Greenwich, CT | web: 0066419
Greenwich Market Update First Quarter 2014 GREENWICH BROKERAGE One Pickwich Plaza Greenwich, CT 06830 t. 203.869.4343
sothebyshomes.com
All figures in this document are as reported by the Greenwich MLS (03/31/14)
A MESSAGE FROM OUR MANAGER: Pam Pagnani Welcome Spring! Despite the long, cold winter weather, the Greenwich market was up by 25.6 percent in volume from last year’s first quarter. These gains were driven by sales within the Greenwich single-family house market, with the strong sales increases in the $3 to $5 million dollar range. Buyers are moving up. The $1 to $3 million price range continues to be the lion’s share of sales in Greenwich market, accounting for nearly 52 percent of all single family home sales. Demand continues to be extraordinarily strong in both Riverside and Old Greenwich, exemplified by the fact that average days on the market was almost 30 percent lower than average days on the market in Greenwich market. Sotheby’s International Realty represented both sides of every single family home transaction over $10 million in the Greenwich market during the first quarter of 2014. Notably, all these transactions were located north of the Merritt Parkway, indicating a returned interest in country estates and properties. We hope 2014 is a healthy and prosperous year for all of you and invite you to contact us with your real estate needs. We look forward to working with you.
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.
FEATURED LISTINGS
CLASSIC COUNTRY ESTATE | Web ID: 0066935 | $5,750,000 Greenwich Brokerage | Barbara O’Shea | 203.618.3134
DEER PARK | Web ID: 0067024 | $5,575,000 Greenwich Brokerage | Alice Duff | 212.618.3132
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 | Q1 2014
EXQUISITE COUNTRY ESTATE Greenwich Brokerage | Yuka Kominami | 203.983.3823
ROUND HILL ESTATE Greenwich Brokerage | Shelly T. Lynch & Cate Keeney | 203.869.4343
WATERFRONT RETREAT Greenwich Brokerage | Carol Clarke | 212.618.3174
RIVERSIDE MAGIC Greenwich Brokerage | Sandy Shaw | 203.618.3105
SINGLE FAMILY HOMES
TOWN WIDE 2014 FIRST QUARTER CLOSED SALES PRICE RANGE
2012
2013
2014
% Change (2014 v 2013)
Up to $1,000,000
30
22
17
-22.7%
$1,000,000 - $3,000,000
39
47
50
6.4%
$3,000,000 - $5,000,000
10
13
20
53.8%
$5,000,000 - $7,500,000
6
8
7
-12.5%
$7,500,000 - $10,000,000
3
1
0
-100.0%
$10,000,000 & above
1
0
3
-
89
91
97
6.6%
2012
2013
2014
% Change (2014 v 2013)
Up to $1,000,000
166
171
124
-27.5%
$1,000,000 - $3,000,000
155
197
134
-32.0%
$3,000,000 - $5,000,000
128
211
237
12.3%
$5,000,000 - $7,500,000
93
454
303
-33.3%
$7,500,000 - $10,000,000
155
447
-
-
$10,000,000 & above
129
-
413
-
151
218
174
-20.2%
2012
2013
2014
% Change (2014 v 2013)
Up to $1,000,000
87
41
45
9.8%
$1,000,000 - $3,000,000
199
176
180
2.3%
$3,000,000 - $5,000,000
