Greenwich, CT | sothebyshomes.com/0067353
Greenwich Market Update Year End 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 (12/31/2016)
A MESSAGE FROM OUR MANAGER: Pam Pagnani This report provides information concerning the Greenwich real estate market for the period of January 1, 2016 through December 31, 2016 using data from the Greenwich Multiple Listing Service (GMLS). During this period, Greenwich saw an increase in the number of single-family homes sold priced between $1 million and $3 million; where in 2015, 150 single-family homes traded compared to 2016’s 163 homes sold. Old Greenwich witnessed a 100% increase in the number of homes sold between $3 and $5 million, from 7 to 14. In Riverside, single-family homes sold declined by 18% compared to prior year while active inventory increased by 9%. In Cos Cob, there was a 20% increase in the number of single-family homes sold. Condominiums in Cos Cob enjoyed both an increase in average and median sale price, 40% and 24% respectively. Sellers will be happy to know that the average and median sale price increased North of the Parkway, 4% and 8% respectively, despite the townwide decline in average and median sale price by 9% in both categories. Greenwich townwide* experienced a 5% decrease in the number of single-family homes traded, from 601 in 2015 to 572 in 2016. This decline was driven by fewer homes sold in the $2 million and $7.5 million range. Homes that sold below $2 million, accounted for 61% of the 572 homes that sold in 2016. The condo/coop activity townwide decreased by 15%, from 210 in 2015 to 179 in 2016. 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, the company is able to help unite buyers with the properties our network represents. Today, the Sotheby’s International Realty network boasts more than 20,000 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/0068165
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
$ 2,421,486
$ 982,956
2016
$ 2,201,237
$ 939,931
% CHANGE
-9%
-4%
2015
$ 1,856,250
$ 720,000
2016
$ 1,698,000
$ 700,000
% CHANGE
-9%
-3%
2015
90%
93%
2016
87%
93%
% CHANGE
-3%
-
INVENTORY
SOLD JAN-DEC 2015
SOLD JAN-DEC 2016
% CHANGE 2016 TO 2015
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
Up to $999,999
108
147
117
138
8%
-6%
30
66
33
49
$1,000,000 - $1,999,999
228
45
234
22
3%
-51%
85
15
81
25
$2,000,000 - $2,999,999
113
12
99
13
-12%
8%
81
7
72
15
$3,000,000 - $3,999,999
65
4
58
3
-11%
-25%
69
5
62
6
$4,000,000 - $4,999,999
33
2
29
3
-12%
50%
47
5
40
2
$5,000,000 - $7,499,999
39
-
25
-
-36%
-
64
0
73
0
$7,500,000 - $9,999,999
10
-
5
-
-50%
-
27
0
30
0
$10,000,000 & Above
5
-
5
-
0%
-
44
0
36
0
601
210
572
179
-5%
-15%
447
98
427
97
TOTALS
LAST YEAR (12.31.2015)
THIS YEAR (12.31.2016)
3
