The Commercial Record - February 2016

FEBRUARY 2016

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REAL ESTATE & FINANCIAL NEWS FOR CONNECTICUT

THE

REAL ESTATE ISSUE

Bank Branches Get A Refresh For The Digital Age GE Move Is Telling, If Not Terrifying, Experts Say End-Of-Year Housing Numbers Show A Strong Buyer’s Market Sitting, Waiting: Tenants Needed To Fill Suburban Office Space

FEBRUARY 2016 | THE COMMERCIAL RECORD | 1

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inside The Commercial Record’s Real Estate Issue The fact is, whether they rent or own, no family or business can thrive without a property to call its own. In Connecticut, there’s plenty of property to go around, and as one of the Nutmeg State’s biggest businesses is preparing to up stakes, industry experts are thinking hard about how to jumpstart the real estate scene.

6

14

Branching Out As consumers take to tech options to manage their finances, bankers begin to rethink the traditional branch.

10 Space Available Massive office vacancies loom in the suburbs.

Renovations and new marketing strategies may be the key to filling buildings, developers say.

14 Relocation Means Reallocation What does the GE move really mean for Fairfield? Economists weigh in.

CLICK HERE TO SEE THIS WEEKS RECORDS Records Week Of 2/26 Records Week Of2/19 Records Week Of 2/812 Records Week Of 2/5

18 Real Estate Coach New tools oust the traditional real estate search sites, bringing customized analytics into the mix.

8

news roundup

12 state statistics

20 A Strong Finish

16 c-changes

At year’s end, home prices were down and inventory was up.

17 in person 22 top commercial transactions 24 trendlines

6

20

38 gossip report

FEBRUARY 2016 | THE COMMERCIAL RECORD | 3

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from the editor

THE REAL ISSUE IN REAL ESTATE W

elcome to the February issue of The Commercial Record! This month we take a look at everything real estate in the Nutmeg State – and it’s not all what you might expect.

We could have called this one “The GE Issue,” as the topic is much on the minds of developers and real estate agents alike. While agents predict the move of 200 top GE officials from Fairfield to Boston won’t drastically disrupt the county’s market – spread out as they are over several towns in the area – economists point out that it’s all part of a larger trend.

Connecticut’s housing market stuttered along in 2015, as prices dropped throughout the year and the number of homes sold climbed. It is one the most “moved-out-of” states in the nation, coming in at No. 4 in Business Insider’s “outflow” analysis for 2015; another 200 people, and potentially their families, leaving in 2016 will likely see it jump up the list.

What’s happening in Fairfield is happening all over the country. Suburban office parks are out; live-work-play is in. Long commutes in the car are out; short hops on public transit are in. Four-bedroom houses on corner lots with a picket fence are out; hip

downtown condos are in.

Boston has cannily positioned itself to capture the companies for which Millennials want to work. The Seaport District, rebranded as the “Innovation District” by the late Boston Mayor Thomas Menino, has exploded as a commercial hub. Developers, workers and residents alike were skeptical when Menino unveiled his plan to turn the backwater into a thriving neighborhood. Now the area is home to new high-rise headquarters for companies with worldwide brand recognition. Dozens of downtown condos are being built every day – most of them luxury units those Millennials likely can’t afford, but their bosses can.

The city’s aging infrastructure – to which a lot of lip-service is paid, but very few changes made – is a blight on an otherwise world-class city. But even an aging public transportation system is better than none.

On the commercial side, GE’s move opens up 526,000 square feet of office space – and it’s not the only about-to-be vacant corporate compound. Massive office complexes scat-

tered across the state are being repositioned in an attempt to lure businesses to, and keep them in, a state with a setup that caters to a workforce long since retired.

It’s all part of a pattern – young workers want to live close to where they work, and they want to live in vibrant, interesting, multicultural neighborhoods. They are mobile and unfettered, looking for locations with lots of opportunity, in terms of both employment and leisure.

Connecticut suffers from a number of true and difficult economic woes, but it also suffers from an image problem. Outsiders think of it as a stuffy state with depressed cities and far-flung suburbs where nothing much happens. It has the potential to be much more, though, if it can find someone like Menino – the man’s vision was sometimes faulty, but always lofty – and get to work on creating appealing, safe, innovative pockets in its cities.

The state needs to find its own modern identity and way forward, and there’s no time like the present. n

Cassidy Murphy Editorial Director Email: cmurphy@thewarrengroup.com

FEBRUARY 2016 | THE COMMERCIAL RECORD | 5

Branching Out

IN LINE WITH CONSUMER PREFERENCES, BANKERS RETHINK THE BRANCH Branches Still Necessary Despite Migration To Apps

Photos courtesy of Solidus

Newburyport 5 Cents Savings Bank in Portsmouth, New Hampshire.

BY LAURA ALIX | COMMERCIAL RECORD STAFF

A

nyone still declaring the death of the bank branch must not be paying much attention to Webster Bank. When Citibank announced its withdrawal from the Greater Boston market, the Waterbury-based Webster pounced, snapping up the 17 empty branches Citi left in its wake.

With more than $24 billion in assets, Webster wasn’t exactly hurting for resources to invest in tech, but its move to acquire those old Citi branches speaks volumes about the importance of the physical branch in an increasingly digital age.

“We’re not in the game of forcing [digital banking] or dictating how people interact with us, so we think that over time, basic transactional stuff certainly continues

to migrate digitally and out of the branch,” said Greg Jacobi, Webster’s director of distribution and customer experience. “But what we also see is, as people go more digital and are self-serving, they end up needing to have those bigger conversations and still want to connect with a banker.”

Webster is hardly unique in seeking a balance between the physical branch network and the suite of digital self-serve

6 | THE COMMERCIAL RECORD | FEBRUARY 2016

options. Customers have increasingly migrated toward online and mobile banking for day-to-day needs and as foot traffic to branches has fallen off, banks have looked to reshape the branch to meet those needs.

Bankers building new branches today tend less toward the traditional teller line and more toward high-tech, high-touch branches that maybe look a little bit more like an Apple store. The branch of the future is smaller, typically, and it’s not uncommon to see the tellers evolve into a universal banker, free-floating and assisted by an automatic cash recycler for more routine transactions.

Mark Charette, CEO of the Hartfordbased branch design firm Solidus, said he first had the chance to introduce some of these new elements of branch design

Salisbury Bank in Salisbury, Connecticut.

“

Salisbury Bank in Great Barrington, Massachusetts.

It’s not unlike what you see with Starbucks. Starbucks has their standalone stores, they have kiosks in the airport, they’re on the shelf at the local grocery store. … It’s about using varying distribution channels to serve your clients and banks are already moving in that direction.”

— Mark Charette, CEO, Solidus

about eight years ago, but those trends have really taken off in the past couple of years.

“Change is a big impediment,” he said.

“Bankers are a little bit more apprehensive about the impact of changing a branch and what that might do for their existing clients.”

But in spite of the industry’s characteristic resistance to change, he said this sort of branch redesign is typically received very well.

Charette likens the changes in the bank branch to a similar shift he sees happening in the retail world.

“It’s really all about varying distribution channels. Obviously, you want to be active in electronic banking, offering up apps on smartphones … but branches are part of that whole story. It’s not unlike what you see with Starbucks. Starbucks has their standalone stores, they have kiosks in the airport, they’re on the shelf at the local grocery store,” he said. “It’s about using varying distribution channels to serve your clients and banks are already moving in that direction.

Charette is not the only person to note that parallel between banking and retail, of course.

“The same evolution we’re seeing in the retailing world, with Amazon versus, say, Target, we’re seeing in the banking world. People still very much want both,” said Martin J. Geitz, president and CEO of Simsbury Bank. “In the case of the banking world, what people are looking for more than ever from their bank partners is the advice and knowledge and expertise that they can get face to face with somebody when they have a more complicated need.”

Simsbury Bank is currently in the process of making over a bank branch it acquired last year as part of its expansion plans into the West Hartford market. Geitz said the bank liked that market for its potential to capture deposit and mortgage business, and since West Hartford skews younger, the branch needed a refresh.

Geitz said the new location will occupy a smaller footprint and will incorporate many of those aforementioned new branching trends to better present Sims-

bury Bank as a modern and technologically up-to-date bank.

“It’s a challenge to banks big and small because the surveys we’ve seen – and I think our numbers are fairly consistent with what we’ve seen on the national averages – over the last 20 or 30 years, branch transactions are down 50 percent,” said Michael Rauh, president and CEO of Chelsea Groton Bank. “But at the same time, when you ask customers what’s important to them, having a branch that’s close to home or work is important.”

Rauh said that Chelsea Groton Bank has been engaged in its own internal dialogue about its future branch plans. He said that thinking about the branch’s relevance in the future raises questions about the reasons people still visit a branch when selfserve options are available.

He remarked, “As a bank, you’re faced with this dichotomy where many people use them less frequently than they did, if they use them at all, and yet they’re still important.” n Email: lalix@thewarrengroup.com

FEBRUARY 2016 | THE COMMERCIAL RECORD | 7

NEWS ROUNDUP STATE HOUSE REALTY PURCHASES HISTORIC HARTFORD BUILDING

LIBERTY BANK CELEBRATES GRAND REOPENING FOLLOWING MERGER

Hartford’s historic office building known as Six Central Row has sold.

The 15,114 square-foot space was built in 1850 and has been updated with modern finishes. The Intrigue Group, a global entertainment company, recently leased space in the building. The buyer, State House Realty, is upgrading the building to a class B building. Amodio & Co. Real Estate represented the buyer and CBRE represented the seller, Blair Central Row LLC.

VANTIS RE-LAUNCHES ANNUITY PRODUCT FOR RETIREES Vantis Life Insurance Co. in Windsor announced it is re-launching its multiyear guarantee annuity with special features for retirees.

Vantis’s “Freedom I” product was a best seller for the company in 2010.

The re-launched product now features a return of deposit guarantee during the initial five years of the annuity.

“This is a perfect product for those retirees concerned about potentially needing access to their deposit during the five year term of the annuity,” Craig Simms, senior vice president of marketing for Vantis Life, said in a statement. “Our Freedom I annuity offers the customer the best of all worlds: a guaranteed, competitive rate of return, compared to similar products, plus access to the principal during the five year term of the annuity.”

The minimum investment for the annuity is $5,000 and the maximum is $500,000.

Liberty Bank held a grand reopening celebration at its Naugatuck branch following the acquisition of Naugatuck Valley Financial Corp. and Naugatuck Valley Savings and Loan.

Over 100 people attended the event at 333 Church St. “We may be new in town, but we’re here to stay, and we’re committed to treating you like neighbors, not transactions.

I hope you’ll get that sense every time you visit a branch or contact us for assistance,” Liberty Bank President and CEO Chandler J. Howard said in a statement.

The bank also distributed $25,000 to local nonprofits at the event.

Upon the completion of the merger, Liberty Bank has approximately $4.5 billion in assets.

THE MOST VIEWED ARTICLES IN JANUARY • • • • • •

GE Picks Boston For New HQ New Haven Pizza Chain Owner Leases Space For Third Location Liberty Bank Closes On Acquisition of Naugatuck Valley Financial Corp.

NY Buyer Picks Up Two Hartford Apartment Properties BHHS Announces Top Sales Executives From December North Haven, Orange Properties Bought By Investors

8 | THE COMMERCIAL RECORD | FEBRUARY 2016

• GE Move A Blow For Connecticut, Boost For Boston Neighborhood • Coastal Construction Group Acquires Six Stamford Properties For $16.7M • New Britain Property Sells For $875K • 10.4K SF Building Goes For $950K

EVENTS KICKOFF EVENT CELEBRATES SOLAR POWER INITIATIVES

WOMEN IN BANKING CONFERENCE Connecticut Bankers Association April 22, 2016 Mystic Marriot Hotel, Groton, Connecticut Who should attend: Banking and lending professionals More information: http://bit.ly/1UtMaAy

ZILLOW: RENTS EXPECTED TO LEVEL OUT IN 2016

Gov. Dannel P. Malloy recently spoke at a Solar For All kickoff event at the New Haven Neighborhood Services facility.

Solar For All offers installation of solar power and energy efficiency measures, financed through the public-private partnership, to residential homeowners. The financing program combines a solar lease with an energy savings agreement.

Bryan Garcia, president and CEO of the Connecticut Green Bank, Tom Neyhart, CEO of PosiGen Solar and Energy Efficiency, Serena Neal-Sanjurjo, director of New Haven’s Livable City Initiative, and Annie Harper of New Haven’s Energy Task Force also attended the event.

Additionally, Connecticut Green Bank has partnered with PosiGen, a New Orleans solar company with its New England business headquartered in Bridgeport, and aims to give residents access to an affordable solar leasing structure that will deliver energy savings for families susceptible to rising energy costs.

Relief is in sight for cash-strapped renters, according to Zillow’s rental forecast.

Rent appreciation is expected to level off over the next year, slowing to an annual rate of 1.1 percent by December 2016, the forecast reports. The national Zillow Rent Index is projected to be $1,396 at the end of 2016, compared to $1,381 in December 2015.

Even with the anticipated national rental appreciation slowdown, rents will remain unaffordable in many of the major markets across the U.S., especially on the West Coast. Renters in San Francisco and Los Angeles can expect to spend 40 percent of their income on a rental payment, Zillow reports.

“Hot markets are still going to be hot in 2016, but rents won’t rise as quickly as they have been,” said Zillow Chief Economist Svenja Gudell said in a statement. “The slowdown in rental appreciation will provide some relief for renters who’ve been seeing their rents rise dramatically every single year for the past few years. However, the situation remains tough on the ground: rents are still rising and renters are struggling to keep up.”

The slowdown in rental appreciation indicates that supply of new multifamily homes is meeting the demand.

New housing supply is expanding in Atlanta, Denver, Portland, Seattle and other markets.

The Zillow Home Value Index rose 4 percent yearover-year in December 2015, to $183,500, according to the Zillow December Real Estate Market Reports.

NEW HAVEN PIZZA CHAIN OWNER LEASES SPACE FOR THIRD LOCATION A New Haven property was leased out recently, and is set to be converted to a pizza shop.

The 700-square-foot location, 118 Grand Ave., currently contains a Metro PCS store, neighbored by a Chinese food restaurant.

The tenant, Haci Top of Grand Avenue Pizza LLC, plans to open the new restaurant in April of 2016. Haci Top currently operates two other pizza restaurants in the Greater New Haven area known as Pizza Plus.