107
109
94
-13.8%
$5,000,000 - $7,500,000
73
59
70
18.6%
$7,500,000 - $10,000,000
40
27
25
-7.4%
$10,000,000 & above
44
44
44
0%
550
456
458
0.4%
TOTAL
AVERAGE DAYS ON MARKET PRICE RANGE
AVERAGE
ACTIVE INVENTORY PRICE RANGE
TOTAL
YEAR 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
AVERAGE SALE PRICE
MEDIAN SALE PRICE
$2,445,759 $2,978,693 $2,766,123 $2,903,705 $2,544,615 $2,257,573 $2,727,345 $2,245,474 $2,261,171 $2,664,347
$1,830,000 $2,297,500 $2,150,000 $1,975,000 $1,806,250 $1,337,500 $1,962,500 $1,420,000 $1,810,000 $2,175,000
sothebyshomes.com/greenwich
$3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Median Sales Price
Average Sales Price
4
TOWN WIDE
CONDOMINUMS AND COOPERATIVES 2014 FIRST QUARTER CLOSED SALES PRICE RANGE
2012
2013
2014
% Change (2014 v 2013)
19
26
25
-4.0%
$1,000,000 - $2,000,000
1
5
6
20.0%
$2,000,000 - $4,000,000
2
1
-
-
$4,000,000 & above
-
-
1
-
22
32
32
0.0%
2012
2013
2014
% Change (2014 v 2013)
Up to $1,000,000
221
158
181
14.6%
$1,000,000 - $2,000,000
259
240
147
-38.8%
$2,000,000 - $4,000,000
111
49
-
-
-
-
392
-
213
167
181
8.4%
2012
2013
2014
% Change (2014 v 2013)
$526,184
$466,868
$550,180
17.8%
Up to $1,000,000
TOTAL
AVERAGE DAYS ON MARKET PRICE RANGE
$4,000,000 & above
AVERAGE
AVERAGE SALES PRICE PRICE RANGE Up to $1,000,000 $1,000,000 - $2,000,000
$1,100,000
$1,169,000
$1,159,000
-0.9%
$2,000,000 - $4,000,000
$2,837,500
$3,700,000
-
-
-
-
$4,000,000
-
$762,386
$677,612
$772,141
14.0%
$4,000,000 & above
TOTAL
ACTIVE INVENTORY SINGLE FAMILY HOMES
CONDOS
200
80
180
70
160
60
140 120
50
100
40
80
30
60
20
40
10
20 0
5
<$1
$1-3
$3-5
$5-7.5
$7.5-10
$10+
0
up to $1
$1 to $2
$2 to $4
$4+
SINGLE FAMILY HOMES
GREENWICH 2014 FIRST QUARTER CLOSED SALES PRICE RANGE
2012
2013
2014
% Change (2014 v 2013)
Up to $1,000,000
14
13
10
-23.1%
$1,000,000 - $3,000,000
22
19
27
42.1%
$3,000,000 - $5,000,000
5
8
12
50.0%
$5,000,000 - $7,500,000
3
7
5
-28.6%
$7,500,000 - $10,000,000
2
1
0
-100.0%
$10,000,000 & above
1
-
3
-
47
48
57
18.8%
2012
2013
2014
% Change (2014 v 2013)
Up to $1,000,000
140
184
126
-31.5%
$1,000,000 - $3,000,000
160
244
149
-38.9%
$3,000,000 - $5,000,000
176
224
288
28.6%
$5,000,000 - $7,500,000
129
513
394
-23.2%
$7,500,000 - $10,000,000
92
447
-
-
$10,000,000 & above
129
-
413
-
150
268
209
-22.0%
TOTAL
AVERAGE DAYS ON MARKET PRICE RANGE
TOTAL
YEAR 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
AVERAGE SALE PRICE
MEDIAN SALE PRICE
$4,000,000
$2,875,108 $3,697,797 $3,183,443 $3,549,698 $3,048,846 $2,873,904 $3,301,584 $2,461,175 $2,678,257 $2,839,916
$2,250,000 $3,150,000 $2,725,000 $2,562,000 $2,850,000 $1,750,000 $2,225,000 $1,600,000 $1,950,000 $2,260,000
$3,500,000
sothebyshomes.com/greenwich
$3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Median Sales Price
Average Sales Price
6
RIVERSIDE
