Q3 | 2017
Greenwich
Market Update
GREENWICH
Fabulous Country Lifestyle | Offered at $12,475,000 22hurlinghamdr.com
GREENWICH
Offered at $9,900,000 61lowercrossrd.com
a message from
Pamela Pagnani Brokerage Manager
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, 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. No matter the state of the market, Sotheby’s International Realty Greenwich brokerage is uniquely well positioned to service the needs of discriminating buyers, sellers and renters. While Sotheby’s International Realty has offices around the world in 69 countries and territories, here in Greenwich we serve all of Greenwich including Cos Cob, Riverside, Old Greenwich and Greater Greenwich. Sotheby’s International Realty Greenwich has approximately 95 affiliated agents who are seasoned experts in local real estate laws, zoning, building and rental codes. Our mission is simple: to pair exceptional properties with exceptional clients whileoffering superior, white glove service. We would be 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 (6/30/2017). 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.
Featured Properties We invite you to explore our exclusive offerings at S OTHEBYS H O ME S.C O M/ G R E E N WIC H
GREENWICH
Byram Shore Road | Offered at $5,995,000 byramshorerd.com
GREENWICH
Offered at $10,950,000 781LakeAve.com GREENWICH
Offered at $9,900,000 61lowercrossrd.com GREENWICH
Offered at $5,795,000 200oldmillrd.com GREENWICH
Offered at $5,495,000 8mwd.com *in order from left to right, top to bottom
sothebyshomes.com/greenwich
Market Snapshot
Q3 2017 Highlights
SFH Active Inventory
All Greenwich
Highlight: Total Units Sold SFH 450 400 350
Old Greenwich 300 250
Greenwich Riverside
200
Riverside
Greenwich
Old Greenwich Cos Cob
150 100 50
Total Single Family Home Units Sold 248 48 81 57
Greenwich Cos Cob Riverside Old Greenwich
Old Greenwich
Riverside
Cos Cob
0 *Price in Millions
Greenwich
Cos Cob
Active Single Family Home Inventory by Price Point & Area 198 225 138 66
Under $2 Million $2 - 4 Million $4 - 7.5 Million $7.5+ Million
Q3 Highlights
Highlight: Median Sale Price SFH
All Greenwich
Highlight: Vol by Price Points SFH
$2.5
$2.0
$7.5M and up <$2M
$1.5
$4 - $7.5M
$1.0
$0.5
$2 - $4M
Single Family Home Median Selling Price 1.9 $ 1.2 $ 1.8 $ 2.1
$
Greenwich Cos Cob Riverside Old Greenwich *Price in Millions
Old Greenwich
Riverside
Cos Cob
Greenwich
$0.0 *Price in Millions
<$2M
$2 - $4M
$4 - $7.5M
$7.5M and up
Single Family Home Total Volume by Price Point 27 % 33 % 27 % 13 %
Under $2 Million $2 - 4 Million $4 - 7.5 Million $7.5+ Million
Q3 Highlights
/ Greenwich Market Update
at a glance {Q3 | 2017}
greenwich
6
%
Change in Average Selling Price {2017 v 2016}
6
%
Change in Units Sold {2017 v 2016}
248 Units Sold
2.7m
$
Average Selling Price
Greenwich SINGLE FAMILY HOMES AND CONDOS
sfh
Average Median Discount Total Active Selling Price Selling Price Ratio Units Sold Inventory
{2017 v 2016}
Change
6%
-5%
1%
6%
-4%
2017
2,749,469
1,900,000
87%
248
426
2016
2,593,719
1,995,000
86%
234
446
2015
2,965,216
2,249,000
89%
249
413
2014
3,362,158
2,110,000
83%
253
428
Greenwich - SFH vs Condos Median
Median Sale Price | Single Family Homes vs Condos $2,500,000
GRW Condos