The landlord is Three Brothers LLC. Barry Stratton of The Geenty Group was the sole agent in the transaction.

FEBRUARY 2016 | THE COMMERCIAL RECORD | 9

Space Available

AFTER GE, THE DELUGE?

Massive Office Vacancies Loom In Suburbs

Stamford-based developer Building and Land Technology is repositioning 1 Elmcroft Road in its Harbor Point complex as “Silicon Harbor,” and hoping to attract tech tenants to the former Pitney Bowes corporate headquarters.

BY STEVE ADAMS | COMMERCIAL RECORD STAFF

I

t’s an increasingly familiar quandary in Connecticut commercial real estate circles: how to revive massive office complexes built during the heyday of the suburban migration that are lagging in demand as 21st-century workspaces?

General Electric’s 526,000-squarefoot Fairfield headquarters is the latest major office block soon to be emptied as the industrial conglomerate departs for Boston this year. In Simsbury, a New Jersey developer recently acquired The Hartford’s 172-acre office campus with redevelopment plans in mind, as the insurer moves employees to other local offices. And in Stamford, Building and

Land Technology (BLT) is marketing the former Pitney Bowes headquarters under the “Silicon Harbor” name as it contemplates a range of future uses for the 500,000-square-foot office building.

Ted Ferrarone, chief operating officer for Stamford-based BLT, said recent leasing activity confirms BLT’s strategy of creating the sort of lively 24/7 environment that is favored by younger workers

10 | THE COMMERCIAL RECORD | FEBRUARY 2016

and the employers that recruit them.

“It’s definitely real,” Ferrarone said.

“Tenants are consolidating out of traditional suburban offices and they’re moving to in-fill mixed-use destinations.

They’re putting a lot more people in the floor space than a traditional office and they’re using the amenities around the buildings.”

BLT hopes to build on the momentum from its surrounding Harbor Point complex overlooking Long Island Sound. The completion of 2,360 luxury apartments in nine buildings has generated foot traffic to support 30 shops and restaurants. And the five-building, 872,000-square-foot office component

in the remainder of the complex hit 100 percent occupancy in late 2015 with the signing of several leases, including MC Credit Partners and Waypoint Residential. Hedge fund giant Bridgewater Assoc., after abandoning plans for an 850,000-square-foot headquarters on a nearby parcel, leased 137,000 square feet of temporary space at Harbor Point.

“It has the kind of caché that tenants today are really interested in,” said Michael Siegel, an executive managing director for Colliers International in Stamford. “They want to have a labor pool in place, which they have with the residential. They want social options which clearly there are with many restaurants and beer gardens. From a tenant demand perspective, they are going to do well.”

Financial companies dominate the high-end office space in Fairfield County, but vacancy rates have lingered near 20 percent since the recession. During 2015, office tenants leased 3.2 million square feet of space, but positive absorption totaled just 210,000 square feet, according to CBRE’s Marketview Snapshot.

The availability rate was 19.9 percent at year’s end, just a shade below the 20.2 percent at the end of 2011.

For the former Pitney Bowes space, BLT is seeking a different industry demographic. By rebranding 1 Elmcroft Road as “Silicon Harbor,” it’s acknowledging the need to find tenant demand beyond the traditional money manager base.

The first step in the transformation took place in late fall, when BLT moved its own headquarters and 75 employees into the building. It’s exploring a multitenant leasing strategy. Along with office and tech incubator space, options include a hotel, residential units and college classrooms, Ferrarone said.

“We’re going to do a pretty comprehensive renovation,” he said. “For the first tenant that gets in here, we can customize a lot.”

Robert Caruso, a senior managing director for CBRE, said the mix of commercial and residential development at

Financial companies dominate the high-end office space in Fairfield County, but vacancy rates have lingered near 20 percent since the recession.

Harbor Point has finally reached a “critical mass.”

“You’re now at a point where it can support the retail,” Caruso said. “It was a little bit of a chicken-and-egg thing without a certain density of residences. Now with 2,000 new apartments, you’re getting more vibrancy down there.”

More Big Vacancies Looming In Fairfield, the looming departure of its largest corporate presence has attracted interest from at least one developer.

Less than a week after GE announced it would vacate its Easton Turnpike headquarters after four decades, Fairfieldbased Kleben Properties announced that it is interested in redeveloping the property as a tech center with an “educational component.”

“Our goal is to provide for uplift to Fairfield in a major way with employment and great opportunities to hose with a technological background and that will radiate throughout the entire area,” Chairman Albert Kleban said in a statement. Kleban is the town’s secondlargest taxpayer through its ownership

of various office and retail properties, including the Brick Walk shopping center in downtown Fairfield.

CBRE is representing GE on its corporate real estate decisions. Caruso declined to comment on the company’s plans.

Filling the massive GE complex will be an uphill battle, Colliers’ Siegel predicted.

“Do (corporations) want to be in a remote location in a building that’s going to need significant infrastructure repositioning? I think it’s going to be a very tough assignment,” he said.

In Simsbury, town officials acknowledged the tepid demand for office space last year when they drew up a new mixed-use zoning including multifamily housing and retail space to encourage redevelopment of The Hartford’s office campus. In December, Short Hills, New Jersey-based developer Silverman Group acquired the 172-acre parcel and its 638,000-square-foot office complex for $8.5 million. n Email: sadams@thewarrengroup.com

FEBRUARY 2016 | THE COMMERCIAL RECORD | 11

STATE STATISTICS 10-year Single-Family Sales More than $1 Million

Top 5 Credit Unions Market Share: All Mortgages

3,000 American Eagle FCU | 2015 Rank: 1 | 2014 Rank:1

NUMBER OF SALES

2,400

20.63%

1,800

17.59%

Charter Oak Fed Cr Un | 2015 Rank: 2 | 2014 Rank: 2

1,200 12.78%

600 13.38%

0

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 *Statistics include sales January-December - All Years Source: The Warren Group

Sikorsky Fncl CU Inc | 2015 Rank: 3 | 2014 Rank: 4

6.92%

Condo Sales by Price Range 6.06%

10,000 $700K+

9,000

$500k-$699k $400k-$499k $300k-$399k

8,000

$150k-$299k

NUMBER OF SALES

Navy FCU | 2015 Rank: 4 | 2014 Rank: 5

$10K-$149k

7,000 6,000

6.04%

4.45%

5,000

CT State Emp FCU | 2015 Rank: 5 | 2014 Rank: 3 4,000

5.84%

3,000 2,000

.61%

1,000 0

1990

1995

2000

2005

2010

2015

*Statistics include sales January-December- All Years Source: The Warren Group

12 | THE COMMERCIAL RECORD | FEBRUARY 2016 2016

2015

2014

*2015 MarketShare percent (of Credit Union Lenders only) thru December 2015 *2014 MarketShare percent (of Credit Union Lenders only) thru December 2014

Top 5 Lenders by Market Share Purchase Mortgages

10-Year Condo Sales 18,000 16,200

Norcom Mortgage | 2015 Rank: 1 | 2014 Rank: 3

14,400

3.01%

William Raveis Mortgage Co | 2015 Rank: 2 | 2014 Rank: 10

3.23%

NUMBER OF SALES

4.44%

12,600 10,800 9,000 7,200 5,400 3,600

1.88%

Webster Bank

1,800 0

| 2015 Rank: 3 | 2014 Rank: 2

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 *Statistics include sales January-December - All Years Source: The Warren Group

3.03%

Multifamily Home Sales 4.33%

4,000

Village Mortgage Co | 2015 Rank: 4 | 2014 Rank: 36

2.63%

2-Family

3-Family

.94% United Bank | 2015 Rank: 5 | 2014 Rank: 130

2.42%

NUMBER OF SALES

3,200

2,400

1,600

800

0%

2015

2014

*MarketShare percent and Rank statistics includes loans thru December for both 2014 & 2015

0

05 06 07 08 09 10 11 12 13 14 15 *Statistics include median prices January-December - All Years Source: The Warren Group

FEBRUARY 2016 | THE COMMERCIAL RECORD | 13

Relocation Means Reallocation

GE’S MOVE TO BOSTON COULD BE MIXED BAG FOR FAIRFIELD Economists Call It Part Of A Growing Trend

BY JIM MORRISON | COMMERCIAL RECORD STAFF

G

eneral Electric’s announcement last month that after 42 years, it will be selling its corporate headquarters in Fairfield and moving to Boston by 2018, made a big splash in the news – but economists say the move won’t rend the fabric of Fairfield County.

GE announced it plans to sell its 68-acre campus, which is assessed at $76.5 million

and pays about $1.9 million in property taxes to the town, and represents about

14 | THE COMMERCIAL RECORD | FEBRUARY 2016

0.7 percent of the total taxable grand list.

The company plans to relocate 200 of its 800 Connecticut employees to Boston; the remainder will be relocated in-state.

The town of Fairfield set up a website to answer questions about the move.

Al Kleban, chairman of commercial real estate development and management firm Kleban Properties, announced in January he is interested in buying the property from GE and plans to develop it into a re-

“

GE is taking 200 of the best jobs out of state, which will make it harder for us to recover. It will create a structural problem in the state budget. They’re going to have to either raise taxes or cut spending. High income spending has a bigger multiplier effect and these people are not going to be replaced with people with similar incomes.” — Prof. John Glasscock, director, UConn Center for Real Estate

gional technology hub with an educational component.

In a letter on the website, Fairfield’s first selectman Mike Tetreau wrote: “The 68-acre Fairfield campus was built for more than 800 employees. The longterm effect on the local economy could be positive, should a company with more employees occupy the site.”

Linda D’Amato, vice president of sales in William Raveis’ Fairfield office, said that moves like this frighten a lot of people, but she doesn’t see it as a negative and doesn’t think it will have a negative impact on the real estate market.

“From what I can see, our office can only count four GE executives who live in the town of Fairfield,” D’Amato said. “They really live all over Fairfield County and New Haven County. Some of them may decide they don’t want to uproot their families and will stay put.”

D’Amato said there is little developable land in town and the GE site is considered prime real estate that has long been underutilized. She said a plan like Kleban’s could net the town a lot more in property taxes than it currently receives.

Part Of A Larger Trend Professor John Glascock, director of the University of Connecticut’s Center for Real Estate and Urban Economics, said that demand for high-end real estate in and around Fairfield may be dampened when those 200 executives pull up stakes – and that will likely spill over into the lower price range. However, Glascock expects those markets will recover over the next several years.

“This is a labor market problem,” Glascock said. “Connecticut got hit hard in the recession and we were virtually the last state to recover in terms of total jobs in the state, which we did just a few months ago.”

The problem is that the state has not recovered what Glascock calls the “high human capital” jobs that pay salaries over $100,000 per year. Most of the jobs that are being created in the state pay in the $30,000 to $60,000 per year range, he noted.

“Now GE announced they’re taking 200 of the best jobs out of state, which will make it harder for us to recover,” he said. “It will create a structural problem in the state budget. They’re going to have to either raise taxes or cut spending. High income spending has a bigger multiplier effect, and these people are not going to be replaced with people with similar incomes.”

Glascock said he thinks workers in the high human capital group will end up clustering in a few big, diverse, core cities with multiple industries, with great suburbs and good transportation.

“These core cities are going to be the winners in the next 20 to 30 years,” he said.

The move is part of a larger trend. High human capital earners increasingly want to work in cities where it’s relatively easy for them and their high human capital spouses to get high-paying jobs. They want nice places to live near work and nice suburbs nearby when they have families. Employers understand this and are positioning themselves in those cities in order to attract top talent.

“If that’s coming, other high human capital firms will face the same pressure,” Glascock said. “Hartford has that same problem. Will they likely lose high human capital jobs over time? I think the answer is yes.”

It’s a statewide issue. Connecticut used to be a high human capital state and still is in some industries, but there aren’t enough amenities in the state to keep high human capital couples there.

“The big firms in Hartford have been slowly reducing their workforce,” Glascock said. “The middle level jobs in those insur-

ance firms are moving to Louisville and Indianapolis. It’s going to happen more over the next 10 years.

Glascock said Connecticut is not alone; New Jersey is facing the same problem.

“The way to win is to be a better suburb to New York,” Glascock said.

Why Boston?

Professor Albert Saiz, PhD, is the director of the Massachusetts Institute of Technology’s Center for Real Estate in Cambridge, just across the Charles River from GE’s future new headquarters. He said this particular move won’t have a terrific impact on Fairfield or Boston, where 600 employees from across the country will join the 200 from Connecticut. It’s just part of the trend of companies moving to cities like San Francisco, Seattle, Portland, Austin, San Diego, Chicago and New York City.

Saiz said now more than ever before, the presence of quality educational institutions is a very strong predictor of employment growth.

“People used to move to cities because that’s where the manufacturing jobs were,” Saiz said. “That’s what happened to Detroit between 1900 and 1960. Then, most of those jobs got relocated to China. The Boston-area strategy is more resilient. We’re in a period where talent and education is more important.”

Is Boston’s attractiveness an accident? Or was it planned?

“It’s a combination of policy and historical advantages,” Saiz said. In addition to educational institutions, it has coastal status, historical features, the presence of parks and amenities, good public schools – deliberate policy choices that focus on livability and green cultural amenities.”

Fairfield’s GE FAQ page can be found here: www.fairfieldct.org/ge. n Email: jmorrison@thewarrengroup.com

FEBRUARY 2016 | THE COMMERCIAL RECORD | 15

C-CHANGES IN CONNECTICUT’S EXECUTIVE SUITES

NRT residential real estate brokerage, the parent company of Coldwell Banker Residential Brokerage, recently announced that Joseph Valvano has been promoted to president of Coldwell Banker in Connecticut and Westchester County, New York. Valvano is replacing Cathleen Smith, who has announced her retirement later this year. In his new role, Valvano will lead the company’s sales operations and business development, and oversee the daily operations of its 51 real estate offices and more than 2,200 affiliated sales associates and employees throughout his coverage region. Valvano most recently worked as the managing broker of the Greenwich and Old Greenwich offices of Coldwell Banker. n

CBRE Group’s Westchester/Fairfield County office has promoted Kevin J. McCarthy to first vice president. McCarthy joined CBRE in 2007 as a senior associate, and was promoted to vice president in 2013. “Kevin’s promotion is well-deserved, as evidenced by the impressive list of assignments that he has successfully completed. He represents the best that CBRE has to offer, serving clients throughout Fairfield and Westchester counties, and we’re thrilled to see him advance in his career with such veracity,” Robert Caruso, senior managing director of CBRE’s Westchester/Fairfield County operations, said in a statement. “We know that we’ll continue to see a lot from him in the future.”

n

Chelsea Groton Bank has promoted Retail Lending Operations Manager Rachel Carlson and Human Resources Manager Tamela Higgins to vice president. Carlson joined the bank in 2003, and has since held various roles in the loan servicing and loan processing departments. Higgins joined the bank in 2012 with over 25 years of experience in human resources, and also n serves on the Chamber of Commerce of Eastern Connecticut Education Council.