sothebyshomes.com/0068243
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
$ 2,821,384
$ 1,078,539
2016
$ 2,522,167
$ 992,654
% CHANGE
-11%
-8%
2015
$ 2,086,000 $ 816,500
2016
$ 1,900,000
$ 741,500
% CHANGE
-9%
-9%
2015
88%
93%
2016
86%
92%
% CHANGE
-3%
-1%
INVENTORY
SOLD JAN-DEC 2015
SOLD JAN-DEC 2016
% CHANGE 2016 TO 2015
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
Up to $999,999
57
101
54
101
-5%
0%
17
55
23
41
$1,000,000 - $1,999,999
96
41
104
17
8%
-59%
38
10
44
19
$2,000,000 - $2,999,999
54
11
59
10
9%
-9%
56
6
43
15
$3,000,000 - $3,999,999
43
4
35
3
-19%
-25%
45
5
44
6
$4,000,000 - $4,999,999
23
2
19
3
-17%
50%
43
5
32
2
$5,000,000 - $7,499,999
32
-
23
-
-28%
-
53
-
56
-
$7,500,000 - $9,999,999
10
-
4
-
-60%
-
24
-
24
-
$10,000,000 & Above
4
-
4
-
0%
-
41
-
34
-
319
159
302
134
-5%
-16%
317
81
300
83
TOTALS
4
LAST YEAR (12.31.2015)
THIS YEAR (12.31.2016)
sothebyshomes.com/greenwich
sothebyshomes.com/0068291
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
$2,834,464
$3,405,687
2016
$2,939,223
$2,713,869
% CHANGE
4%
-20%
SOLD JAN-DEC 2016
$2,043,000 $2,043,000 $2,200,000 $2,200,000
% CHANGE
8%
8%
2015
85%
89%
2016
81%
87%
% CHANGE
-5%
-2%
UNITS SOLD SOLD JAN-DEC 2015
2015 2016
INVENTORY % CHANGE 2016 TO 2015
LAST YEAR (12.31.2015)
THIS YEAR (12.31.2016)
NORTH SF
SOUTH SF
NORTH SF
SOUTH SF
NORTH SF
SOUTH SF
NORTH SF
SOUTH SF
NORTH SF
SOUTH SF
5
10
5
13
0%
30%
3
4
-
4
$1,000,000 - $1,999,999
25
43
18
47
-28%
9%
10
14
11
24
$2,000,000 - $2,999,999
10
37
9
34
-10%
-8%
12
32
10
26
$3,000,000 - $3,999,999
7
33
6
24
-14%
-27%
14
25
8
33
$4,000,000 - $4,999,999
5
15
4
14
-20%
-7%
12
26
9
20
$5,000,000 - $7,499,999
8
17
5
14
-38%
-18%
24
21
20
27
$7,500,000 - $9,999,999
2
6
1
1
-50%
-83%
11
10
11
9
$10,000,000 & Above
-
4
1
-
-
-100%
20
16
17
14
62
165
49
147
-21%
-11%
106
148
86
157
Up to $999,999
TOTALS
5
sothebyshomes.com/0068260
COS COB Situated just east of Central Greenwich, Cos Cob reaches from the charming 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
$1,365,294
$805,346
2016
$1,321,117
$1,126,000
% CHANGE
-3%
40%
2015
$ 1,250,000
$649,000
2016
$1,175,000
$805,000
% CHANGE
-6%
24%
2015
96%
92%
2016
92%
94%
% CHANGE
-5%
2%
INVENTORY
SOLD JAN-DEC 2015
SOLD JAN-DEC 2016
% CHANGE 2016 TO 2015
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
Up to $999,999
19
19
30
12
58%
-37%
2
10
5
4
$1,000,000 - $1,999,999
37
3
40
3
8%
0%
28
2
14
5
$2,000,000 - $2,999,999
8
1
9
3
13%
200%
5
1
5
-
$3,000,000 - $3,999,999
2
-
-
-
-100%
-
4
-
5
-
$4,000,000 - $4,999,999
-
-
-
-
-
-
-
-
-
-
$5,000,000 - $7,499,999
-
-
-
-
-
-
-
-
-
-
$7,500,000 - $9,999,999
-
-
-
-
-
-
-
-
-
-
$10,000,000 & Above
-
-
-
-
-
-
-
-
-
-
66
23
79
18
20%
-22%
39
13
29
9
TOTALS
6
LAST YEAR (12.31.2015)
THIS YEAR (12.31.2016)
