Q2 | 2019
Greenwich
Market Update
GREENWICH
Offered at $8,975,000 khakumwood.com
a message from
Pamela Pagnani Brokerage Manager
During the second quarter of 2019, according to data from the Greenwich Multiple Listing Service, there were 152 single-family homes (SFH) sold town-wide which had a total sales volume exceeding $380M. Town-wide, there were 712 SFH listed at the end of the Q2 2019, of which, 250 were listed under $2M, 252 listed in the $2M - $4M range, 138 listed in the $4M - $7.5M range and 72 listed for over $7.5M. Of note is that 70% of SFH currently listed are under $4M and a third of SFH listed are under $2M. Greenwich Proper had the most active SFH inventory with 483 homes for sale followed by Riverside with 85. Other points of note about the Greenwich real estate market in Q2 2019 include: • In Greenwich Proper, the sold dollar volume exceeded Q2 2018 levels by approximately $26M, from $233.3M in Q2 2018 to $259.8M in Q2 2019, an increase of 11.4%. In addition, Greenwich Proper witnessed a 9.8% increase of SFH units sold, from 81 in Q2 2018 to 89 in Q2 2019. • The average sales price of a SFH in Old Greenwich increased by 7%, from $2.19M in Q2 2018 to $2.35M in Q2 2019. • All SFH trades in Cos Cob were under $2M. • Riverside traded 30 SFH units during the Q2 2019 which represented 20% of all SFH transactions town-wide. • There was an increase in average sales price town-wide from $2.466M in Q2 2018 to $2.505M Q2 2019. • The current condition of the Greenwich real estate market offers an unprecedented opportunity to realize homeownership in our town. Sotheby’s International Realty – Greenwich Brokerage is uniquely positioned to service the needs of discriminating buyers, sellers and renters. While Sotheby’s International Realty has offices around the world in 72 countries and territories, here in Greenwich, we serve all areas of town including Cos Cob, Riverside, Old Greenwich and Greenwich Proper, in addition to the surrounding towns. Sotheby’s International Realty – Greenwich has approximately 100 affiliated agents who are seasoned experts in local real estate laws, zoning, building and rental codes. We believe that we have the best agents in town, and most recently we brought on David Ogilvy and a number of agents that he worked with including Deborah Ference-Gray, Amanda Frey, Alice Hoyt, Martha Z. Jeffrey, Mary Jones, Catherine Stahl, Meri Thomas, and Harvey Thomas. Our mission is simple: to pair exceptional properties with exceptional clients while offering superior, white glove service. We are pleased to assist you in buying your dream house or selling your home in Greenwich. sothebyshomes.com/greenwich
GREENWICH BROKERAGE One
Pickwick Plaza | Greenwich, CT 06830 | 203.869.4343
All figures in this document are as reported by the Greenwich MLS (9/30/2018). 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. 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. Equal housing opportunity.
GREENWICH
Offered at $8,900,000 16doublingroad.com
Featured Properties We invite you to explore our exclusive offerings at
sothebyshomes.com/greenwich
GREENWICH
Offered at $12,795,000 19meadowdr.com GREENWICH
Offered at $4,950,000 9ridgeviewavenue.com GREENWICH
Offered at $4,500,000 68doubling.com GREENWICH
Offered at $4,00,000 2zaccheusmead.com *in order from left to right, top to bottom
sothebyshomes.com/greenwich
Market Snapshot Q2 2019
All Greenwich
450
Old Greenwich
400 350 300
Riverside
250
Greenwich
200 150
Cos Cob
100 50
Total Single Family Homes Units Sold 89 11 30 22
Greenwich Cos Cob Riverside Old Greenwich
Old Greenwich
Riverside
Cos Cob
Greenwich
0
Active Single Family Homes Inventory by Price Point & Area 250 252 138 72
Under $2 Million $2 - 4 Million $4 - 7.5 Million $7.5+ Million
Q2 Highlights All Greenwich
$2.5
$2.0
$7.5M and up $1.5
$1.0
<$2M
$4 - $7.5M
$0.5
$2 - $4M
Single Family Homes Median Selling Price 2.3 $ 1.4 $1.7 $2.1
$
Greenwich Cos Cob Riverside Old Greenwich
Old Greenwich
Riverside
Cos Cob
*Price in Millions
Greenwich
$0.0
Single Family Homes Total Volume by Price Point 25 % 39 % 23% 13%
Under $2 Million $2 - 4 Million $4 - 7.5 Million $7.5+ Million
*Price in Millions
Q1 Highlights
/ Greenwich Market Update
at a glance {Q2 | 2019}
greenwich proper
1
%
Change in Average Selling Price {2019 v 2018}
10
%
Change in Units Sold {2019 v 2018}
89 Units Sold
2.9m
$
Average Selling Price
Greenwich Proper SINGLE FAMILY HOMES AND CONDOS
Average Median Discount Total Active Selling Price Selling Price Ratio Units Sold Inventory
sfh {2019 v 2018}
Change
1%
2%
2%
10%
10%
2019
$2,919,410
$2,880,496
86%
89
483
2018
$2,880,496
$2,255,000
85%
81
440
2017
