Greenwich Market Update | Q3 2016

Greenwich, CT | sothebyshomes.com/0068195

Greenwich Market Update 3rd Quarter 2016 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 (9/30/2016)

A MESSAGE FROM OUR MANAGER: Pam Pagnani This report provides information about the Greenwich real estate market for the period of January 1, 2016 through September 30, 2016 using data from the Greenwich Multiple Listing Service (GMLS). During this period, Greenwich townwide* had a robust inventory of single-family homes with 636 on the market as of September 30, 2016 as opposed to 614 for same period in 2015. Buyers should be aware that, townwide, single-family homes priced under $4 million had the most number of offerings, with a total of 399 as of 9/30/16.

Overall sales of single-family homes townwide fell 5% year to date and the median sales price experienced an 8% decrease from last year. On the bright side, those homes which sold for less than $1 million witnessed an increase of 12% in units sold versus the same period last year. Overall, Cos Cob has outperformed all other sections of town, with 73 homes sold in the first three quarters of 2016 versus 57 same time period last year, an increase of 28%.

While many variables may be cited for the present market conditions, including the uncertainty about the results of the presidential election, pricing plays a large role in the successful sale of a home. Following pricing, the second most important factor in a successful home sale is the condition of a property; today’s buyer is looking for a mint condition home. In terms of these factors, as well as many others, it is essential that you have a collaborative relationship with an experienced real estate professional well versed in all the intricacies of this unique market. Sotheby’s International Realty agents are skilled professionals with local knowledge and a dedication to high-quality service for every client in every price range.

What differentiates Sotheby’s International Realty from our competitors is the ability to connect buyers and sellers globally. With a dedicated liaison stationed at the Sotheby’s Auction House and the realty corporate headquarters, the company is able to help unite buyers with the properties our network represents. Today, the Sotheby’s International Realty network boasts more than 19,000 sales associates, located in approximately 850 offices in 65 countries and territories, sharing referrals around the world.

In addition, Sotheby’s International Realty offers exclusive digital media partnerships, an internationally recognized online presence, a streamlined mobile site, customized eMarketing programs, and detailed reports for sellers. *The town of Greenwich is comprised of Greenwich, North and South of the Parkway, Cos Cob, Riverside and Old Greenwich.

FEATURED LISTINGS

NORTH COURT | Web ID: 0067353 | $20,000,000 Greenwich Brokerage | Helene Barre | 203.618.3123

AIKEN ROAD OASIS | Web ID: 0068192 | $12,995,000 Greenwich Brokerage | Fran Ehrlich | 203.203.3164

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.

sothebyshomes.com/0068274

TOWNWIDE Greenwich, the gateway to New England, is a terrific place to live and enjoy life. 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

SF

CONDO

2015

$2,497,748

$1,010,076

2016

$2,246,256

$848,653

% CHANGE

-10%

-16%

2015

$1,868,000

$725,000

2016

$1,724,501

$686,250

% CHANGE

-8%

-5%

2015

90%

93%

2016

88%

92%

% CHANGE

-2%

-1

INVENTORY

SOLD JAN-SEP 2015

SOLD JAN-SEP 2016

% CHANGE 2016 TO 2015

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

Up to $999,999

78

105

87

110

12%

5%

48

74

51

50

$1,000,000 - $1,999,999

187

36

186

16

-1%

-56%

134

15

130

22

$2,000,000 - $2,999,999

87

11

84

7

-3%

-36%

126

11

118

19

$3,000,000 - $3,999,999

54

3

44

2

-19%

-33%

89

4

100

11

$4,000,000 - $4,999,999

27

1

23

1

-15%

-

57

5

64

2

$5,000,000 - $7,499,999

34

-

22

-

-35%

-

75

0

85

0

$7,500,000 - $9,999,999

8

-

5

-

-38%

-

32

0

41

0

$10,000,000 & Above

5

-

4

-

-20%

-

53

0

47

0

480

156

455

136

-5%

-13%

614

109

636

104

TOTALS

LAST YEAR (9.30.2015)

THIS YEAR (9.30.2016)