Nanette Pastore, senior vice president and managing director at Pearce Real Estate, has been elected treasurer to the board of directors for the New Haven Middlesex Association of Realtors for 2016.

Pastore currently serves on the executive committee for the Quinnipiac Chamber of Commerce, is a member of the Shoreline Chamber of Commerce and is a state board of director for the Connecticut Association of Realtors.

n

AWARDS & ACCOLADES

BHHS New England Properties has announced the top sales executives in the Norwalk office. In December, Jane Walters was recognized as the top listing agent and Maher-Drury & Assoc. received the top selling award. “These sales executives have achieved tremendous success for their clients,” Candace Adams, BHHS New England Properties’ president and CEO, said in a statement. “We are fortunate to have such a high caliber of Realtors who exemplify our vision of providing the best service available.” n

16 | THE COMMERCIAL RECORD | FEBRUARY 2016

IN PERSON A Commercial Record online exclusive, the In Person features in-depth interviews with top talent in finance and real estate, from CEOs to nonprofit leaders, entrepreneurs to industry veterans. Excerpts from these interviews appear in the print version of The Commercial Record; to see the complete stories, please visit www.commercialrecord.com.

WINFIELD DAVIS, EXECUTIVE DIRECTOR, NEW HAVEN TOWN GREEN DISTRICT CHRIS ORTWEIN, DIRECTOR OF RETAIL SQUARE FOOTAGE, NEW HAVEN TOWN GREEN DISTRICT Bringing foot traffic to downtown New Haven to support local businesses is central to the New Haven Town Green District’s mission. The business improvement district is supported by a surtax on 300 properties in the downtown area.

What were some of the highlights of new business activity in 2015?

Ortwein: We had 13 businesses open in the second quarter of 2015. We’re starting to see people open multiple businesses, which I had not seen in my first three years here.

Do you see a generational change of attitude toward downtown shopping versus suburban malls and is the district benefiting from that?

Davis: A lot of the people are more concerned with knowing who they’re buying from and trying to support the local economy. That is a much bigger deal to Millennials than other generations. We’re seeing that price is not the only determining factor. New Haven’s small business community comprises 78 percent that are independent, which I believe is higher than the national average. n

ANNAMARIE BOCCUZZI, VICE PRESIDENT, ESTATE AND TRUST OFFICER, FIRST COUNTY ADVISORS AnnaMarie Boccuzzi got her feet wet in the financial services world as a financial analyst at Citicorp.

What challenges do your clients face that are unique to the generational and demographic trends we see today, and how do you help them navigate those?

I think it takes kids longer to launch, certainly, than 30 years ago. I sort of feel like 30 or 40 years ago, you had more of a plan: you go to high school, graduate and then work or go to college.

I think it’s taking them a lot longer to launch, to get their careers in order, and I know kids who are taking a year sabbatical after college. While that’s a wonderful experience, financially, the longer that you don’t contribute to a 401(k) plan and the longer you don’t make money … that’s something for them to consider. n

CHARLES SCOTT SR., OWNER, TRI-STATE REALTY Charles Scott Sr. began selling homes the same year New England Patriots wide receiver Danny Amendola was born. Two years later, he opened Tri-State Realty – where his son and daughter now both work – and he’s never looked back.

How did you get into real estate?

I’m also an insurance broker. I started out in insurance. As an insurance broker, I was in many households selling insurance. I started in 1969, working for Nationwide Insurance. I was familiar with the home-buying process and I knew a lot of people throughout the region.

How has technology changed the business?

It’s changed it for the better in many senses. You have a much more informed consumer today. Years ago people bought homes with an owner’s disclosure and that was about it. Today, if a buyer takes their time, they can find out much more information and they’re more relaxed. And it also forces agents to be more knowledgeable. n

JOHN SIMONE, PRESIDENT & CEO, CONNECTICUT MAIN STREET CENTER

buildings back to life.

John Simone helps Connecticut communities reawaken faded downtowns through programs that support development of mixed-use and residential properties.

What are some of the takeaways from that program about the keys to successful downtown development?

We need to discover and support urban pioneer developers. Most of these buildings are owned by a family that owns a three-story building with the first floor that has their business and the upper floors are empty or used for storage. Their business is a hardware store, for example, but they haven’t got a clue how to develop or finance a mixed-use development program. Small deals need easy-to-cook “lasagna” financing recipes. They require so many layers of financing it gets very complicated. The last one is getting the community to realize that it takes a village to bring old n FEBRUARY 2016 | THE COMMERCIAL RECORD | 17

Real Estate Coach

BED, BATH AND PRICE IS DEAD New Tools To Pinpoint Best Home Options Disrupt The Usual Search Suspects

18 | THE COMMERCIAL RECORD | FEBRUARY 2016

BY BERNICE ROSS | SPECIAL TO THE COMMERCIAL RECORD

M

ove over Realtor.com, Trulia and Zillow with your old-fashioned data search tools that rely primarily on bedroom, bath and price. Your days on top of the real estate search heap are numbered. Analytics searches that evaluates lifestyle, affordability and commute time is the new kid on the block that’s about to make finding the right home for your buyers a whole lot easier..

home insurance if you live in a flood plain or in a hillside area that requires flood or California Fair Plan insurance.

In our case, when we built our last home we thought the subdivision had natural gas service, but it had piped-in propane instead. Propane is three times more expensive than natural gas; this translated into a $750 heating bill rather than $250.

Commute Time How many hours have you spent in the last year showing buyers house after house, but nothing seems to be quite right? This is especially difficult in large metropolitan BERNICE ROSS areas where relocating buyers want to see everything or have their hearts set on a certain school district they can’t afford.

Now imagine what it would be like if you could pinpoint the top four or five houses in your entire market area that are the best possible fit for your buyers? Data analytics search promises to let you do exactly that.

Data Companies vs. Analytics Companies Krishna Mayala, the founder and CEO of TLCEngine.com, described data search (which includes brokerage, MLS, Realtor. com, Trulia and Zillow) as being part of the dreaming stage of homeownership.

The buyer sets up their initial search by bedroom, bath, price and location. In large cities, the search can generate hundreds of options. The question is, which option is the right option?

In the past, answering that question meant going to a Realtor and hoping that he or she could sort out the best choices.

But even the most knowledgeable and talented Realtor cannot objectively sort out which combination of lifestyle, affordability and commute time will provide the buyer with the best possible lifestyle option. Making this decision requires more than just sorting the data – it requires analyzing and evaluating thousands of pieces of data.

Apps such as Inrix and Waze can help clients assess commute times as well as identifying the best possible routes based upon current traffic conditions.

Housefax.com can help your buyers determine whether that charming 1930s Spanish style bungalow is money pit in disguise by answering such questions as: • Has the house had fire, flood, earthquake or a mold claim?

• Have there been any other insurance incidents on the property?

• What natural hazards exist in the area?

• Has the house (or neighboring house) ever been a meth lab?

• Approximately how much will the new owner pay in utilities?

While these tools are helpful, they are only pieces of the puzzle. Data analytics seeks to pull all these pieces together and then identify the four or five best possible choices for the buyer. The goal is for the buyer’s search to be able to answer such questions as: “Is it more affordable to buy that smaller, but older, property in town, or is it better to commute and get a larger, newer home in the suburbs? What are the tradeoffs?”

“What’s the difference in cost for an all electric home versus one that has natural gas?”

“Is there another equally good school district that has the same type of neighborhood and lifestyle, but that I can also afford?”

Price vs. Affordability Most purchase decisions focus almost exclusively on price without factoring in other costs associated with homeownership. For example, if you live in Los Angeles, you will pay much more for your

While apps can help quantify commute time, they lack the ability to determine which locations would be best if, for example, one spouse wanted to commute no more than 30 minutes and the other no more than 20 minutes. Data analytics searches identify which properties meet these criteria as well as assessing the needs of both parties together.

It also can consider the cost of having one car rather than two if one of the options allows one party to walk, bike or take public transit to work. Consequently, a more centrally located, higher-priced home may actually be a more affordable choice than a more distant lower-priced home once the commuting data is factored in.

Lifestyle Seven years ago Onboard Informatics launched Spatial Match, a lifestyle search engine. The tool was designed to help consumers search for neighborhoods or communities based upon demographics, education, schools, the right coffee shop, places of worship, etc.

HomeJunction.com is another lifestyle search engine that has evolved into a robust application that provides this information for agents and brokers, as well as supplying enterprise solutions. It also provides home values, local content and hyperlocal lifestyle data.

Ultimately, analytics search promises to reshape the buyer search experience as we know it. As Mayala observes, “You dream at the data search sites, but you will make an actionable decision based upon the information you acquire from an analytics search engine like TLCEngine.com.” n Bernice Ross, CEO of RealEstateCoach.com, is a national speaker, trainer and author. Email: Bernice@RealEstateCoach.com.

FEBRUARY 2016 | THE COMMERCIAL RECORD | 19

A Strong Finish

YEAR WRAPS UP WITH NUMBERS UP AND PRICES DOWN highest median single-family home price in all the counties year to date. The lowest median sale price was in Windham, $166,500 for the year.

Condos A Similar Story

I

t’s a great time to buy a house in Connecticut, but not so great if you’re trying to sell one. Despite months of yearover-year decreases in the median sale price, the Nutmeg State closed the year in a strong position for the upcoming spring market.

With the exception of January and May, every month in 2015 saw monthover-month gains in the number of homes sold and a drop in the median sale price of a single-family home statewide, according to The Warren Group, publisher of The Commercial Record.

In December, the number of sales was up nearly 18 percent over December 2014, while the sale price dropped 2 percent.

For the year, 29,986 homes were sold in the state, an increase of almost 17 percent over 2014; the median sale price was $246,000 at year-end, a drop of only 2 percent from 2014.

At the county level only Windham reversed the trend, finishing the year with a 4.13 percent increase in the median sales

price and almost an 11 percent increase in the number of sales, although it was also the county with the smallest increase in number of homes sold. Windham’s windfall is likely a result of the county’s proximity to Massachusetts’ more robust (and expensive) market, as well as its location nearer to Boston and Providence.

New Haven County had the highest percentage increase in number of homes sold at 20.15 percent, though not the highest total number – that honor went to Fairfield County with 7,809 singlefamily homes sold in 2015, an increase of nearly 15 percent. Fairfield also saw one of the largest drops in value, down to $455,000, a 4.21 percent drop from 2014 – though that figure is also the

20 | THE COMMERCIAL RECORD | FEBRUARY 2016

The same general pattern held for condominium sales in the state, which ended the year with a median sale price of $163,000, down 3.26 percent from 2014, and 7,886 total sales, up 13.29 percent year-over year.

Middlesex was the county winner for condo sales, ending the year up nearly 21 percent in number of sales and just over 3 percent in median sale price. Windham was the only county with negative sales growth for the year, down 1.32 percent, and saw an increase in condo median sale price of just 1.18 percent. Tolland took the biggest hit overall, with sales growth of 6 percent and the biggest loss in value, dropping 16.15 percent yearover-year.

Litchfield County saw the biggest percentage increase in number of sales at just over 29 percent, but also had a corresponding drop in median sale price of more than 13 percent.

The highest median sale price for condos for the year was in Fairfield at $265,000; Litchfield had the lowest at $108,250.

Overall it’s good news for the spring market, already heading towards heating up in chilly February. Barring a winter like last year’s, when spring didn’t truly arrive until about June, inventory should be good and demand high. There is likely to be too much inventory in some locations and reduced demand in others, but overall the real estate market in Connecticut is fairly healthy. n For more information about The Warren Group’s real estate market data and analysis, contact Malee Nuesse, director of information solution sales, at mnuesse@thewarrengroup.com.

2016 Women In Banking Conference

Presented By The Connecticut Bankers Association

CONTROLLING YOUR DESTINY

APRIL 21 - 22, 2016 | MYSTIC MARRIOTT HOTEL & SPA, GROTON, CT. Visit http://bit.ly/1UtMaAy for more information and to register today!

We are pleased to announce the second annual Women In Banking Conference. This exciting event kicks off on Thursday with a networking reception providing a great opportunity to reconnect with peers and share experiences. On Friday, we have an impressive lineup of speakers covering the latest topics impacting Connecticut banking. Don’t miss out, register today!

WHY YOU SHOULD ATTEND:

SPONSORSHIP OPPORTUNITIES ARE STILL AVAILABLE.

• Real Life Chaos – How it affects all of us

Contact cba@ctbank.com for additional information.

• Networking – Meet with your peers from around the state.

• Birth Order – Does it really matter in your business life?

• Diversity Policies and Practices – Can we increase diversity in the financial industry?

• The power of forgiveness and the importance of healing broken relationships.

• So much more!!

FEBRUARY 2016 | THE COMMERCIAL RECORD | 21

TOP COMMERCIAL TRANSACTIONS Visit www.commercialrecord.com for a complete list of commercial transactions updated weekly.