$2,498,693
$1,717,000
89%
87
433
2016
$2,572,173
$2,050,000
87%
85
473
2015
$2,817,547
$2,400,000
90%
99
397
Median Selling Price | Single Family Homes vs Condos
$3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0
2015
2016
Single Family Homes
condos
2017
2018
2019
Condos
Average Median Discount Total Active Selling Price Selling Price Ratio Units Sold Inventory
{2019 v 2018}
Change
-12%
-18%
5%
-33%
-8%
2019
$1,057,552
$780,000
95%
29
114
2018
$1,195,651
$950,000
91%
43
124
2017
$994,953
$645,000
94%
41
106
2016
$699,479
$625,000
93%
35
116
2015
$1,348,315
$1,160,000
93%
46
88 Greenwich
/ Greenwich Market Update
Average Selling Price | Total Units Sold 35
$1.8 $1.6
30
$1.4 25
$1.2 $1.0
20
$0.8
15
$0.6
10
$0.4 5
$0.2 $0.0
0
2015
2016
2017
2018
Average Selling Price
2019
Total Units Sold
Q2 | 2019
Under $2 Million
$2 - 4 Million
About
Cos Cob Situated just east of Central Greenwich, Cos Cob provides a peaceful village-like setting in a close-knit community. Cos Cob residential areas border the scenic Mianus River and extensive marinas are located on the upper Mianus Harbor. sothebyshomes.com/greenwich
Average Median Discount Total Active Selling Price Selling Price Ratio Units Sold Inventory {2019 v 2018}
Change
-22%
-2%
6.6%
-59%
23%
2019
$1,339,682
$1,475,000
94%
11
64
2018
$1,713,796
$1,500,000
88%
27
52
2017
$1,346,971
$1,350,000
90%
17
46
2016
$1,463,224
$1,310,000
96%
29
70
2015
$1,225,500
$1,200,000
97%
24
55
Greenwich Market Update / Cos Cob
at a glance {Q2 | 2019}
cos cob
-22
%
Change in Average Selling Price {2019 v 2018}
-59
%
Change in Units Sold {2019 v 2018}
11 Units Sold
1.3m
$
Average Selling Price
at a glance {Q2 | 2019}
riverside
-21
%
Change in Average Selling Price {2019 v 2018}
-14
%
Change in Units Sold {2019 v 2018}
30 Units Sold
1.8m
$
Average Selling Price
Average Selling Price | Total Units Sold 50
$3.0
45 $2.5
40 35
$2.0
30 25
$1.5
20 $1.0
15 10
$0.5
5 $0.0
0
2015
2016
2017
Average Selling Price Q2 | 2019
2018
2019
Total Units Sold Under $2 Million
$2 - 4 Million
$4 - 7.5 Million
$7.5+ Million
About
Riverside Riversideâ&#x20AC;&#x2122;s extensive shoreline on the river, harbor, and Long Island Sound contributes to its appeal as a desirable waterfront community with a unique and popular variety of properties for sale at any given time. Closely linked to its neighboring village of Old Greenwich, Riverside also has a Metro North commuter station â&#x20AC;&#x201C; less than one hour to Grand Central Station in New York City. sothebyshomes.com/greenwich
Average Median Discount Total Active Selling Price Selling Price Ratio Units Sold Inventory -21%
1%
2.3%
-14%
-17%
2019
$1,816,211
$1,762,500
91%
30
85
2018
$2,294,716
$1,750,000
89%
35
103
2017
$2,548,636
$2,000,000
90%
39
82
2016
$2,049,221
$1,690,000
88%
31
80
2015
$2,420,778
$2,181,250
95%
44
65
{2019 v 2018}
Riverside
/ Greenwich Market Update
Average Selling Price | Total Units Sold $2.5
45 40
$2.0
35 30
$1.5
25 20
$1.0
15 10
$0.5
5 0
$0.0
2015
2016
2017
2018
Average Selling Price
2019
Total Units Sold
Q2 | 2019
Under $2 Million
$2 - 4 Million
$4 - 7.5 Million
About
Old Greenwich The townâ&#x20AC;&#x2122;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 a short distance from scenic Greenwich Point with its fine town beach, park, and boating facilities. sothebyshomes.com/greenwich
Average Median Discount Total Active Selling Price Selling Price Ratio Units Sold Inventory {2019 v 2018}
Change
7%
8%
1.5%
-15%
-2%
2019
$2,350,614
$2,162,500
93%
22
80
2018
$2,189,173
$1,997,500
92%
26
82
2017
$2,161,200
$2,095,000
91%
20
77
2016
$2,192,800
$2,285,000
93%
25
74
2015
$2,122,003
$1,845,000
96%
40
71
Greenwich Market Update / Old Greenwich
at a glance {Q2 | 2019}
old greenwich
7
%
Change in Average Selling Price {2019 v 2018}
-15
%
Change in Units Sold {2019 v 2018]
22 Units Sold
2.4m
$
Average Selling Price
Extraordinary Results We celebrate the notable success of our associates and clients
GREENWICH
471 Lake Avenue Last asking $8,450,000
GREENWICH
190 Clapboard Ridge Road Last asking $6,790,000 GREENWICH
80 Midwood Drive Last asking $6,00,000 GREENWICH
777 Lake Avenue Last asking $5,395,000 GREENWICH
9 Keofferam Road Last asking $4,099,000 *in order from left to right, top to bottom
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GREENWICH
Offered at $38,500,000 | 21vistadr.com
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. 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.
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Offered at $6,499,000 266roundhillroad.com
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. 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.