3

sothebyshomes.com/0067772

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

SF

CONDO

2015

$2,958,695

$1,120,280

2016

$2,600,366

$894,829

% CHANGE

-12%

-20%

2015

$2,212,000

$890,000

2016

$2,020,000

$700,000

% CHANGE

-9%

-21%

2015

89%

93%

2016

86%

92%

% CHANGE

-3%

-1%

INVENTORY

SOLD JAN-SEP 2015

SOLD JAN-SEP 2016

% CHANGE 2016 TO 2015

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

Up to $999,999

40

70

37

80

-8%

14%

25

56

32

37

$1,000,000 - $1,999,999

74

33

79

12

7%

-64%

65

13

71

18

$2,000,000 - $2,999,999

43

10

49

6

14%

-40%

83

10

73

17

$3,000,000 - $3,999,999

34

3

26

2

-24%

-33%

59

4

73

10

$4,000,000 - $4,999,999

19

1

15

1

-21%

-

50

5

55

2

$5,000,000 - $7,499,999

28

-

20

-

-29%

-

58

0

65

-

$7,500,000 - $9,999,999

8

-

4

-

-50%

-

28

0

34

-

$10,000,000 & Above

4

-

3

-

-25%

-

45

0

43

-

250

117

233

101

-7%

-14%

413

88

446

84

TOTALS

4

LAST YEAR (9.30.2015)

THIS YEAR (9.30.2016)

sothebyshomes.com/greenwich

sothebyshomes.com/ 0067365

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. North of Parkway of Greenwich offers a truly unique locale, a pastoral haven less than 35 miles from Manhattan.

South of the Merritt Parkway, South of Parkway of 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 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

2015

$2,974,473

$3,491,754

2016

$3,073,923

$2,769,480

% CHANGE

3%

-21%

2015

$2,050,000 $2,800,000

2016

$2,200,000 $2,310,000

% CHANGE

7%

-18%%

2015

86%

89%

2016

84%

88%

% CHANGE

-3%

-2%

UNITS SOLD SOLD JAN-SEP 2015

SOLD JAN-SEP 2016

INVENTORY % CHANGE 2016 TO 2015

LAST YEAR (9.30.2015)

THIS YEAR (9.30.2016)

NORTH SF

SOUTH SF

NORTH SF

SOUTH SF

NORTH SF

SOUTH SF

NORTH SF

SOUTH SF

NORTH SF

SOUTH SF

Up to $999,999

4

7

4

8

0%

14%

4

4

1

6

$1,000,000 - $1,999,999

18

36

14

36

-22%

0%

23

21

23

27

$2,000,000 - $2,999,999

6

31

8

28

33%

-10%

19

46

20

46

$3,000,000 - $3,999,999

6

26

5

17

-17%

-35%

19

33

18

52

$4,000,000 - $4,999,999

3

13

2

12

-33%

-8%

13

30

13

35

$5,000,000 - $7,499,999

7

15

5

11

-29%

-27%

21

29

22

31

$7,500,000 - $9,999,999

2

5

1

1

-50%

-80%

14

10

16

12

$10,000,000 & Above

-

4

1

-

-

-100%

24

15

18

20

46

137

40

113

-13%

-18%

137

188

131

229

TOTALS

5

sothebyshomes.com/0068052

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

SF

CONDO

2015

$2,320,603

$649,500

2016

$2,234,836

$660,025

% CHANGE

-4%

2%

2015

$1,887,500

$649,500

2016

$1,757,000

$ 645,050

% CHANGE

-7%

-1%

2015

92%

98%

2016

86%

97%

% CHANGE

-6%

-1%

INVENTORY

SOLD JAN-SEP 2015

SOLD JAN-SEP 2016

% CHANGE 2016 TO 2015

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

Up to $999,999

15

2

12

4

-20%

100%

7

1

7

2

$1,000,000 - $1,999,999

35

-

36

-

3%

-

24

-

17

-

$2,000,000 - $2,999,999

23

-

13

-

-43%

-

16

-

15

-

$3,000,000 - $3,999,999

12

-

8

-

-33%

-

8

-

11

-

$4,000,000 - $4,999,999

6

-

5

-

-17%

-

3

-

7

-

$5,000,000 - $7,499,999

2

-

1

-

-50%

-

10

-

9

-

$7,500,000 - $9,999,999

-

-

1

-

-

-

2

-

4

-

$10,000,000 & Above

1

-

1

-

0%

-

7

-

3

-

94

2

77

4

-18%

100%

77

1

73

2

TOTALS

6

LAST YEAR (9.30.2015)