TOP 3 STATEWIDE 64 Lasalle Rd, West Hartford...............$17,600,000*

52 Lasalle Rd, West Hartford...............$17,600,000*

1030 Elm St, Rocky Hill........................ $14,615,000

Use:............................................. Commercial Building

Use:............................................. Commercial Building

Use:............................................. Commercial Building

Buyer:................................. Lasalle Road Partners LLC

Buyer:................................. Lasalle Road Partners LLC

Buyer:............................... Woodgreen Elm Street LLC

Seller: ......................................... Sinatro Brothers LLC

Seller:......................................... Sinatro Brothers LLC

Seller: .................................West Elm Business Center

Mtg:.......................... First Niagara Bank $16,200,000

Mtg:.......................... First Niagara Bank $16,200,000

Mtg:............................ Wells Fargo Bank $10,961,250

Date: ............................................................ 12/17/15

Date: ............................................................ 12/17/15

Date:............................................................ 12/02/15

Total Assessed Value (2015): .....................$1,370,180

Total Assessed Value (2015):..................... $2,136,330

Total Assessed Value (2015):..................... $6,197,240

Lot Size: ......................................................... 19634sf

Lot Size: ......................................................... 15875sf

Lot Size: ....................................................... 614632sf

FAIRFIELD 22 Shelter Rock Ln, Danbury.........$10,340,000 Use:..................................................Industrial Building Buyer: .................................... Shelter Rock Associates Seller:................................. Shelter Rock Business Ctr Mtg: ..........................Union Savings Bank $7,755,000 Date: ............................................................ 12/09/15 Total Assessed Value (2015):..................... $5,133,100 Lot Size: ....................................................... 747054sf

210 Connecticut Ave, Norwalk....... $3,600,000 Use:............................ Mixed Use-Prim Comm & Resd Buyer: ..........................................Elenie 21 Realty LLC Seller: ................................................... Hope 210 LLC Mtg:....................................... Celtic Bank $3,050,000 Date: ............................................................ 12/11/15 Total Assessed Value (2015):..................... $1,558,140 Lot Size: ......................................................... 58556sf

504 Glenbrook Rd, Stamford.......... $3,000,000 Use:............................................. Commercial Building Buyer:............................ SHD Glenbrook Gardens LLC Seller: ....................Joseph Galluzzo & Maria I Galluzzo Date: ............................................................ 12/29/15 Total Assessed Value (2015): .....................$1,080,560 Lot Size: ......................................................... 32808sf Prior Sale: ........................................$575,000 (12/02)

64 Lasalle Rd, West Hartford....... $17,600,000* Use:............................................. Commercial Building Buyer:................................. Lasalle Road Partners LLC Seller: ......................................... Sinatro Brothers LLC Mtg:.......................... First Niagara Bank $16,200,000 Date:............................................................ 12/17/15 Total Assessed Value (2015):..................... $1,370,180 Lot Size:......................................................... 19634sf

1030 Elm St, Rocky Hill.................$14,615,000 Use:............................................. Commercial Building Buyer: ............................... Woodgreen Elm Street LLC Seller:................................. West Elm Business Center Mtg:.............................Wells Fargo Bank $10,961,250 Date: ............................................................ 12/02/15 Total Assessed Value (2015): .....................$6,197,240 Lot Size: ....................................................... 614632sf

793 Bantam Rd, Litchfield.............. $1,600,000 Use:............................................. Commercial Building Buyer: ..........................................793 Bantam Rd LLC Seller: ............................................Ronald J Cancini Jr Mtg: .........................Ronald J Canciani Jr $1,500,000 Date: ............................................................ 12/21/15 Total Assessed Value (2015): ........................$710,890 Lot Size:......................................................... 29185sf

7 West St, Litchfield....................... $1,500,000 Use:............................................. Commercial Building Buyer: ........................................................7 West LLC Seller: ................................................. Hunt Block LLC Mtg: ................................ Hunt Block LLC $1,200,000 Date:............................................................ 11/17/15 Total Assessed Value (2015): ........................$860,330 Lot Size: .......................................................... 4792sf

37 Commerce St, Clinton................. $465,000 Use:.............................. Mixed Use-Prim Res & Comm Buyer: ................................................Beni Clinton LLC Seller: .................................. Commerce St Dental LLC Mtg: ......................................Webster Bank $372,000 Date: ............................................................ 01/08/16 Total Assessed Value (2015):........................ $209,800 Lot Size:......................................................... 23087sf

40 William F Palmer Rd, East Haddam.. $380,000 Use:..................................................Industrial Building Buyer:.................................................... Dutch 41 LLC Seller: ........................................................ MFTW LLC Mtg: ........................... Peoples United Bank $300,000 Date: ............................................................ 12/18/15 Total Assessed Value (2015):........................ $231,430 Lot Size: ......................................................... 25265sf Prior Sale: ..........................................$49,000 (08/98)

HARTFORD 52 Lasalle Rd, West Hartford....... $17,600,000* Use:............................................. Commercial Building Buyer:................................. Lasalle Road Partners LLC Seller: ......................................... Sinatro Brothers LLC Mtg:.......................... First Niagara Bank $16,200,000 Date: ............................................................ 12/17/15 Total Assessed Value (2015):..................... $2,136,330 Lot Size:......................................................... 15875sf

LITCHFIELD 832 Straits Tpke, Watertown.......... $6,000,000 Use:................................................... Commercial Use Buyer:................................................... Vail Realty LLC Seller: .........................................................CADS LLC Mtg: ..............................Wells Fargo Bank $8,000,000 Date: ............................................................ 11/24/15 Total Assessed Value (2015): .....................$2,201,800 Lot Size:......................................................... 67082sf Prior Sale: .....................................$1,200,000 (10/94)

MIDDLESEX 823 Newfield St, Middletown........... $750,000 Use:.............................. Mixed Use-Prim Res & Comm Buyer: ...................................Middletown Dev Partners Seller:........................... Charlene P Krol & Frank J Krol Mtg: ..................... PeoplesBank (Holyoke) $3,345,000 Date: ............................................................ 12/02/15 Total Assessed Value (2015): ........................$431,850 Lot Size:....................................................... 432551sf Prior Sale: ........................................$250,000 (10/96)

*Group sales.

22 | THE COMMERCIAL RECORD | FEBRUARY 2016

FEATURED PROPERTY 6 Shaws Cv, New London.............................................................. $7,200,000 Use:........................................................................................ Commercial Building Buyer: ........................................................................................... 6 Shaws Cv LLC Seller: .............................................................................. Shaws New London LLC Mtg: ................................................................Connecticut Comm CU $2,700,000 Date:........................................................................................................ 12/30/15 Total Assessed Value (2015): ................................................................ $5,140,030 Lot Size: .................................................................................................. 135907sf

NEW HAVEN 800 E Main St, Meriden.................. $4,491,667 Use:............................................. Commercial Building Buyer: ......................John T Medeiros Tr, Tr for MW RT Seller: .................................. 800 East Main Street LLC Mtg:..................... PeoplesBank (Holyoke) $2,095,000 Date: ............................................................ 12/02/15 Total Assessed Value (2015):........................ $597,590 Lot Size:......................................................... 47264sf Prior Sale:........................................ $855,000 (03/06)

15 N Plains Industrial Rd, Wallingford. $2,470,000 Use:............................................. Commercial Building Buyer: .......................................................... Hank LLC Seller: ......................................15 N Plains Ind Rd LLC Mtg: .......................................Citibank Na $3,180,000 Date: ............................................................ 12/31/15 Total Assessed Value (2015):........................ $814,700 Lot Size: ....................................................... 145055sf Prior Sale:........................................ $600,000 (04/03)

882 S Main St, Cheshire................. $2,200,000 Use:........................................................Retail-Service Buyer:.................................................... Pentastar LLC Seller:....................................... Whitney Cheshire LLC Date: ............................................................ 12/02/15 Total Assessed Value (2015): ........................$836,700 Lot Size: ......................................................... 59242sf Prior Sale: .....................................$1,350,000 (04/08)

275 Otrobando Ave, Norwich.......... $3,700,000 Use:............................................. Commercial Building Buyer: ........................................Anaya Hospitality LLC Seller:....................................... Kautilya Norwich Hotel Date: ............................................................ 12/17/15 Total Assessed Value (2015): .....................$3,095,300 Lot Size: ....................................................... 100624sf Prior Sale: .....................................$6,925,000 (04/07)

Lambtown Rd, Groton..................... $1,020,000 Use:............................................ Land-Vacant & Open Buyer: ................................ Groton Open Space Assoc Seller: .....................................................Julia A Weber Date:............................................................ 12/29/15 Total Assessed Value (2015):.........................$143,710 Lot Size: ..................................................... 1793801sf Prior Sale: ........................................$395,000 (06/13)

575 Talcottville Rd, Vernon............. $1,050,000 Use:............................................................. Retail-Any Buyer: ....................................... 575 Talcott Props LLC Seller:....................................... Jabarb Properties LLC Date: ............................................................ 12/17/15 Total Assessed Value (2015): ........................$612,820 Lot Size: ......................................................... 55321sf Prior Sale:........................................ $925,000 (04/05)

22 Route 66 E, Columbia................. $440,000 Use:............................................. Commercial Building Buyer: .............................................. Jeremy Flubacher Seller: ....................................... 22 Route 66 East LLC Mtg:................................................... Seller $400,000 Date: ............................................................ 12/02/15 Total Assessed Value (2015): ........................$224,000 Lot Size:......................................................... 35284sf Prior Sale: ..........................................$27,375 (02/88)

354 Hartford Tpke, Hampton........... $225,000 Use:............................................. Commercial Building Buyer: ..........................................Hampton Belles LLC Seller:....................................... BBKV Associates LLC Mtg:............................... First Niagara Bank $180,000 Date: ............................................................ 12/22/15 Total Assessed Value (2015): ........................$176,410 Lot Size: ......................................................... 39204sf Prior Sale: ..........................................$97,000 (04/99)

500 Hampton Rd, Pomfret............... $167,200 Use:..................................................Industrial Building Buyer:................................................... MTJ Group Inc Seller: ................................... Abington Hall Realty LLC Mtg: ..................................................Putnam Bank $1 Date:............................................................ 12/28/15 Total Assessed Value (2015): ........................$117,100 Lot Size: ......................................................... 20038sf

NEW LONDON 6 Shaws Cv, New London................ $7,200,000 Use:............................................. Commercial Building Buyer: ................................................6 Shaws Cv LLC Seller: ................................... Shaws New London LLC Mtg: .....................Connecticut Comm CU $2,700,000 Date:............................................................ 12/30/15 Total Assessed Value (2015): .....................$5,140,030 Lot Size: ....................................................... 135907sf

TOLLAND 47 Main St, Vernon......................... $1,400,000 Use:......................................... Manufacturing Building Buyer: ......................................Historic Talcott Mill LLC Seller: ....................................Talcott Mill Landlord LLC Mtg:....................... CT Housing Fin Auth $15,000,000 Date: ............................................................ 11/25/15 Total Assessed Value (2015): ........................$447,780 Lot Size: ....................................................... 331056sf Prior Sale: ........................................$149,000 (12/95)

WINDHAM 556 Westcott Rd, Killingly.............. $1,000,000 Use:............................ Mixed Use-Prim Comm & Resd Buyer: ........................................................ Rolgate Inc Seller:................................. Windham North Properties Date: ............................................................ 12/03/15 Total Assessed Value (2015):........................ $689,640 Lot Size: ....................................................... 231739sf Prior Sale: ........................................$175,000 (01/90)

