MARKET UPDATE | YEAR END 2013 GREENWICH, CT THE GREENWICH RESIDENTIAL REAL ESTATE MARKET continued its steady improvement throughout 2013. The market experienced strong sales growth in the number of single family homes sold, increasing 10.9 percent to 643 from 580 in 2012.* This significant increase reflects a further return to a healthy local market. The average sale price for single-family houses dropped 9.6 percent to $2,249,291. Most price categories saw average sales growth keeping pace with the previous year’s sales, except for the booming $1 million to $3 million range which increased a remarkable 35.6 percent. There were 8 sales over $10 million, down from 14 in 2012, and one $25 million sale in 2013. Total sales in 2013, at $1.6 billion, exceeded the total sales of 2012 by $101 million, or 6.8 percent. Continuing the trend of recent years, Old Greenwich, Riverside remain highly desirable neighborhoods. Total single-family sales in Riverside increased 19.7 percent to 152
ABOUT OUR AREA Greenwich, the gateway to New England, is a terrific place to live and enjoy. 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.
GREENWICH BROKERAGE sothebyshomes.com/greenwich t: 203.869.4343 One Pickwich Plaza Greenwich, CT 06830
from 127 in 2012. Old Greenwich single-family sales between $1 million and $3 million increased 51 percent to 74 from 49 in 2012. We wish everyone a healthy and prosperous 2014 and welcome you to contact us with your real estate needs.
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. *All figures as reported by the Greenwich MLS (12/31/13). Operated by Sotheby’s International Realty, Inc. Sotheby’s International Realty® is a registered trademark. Equal Housing Opportunity.
SALES SALES
SINGLE FAMILY HOMES SINGLE FAMILY HOMES TOWN WIDE
YEAR END 2013 CLOSED SALES PRICE RANGE
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
136
175
156
-10.9%
$1,000,000 - $3,000,000
265
267
362
35.6%
$3,000,000 - $5,000,000
78
73
75
2.7%
$5,000,000 - $7,500,000
35
38
34
-10.5%
$7,500,000 - $10,000,000
5
13
8
-38.5%
$10,000,000 & above
7
14
8
-42.9%
526
580
643
10.9%
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
176
182
153
-15.9%
$1,000,000 - $3,000,000
232
200
145
-27.5%
$3,000,000 - $5,000,000
202
229
226
-1.3%
$5,000,000 - $7,500,000
299
279
279
0.0%
$7,500,000 - $10,000,000
181
272
291
7.0%
$10,000,000 & above
529
230
597
159.6%
AVERAGE
179
171
155
-9.4%
2011
2012
2013
% CHANGE (2013 VS 2012)
TOTAL
AVERAGE DAYS ON MARKET AT SALE PRICE RANGE
ACTIVE INVENTORY PRICE RANGE Up to $1,000,000
77
39
36
-7.7%
$1,000,000 - $3,000,000
171
148
119
-19.6%
$3,000,000 - $5,000,000
82
84
84
0.0%
$5,000,000 - $7,500,000
60
55
56
1.8%
$7,500,000 - $10,000,000
32
28
26
-7.1%
$10,000,000 & above
50
42
41
-2.4%
TOTAL
472
396
362
-8.6%
AVERAGE AND MEDIAN SALE PRICE YEAR
AVERAGE SALE PRICE
MEDIAN SALE PRICE
$3,500,000
2004
$2,338,219
$1,726,300
2005
$2,576,327
$1,895,000
$3,000,000
2006
$2,687,400
$1,900,000
2007
$3,012,134
$2,177,500
2008
$2,822,185
$1,900,000
2009
$2,668,805
$1,687,500
2010
$2,518,863
$1,815,000
2011
$2,340,891
$1,497,500
2012
$2,487,908
$1,721,250
Year End 2013
$2,249,291
$1,712,500
$2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Median Sales Price
Average Sales Price
GREENWICH BROKERAGE: One Pickwick Plaza, Greenwich, CT 06830 | 203.869.4343 | sothebyshomes.com/greenwich
SALES SALES
CONDOMINIMUMS ANDCOOPERATIVES COOPERATIVES CONDOMINIUMS AND
TOWN WIDE
YEAR END 2013 CLOSED SALES 2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
