to $999,999
3
7
3
5
0.0%
-28.6%
3
2
3
7
$1,000,000 - $1,999,999
6
20
10
21
66.7%
5.0%
25
20
22
24
$2,000,000 - $2,999,999
5
26
3
21
-40.0%
-19.2%
24
43
17
44
$3,000,000 - $3,999,999
4
19
3
17
-25.0%
-10.5%
18
26
22
34
$4,000,000 - $4,999,999
3
8
2
7
-33.3%
-12.5%
13
19
14
26
$5,000,000 - $7,499,999
2
6
5
9
150.0%
50.0%
22
35
20
34
$7,500,000 - $9,999,999
-
4
-
2
-
-50.0%
9
15
8
11
$10,000,000 & Above
5
2
-
2
-100.0%
0.0%
23
14
26
16
28
92
26
84
-7.1%
-8.7%
137
174
132
196
TOTALS
5
Web: 0067120
RIVERSIDE Riverside’s extensive shoreline on the river, harbor, and Long Island Sound contribute to its appeal as a desirable waterfront community with terrific Greenwich houses. It is closely linked to the neighboring village of Old Greenwich, and also lies within easy reach of the railroad station, making Riverside properties ideal for commuters to New York City.
AVERAGE SALES PRICE
MEDIAN SALES PRICE AVERAGE SOLD/LIST PRICE DIFFERENCE
UNITS SOLD SOLD JAN-JUNE 2014
SOLD JAN-JUNE 2015
SF
CONDO
2014
$2,288,011
$719,000
2015
$2,715,879
$649,000
% CHANGE
18.7%
-9.7%
2014
$2,175,000
$735,000
2015
$2,181,250
$649,000
% CHANGE
0.3%
-11.7%
2014
92.8%
94.2%
2015
91.1%
100.0%
% CHANGE
-1.8%
6.2%
INVENTORY % CHANGE 2014 TO 2015
LAST YEAR (6.30.2014)
THIS YEAR (6.30.2015)
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
Up to $999,999
8
4
5
1
-37.5%
-75.0%
4
1
8
1
$1,000,000 - $1,999,999
11
-
19
-
72.7%
-
9
-
17
-
$2,000,000 - $2,999,999
13
-
16
-
23.1%
-
12
-
16
-
$3,000,000 - $3,999,999
9
-
7
-
-22.2%
-
12
-
9
-
$4,000,000 - $4,999,999
2
-
6
-
200.0%
-
5
-
2
-
$5,000,000 - $7,499,999
2
-
2
-
0.0%
-
2
-
7
-
$7,500,000 - $9,999,999
-
-
-
-
-
-
1
-
1
-
$10,000,000 & Above
-
-
1
-
-
-
5
-
5
-
45
4
56
1
24.4%
-75.0%
50
1
65
1
TOTALS
6
sothebyshomes.com/greenwich
Web: 0067558
OLD GREENWICH The town’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 within walking distance of scenic Greenwich Point with its fine town beach, park and boating facilities. The convenient railroad station gives easy access to midtown Manhattan, approximately 45 minutes away.
AVERAGE SALES PRICE
MEDIAN SALES PRICE AVERAGE SOLD/LIST PRICE DIFFERENCE
UNITS SOLD SOLD JAN-JUNE 2014
SOLD JAN-JUNE 2015
SF
CONDO
2014
$1,962,931
$539,376
2015
$2,010,305
$565,591
% CHANGE
2.4%
4.9%
2014
$1,600,000
$427,500
2015
$1,750,000
$460,000
% CHANGE
9.4%
7.6%
2014
89.5%
94.1%
2015
95.4%
96.2%
% CHANGE
6.6%
2.2%
INVENTORY % CHANGE 2014 TO 2015
LAST YEAR (6.30.2014)
THIS YEAR (6.30.2015)
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
Up to $999,999
11
13
7
11
-36.4%
-15.4%
2
9
9
5
$1,000,000 - $1,999,999
19
1
27
-
42.1% -100.0%
25
-
13
-
$2,000,000 - $2,999,999
9
-
10
-
11.1%
-
14
-
19
-
$3,000,000 - $3,999,999
6
-
3
-
-50.0%
-
10
-
15
-
$4,000,000 - $4,999,999
4
-
1
-
-75.0%
-
7
-
4
-
$5,000,000 - $7,499,999
-
-
2
-
-
-
6
-
9
-
$7,500,000 - $9,999,999
-
-
-
-
-
-
4
-
1
-
$10,000,000 & Above
-
-
-
-
-
-
-
-
1
-
49
14
50
11
2.0%
-21.4%
68
9
71
5
TOTALS
7
Web: 0067607
COS COB Situated just east of Central Greenwich, Cos Cob provides a peaceful village-like setting in a close-knit community with single-family Greenwich homes and condominiums. Cos Cob residential areas border the scenic Mianus River, and extensive marinas are located on the upper Mianus Harbor.