FEBRUARY 2016 | THE COMMERCIAL RECORD | 23

TRENDLINES

FAIRFIELD COUNTY SALES REPORT

NUMBER OF SALES DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 YTD

MEDIAN PRICE %CHG 14-15

DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

BETHEL 1 Family

1 1

16

45.45%

139

180

29.50%

$225,000

$243,500

8.22%

$294,000

$290,000

-1.36%

Condo

9

11

22.22%

60

95

58.33%

$250,000

$307,394

22.96%

$233,250

$303,045

29.92%

2 5

32

28.00%

255

326

27.84%

$245,000

$248,500

1.43%

$286,600

$299,950

4.66%

All Sales

BRIDGEPORT 1 Family

4 1

47

14.63%

429

495

15.38%

$160,000

$175,000

9.38%

$150,000

$154,900

3.27%

Condo

1 2

15

25.00%

165

178

7.88%

$72,000

$90,000

25.00%

$71,000

$68,500

-3.52%

92

-4.17% 1,014

1,146

13.02%

$156,500

$150,288

-3.97%

$135,000

$135,000

0.00%

0.84%

All Sales

9 6

BROOKFIELD 1 Family

1 4

15

7.14%

161

187

16.15%

$379,750

$400,000

5.33%

$359,000

$362,000

Condo

5

8

60.00%

65

71

9.23%

$125,000

$225,000

80.00%

$185,000

$188,000

1.62%

2 5

28

12.00%

301

323

7.31%

$375,000

$381,750

1.80%

$330,750

$324,800

-1.80%

1 Family

3 3

38

15.15%

392

410

4.59%

$225,000

$280,125

24.50%

$260,000

$269,450

3.63%

Condo

3 6

18

-50.00%

321

337

4.98%

$182,174

$159,000

-12.72%

$205,000

$188,500

-8.05%

8 9

83

-6.74%

964

1,020

5.81%

$235,000

$250,000

6.38%

$257,000

$260,000

1.17%

2 5

13

-48.00%

317

346

9.15%

$1,437,500

$1,195,000

-16.87% $1,385,530

$1,392,500

0.50%

N/A $ 1,037,500

$1,619,038

56.05%

-7.76% $1,365,000

$1,425,000

4.40%

$582,000

0.69%

All Sales

DANBURY

All Sales

DARIEN 1 Family Condo

32

32

0.00%

3 0

16

-46.67%

375

417

11.20%

$1,437,500

$1,326,000

1 Family

1 2

8

-33.33%

94

105

11.70%

$575,500

$506,125

Condo

0

0

0

0

1 2

10

-16.67%

102

119

All Sales

2

0 -100.00%

N/A

N/A

EASTON

All Sales

N/A

N/A

N/A

N/A

-12.05% N/A

$578,000 N/A

N/A

N/A

16.67%

$575,500

$487,500

-15.29%

$578,000

$572,500

-0.95%

2.00%

FAIRFIELD 1 Family

3 6

59

63.89%

601

751

24.96%

$551,000

$610,000

10.71%

$549,000

$560,000

Condo

5

7

40.00%

111

91

-18.02%

$295,000

$335,000

13.56%

$440,000

$365,000 -17.05%

5 4

74

37.04%

814

951

16.83%

$549,950

$525,000

-4.54%

$530,000

$530,000

0.00%

31.45% $1,525,000

All Sales

GREENWICH 1 Family

4 3

24

-44.19%

389

427

9.77%

$1,175,000

$1,544,500

Condo

1 0

10

0.00%

116

150

29.31%

$697,500

$552,500

6 2

49

-20.97%

603

693

14.93%

$1,011,250

$975,000

1 Family

1 4

26

85.71%

145

202

39.31%

$391,250

$329,250

-15.85%

$335,000

$342,500

2.24%

Condo

5

3

-40.00%

57

65

14.04%

$160,900

$267,000

65.94%

$217,000

$202,500

-6.68%

2 0

32

60.00%

218

295

35.32%

$376,250

$325,000

-13.62%

$319,000

$320,000

0.31%

-40.26% $1,573,750

All Sales

$1,500,000

-1.64%

$701,500

$652,500

-6.99%

-3.58% $1,155,000

$1,195,000

3.46%

-20.79%

MONROE

All Sales

NEW CANAAN 1 Family

2 1

11

-47.62%

290

299

3.10%

$2,285,000

$1,365,000

Condo

6

3

-50.00%

84

54

-35.71%

$675,000

$815,000

3 1

15

-51.61%

405

390

-3.70%

$1,499,000

$1,140,000

21

5.00%

176

181

2.84%

$355,000

$302,001

0 -100.00%

6

24

300.00%

$298,204

8.33%

$326,500

$310,001

$364,000

$380,000

All Sales

$1,456,625

-7.44%

$672,500

$812,500

20.82%

-23.95% $1,327,500

$1,335,000

0.56%

20.74%

NEW FAIRFIELD 1 Family

2 0

Condo

3

All Sales

2 6

26

0.00%

216

234

-14.93%

$323,000

$336,900

4.30%

N/A -100.00%

$314,723

$299,950

-4.69%

-5.05%

$305,000

$319,375

4.71%

4.40%

$364,000

$370,000

1.65%

N/A $357,943

$338,732

-5.37%

$361,750

-0.62%

NEWTOWN 1 Family

2 5

19

-24.00%

341

351

2.93%

Condo

2

2

0.00%

39

35

-10.26%

3 6

25

-30.56%

439

434

-1.14%

All Sales

24 | THE COMMERCIAL RECORD | FEBRUARY 2016

N/A $364,500

N/A $365,000

0.14%

$364,000

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES DEC 2014

DEC %CHG 2014 2015 14-15 YTD

MEDIAN PRICE

2015 YTD

%CHG 14-15

DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

NORWALK 1 Family

4 4

59

34.09%

535

664

24.11%

$447,500

$410,000

-8.38%

$430,000

$441,250

2.62%

Condo

2 9

25

-13.79%

278

331

19.06%

$240,000

$215,000

-10.42%

$248,250

$265,000

6.75%

9 5

96

1.05%

995

1,158

16.38%

$335,000

$342,500

2.24%

$357,500

$374,000

4.62%

1 Family

4

8

100.00%

85

117

37.65%

$522,000

$560,000

7.28%

$555,000

$512,500

-7.66%

Condo

0

0

2

0

-100.00%

4

10

150.00%

104

134

28.85%

$522,000

$560,000

7.28%

$542,500

$513,750

-5.30%

$542,500

-16.35%

$650,000

$640,000

-1.54%

N/A -100.00%

$260,000

$223,500 -14.04%

All Sales

REDDING

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

N/A

RIDGEFIELD 1 Family

3 6

24

-33.33%

341

317

-7.04%

$648,500

Condo

6

1

-83.33%

63

70

11.11%

$194,000

4 7

28

-40.43%

441

418

-5.22%

$575,000

$507,750

-11.70%

$605,000

$589,500

-2.56%

1 Family

2 7

27

0.00%

274

336

22.63%

$340,000

$309,000

-9.12%

$324,500

$300,000

-7.55%

Condo

7

14

100.00%

119

166

39.50%

$220,000

$209,750

-4.66%

$250,000

$258,000

3.20%

4 3

49

13.95%

470

587

24.89%

$340,000

$256,000

-24.71%

$303,250

$295,000

-2.72%

-66.67%

49

59

20.41%

$436,500

N/A -100.00%

$465,000

$435,000

-6.45%

0

0

All Sales

SHELTON

All Sales

SHERMAN 1 Family

6

2

Condo

0

0

6

2

-66.67%

61

64

4.92%

$436,500

All Sales

N/A

N/A

N/A

N/A

N/A

N/A -100.00%

N/A

N/A

N/A

$420,000

$415,000

-1.19%

STAMFORD 1 Family

4 8

71

47.92%

519

704

35.65%

$581,750

$538,500

-7.43%

$605,000

$554,000

-8.43%

Condo

4 3

47

9.30%

540

548

1.48%

$330,000

$235,000

-28.79%

$310,000

$293,500

-5.32%

1 14

141

23.68% 1,261

1,505

19.35%

$477,500

$452,000

-5.34%

$450,000

$435,000

-3.33%

-2.17%

All Sales

STRATFORD 1 Family

2 2

60

172.73%

405

535

32.10%

$215,000

$212,450

-1.19%

$230,000

$225,000

Condo

1 1

10

-9.09%

131

158

20.61%

$127,500

$140,000

9.80%

$175,000

$178,000

1.71%

88

91.30%

629

842

33.86%

$191,500

$196,950

2.85%

$215,000

$212,250

-1.28%

$340,000

$320,000

-5.88%

$367,500

$355,000

-3.40%

N/A $334,900

$320,000

-4.45%

All Sales

4 6

TRUMBULL 1 Family

3 3

23

-30.30%

373

391

4.83%

Condo

1

3

200.00%

33

35

6.06%

3 7

27

-27.03%

440

462

5.00%

$330,000

$317,600

-3.76%

$361,000

$350,000

-3.05%

1 Family

1 3

15

15.38%

148

167

12.84%

$885,000

$975,000

10.17%

$825,000

$819,900

-0.62%

Condo

0

0

1

0

-100.00%

1 3

16

23.08%

166

185

11.45%

$885,000

$930,000

$1,132,500

All Sales

N/A

$236,000

WESTON

All Sales

N/A

N/A

N/A

N/A 5.08%

N/A

N/A

N/A

$797,500

$807,600

1.27%

$1,656,250

46.25% $1,190,000

$1,187,500

-0.21%

$740,000

N/A $707,000

$636,375

-9.99%

-0.93% $1,052,500

$1,100,000

4.51%

$803,000

$820,000

2.12%

N/A $369,000

$398,500

7.99%

WESTPORT 1 Family

3 0

26

-13.33%

366

373

1.91%

Condo

2

3

50.00%

30

26

-13.33%

3 8

33

-13.16%

464

458

-1.29%

$1,132,500

$1,122,000

1 Family

1 7

10

-41.18%

227

212

-6.61%

$865,000

$574,750

Condo

2

0 -100.00%

40

34

-15.00%

296

274

-7.43%

$815,250

$655,000

-19.66%

$770,000

$778,500

1.10%

All Sales

N/A

WILTON

All Sales

2 4

13

-45.83%

N/A

N/A

-33.55%

FAIRFIELD COUNTY 1 Family

5 75

622

8.17% 6,796

7,809

14.91%

$485,000

$394,000

-18.76%

$475,000

$455,000

-4.21%

Condo

1 96

180

-8.16% 2,293

2,500

9.03%

$237,450

$219,000

-7.77%

$270,000

$265,000

-1.85%

985

1.23% 11,033

12,435

12.71%

$400,000

$345,000

-13.75%

$394,500

$380,000

-3.68%

All Sales

9 73

FEBRUARY 2016 | THE COMMERCIAL RECORD | 25

TRENDLINES

HARTFORD COUNTY SALES REPORT

NUMBER OF SALES DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2 1 7 3 0

19 16 39

-9.52% 128.57% 30.00%

217 120 380

2 0 7 3 1

11 2 16

-45.00% -71.43% -48.39%

1 5 5 2 4

21 7 30

4 0 1 4 5 9

45 15 72

2015 YTD

MEDIAN PRICE %CHG 14-15

DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

235 149 422

8.29% 24.17% 11.05%

$410,000 $272,000 $346,000

$425,000 $153,500 $250,000

3.66% -43.57% -27.75%

$420,950 $222,500 $335,000

$445,000 $205,000 $330,000

5.71% -7.87% -1.49%

184 51 286

172 50 270

-6.52% -1.96% -5.59%

$216,000 $230,000 $234,900

$220,000 1.85% N/A -100.00% $247,500 5.36%

$249,450 $234,900 $246,500

$255,000 $247,000 $249,500

2.22% 5.15% 1.22%

40.00% 40.00% 25.00%

161 50 252

237 63 334

47.20% 26.00% 32.54%

$165,250 $158,000 $166,375

$184,900 11.89% $350,000 121.52% $207,500 24.72%

$170,000 $230,450 $179,950

$177,000 4.12% $185,000 -19.72% $181,000 0.58%

12.50% 7.14% 22.03%

409 97 614

501 104 741

22.49% 7.22% 20.68%

$167,000 $107,500 $157,000

$169,000 $65,000 $148,700

$176,000 $110,000 $163,850

$176,000 $103,250 $165,000

7 2 1 1

13 85.71% 0 -100.00% 15 36.36%

79 3 103

122 1 142

54.43% -66.67% 37.86%

$262,500 N/A $262,500

$325,000 23.81% $335,113 N/A N/A $125,000 $380,000 44.76% $337,000

$301,500 -10.03% N/A - 100.00% $300,000 -10.98%

1 1 2 1 5

10 3 15

108 29 157

106 42 176

-1.85% 44.83% 12.10%

$337,500 N/A $310,000

$301,000 $170,000 $259,000

$302,000 -10.85% $193,250 -10.12% $281,000 -6.33%

59 13 81

57 11 76

-3.39% -15.38% -6.17%

$202,000 N/A $208,000

$264,000 30.69% $237,500 N/A N/A $146,250 $277,000 33.17% $237,500

$250,000 $144,900 $253,250