PRICE RANGE
104
116
151
30.2%
$1,000,000 - $2,000,000
17
19
34
78.9%
$2,000,000 - $4,000,000
7
9
9
0.0%
$4,000,000 & above
1
1
0
-100.0%
129
145
194
33.8%
TOTAL
AVERAGE DAYS ON MARKET AT SALE 2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
PRICE RANGE
219
227
174
-23.3%
$1,000,000 - $2,000,000
333
298
311
4.4%
$2,000,000 - $4,000,000
260
336
430
28.0%
$4,000,000 & above
628
0
-
-
TOTAL
206
217
181
-16.6%
2011
2012
2013
% CHANGE (2013 VS 2012)
AVERAGE SALE PRICE List Price Up to $1,000,000
$525,388
$538,576
$564,597
4.8%
$1,000,000 - $2,000,000
$1,325,221
$1,322,421
$1,344,431
1.7%
$2,000,000 - $4,000,000
$2,752,143
$2,689,376
$2,635,833
-2.0%
$4,000,000 & above
$4,100,000
$4,850,000
-
-
$779,334
$804,519
$797,357
-0.9%
TOTAL
ACTIVE INVENTORY SINGLE FAMILY HOMES
140
CONDO
80 70
120
60
100
50
80
40
60
30
40
20
20
10
0
0
up to $1
$1 to $3
$3 to $5
$5 to $7.5
$7.5 to $10
$10+
up to $1
$1 to $2
$2 to $4
$4+
SALES SALES
SINGLE FAMILY HOMES GREENWICH
YEAR END 2013 CLOSED SALES PRICE RANGE
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
130
154
176
14.3%
$1,000,000 - $3,000,000
152
145
197
35.9%
$3,000,000 - $5,000,000
60
51
55
7.8%
$5,000,000 - $7,500,000
28
27
30
11.1%
$7,500,000 - $10,000,000
4
11
6
-45.5%
$10,000,000 & above
7
10
7
-30.0%
381
398
471
18.3%
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
200
219
164
-25.1%
$1,000,000 - $3,000,000
285
147
253
72.1%
$3,000,000 - $5,000,000
240
234
234
0.0%
$5,000,000 - $7,500,000
309
294
281
-4.4%
$7,500,000 - $10,000,000
182
294
301
2.4%
$10,000,000 & above
529
271
619
128.4%
AVERAGE
214
206
189
-8.3%
TOTAL
AVERAGE DAYS ON MARKET AT SALE PRICE RANGE
AVERAGE AND MEDIAN SALE PRICE YEAR
AVERAGE SALE PRICE
MEDIAN SALE PRICE
$3,500,000
2004
$2,369,441
$1,500,000
$3,000,000
2005
$2,506,653
$1,514,000
$2,500,000
2006
$2,618,304
$1,850,000
2007
$3,003,380
$2,000,000
2008
$2,737,245
$1,732,500
2009
$2,784,533
$1,600,000
2010
$2,512,653
$1,557,500
2011
$2,461,335
$1,527,500
2012
$2,093,624
$1,480,000
Year End 2013
$2,164,045
$1,382,500
$2,000,000 $1,500,000 $1,000,000 $500,000 $0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Median Sales Price
Average Sales Price
GREENWICH BROKERAGE: One Pickwick Plaza, Greenwich, CT 06830 | 203.869.4343 | sothebyshomes.com/greenwich
SALES SALES
SINGLE FAMILY HOMES CONDOMINIUMS AND COOPERATIVES YEAR END 2013 CLOSED SALES PRICE RANGE
RIVERSIDE
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
42
40
44
10.0%
$1,000,000 - $3,000,000
52
65
88
35.4%
$3,000,000 - $5,000,000
10
12
14
16.7%
$5,000,000 - $7,500,000
5
7
4
-42.9%
$7,500,000 - $10,000,000
1
1
1
0.0%
$10,000,000 & above
-
2
1
-50.0%
110
127
152
19.7%
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
208
151
204
35.1%
$1,000,000 - $3,000,000
207
151
151
0.0%
$3,000,000 - $5,000,000
55
200
195
-2.5%
$5,000,000 - $7,500,000
244
228
264
15.8%
$7,500,000 - $10,000,000
139
1
48
4700.0%
-
99
448
352.5%
158
123
137
11.4%
TOTAL
AVERAGE DAYS ON MARKET AT SALE PRICE RANGE
$10,000,000 & above AVERAGE
AVERAGE AND MEDIAN SALE PRICE YEAR
AVERAGE SALE PRICE
MEDIAN SALE PRICE
2004
$2,034,924
$1,520,000
2005
$1,790,447
$1,580,000
2006
$1,866,822
$1,600,000
2007
$2,225,088
$1,836,250
$1,500,000
2008
$2,609,683
$1,950,000
$1,000,000
2009
$1,864,633
$1,485,000
2010
$1,765,465
$1,444,495
2011
$1,812,713
$1,350,000
2012
$2,075,532
$1,450,000
Year End 2013
$1,900,814
$1,635,000
$3,000,000 $2,500,000 $2,000,000
$500,000 $0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Median Sales Price