AVERAGE SALES PRICE
MEDIAN SALES PRICE AVERAGE SOLD/LIST PRICE DIFFERENCE
UNITS SOLD SOLD JAN-JUNE 2014
SOLD JAN-JUNE 2015
SF
CONDO
2014
$1,238,000
$723,900
2015
$1,331,163
$853,986
% CHANGE
7.5%
18.0%
2014
$1,175,000
$600,000
2015
$1,257,500
$649,900
% CHANGE
7.0%
8.3%
2014
93.1%
92.1%
2015
94.4%
94.6%
% CHANGE
1.4%
2.7%
INVENTORY % CHANGE 2014 TO 2015
LAST YEAR (6.30.2014)
THIS YEAR (6.30.2015)
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
Up to $999,999
8
8
8
6
0.0%
-25.0%
9
6
12
8
$1,000,000 - $1,999,999
12
2
28
-
133.3% -100.0%
20
2
24
5
$2,000,000 - $2,999,999
2
-
4
1
100.0%
-
7
2
10
-
$3,000,000 - $3,999,999
-
-
-
-
-
-
3
-
9
-
$4,000,000 - $4,999,999
-
-
-
-
-
-
-
-
-
-
$5,000,000 - $7,499,999
-
-
-
-
-
-
-
-
-
-
$7,500,000 - $9,999,999
-
-
-
-
-
-
-
-
-
-
$10,000,000 & Above
-
-
-
-
-
-
-
-
-
-
22
10
40
7
81.8%
-30.0%
39
10
55
13
TOTALS
8
sothebyshomes.com/greenwich
There’s Strength in Numbers
Web: 0067658
Kathryn Adams · Ann Anderson · Louise Andren · Bill Andruss · Stephen Archino · David Ayres · Amy Marisa Balducci Joseph Barbieri · Bruce Barker · Helene Barre · Marijane Bates Hvolbeck · Krissy Blake · Elizabeth Boutry Roxana Bowgen · Tom Broadhurst · Carol Clarke · Karen Coxe · Barbara K. Daly · Jennifer Dott · Martha Drake Alice Duff · Fran Ehrlich · Kim Ferraro · Mary-Stuart Freydberg · Tom Gorin · Joanne Gorka · Mary Ann Grabel John Graves · John Grunow · Renee Haggquist · Barbara Hindman · Kim Horton · Brad Hvolbeck · Barbie Jackson Peter K. Joyce · Suzanne Katz · Cate Keeney · Jill Tighe Kelly · Michele Klosson · Yuka Kominami · James Lacerenza Daphne Lamsvelt-Pol · Paul Larson · Steve Magnuson · Cheryl Makrinos · Louise Marasso · Leslie McElwreath Edward Mortimer · Julie Nelson · Sarah Nichols · Patte Nusbaum · Barbara O’Shea · Susie Parkin · Heather Platt Susie Quinn · Amy Rabenhorst · Joan Roach · Ellen Roth · Lynn Schiro · Pollie Seidel · Sandy Shaw · FiFi Sheridan Barbara Stephens · Marilynne Stratton · Shelly Tretter Lynch · Bryan Tunney · Marje Vance Allocco · Cynthia Vanneck Madeleine Walker · Lisa Weicker · Lee Weld · Catalina Yturralde · Rita Yturralde · Carol Zuckert
Pam Pagnani, Vice President/Brokerage Manager GREENWICH BROKERAGE | ONE PICKWICK PLAZA | GREENWICH, CT 06830 203.869.4343 | sothebyshomes.com/greenwich
SIGNIFICANT SALES | First Half 2015
CLASSIC COUNTRY ESTATE Greenwich Brokerage | Barbara O’Shea | 203.618.3134
BRAEBURN Greenwich Brokerage | Barbara K. Daly | 203.618.3171
BROOKRIDGE Greenwich Brokerage | Bill Andruss | 203.618.3101
PRIVATE MID-COUNTRY CLASSIC Greenwich Brokerage | Carol Zuckert | 203.618.3135
Verner Panton, VIII square, wool carpet and Pierre Paulin set of armchairs and Mushroom stools from NOW ! PARIS 01 JULY 2015
AUCTION CALENDAR JULY 2015 Now ! Paris 01 July
Old Master & British Paintings Evening Sale London 08 July
Contemporary Art Evening Auction London 01 July
Old Master & British Paintings Day Sale London 09 July
Contemporary Art Day Auction London 02 July
Old Master Sculpture And Works Of Art London 09 July
Medieval And Renaissance Manuscripts London 07 July
English Literature, History, Children’s Books & Illustrations London 14 July
Treasures London 08 July
Finest and Rarest Wines London 15 July
Old Master & British Drawings London 08 July
Victorian, Pre-Raphaelite & British Impressionist Art London 15 July
Rencontres Couture À Paris De La Collection Didier Ludot Paris 08 July
Modern Life: Post-War Photographs, Prints & Design New York 22 July
We invite you to explore our real estate listings at www.sothebyshomes.com and view the worldwide auction schedule at sothebys.com Enquiries +1 212 606 7000. Sotheby’s 72 & York Register now at sothebys.com SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2015
FEATURED LISTINGS
GREENWICH EQUESTRIAN ESTATE Web ID: 0067295 | $23,500,000 One of a kind equestrian estate. A stunning expansive award-winning home is the centerpiece of a 12+ acre working horse farm complete with an 8+ stall stable, indoor riding arena, grazing paddocks, run-in sheds and equipment garage with grooms’ quarters. Greenwich Brokerage Brad Hvolbeck | 203.618.3110
MODERN LOVE Web ID: 0067619 | $2,700,000 Mid-Century Modern is reborn in the spirit of the 1950’s with exact attention to detail and design. The home opens to the magical hillside setting overlooking the Mianus River enhanced by terraces and rock gardens with an Asian touch. Greenwich Brokerage Barbara O’Shea | 203.618.3134
BEAUTY IN BELLE HAVEN Web ID: 0067604 | $6,375,000 Like-new recent gut renovation. A rare find in Belle Haven. Traditional on the outside but up-to-the minute on the inside. What everyone wants today. Greenwich Brokerage Kathryn Adams | 203.618.3124