AVON 1 Family Condo All Sales

BERLIN 1 Family Condo All Sales

BLOOMFIELD 1 Family Condo All Sales

BRISTOL 1 Family Condo All Sales

1.20% -39.53% -5.29%

0.00% -6.14% 0.70%

BURLINGTON 1 Family Condo All Sales

CANTON 1 Family Condo All Sales

-9.09% 50.00% 0.00%

-10.81% $338,750 N/A $215,000 -16.45% $300,000

EAST GRANBY 1 Family Condo All Sales

5 0 6

6 1 7

20.00% N/A 16.67%

5.26% -0.92% 6.63%

EAST HARTFORD 1 Family Condo All Sales

3 8 6 5 0

32 6 50

-15.79% 0.00% 0.00%

373 43 538

434 46 618

16.35% 6.98% 14.87%

$137,750 $93,803 $120,950

$132,500 $130,588 $128,500

-3.81% 39.22% 6.24%

$138,000 $68,000 $132,000

$134,450 -2.57% $54,250 -20.22% $132,000 0.00%

1 1 3 1 8

10 5 21

-9.09% 66.67% 16.67%

89 44 185

97 46 189

8.99% 4.55% 2.16%

$175,000 $149,900 $151,900

$176,250 $143,000 $162,500

0.71% -4.60% 6.98%

$187,500 $149,900 $150,000

$185,000 $154,200 $162,000

-1.33% 2.87% 8.00%

3 3 4 4 3

50 5 61

51.52% 25.00% 41.86%

415 93 567

484 113 658

16.63% 21.51% 16.05%

$169,900 $191,000 $170,000

$157,500 $125,900 $152,000

-7.30% -34.08% -10.59%

$161,000 $136,000 $160,000

$165,000 $137,000 $160,000

2.48% 0.74% 0.00%

18 9 31

50.00% -25.00% 0.00%

214 154 416

215 163 428

0.47% 5.84% 2.88%

$283,750 $156,950 $287,500

$305,000 $189,000 $267,500

7.49% 20.42% -6.96%

$361,000 $188,950 $286,500

$345,000 $186,995 $274,250

-4.43% -1.03% -4.28%

2 9 1 5 5 3

43 9 56

48.28% -40.00% 5.66%

341 121 535

407 133 608

19.35% 9.92% 13.64%

$339,900 $200,000 $309,000

$325,000 $191,000 $284,350

-4.38% -4.50% -7.98%

$350,000 $190,000 $305,000

$350,000 0.00% $169,900 -10.58% $300,000 -1.64%

9 4 1 6

13 44.44% 0 -100.00% 16 0.00%

102 17 150

155 19 200

51.96% 11.76% 33.33%

$210,000 $322,000 53.33% $181,500 -100.00% $197,000 $325,950 65.46%

$264,750 $168,000 $244,950

$279,000 $174,900 $264,000

28 9 75

40.00% 50.00% 22.95%

227 85 704

256 109 744

12.78% 28.24% 5.68%

$117,750 $85,560 $145,000

$120,000 $59,000 $129,950

$109,000 -9.17% $54,000 -8.47% $115,000 -11.50%

1 0 1

-50.00% N/A -50.00%

8 0 13

20 0 21

150.00% N/A 61.54%

EAST WINDSOR 1 Family Condo All Sales

ENFIELD 1 Family Condo All Sales

FARMINGTON 1 Family Condo All Sales

1 2 1 2 3 1

GLASTONBURY 1 Family Condo All Sales

GRANBY 1 Family Condo All Sales

5.38% 4.11% 7.78%

HARTFORD 1 Family Condo All Sales

2 0 6 6 1

$111,200 $30,000 $128,000

-5.56% -64.94% -11.72%

HARTLAND 1 Family Condo All Sales

2 0 2

26 | THE COMMERCIAL RECORD | FEBRUARY 2016

N/A N/A N/A

N/A N/A N/A

N/A $261,500 N/A N/A N/A $250,000

$235,000 -10.13% N/A N/A $255,000 2.00%

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 YTD

MEDIAN PRICE %CHG 14-15

DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

MANCHESTER 1 Family Condo All Sales

3 1 1 1 5 3

50 8 72

61.29% -27.27% 35.85%

467 94 679

496 95 715

6.21% 1.06% 5.30%

$164,697 $142,000 $160,000

$156,500 $119,450 $156,500

69 9 91

75 9 103

-4.98% -15.88% -2.19%

$166,900 $119,000 $159,500

$160,000 $118,000 $156,500

-4.13% -0.84% -1.88%

8.70% 0.00% 13.19%

$231,200 N/A $231,200

$308,750 33.54% $268,000 N/A N/A $212,500 $322,500 39.49% $244,000

$270,000 $203,000 $236,000

0.75% -4.47% -3.28%

MARLBOROUGH 1 Family Condo All Sales

8 0 8

4 0 7

-50.00% N/A -12.50%

NEW BRITAIN 1 Family Condo All Sales

2 8 9 6 6

33 6 65

17.86% -33.33% -1.52%

335 67 653

364 74 686

8.66% 10.45% 5.05%

$132,000 $50,000 $127,450

$119,900 -9.17% $135,000 170.00% $132,500 3.96%

$129,900 $95,000 $125,000

$128,000 -1.46% $79,900 -15.89% $128,000 2.40%

19 13 39

-20.83% 8.33% -2.50%

240 112 377

280 129 463

16.67% 15.18% 22.81%

$197,500 $158,750 $204,950

$215,000 $134,000 $190,000

8.86% -15.59% -7.29%

$203,000 $148,000 $195,000

$210,000 $137,000 $195,000

3.45% -7.43% 0.00%

14 5 21

40.00% -16.67% 10.53%

130 53 217

161 58 258

23.85% 9.43% 18.89%

$182,500 $142,000 $180,000

$153,500 $103,000 $129,950

-15.89% -27.46% -27.81%

$179,450 $132,500 $170,000

$179,000 $141,500 $175,000

-0.25% 6.79% 2.94%

8 19 32

-27.27% 171.43% 45.45%

93 102 221

117 122 270

25.81% 19.61% 22.17%

$230,000 $172,000 $194,000

$259,500 $146,500 $170,000

12.83% -14.83% -12.37%

$240,000 $154,950 $210,000

$241,500 $164,950 $193,250

0.63% 6.45% -7.98%

25 8 38

66.67% 300.00% 90.00%

277 71 370

301 78 407

8.66% 9.86% 10.00%

$274,900 N/A $292,450

$286,250 $190,950 $285,625

22 12 39

69.23% 0.00% 21.88%

152 81 275

231 121 387

51.97% 49.38% 40.73%

$263,500 $132,500 $221,250

$216,000 $135,000 $205,000

-18.03% 1.89% -7.34%

$280,000 $127,500 $230,900

$255,000 $154,000 $234,000

-8.93% 20.78% 1.34%

3 7 5 5 2

37 12 64

0.00% 140.00% 23.08%

365 79 644

364 95 579

-0.27% 20.25% -10.09%

$300,000 $135,000 $286,500

$258,000 $180,750 $248,500

-14.00% 33.89% -13.26%

$267,500 $157,900 $240,000

$248,250 $175,000 $235,000

-7.20% 10.83% -2.08%

1 1 1 1 7

13 1 20

18.18% 0.00% 17.65%

126 30 202

134 38 222

6.35% 26.67% 9.90%

$309,500 N/A $309,500

$243,800 -21.23% $320,000 N/A N/A $180,750 $253,150 -18.21% $291,750

$277,950 -13.14% $149,950 -17.04% $267,750 -8.23%

70 14 94

18.64% 55.56% 23.68%

665 125 851

714 141 945

7.37% 12.80% 11.05%

$280,000 $270,000 $274,950

$279,950 $212,275 $277,450

-0.02% -21.38% 0.91%

$295,000 $210,000 $285,000

$295,813 $237,500 $289,000

0.28% 13.10% 1.40%

2 4 7 3 3

33 2 38

37.50% -71.43% 15.15%

309 62 390

326 59 430

5.50% -4.84% 10.26%

$216,000 $112,000 $181,000

$230,000 6.48% N/A -100.00% $214,500 18.51%

$219,500 $135,000 $201,000

$224,300 $141,000 $210,000

2.19% 4.44% 4.48%

2 1 1 0 4 2

28 6 39

33.33% -40.00% -7.14%

241 49 328

296 55 401

22.82% 12.24% 22.26%

$176,000 $140,000 $178,000

$194,450 $196,500 $194,000

$190,000 $192,500 $189,950

$186,950 $189,900 $189,900

-1.61% -1.35% -0.03%

12 0 14

-7.69% N/A -22.22%

122 20 166

133 33 204

9.02% 65.00% 22.89%

$192,000 N/A $192,850

$152,250 -20.70% $168,950 N/A N/A $124,000 $148,500 -23.00% $163,000

$157,000 $124,000 $155,250

-7.07% 0.00% -4.75%

19.03% 6,577 8.43% 1,874 14.66% 10,445

7,490 2,156 11,697

13.88% 15.05% 11.99%

$207,250 $147,250 $192,350

$205,000 $145,500 $186,995

$210,000 $155,000 $192,500

-2.33% -0.61% -1.28%

NEWINGTON 1 Family Condo All Sales

2 4 1 2 4 0

PLAINVILLE 1 Family Condo All Sales

1 0 6 1 9

ROCKY HILL 1 Family Condo All Sales

1 1 7 2 2

SIMSBURY 1 Family Condo All Sales

1 5 2 2 0

4.13% $325,000 N/A $185,000 -2.33% $309,575

$309,818 -4.67% $165,250 -10.68% $293,117 -5.32%

SOUTH WINDSOR 1 Family Condo All Sales

1 3 1 2 3 2

SOUTHINGTON 1 Family Condo All Sales

SUFFIELD 1 Family Condo All Sales

WEST HARTFORD 1 Family Condo All Sales

5 9 9 7 6

WETHERSFIELD 1 Family Condo All Sales

WINDSOR 1 Family Condo All Sales

10.48% 40.36% 8.99%

WINDSOR LOCKS 1 Family Condo All Sales

1 3 0 1 8

HARTFORD COUNTY 1 Family Condo All Sales

5 78 688 1 78 193 9 48 1,087

-1.09% -1.19% -2.78%

$215,000 $155,950 $195,000

FEBRUARY 2016 | THE COMMERCIAL RECORD | 27

TRENDLINES

LITCHFIELD COUNTY SALES REPORT

NUMBER OF SALES DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 YTD

MEDIAN PRICE %CHG 14-15

DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

BARKHAMSTED 1 Family Condo All Sales

3 0 3

1 0 1

-66.67% N/A -66.67%

35 0 48

40 0 50

14.29% N/A 4.17%

$260,300 N/A -100.00% $233,250 N/A N/A N/A N/A $260,300 -100.00% $225,750

$227,500 -2.47% N/A N/A $213,750 -5.32%

2 0 2

-33.33% N/A -50.00%

23 0 27

34 0 40

47.83% N/A 48.15%

$175,000 -100.00% $283,000 N/A N/A N/A N/A $206,250 -100.00% $283,000

$253,500 -10.42% N/A N/A $251,000 -11.31%

3 1 5

3 1 4

0.00% 0.00% -20.00%

28 3 35

25 3 34

-10.71% 0.00% -2.86%

0 0 2

2 0 2

N/A N/A 0.00%

5 0 9

10 0 17

100.00% N/A 88.89%

N/A N/A N/A

N/A N/A N/A

N/A $248,000 N/A N/A N/A $245,000

$262,000 5.65% N/A N/A $239,000 -2.45%

2 0 4

100.00% N/A 300.00%

10 0 12

16 0 24

60.00% N/A 100.00%

N/A N/A N/A

N/A N/A $231,750

N/A $198,513 N/A N/A N/A $222,013

$190,000 -4.29% N/A N/A $220,000 -0.91%

1 0 3

5 0 5

400.00% N/A 66.67%

11 0 22

15 0 24

36.36% N/A 9.09%

N/A N/A $380,000

$160,000 N/A $320,000 N/A N/A N/A $160,000 -57.89% $287,500

$220,000 -31.25% N/A N/A $158,500 -44.87%

4 0 1 1

4 0 4

0.00% N/A -63.64%

39 2 62

57 0 79

$246,750 N/A $230,000

$467,500 89.46% $295,000 N/A N/A N/A $467,500 103.26% $277,500

$320,000 8.47% N/A N/A $315,000 13.51%

5 0 7

5 0 5

0.00% N/A -28.57%

52 0 72

61 2 93

$229,000 N/A $188,000

$261,000 13.97% $219,800 N/A N/A N/A $261,000 38.83% $211,500

$224,000 1.91% N/A N/A $205,000 -3.07%

4 0 8

1 3 4

-75.00% N/A -50.00%

20 5 40

34 13 58

$451,250 N/A $306,250

N/A -100.00% $317,000 $155,000 N/A $169,000 $167,500 -45.31% $256,000

$332,500 $165,000 $253,000

61 7 100

62 9 119

26 0 38

35 0 44

BETHLEHEM 1 Family Condo All Sales

3 0 4

BRIDGEWATER 1 Family Condo All Sales

$1,125,000 $1,050,000 -6.67% $435,000 N/A N/A N/A $205,000 $425,000 $908,750 113.82% $380,000

$492,450 $202,000 $481,225

13.21% -1.46% 26.64%

CANAAN 1 Family Condo All Sales

COLEBROOK 1 Family Condo All Sales

1 0 1

CORNWALL 1 Family Condo All Sales

GOSHEN 1 Family Condo All Sales

46.15% -100.00% 27.42%

HARWINTON 1 Family Condo All Sales

17.31% N/A 29.17%

KENT 1 Family Condo All Sales

70.00% 160.00% 45.00%

4.89% -2.37% -1.17%

LITCHFIELD 1 Family Condo All Sales

6 1 8

6 0.00% 0 -100.00% 11 37.50%

1.64% $297,319 $241,500 28.57% 19.00% $235,819 $230,000

-18.77% $330,000 N/A $272,500 -2.47% $291,000