SINGLE FAMILY HOMES 2014 FIRST QUARTER CLOSED SALES PRICE RANGE
2012
2013
2014
% Change (2014 v 2013)
Up to $1,000,000
5
4
2
-50.0%
$1,000,000 - $3,000,000
9
11
10
-9.1%
$3,000,000 - $5,000,000
2
3
5
66.7%
$5,000,000 - $7,500,000
3
1
2
100.0%
$7,500,000 - $10,000,000
-
-
-
-
$10,000,000 & above
-
-
-
-
19
19
19
0.0%
2012
2013
2014
% Change (2014 v 2013)
Up to $1,000,000
204
90
221
145.6%
$1,000,000 - $3,000,000
113
174
141
-19.0%
$3,000,000 - $5,000,000
111
192
163
-15.1%
$5,000,000 - $7,500,000
56
39
76
94.9%
$7,500,000 - $10,000,000
-
-
-
-
$10,000,000 & above
-
-
-
-
128
152
148
-2.6%
TOTAL
AVERAGE DAYS ON MARKET PRICE RANGE
TOTAL
YEAR 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
7
AVERAGE SALE PRICE
MEDIAN SALE PRICE
$6,000,000
$1,964,262 $1,726,237 $2,175,650 $2,989,533 $5,375,000 $2,059,922 $1,913,143 $2,244,500 $1,877,738 $2,630,079
$1,665,500 $1,600,000 $1,880,000 $1,950,000 $5,375,000 $1,500,000 $907,500 $1,339,000 $1,167,500 $2,300,000
$5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Median Sales Price
Average Sales Price
SINGLE FAMILY HOMES
OLD GREENWICH 2014 FIRST QUARTER CLOSED SALES PRICE RANGE
2012
2013
2014
% Change (2014 v 2013)
Up to $1,000,000
4
1
4
300.0%
$1,000,000 - $3,000,000
6
13
6
-53.8%
$3,000,000 - $5,000,000
1
2
3
50.0%
$5,000,000 - $7,500,000
-
-
-
-
$7,500,000 - $10,000,000
1
-
-
-
$10,000,000 & above
-
-
-
-
12
16
13
-18.8%
2012
2013
2014
% Change (2014 v 2013)
Up to $1,000,000
111
66
78
18.2%
$1,000,000 - $3,000,000
195
145
104
-28.3%
$3,000,000 - $5,000,000
19
188
157
-16.5%
$5,000,000 - $7,500,000
-
-
-
-
$7,500,000 - $10,000,000
282
-
-
-
-
-
-
-
159
146
108
-26.0%
TOTAL
AVERAGE DAYS ON MARKET PRICE RANGE
$10,000,000 & above
TOTAL
YEAR 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
AVERAGE SALE PRICE
MEDIAN SALE PRICE
$3,000,000
$2,068,778 $2,294,039 $2,433,547 $1,819,213 $1,256,500 $1,663,809 $1,980,133 $2,272,458 $1,991,160 $1,890,769
$1,850,000 $2,295,000 $2,037,500 $1,647,500 $1,025,000 $1,151,250 $1,800,000 $1,778,750 $1,880,278 $1,225,000
$2,500,000
sothebyshomes.com/greenwich
$2,000,000 $1,500,000 $1,000,000 $500,000 $0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Median Sales Price
Average Sales Price
8
COS COB
SINGLE FAMILY HOMES 2014 FIRST QUARTER CLOSED SALES PRICE RANGE
2012
2013
2014
% Change (2014 v 2013)
Up to $1,000,000
7
4
1
-75.0%
$1,000,000 - $3,000,000
2
4
7
75.0%
$3,000,000 - $5,000,000
2
-
-
-
$5,000,000 - $7,500,000
-
-
-
-
$7,500,000 - $10,000,000
-
-
-
-
$10,000,000 & above
-
-
-
-
11
8
8
0.0%
2012
2013
2014
% Change (2014 v 2013)
Up to $1,000,000
223
233
93
-60.1%
$1,000,000 - $3,000,000
171
201
92
-54.2%
$3,000,000 - $5,000,000
80
-
-
-
$5,000,000 - $7,500,000
-
-
-
-
$7,500,000 - $10,000,000
-
-
-
-
$10,000,000 & above
-
-
-
-
188
217
92
-57.6%
TOTAL
AVERAGE DAYS ON MARKET PRICE RANGE
TOTAL