Average Sales Price
SALES SALES
SINGLE SINGLE FAMILY FAMILYHOMES HOMES OLD GREENWICH
YEAR END 2013 CLOSED SALES PRICE RANGE
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
37
46
45
-2.2%
$1,000,000 - $3,000,000
54
49
74
51.0%
$3,000,000 - $5,000,000
11
8
8
0.0%
$5,000,000 - $7,500,000
2
4
-
-
$7,500,000 - $10,000,000
-
1
1
0.0%
$10,000,000 & above
-
2
-
-
104
110
128
16.4%
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
182
194
122
-37.1%
$1,000,000 - $3,000,000
150
194
133
-31.4%
$3,000,000 - $5,000,000
119
176
181
2.8%
$5,000,000 - $7,500,000
179
336
-
-
$7,500,000 - $10,000,000
-
300
475
58.3%
$10,000,000 & above
-
156
-
-
123
161
103
-36.0%
TOTAL
AVERAGE DAYS ON MARKET AT SALE PRICE RANGE
AVERAGE
AVERAGE AND MEDIAN SALE PRICE YEAR
AVERAGE SALE PRICE
MEDIAN SALE PRICE
2004
$1,391,405
$1,151,000
2005
$1,636,940
$1,275,000
$2,000,000
2006
$1,634,990
$1,370,000
$1,500,000
2007
$2,022,245
$1,675,000
2008
$1,728,545
$1,345,000
2009
$1,532,134
$1,137,500
2010
$1,523,297
$1,262,500
2011
$1,678,132
$1,369,000
2012
$1,925,975
$2,262,500
Year End 2013
$1,511,533
$1,275,000
$2,500,000
$1,000,000 $500,000 $0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Median Sales Price
Average Sales Price
GREENWICH BROKERAGE: One Pickwick Plaza, Greenwich, CT 06830 | 203.869.4343 | sothebyshomes.com/greenwich
SALES SALES
SINGLE FAMILY HOMES CONDOMINIUMS AND COOPERATIVES
COS COB
YEAR END 2013 CLOSED SALES PRICE RANGE
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
31
51
42
-17.6%
$1,000,000 - $3,000,000
29
34
42
23.5%
$3,000,000 - $5,000,000
-
5
1
-80.0%
$5,000,000 - $7,500,000
-
-
-
-
$7,500,000 - $10,000,000
-
-
-
足-
$10,000,000 & above
-
-
-
-
60
90
85
-5.6%
2011
2012
2013
% CHANGE (2013 VS 2012)
Up to $1,000,000
168
188
162
-13.8%
$1,000,000 - $3,000,000
211
201
162
-19.4%
$3,000,000 - $5,000,000
-
244
306
25.4%
$5,000,000 - $7,500,000
-
-
-
-
$7,500,000 - $10,000,000
-
-
-
-
$10,000,000 & above
-
-
-
-
150
163
136
-16.6%
TOTAL
AVERAGE DAYS ON MARKET AT SALE PRICE RANGE
AVERAGE
AVERAGE AND MEDIAN SALE PRICE YEAR
AVERAGE SALE PRICE
MEDIAN SALE PRICE
$1,600,000
2004
$1,024,406
$910,000
$1,400,000
2005
$1,144,986
$910,000
$1,200,000
2006
$1,332,820
$1,077,500
$1,000,000
2007
$1,396,314
$1,123,750
$800,000
2008
$1,295,177
$1,100,000
$600,000
2009
$1,209,100
$900,000
$400,000
2010
$1,038,781
$896,250
$200,000
2011
$1,116,343
$980,000
$0
2012
$1,170,596
$900,000
Year End 2013
$1,139,015
$992,500
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Median Sales Price
Average Sales Price
ON THE MARKET FEATURED PROPERTIES
LISTINGS AROUND THE WORLD IN THIS PRICE RANGE
CENTRAL GREENWICH
IN METROPOLITAN MARKETS
MEAD POINT PRE-WAR
HOUSTON
BROOKLYN
SAN FRANCISCO
6 br, 5 ba, 2 hf ba | $4,995,000
4 br / 4 ba / 2 hf ba $3,850,000
3 br / 2 ba / 1 hf ba $3,400,000
3 br / 2 ba / 1 hf ba $3,000,000
NORTH GREENWICH
IN RESORT MARKETS
SANTA FE
PALM BEACH
OJAI
3 br / 4 ba / 1 hf ba $3,000,000
4 br / 4 ba / 1 hf ba $2,950,000
3 br / 3 ba $3,600,000
SOUTH AFRICA
PUERTO RICO
AUSTRALIA
$2,593,121
7 ba / 1 hf ba $3,600,000
3 br / 3 ba Price Upon Request
CLASSIC COUNTRY ESTATE 5 br, 4 ba, 2 hf ba | $3,495,000
OLD GREENWICH
NEWLY RENOVATED 5 br, 4 ba, 1 hf ba | $3,300,000
IN FOREIGN MARKETS
AT AUCTION
SONGYE “FOUR HORN” COMMUNITY POWER FIGURE The Collection of Allan Stone 15 November, 2013 Estimate: $600,000-$900,000
THE PINK STAR Rare English & European Magnificent Jewels 13 November, 2013 Sold: $84,730,214.30