$285,000 -13.64% $336,552 23.51% $272,000 -6.53%

MORRIS 1 Family Condo All Sales

0 0 1

1 0 1

N/A N/A 0.00%

34.62% N/A 15.79%

N/A N/A N/A

N/A N/A N/A

N/A $310,250 N/A N/A N/A $252,250

$263,000 -15.23% N/A N/A $249,500 -1.09%

$255,000 N/A $232,500

$248,000 N/A $237,400

-2.75% $286,000 N/A $83,500 2.11% $247,500

$231,975 -18.89% $99,375 19.01% $217,000 -12.32%

$288,500 $138,500 $262,500

26.40% 13.06% 23.53%

$280,000 5.75% $118,500 -13.03% $235,000 -4.08%

NEW HARTFORD 1 Family Condo All Sales

5 1 8

13 1 16

160.00% 0.00% 100.00%

47 3 66

86 8 117

82.98% 166.67% 77.27%

2 6 8 4 0

24 10 44

-7.69% 25.00% 10.00%

243 68 389

280 88 441

15.23% 29.41% 13.37%

$228,250 $122,500 $212,500

3 0 4

1 0 2

-66.67% N/A -50.00%

17 0 23

21 0 28

23.53% N/A 21.74%

$127,000 N/A $122,844

NEW MILFORD 1 Family Condo All Sales

$264,784 $136,250 $245,000

NORFOLK 1 Family Condo All Sales

28 | THE COMMERCIAL RECORD | FEBRUARY 2016

N/A -100.00% $250,000 N/A N/A N/A N/A -100.00% $250,000

$233,000 -6.80% N/A N/A $212,500 -15.00%

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 YTD

MEDIAN PRICE %CHG 14-15

DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

NORTH CANAAN 1 Family

1

2

Condo

0

0

1

2

All Sales

100.00%

14

22

57.14%

N/A

N/A

N/A $143,500

2

0

-100.00%

N/A

N/A

N/A

100.00%

20

36

80.00%

N/A

N/A

N/A $106,000

N/A

N/A

$130,156 N/A $134,400

-9.30% N/A 26.79%

PLYMOUTH 1 Family

1 3

4

-69.23%

106

90

-15.09%

$179,500

Condo

3

2

-33.33%

9

10

11.11%

$89,900

1 9

9

-52.63%

151

128

-15.23%

$147,000

1 Family

1

7

600.00%

31

39

25.81%

Condo

0

0

0

0

1

7

600.00%

40

53

32.50%

All Sales

$159,500

-11.14%

$172,200

$160,000

-7.08%

N/A -100.00%

$89,900

$116,500

29.59%

$155,000

$150,250

-3.06%

$139,900

-4.83%

ROXBURY

All Sales

N/A

N/A

N/A N/A N/A

$735,000 N/A $735,000

N/A $625,000 N/A

N/A

N/A $546,750

$545,000 -12.80% N/A

N/A

$450,000 -17.70%

SALISBURY 1 Family

5

7

40.00%

48

37

-22.92%

Condo

1

0 -100.00%

9

1

-88.89%

All Sales

$410,000 N/A

$595,000 N/A

45.12%

$362,500

N/A $300,000

$500,000

37.93%

N/A -100.00%

6

8

33.33%

79

52

-34.18%

$395,000

$860,000 117.72%

$350,000

$449,100

28.31%

1 Family

8

3

-62.50%

40

37

-7.50%

$212,500

$275,000

$352,500

$290,000 -17.73%

Condo

0

0

1

1

0.00%

9

3

-66.67%

65

54

-16.92%

$220,000

$275,000

25.00%

$285,000

$281,250

$170,500

$211,600

24.11%

$191,000

$201,500

5.50%

$95,450

$92,000

-3.61% 10.59%

SHARON

All Sales

N/A

N/A

N/A

29.41% N/A

N/A

N/A

N/A -1.32%

THOMASTON 1 Family

3

11

266.67%

57

58

1.75%

Condo

1

2

100.00%

14

10

-28.57%

6

16

166.67%

83

89

7.23%

$190,250

$208,300

9.49%

$170,000

$188,000

$140,000

$135,000

-3.57%

$140,000

$125,500 -10.36%

All Sales

N/A

N/A

N/A

TORRINGTON 1 Family

2 3

37

60.87%

307

322

4.89%

Condo

1

5

400.00%

46

76

65.22%

3 0

52

73.33%

427

487

14.05%

1 Family

2

1

-50.00%

13

18

38.46%

Condo

0

0

0

0

2

1

-50.00%

19

24

26.32%

25.00%

46

59

28.26%

4

7

75.00%

0.00%

66

90

36.36%

$490,000

$410,000

-16.33%

$544,500

$458,500 -15.79%

$225,750

$185,000

-18.05%

$197,750

$195,000

All Sales

N/A $132,000

$92,500 $132,500

N/A 0.38%

$91,300

$77,750 -14.84%

$131,900

$114,050 -13.53% $267,500 -51.10%

WARREN

All Sales

N/A

N/A

N/A

N/A

N/A $547,000

N/A

N/A

N/A

N/A

N/A

N/A $525,000

N/A

N/A

N/A

$267,500 -49.05%

WASHINGTON 1 Family

4

5

Condo

0

0

6

6

All Sales

N/A

$542,500 N/A

$465,000 N/A

-14.29%

$622,000

N/A $202,500

$465,000 -25.24% $250,000

23.46%

WATERTOWN 1 Family

1 4

13

-7.14%

170

230

35.29%

Condo

1

3

200.00%

24

23

-4.17%

2 3

19

-17.39%

244

315

29.10%

$235,000

$191,000

-18.72%

$193,500

$182,000

-5.94%

$130,000

$132,450

1.88%

$129,950

$135,000

3.89%

All Sales

N/A

$159,000

N/A $170,000

-1.39%

$145,000 -14.71%

WINCHESTER 1 Family

5

8

60.00%

80

108

35.00%

Condo

1

1

0.00%

10

7

-30.00%

1 1

14

27.27%

121

144

19.01%

11 1000.00%

All Sales

N/A $125,000

N/A $117,000

N/A -6.40%

$86,500

$55,000 -36.42%

$120,500

$130,000

7.88%

N/A $310,000

$288,750

-6.85%

N/A $125,000

$108,250 -13.40%

WOODBURY 1 Family

1

57

92

61.40%

N/A

Condo

2

2

0.00%

30

48

60.00%

N/A

1 1

14

27.27%

142

164

15.49%

$311,000

$252,000

-18.97%

$274,950

$254,000

-7.62%

24.31% 1,586

-1.05%

All Sales

$307,500 N/A

LITCHFIELD COUNTY 1 Family

1 44

179

Condo

2 1

30

2 30

256

All Sales

1,888

19.04%

$213,750

$226,000

5.73%

$219,800

$217,500

237

306

29.11%

$120,000

$129,950

8.29%

$125,000

$108,250 -13.40%

11.30% 2,400

2,804

16.83%

$200,000

$198,500

-0.75%

$200,000

$192,750

42.86%

-3.63%

FEBRUARY 2016 | THE COMMERCIAL RECORD | 29

TRENDLINES

MIDDLESEX COUNTY SALES REPORT

NUMBER OF SALES DEC 2014

DEC %CHG 2014 2015 14-15 YTD

MEDIAN PRICE

2015 YTD

%CHG 14-15

DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

CHESTER 1 Family Condo All Sales

2 0 2

4 0 5

100.00% N/A 150.00%

47 2 56

49 2 57

4.26% 0.00% 1.79%

N/A N/A N/A

$265,000 N/A $235,000

N/A $246,000 N/A N/A N/A $243,450

$295,000 19.92% N/A N/A $293,500 20.56%

1 3 3 1 8

13 1 17

0.00% -66.67% -5.56%

124 19 176

171 23 223

37.90% 21.05% 26.70%

$229,000 $125,000 $228,500

$232,700 1.62% N/A -100.00% $232,700 1.84%

$244,500 $110,000 $229,000

$255,000 $147,500 $240,000

4 5 13

-20.00% -61.54% -38.10%

79 113 227

102 113 261

29.11% 0.00% 14.98%

$215,000 $125,000 $152,000

$306,500 $90,000 $195,000

$253,000 $134,000 $177,000

$220,000 -13.04% $125,800 -6.12% $175,000 -1.13%

7 40.00% 0 -100.00% 8 14.29%

38 5 54

47 8 62

23.68% 60.00% 14.81%

$215,500 N/A $215,000

$329,900 53.09% $229,000 N/A N/A $132,500 $289,450 34.63% $222,700

$232,000 $141,225 $224,000

1.31% 6.58% 0.58%

CLINTON 1 Family Condo All Sales

4.29% 34.09% 4.80%

CROMWELL 1 Family Condo All Sales

5 1 3 2 1

42.56% -28.00% 28.29%

DEEP RIVER 1 Family Condo All Sales

5 1 7

DURHAM 1 Family Condo All Sales

2 0 4

9 0 10

350.00% N/A 150.00%

65 1 83

64 7 82

-1.54% 600.00% -1.20%

N/A N/A $285,000

$260,000 N/A $257,500

N/A $275,000 N/A N/A -9.65% $260,000

$297,000 $229,000 $283,950

8.00% N/A 9.21%

10 0 21

42.86% N/A 90.91%

91 1 126

107 5 157

17.58% 400.00% 24.60%

$255,000 N/A $255,000

$307,000 20.39% $235,000 N/A N/A N/A $275,000 7.84% $225,000

$216,000 $150,000 $205,000

-8.09% N/A -8.89%

1 0 2 1 3

10 3 14

0.00% 50.00% 7.69%

114 12 151

165 29 215

44.74% 141.67% 42.38%

$177,000 N/A $194,000

$267,250 $134,900 $247,250

50.99% $236,750 N/A $122,500 27.45% $230,000

$241,900 $146,000 $229,000

2.18% 19.18% -0.43%

1 3 0 1 4

6 1 11

-53.85% N/A -21.43%

79 11 104

69 15 109

-12.66% 36.36% 4.81%

$385,000 N/A $360,000

$282,000 -26.75% $370,000 N/A N/A $208,000 $262,000 -27.22% $317,250

$369,500 $222,000 $295,000

-0.14% 6.73% -7.01%

4 0 1 0

9 0 13

125.00% N/A 30.00%

70 0 105

75 0 107

7.14% N/A 1.90%

$202,000 N/A $145,000

$280,000 38.61% $277,000 N/A N/A N/A $280,000 93.10% $259,000

$255,000 -7.94% N/A N/A $234,000 -9.65%

4 0 4

-50.00% N/A -60.00%

71 0 106

67 0 74

-5.63% N/A -30.19%

$380,000 N/A $367,500

$325,000 -14.47% $361,500 N/A N/A N/A $325,000 -11.56% $340,000

$355,000 -1.80% N/A N/A $357,500 5.15%

41 6 62

46 4 57

12.20% -33.33% -8.06%

$188,750 N/A $170,000

EAST HADDAM 1 Family Condo All Sales

7 0 1 1

EAST HAMPTON 1 Family Condo All Sales

ESSEX 1 Family Condo All Sales

HADDAM 1 Family Condo All Sales

KILLINGWORTH 1 Family Condo All Sales

8 0 1 0

MIDDLEFIELD 1 Family Condo All Sales

4 2 7

2 -50.00% 0 -100.00% 2 -71.43%

N/A -100.00% $209,900 N/A N/A $200,000 N/A -100.00% $209,950

$245,000 $286,726 $240,000

16.72% 43.36% 14.31%

MIDDLETOWN 1 Family Condo All Sales

2 5 9 3 7

28 8 40

12.00% -11.11% 8.11%

295 105 463

333 118 524

12.88% 12.38% 13.17%

$210,200 $101,000 $178,000

$175,000 $97,000 $161,000

-16.75% -3.96% -9.55%

$215,000 $112,000 $185,000

$193,500 -10.00% $114,000 1.79% $169,450 -8.41%

13 1 24

62.50% N/A 100.00%

154 15 206

195 26 257

26.62% 73.33% 24.76%

$270,500 N/A $252,500

$355,000 31.24% $345,000 N/A N/A $335,000 $265,000 4.95% $337,500

$340,000 $347,000 $330,000

9 0 10

28.57% N/A 0.00%

91 15 127

107 19 152

17.58% 26.67% 19.69%

$234,500 N/A $232,250

$193,100 -17.65% $225,000 N/A N/A $175,000 $191,050 -17.74% $220,000

$202,000 -10.22% $170,000 -2.86% $198,750 -9.66%

OLD SAYBROOK 1 Family Condo All Sales

8 0 1 2

-1.45% 3.58% -2.22%

PORTLAND 1 Family Condo All Sales

7 0 1 0

30 | THE COMMERCIAL RECORD | FEBRUARY 2016

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES DEC 2014

DEC %CHG 2014 2015 14-15 YTD

MEDIAN PRICE

2015 YTD

%CHG 14-15

DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

17 1 35

15 1 30

-11.76% 0.00% -14.29%

$257,000 N/A $257,000

$340,000 32.30% $278,500 N/A N/A N/A $340,000 32.30% $155,000

$325,000 16.70% N/A N/A $195,000 25.81%

16.38% 1,376 -36.67% 306 11.17% 2,081

1,612 370 2,367

17.15% 20.92% 13.74%

$243,250 $123,000 $219,900

$260,000 $104,000 $245,000

$249,900 $135,000 $228,000

WESTBROOK 1 Family Condo All Sales

3 0 3

7 0 7

133.33% N/A 133.33%

MIDDLESEX COUNTY 1 Family Condo All Sales

1 16 3 0 1 79

135 19 199

6.89% -15.45% 11.41%

$254,000 $131,000 $234,500

-1.61% 3.05% -2.77%

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FEBRUARY 2016 | THE COMMERCIAL RECORD | 31