sothebyshomes.com/greenwich
sothebyshomes.com/0068200
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
$2,275,811
$697,250
2016
$2,121,617
$697,820
% CHANGE
-7%
0%
2015
$1,903,500
$649,500
2016
$1,690,000
$ 675,100
% CHANGE
-11%
4%
2015
91%
99%
2016
87%
97%
% CHANGE
-5%
-2%
INVENTORY
SOLD JAN-DEC 2015
SOLD JAN-DEC 2016
% CHANGE 2016 TO 2015
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
Up to $999,999
18
4
17
5
-6%
25%
8
-
5
-
$1,000,000 - $1,999,999
43
-
44
-
2%
-
10
-
12
-
$2,000,000 - $2,999,999
30
-
14
-
-53%
-
9
-
10
-
$3,000,000 - $3,999,999
13
-
9
-
-31%
-
8
-
8
-
$4,000,000 - $4,999,999
6
-
6
-
0%
-
3
-
5
-
$5,000,000 - $7,499,999
3
-
1
-
-67%
-
8
-
8
-
$7,500,000 - $9,999,999
-
-
1
-
-
-
1
-
4
-
$10,000,000 & Above
1
-
1
-
0%
-
2
-
2
-
114
4
93
5
-18%
25%
49
-
54
-
TOTALS
LAST YEAR (12.31.2015)
THIS YEAR (12.31.2016)
7
sothebyshomes.com/0068329
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
$2,017,058
$567,542
2016
$1,997,289
$521,591
% CHANGE
-1%
-8%
2015
$1,685,000
$478,750
2016
$1,662,500
$374,500
% CHANGE
-1%
-22%
2015
93%
97%
2016
93%
96%
% CHANGE
0%
-1%
INVENTORY
SOLD JAN-DEC 2015
SOLD JAN-DEC 2016
% CHANGE 2016 TO 2015
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
SF
CONDO
Up to $999,999
14
23
16
20
14%
-13%
3
1
-
4
$1,000,000 - $1,999,999
52
1
46
2
-12%
100%
9
3
11
1
$2,000,000 - $2,999,999
21
-
17
-
-19%
-
11
-
14
-
$3,000,000 - $3,999,999
7
-
14
-
100%
-
12
-
5
-
$4,000,000 - $4,999,999
4
-
4
-
0%
-
1
-
3
-
$5,000,000 - $7,499,999
4
-
1
-
-75%
-
3
-
9
-
$7,500,000 - $9,999,999
-
-
-
-
-
-
2
-
2
-
$10,000,000 & Above
-
-
-
-
-
-
1
-
-
-
102
24
98
22
-4%
-8%
42
4
44
5
TOTALS
8
LAST YEAR (12.31.2015)
THIS YEAR (12.31.2016)
sothebyshomes.com/greenwich
SIGNIFICANT SALES | 2016
OLD ROUND HILL LANE ESTATE Greenwich Brokerage | Helene Barre | 203.550.0855
BIRCH LANE Greenwich Brokerage | Leslie McElwreath | 203.618.3165
GRACIOUS CENTER HALL COLONIAL Greenwich Brokerage | Krissy Blake | 203.618.3126
MASTERPIECES IN THE MAKING
TM
Collection available for purchase at Sotheby’s Diamonds salons and exclusive exhibitions worldwide. New York +1 212 894 1400 | London +44 20 7293 6430 | Hong Kong +852 2822 8179 | sothebysdiamonds.com SoTHEbY’S, INC. LICENSE No. 1216058. © SoTHEbY’S, INC. 2016
ON THE MARKET
left to right from top to bottom:
METROPOLITAN MARKETS NEW YORK, NY | Web: 0138486 | $5,250,000 GREENWICH, CT | Web: 0068267 | $5,300,000 SAN FRANCISCO, CA | Web: 0088189 | $5,695,000 RESORT MARKETS MONTECITO, CA | Web: 0114072 | $5,500,000 HAMPTONS, NY | Web: 0046575 | $5,500,000 NAPA VALLEY, CA | Web: 0244257 | $5,699,000 FOREIGN MARKETS BELGIUM | Web: HCGGW9 | 4.950.000 € GREECE | Web: SN3KDB | Price Upon Request SWITZERLAND | Web: YMDRPZ | 5’200’000 CHF sothebysrealty.com