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
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ON THE MARKET
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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