THIS YEAR (9.30.2016)

sothebyshomes.com/greenwich

sothebyshomes.com/0067950

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

SF

CONDO

2015

$2,069,294

$565,725

2016

$2,047,512

$550,194

% CHANGE

-1%

-3%

2015

$1,700,000

$467,500

2016

$1,755,000

$390,500

% CHANGE

3%

-16%

2015

95%

97%

2016

93%

96%

% CHANGE

-2%

-1%

INVENTORY

SOLD JAN-SEP 2015

SOLD JAN-SEP 2016

% CHANGE 2016 TO 2015

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

9

19

11

16

22%

-16%

5

6

3

3

$1,000,000 - $1,999,999

42

1

33

2

-21%

100%

13

-

16

1

$2,000,000 - $2,999,999

16

-

14

-

-13%

-

16

-

23

-

$3,000,000 - $3,999,999

6

-

10

-

67%

-

15

-

8

-

$4,000,000 - $4,999,999

2

-

3

-

50%

-

4

-

2

-

$5,000,000 - $7,499,999

4

-

1

-

-75%

-

7

-

10

-

$7,500,000 - $9,999,999

-

-

-

-

-

-

2

-

3

-

$10,000,000 & Above

-

-

-

-

-

-

1

-

1

-

79

20

72

18

-9%

-10%

63

6

66

4

Up to $999,999

TOTALS

LAST YEAR (9.30.2015)

THIS YEAR (9.30.2016)

7

sothebyshomes.com/0068033

COS COB Situated just east of Central Greenwich, Cos Cob reaches from thecharming village center out to one and two acre properties in quiet, country settings. The scenic Mianus River offers an extensive waterfront with marinas and rowing facilities. The Montgomery Pinetum and Mianus River Park offer over 200 acres of natural parkland for hiking and exploring.

AVERAGE SALES PRICE

MEDIAN SALES PRICE AVERAGE SOLD/LIST PRICE DIFFERENCE

UNITS SOLD

SF

CONDO

2015

$1,362,007

$816,806

2016

$1,324,085

$961,192

% CHANGE

-3%

18%

2015

$ 1,250,000

$649,900

2016

$1,175,000

$690,000

% CHANGE

-6%

6%

2015

94%

93%

2016

92%

93%

% CHANGE

-2%

-

INVENTORY

SOLD JAN-SEP 2015

SOLD JAN-SEP 2016

% CHANGE 2016 TO 2015

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

SF

CONDO

Up to $999,999

14

14

27

10

93%

-29%

11

11

9

8

$1,000,000 - $1,999,999

36

2

38

2

6%

0%

32

2

26

3

$2,000,000 - $2,999,999

5

1

8

1

60%

0%

11

1

7

2

$3,000,000 - $3,999,999

2

-

-

-

-100%

-

7

0

8

1

$4,000,000 - $4,999,999

-

-

-

-

-

-

0

0

0

0

$5,000,000 - $7,499,999

-

-

-

-

-

-

0

0

1

0

$7,500,000 - $9,999,999

-

-

-

-

-

-

0

0

0

0

$10,000,000 & Above

-

-

-

-

-

-

0

0

0

0

57

17

73

13

28%

-24%

61

14

51

14

TOTALS

8

LAST YEAR (9.30.2015)

THIS YEAR (9.30.2016)

sothebyshomes.com/greenwich

SIGNIFICANT SALES | 2016

HUSTED LANE Greenwich Brokerage | Leslie McElwreath | 917.539.3654

ROUND HILL COUNTRY ELEGANCE Greenwich Brokerage | Joseph Barbieri | 203.618.3112

GREENWICH COMPOUND Greenwich Brokerage | Amy Marisa Balducci | 203.618.3157

UNPARALLELED SELECTION OF WINES ALL YEAR ROUND. Sotheby’s Wine is more than an auctioneer, we are a global retailer with stores in New York and Hong Kong.

Visit us online at sothebyswine.com.

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ON THE MARKET

left to right from top to bottom:

METROPOLITAN MARKETS GREENWICH, CT | Web: 0068155 | $5,250,000 NEW YORK, NY | Web: 00111133 | $4,500,000 SAN FRANCISCO, CA | Web: 0088167 | $4,995,000 RESORT MARKETS MALIBU, CA | Web: 1300180 | $4,495,000 PALM BEACH, FL | Web: 0076898 | $4,985,000 NAPA VALLEY, CA | Web: 0244147 | $4,250,000 FOREIGN MARKETS SOUTH AFRICA | Web: LDKL3H | R 77 000 000 ZAR CHINA | Web: JVEBHK | ¥31,200,000 CNY ST. BARTHELEMY | Web: GKBQQ6 | 5.300.000 € EUR sothebysrealty.com