YEAR 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
9
AVERAGE SALE PRICE
MEDIAN SALE PRICE
$2,500,000
$1,404,659 $1,725,417 $1,995,335 $1,134,150 $1,582,083 $997,792 $1,198,929 $1,296,090 $1,209,338 $1,458,125
$1,200,000 $1,307,500 $1,571,345 $1,012,500 $1,421,250 $956,000 $1,212,500 $847,500 $960,000 $1,225,000
$2,000,000 $1,500,000 $1,000,000 $500,000 $0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Median Sales Price
Average Sales Price
ON THE MARKET
left to right from top to bottom:
IN METROPOLITAN MARKETS SAN FRANCISCO, CA | Web: 0086643 | $2,995,000 HOUSTON, TX | Web: 1230207 | $3,295,000 NEW YORK, NY | Web: 0137101 | $2,500,000 IN RESORT MARKETS EAST HAMPTON, NY | Web: 0056005 | $2,750,000 PEBBLE BEACH, FL | Web: 0473601 | $2,690,000 EAST FALMOUTH, MA | Web: 0840564 | $2,595,000 IN FOREIGN MARKETS THAILAND | Web: V7QZ6W | $3,859,216 GREECE | Web: SMZVGF | Price Upon Request FRANCE | Web: PJ7HYY | Price Upon Request sothebysrealty.com
Auction & Exhibition Calendar 2014
16 29
NEW YORK APRIL A Modern Library: The Gordon Waldorf Collection John James Audubon: The Birds of America, The Viviparous Quadrupeds of North America The Inventive Eye: Photographs from a Private Collection Photographs Important Russian Works of Art, European Silver, and Vertu American Paintings, Drawings & Sculpture Magnificent Jewels
1 8 9 16 29 29 30
LONDON APRIL Made in Britain The Orientalist Sale Arts of the Islamic World Finest and Rarest Wines Furniture Collections Travel, Atlases, Maps & Natural History Old Master & British Paintings
1 1
2 8
SOTHEBY’S INTERNATIONAL REALTY AFFILIATES LLC. AN EQUAL OPPORTUNITY COMPANY. EQUAL HOUSING OPPORTUNITY. EACH OFFICE IS INDEPENDENTLY OWNED AND OPERATED.
© MMXIV SOTHEBY’S INTERNATIONAL REALTY AFFILIATES LLC. ALL RIGHTS RESERVED. SOTHEBY’S INTERNATIONAL REALTY® IS A REGISTERED TRADEMARK LICENSED TO
1
1
PARIS APRIL Picasso and the Nude: Fifty Drawings from the Marina Picasso Collection
Shown Above Left: WILLARD LEROY METCALF (1858 – 1925) A SEASIDE PASTURE SIGNED W L METCALF (LOWER LEFT) OIL ON CANVAS PAINTED IN 1910. 26 BY 29 INCHES (66 BY 73.7 CM) AMERICAN PAINTINGS, DRAWINGS & SCULPTURE NEW YORK 16 APRIL 2014
We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com.
FEATURED LISTINGS
BRAEBURN Web ID: 0065759 | $7,100,000 A classic Backcountry estate on nearly 6 acres of sweeping open lawns. The first time on the market in over 35 years. Greenwich Brokerage Barbara K. Daly | 203.618.3171
GRAND IN OLD GREENWICH Web ID: 0066845 | $3,575,000 Close to the beach and Village. 5 bedrooms and 7 bathrooms on .39 acres. Greenwich Brokerage Edward Mortimer | 203.618.3160
LUXURIOUS DOWNTOWN LIVING Web ID: 0066419 | $4,900,000 Beautiful traditional Georgian architecture is embodied in this superbly designed residence in downtown Greenwich. Greenwich Brokerage Bill Andruss | 203.618.3101