$2,000,000
GRW SFH
$1,500,000 $1,000,000 $500,000 $0
2014
2015
Single Family Homes
condos
2016
2017
Condos
Average Median Discount Total Active Selling Price Selling Price Ratio Units Sold Inventory
{2017 v 2016}
Change
3%
2%
2%
17%
17%
2017
$916,777
$712,500
94%
119
98
2016
$891,497
$699,500
92%
102
84
2015
$1,120,280
$890,000
93%
117
88
2014
$957,596
$715,000
92%
100
98
Greenwich
/ Greenwich Q3 Market Update
Average Selling Price | Total Units Sold $1.6
80
$1.4
70
$1.2
60
$1.0
50
$0.8
40
$0.6
30
$0.4
20
$0.2
10
$0.0
0
2014
Average Selling Price <$2M Q3 | 2017 $7.5 and up
2015 $2M-$4M ASP
2016
2017
Total Units Sold
$4M-$7.5M Under $2 Million
$2 - 4 Million
$4 - 7.5 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 {2017 v 2016}
Change
3%
6%
-3%
-34%
6%
2017
$1,363,581
$1,240,000
89%
48
54
2016
$1,324,085
$1,175,000
92%
73
51
2015
$1,362,007
$1,250,000
94%
57
61
2014
$1,281,125
$1,178,000
93%
51
40
Greenwich Q3 Market Update / Cos Cob
at a glance {Q3 | 2017}
cos cob
3
%
Change in Average Selling Price {2017 v 2016}
-34
%
Change in Units Sold {2017 v 2016}
48 Units Sold
1.4m
$
Average Selling Price
at a glance {Q3 | 2017}
riverside
5
%
Change in Average Selling Price {2017 v 2016}
5
%
Change in Units Sold {2017 v 2016}
81 Units Sold
2.4m
$
Average Selling Price
Average Selling Price | Total Units Sold $2.5
100 90
$2.0
80 70
$1.5
60 50
$1.0
40 30
$0.5
20 10
$0.0
0
2014
Average Selling Price <$2M Q3 | 2017 $7.5 and up
2015
2016
2017
$2M-$4M Under $2 Million ASP
$4M-$7.5M $2 - 4 Million $4 - 7.5 Million
Total Units Sold
$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 {2017 v 2016}
Change
5%
2%
3%
5%
3%
2017
$2,353,439
$1,785,000
89%
81
75
2016
$2,234,836
$1,757,000
86%
77
73
2015
$2,320,603
$1,887,500
92%
94
77
2014
$2,037,741
$1,887,500
93%
78
59
Riverside
/Greenwich Q3 Market Update
Average Selling Price | Total Units Sold $3.0
90 80
$2.5
70
$2.0
60 50
$1.5
40
$1.0
30 20
$0.5
10
$0.0
0
2014
Average<$2M Selling Price Q2 | 2017 $7.5 and up
2015 $2M-$4M
2016
2017
Total Units Sold $4M-$7.5M $4 - 7.5 Million Under $2 Million $2 - 4 Million
ASP
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 of 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 {2017 v 2016}
Change
28%
22%
-4%
-24%
9%
2017
$2,605,432
$2,125,000
89%
57
72
2016
$2,030,612
$1,735,000
93%
75
66
2015
$2,069,294
$1,700,000
95%
79
63
2014
$2,499,107
$2,000,000
91%
81
58
Greenwich Q3 Market Update / Old Greenwich
at a glance {Q3 | 2017}
old greenwich
28
%
Change in Average Selling Price {2017 v 2016}
-24
%
Change in Units Sold {2017 v 2016}
57 Units Sold
2.6m
$
Average Selling Price
Extraordinary Results We celebrate the notable success of our associates and clients
GREENWICH
Enchanting Estate In-Town Last asking $10,900,000
NORTH COURT | $22,000,000
4 of the top 6
NORTH COURT $22,000,000 Listed by Helene Barre
ONEIDA DRIVE $19,250,000 Listed by Shelly Tretter
MEADOWCROFT LANE $13,065,000 Listed by Leslie McElwreath
GROVE LANE $9,800,000
Listed by Renee Haggquist
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. Final selling prices included. *Sales data is as of 10.13.17. All property transaction data is provided by Greenwich Association of REALTORS® MLS.
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