TRENDLINES

NEW HAVEN COUNTY SALES REPORT

NUMBER OF SALES DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 YTD

MEDIAN PRICE %CHG 14-15

DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

ANSONIA 1 Family Condo All Sales

1 2 0 1 9

9 1 12

-25.00% N/A -36.84%

107 3 161

128 4 209

19.63% 33.33% 29.81%

$145,000 N/A $150,000

$166,500 14.83% $170,000 N/A N/A $1 $167,500 11.67% $173,500

$167,000 -1.76% $97,600 9759900.00% $160,550 -7.46%

2 3 1 0

5 4 12

150.00% 33.33% 20.00%

52 19 104

48 20 91

-7.69% 5.26% -12.50%

N/A $134,000 $214,500

$287,500 N/A $260,000 $463,659 246.01% $206,000 $386,500 80.19% $221,750

$219,500 -15.58% $317,488 54.12% $249,000 12.29%

2 0 4

1 0 2

-50.00% N/A -50.00%

40 0 48

40 0 45

17 22 49

6.25% 46.67% 19.51%

168 158 385

1 6 4 2 0

17 6 28

6.25% 50.00% 40.00%

6 3 1 2

4 3 11

BEACON FALLS 1 Family Condo All Sales

BETHANY 1 Family Condo All Sales

0.00% N/A -6.25%

N/A N/A $221,250

N/A N/A $309,500 N/A N/A N/A N/A -100.00% $298,950

$337,025 8.89% N/A N/A $339,000 13.40%

208 194 483

23.81% 22.78% 25.45%

$283,500 $155,000 $202,500

$295,000 $125,000 $213,000

4.06% -19.35% 5.19%

$301,125 $165,000 $230,000

$315,975 4.93% $147,775 -10.44% $234,000 1.74%

249 62 374

304 64 411

22.09% 3.23% 9.89%

$290,000 $199,750 $270,000

$279,900 $155,700 $269,250

-3.48% -22.05% -0.28%

$319,000 $177,000 $290,000

$315,000 -1.25% $152,750 -13.70% $288,000 -0.69%

-33.33% 0.00% -8.33%

59 40 130

79 37 161

33.90% -7.50% 23.85%

$177,500 $131,325 $147,500

$188,500 $132,000 $153,900

6.20% 0.51% 4.34%

$159,000 $129,000 $145,000

$161,000 $130,000 $138,600

1.26% 0.78% -4.41%

26 4 31

18.18% -50.00% -6.06%

247 86 362

283 74 392

14.57% -13.95% 8.29%

$153,750 $141,500 $159,900

$170,450 $162,500 $170,000

10.86% 14.84% 6.32%

$170,000 $117,750 $160,000

$178,000 $126,750 $174,000

4.71% 7.64% 8.75%

1 4 2 1 8

32 2 38

128.57% 0.00% 111.11%

219 40 297

273 33 348

24.66% -17.50% 17.17%

$342,250 N/A $319,750

$312,450 N/A $309,950

-8.71% $375,000 N/A $180,000 -3.06% $337,500

$356,000 $233,500 $345,000

-5.07% 29.72% 2.22%

3 6 7 5 3

34 6 48

-5.56% -14.29% -9.43%

401 93 569

443 109 642

10.47% 17.20% 12.83%

$213,500 $123,000 $200,000

$156,500 $100,750 $161,000

$193,000 $119,000 $178,750

-8.05% -0.83% -4.41%

1 2 2 1 8

18 1 19

50.00% -50.00% 5.56%

210 17 250

250 21 303

19.05% 23.53% 21.20%

$474,250 N/A $412,500

$400,000 -15.66% $435,500 N/A N/A $337,700 $385,000 -6.67% $428,000

$399,500 -8.27% $237,000 -29.82% $392,500 -8.29%

3 2 1 3 5 9

56 10 89

75.00% -23.08% 50.85%

351 86 534

490 112 768

39.60% 30.23% 43.82%

$140,000 $109,000 $120,550

$147,500 $67,500 $138,000

$150,000 $91,425 $135,000

5 -16.67% 0 -100.00% 7 -46.15%

66 16 111

77 18 131

16.67% 12.50% 18.02%

$306,950 N/A $333,900

$266,000 -13.34% $307,951 N/A N/A $404,500 $266,000 -20.34% $330,000

$275,000 -10.70% $369,000 -8.78% $300,000 -9.09%

BRANFORD 1 Family Condo All Sales

1 6 1 5 4 1

CHESHIRE 1 Family Condo All Sales

DERBY 1 Family Condo All Sales

EAST HAVEN 1 Family Condo All Sales

2 2 8 3 3

GUILFORD 1 Family Condo All Sales

HAMDEN 1 Family Condo All Sales

-26.70% -18.09% -19.50%

$209,900 $120,000 $187,000

MADISON 1 Family Condo All Sales

MERIDEN 1 Family Condo All Sales

5.36% -38.07% 14.48%

$150,000 $96,000 $137,000

0.00% -4.77% -1.46%

MIDDLEBURY 1 Family Condo All Sales

6 2 1 3

MILFORD 1 Family Condo All Sales

5 0 1 8 7 6

30 9 46

-40.00% -50.00% -39.47%

482 154 734

467 157 715

-3.11% 1.95% -2.59%

$274,250 $225,500 $266,000

$261,250 $124,000 $237,000

-4.74% -45.01% -10.90%

$283,700 $194,000 $264,000

$270,000 $185,000 $259,000

-4.83% -4.64% -1.89%

22 7 40

15.79% 40.00% 17.65%

224 58 349

297 63 440

32.59% 8.62% 26.07%

$129,900 $94,000 $125,000

$155,000 $85,000 $128,273

19.32% -9.57% 2.62%

$149,950 $70,500 $140,000

$155,000 3.37% $60,500 -14.18% $135,000 -3.57%

NAUGATUCK 1 Family Condo All Sales

1 9 5 3 4

32 | THE COMMERCIAL RECORD | FEBRUARY 2016

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES DEC 2014

DEC %CHG 2014 2015 14-15 YTD

MEDIAN PRICE

2015 YTD

%CHG 14-15

DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

NEW HAVEN 1 Family Condo All Sales

2 4 8 6 2

30 14 92

25.00% 75.00% 48.39%

268 142 753

318 158 893

18.66% 11.27% 18.59%

$185,000 $95,225 $172,000

$161,250 $60,703 $145,500

-12.84% -36.25% -15.41%

$174,900 $111,500 $153,000

$160,101 $120,000 $155,000

-8.46% 7.62% 1.31%

14 27.27% 0 -100.00% 17 0.00%

98 20 141

125 29 179

27.55% 45.00% 26.95%

$288,500 $169,900 $288,500

$227,500 -21.14% N/A -100.00% $227,000 -21.32%

$264,000 $159,750 $254,000

$255,000 $159,800 $239,000

-3.41% 0.03% -5.91%

1 4 1 2 5

21 1 29

50.00% 0.00% 16.00%

209 31 284

246 28 312

17.70% -9.68% 9.86%

$239,075 N/A $245,000

$262,500 N/A $250,000

9.80% $263,000 N/A $210,000 2.04% $262,000

$265,000 $232,900 $262,250

0.76% 10.90% 0.10%

1 1 1 1 3

16 1 18

45.45% 0.00% 38.46%

137 5 170

156 13 195

13.87% 160.00% 14.71%

$320,000 N/A $320,000

$312,450 N/A $318,150

-2.36% $338,000 N/A $373,597 -0.58% $356,000

$344,700 $432,887 $355,000

1.98% 15.87% -0.28%

7 4 1 4

11 1 18

57.14% -75.00% 28.57%

99 26 175

103 38 191

4.04% 46.15% 9.14%

$367,500 $380,270 $375,000

$310,000 -15.65% N/A -100.00% $315,000 -16.00%

$309,900 $378,245 $335,000

$303,500 $372,498 $345,000

-2.07% -1.52% 2.99%

11 2 13

37.50% 0.00% -7.14%

74 12 114

113 20 164

52.70% 66.67% 43.86%

$217,000 N/A $253,250

$207,500 -4.38% $228,300 N/A N/A $333,953 $207,500 -18.07% $246,000

$260,000 $333,500 $265,950

13.89% -0.14% 8.11%

12 4 19

-14.29% 100.00% 18.75%

125 35 200

151 34 229

20.80% -2.86% 14.50%

$213,000 N/A $213,000

$212,500 $97,500 $181,000

-0.23% $215,000 N/A $99,000 -15.02% $194,500

$215,000 $96,750 $189,000

0.00% -2.27% -2.83%

10 21 32

0.00% 40.00% 0.00%

115 213 365

159 233 438

38.26% 9.39% 20.00%

$335,175 $210,000 $250,000

$337,500 $96,000 $162,000

0.69% -54.29% -35.20%

$332,900 $112,500 $165,000

$350,000 $120,000 $180,000

5.14% 6.67% 9.09%

20 11 40

-16.67% 57.14% 5.26%

307 124 535

340 134 558

10.75% 8.06% 4.30%

$244,000 $210,000 $226,750

$212,250 $157,500 $206,000

-13.01% -25.00% -9.15%

$235,000 $167,500 $222,500

$245,000 $165,000 $230,000

4.26% -1.49% 3.37%

35.56% 497 -31.58% 203 7.45% 1,016

624 231 1,179

25.55% 13.79% 16.04%

$100,700 $43,000 $89,950

$85,575 $57,900 $85,000

-15.02% 34.65% -5.50%

$99,900 $61,000 $83,000

$95,000 -4.90% $45,000 -26.23% $75,000 -9.64%

NORTH BRANFORD 1 Family Condo All Sales

1 1 3 1 7

NORTH HAVEN 1 Family Condo All Sales

ORANGE 1 Family Condo All Sales

OXFORD 1 Family Condo All Sales

PROSPECT 1 Family Condo All Sales

8 2 1 4

SEYMOUR 1 Family Condo All Sales

1 4 2 1 6

SOUTHBURY 1 Family Condo All Sales

1 0 1 5 3 2

WALLINGFORD 1 Family Condo All Sales

2 4 7 3 8

WATERBURY 1 Family Condo All Sales

4 5 1 9 9 4

61 13 101

WEST HAVEN 1 Family Condo All Sales

2 8 5 4 0

42 4 61

50.00% -20.00% 52.50%

303 62 457

386 84 587

27.39% 35.48% 28.45%

$155,000 $115,000 $155,000

$169,000 $149,500 $170,000

9.03% 30.00% 9.68%

$165,000 $124,250 $163,000

$155,000 -6.06% $100,000 -19.52% $152,000 -6.75%

9 -40.00% 0 -100.00% 14 -46.15%

126 20 176

168 15 207

33.33% -25.00% 17.61%

$173,000 $150,150 $172,750

$203,000 17.34% N/A -100.00% $215,000 24.46%

$189,000 $223,500 $192,950

$197,500 $276,000 $200,000

10 0 12

92 0 105

122 0 133

32.61% N/A 26.67%

$362,500 N/A $362,500

$276,500 -23.72% $397,750 N/A N/A N/A $276,500 -23.72% $395,000

$377,750 -5.03% N/A N/A $377,500 -4.43%

18.04% 5,325 -3.92% 1,725 11.55% 8,899

6,398 1,923 10,404

20.15% 11.48% 16.91%

$202,425 $142,000 $189,000

$202,000 $114,000 $175,850

$215,000 $126,600 $185,000

WOLCOTT 1 Family Condo All Sales

1 5 4 2 6

4.50% 23.49% 3.65%

WOODBRIDGE 1 Family Condo All Sales

4 0 4

150.00% N/A 200.00%

NEW HAVEN COUNTY 1 Family Condo All Sales

4 60 1 53 8 05

543 147 898

-0.21% -19.72% -6.96%

$220,000 $134,025 $190,000

-2.27% -5.54% -2.63%

FEBRUARY 2016 | THE COMMERCIAL RECORD | 33

TRENDLINES

NEW LONDON COUNTY SALES REPORT

NUMBER OF SALES DEC 2014

DEC %CHG 2014 2015 14-15 YTD

MEDIAN PRICE

2015 YTD

%CHG 14-15

16 0 21

26 0 34

62.50% N/A 61.90%

0.00% 200.00% 17.39%

116 19 169

158 25 215

36.21% 31.58% 27.22%

16 23.08% 0 -100.00% 22 -15.38%

221 57 346

198 55 338

-10.41% -3.51% -2.31%

9 0 22

17 0 34

53 14 83

62 7 90

16.98% -50.00% 8.43%

DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

BOZRAH 1 Family Condo All Sales

1 0 1

1 0 2

0.00% N/A 100.00%

N/A N/A N/A

N/A N/A N/A

N/A $183,950 N/A N/A N/A $153,252

$161,500 -12.20% N/A N/A $173,750 13.38%

COLCHESTER 1 Family Condo All Sales

1 7 1 2 3

17 3 27

$260,000 N/A $250,000

$235,000 $66,500 $180,000

-9.62% $234,500 N/A $144,000 -28.00% $219,000

$264,000 $189,000 $253,200

$366,500 38.83% N/A -100.00% $332,000 31.12%

$222,000 $155,000 $217,000

-5.33% 7.64% -0.91%

$295,500 $188,000 $245,000

9.28% -7.84% -2.00%

EAST LYME 1 Family Condo All Sales

1 3 6 2 6

$270,400 $204,000 $250,000

FRANKLIN 1 Family Condo All Sales

0 0 2

2 0 3

N/A N/A 50.00%

88.89% N/A 54.55%

N/A N/A N/A

N/A N/A $74,458

N/A $155,000 N/A N/A N/A $137,000

$172,000 10.97% N/A N/A $190,000 38.69%

GRISWOLD 1 Family Condo All Sales

4 1 5

5 25.00% 0 -100.00% 7 40.00%

$129,450 N/A $111,000

$186,000 43.68% $150,000 N/A N/A $87,400 $165,500 49.10% $139,000

$164,850 9.90% $66,500 -23.91% $152,450 9.68%

$249,500 $145,000 $246,000

$247,500 $97,500 $181,250

$250,000 $126,000 $199,450

GROTON 1 Family Condo All Sales

1 8 3 3 4

22 8 36

22.22% 166.67% 5.88%

237 68 391

242 87 386

2.11% 27.94% -1.28%

-0.80% -32.76% -26.32%

$225,000 $118,000 $185,000

11.11% 6.78% 7.81%

8 0 9

7 0 10

-12.50% N/A 11.11%

71 0 105

64 0 92

-9.86% N/A -12.38%

$188,200 N/A $176,400

$241,000 28.06% $210,000 N/A N/A N/A $223,325 26.60% $200,000

$202,500 -3.57% N/A N/A $181,000 -9.50%

1 5 1 1 8

22 1 28

46.67% 0.00% 55.56%

177 6 216

200 13 240

12.99% 116.67% 11.11%

$206,000 N/A $198,250

$174,500 -15.29% $219,500 N/A N/A $92,300 $142,450 -28.15% $210,250

$195,000 -11.16% $70,000 -24.16% $189,950 -9.66%

2 0 3

7 0 10

250.00% N/A 233.33%

41 0 59

44 0 65

7.32% N/A 10.17%

N/A N/A $175,000

$175,000 N/A $175,000 N/A N/A N/A $157,450 -10.03% $165,000

$184,000 5.14% N/A N/A $170,000 3.03%

1 0 5

1 0 1

0.00% N/A -80.00%

21 0 39

20 1 36

-4.76% N/A -7.69%

N/A N/A $130,000

N/A N/A $615,000 N/A N/A N/A N/A -100.00% $300,000

$484,500 -21.22% N/A N/A $432,000 44.00%

16 1 21

45.45% 0.00% 50.00%

122 15 181

163 8 204

33.61% -46.67% 12.71%

$187,000 N/A $184,500

$178,950 -4.30% $165,000 N/A N/A $45,000 $160,000 -13.28% $149,555

$170,000 $49,000 $163,250

10 1 21

66.67% -50.00% 61.54%

102 29 208

179 30 310

75.49% 3.45% 49.04%

$170,000 N/A $165,000

$149,250 -12.21% $163,750 N/A N/A $122,900 $125,000 -24.24% $148,725

$145,000 -11.45% $69,500 -43.45% $137,250 -7.72%

37 0 58

75 0 102

102.70% N/A 75.86%

$275,000 N/A $275,000

$286,200 N/A $267,500

$219,000 0.92% N/A N/A $217,500 8.34%

156 48 266

209 45 354

33.97% -6.25% 33.08%

$123,000 N/A $121,500

$77,700 $63,600 $58,500

LEBANON 1 Family Condo All Sales

LEDYARD 1 Family Condo All Sales

LISBON 1 Family Condo All Sales

LYME 1 Family Condo All Sales

MONTVILLE 1 Family Condo All Sales

1 1 1 1 4

3.03% 8.89% 9.16%

NEW LONDON 1 Family Condo All Sales

6 2 1 3

NORTH STONINGTON 1 Family Condo All Sales

3 0 3

4 0 5

1 4 2 1 8

17 6 38

33.33% N/A 66.67%

4.07% $217,000 N/A N/A -2.73% $200,750

NORWICH 1 Family Condo All Sales

21.43% 200.00% 111.11%

34 | THE COMMERCIAL RECORD | FEBRUARY 2016

-36.83% $125,000 N/A $110,500 -51.85% $114,850

$102,000 -18.40% $90,000 -18.55% $92,468 -19.49%

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 YTD

MEDIAN PRICE %CHG 14-15

DEC 2014

$317,500

DEC %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

OLD LYME 1 Family

1 0

2

Condo

0

0

1 4

2

1 Family

4

3

Condo

0

0

5

4

1 Family

3

3

Condo

0

1

7

6

1 Family

2

3

Condo

0

0

3

4

All Sales

-80.00%

125

96

-23.20%

3

4

33.33%

-85.71%

161

130

-19.25%

$295,000

-25.00%

40

68

70.00%

$184,000

3

1

-66.67%

-20.00%

65

91

40.00%

$166,000

$211,500

27.41%

$176,000

$180,000

0.00%

31

43

38.71%

$259,000

$272,000

5.02%

$260,000

$255,900

-1.58%

3

3

0.00%

$40,000

$53,000

32.50%

-14.29%

48

60

25.00%

$229,950

$236,500

2.85%

50.00%

21

25

19.05%

N/A $156,000

$179,400

15.00%

0

0

33.33%

32

33

3.13%

$85,000

$91,500

7.65%

$123,500

$165,000

$290,000

$325,000

12.07%

$296,000

$310,000

4.73%

N/A $315,000

$402,000

27.62%

$290,000

11.54%

N/A

N/A

N/A -100.00% N/A

$325,000

$400,000

23.08%

N/A $245,000

$392,500

60.20%

$305,000

$377,083

23.63%

$209,000

$183,950 -11.99%

N/A -100.00%

PRESTON

All Sales

N/A

N/A

$238,000 N/A

29.35% N/A

$72,500

N/A -100.00% 2.27%

SALEM

All Sales

N/A

N/A $88,000

N/A

N/A

$181,000 105.68%

SPRAGUE

All Sales

N/A

N/A

N/A N/A

$115,000 N/A

N/A

N/A

N/A

N/A 33.60%

STONINGTON 1 Family

1 3

15

15.38%

147

193

31.29%

Condo

2

4

100.00%

19

31

63.16%

2 3

23

0.00%

241

277

14.94%

0.00%

37

27

-27.03%

0

0

0.00%

41

31

-24.39%

All Sales

N/A $272,000

$480,000 $310,000

13.97%

$260,000

VOLUNTOWN 1 Family

1

1

Condo

0

0

1

1

All Sales

N/A

N/A

N/A

N/A

N/A $210,000

N/A

N/A

N/A

N/A

N/A

N/A $209,000

N/A

$180,000 -14.29% N/A

N/A

$180,000 -13.88%

WATERFORD 1 Family

2 0

23

15.00%

249

278

11.65%

$189,950

$205,000

7.92%

$229,270

$220,400

-3.87%

Condo

4

3

-25.00%

32

52

62.50%

$132,500

$100,000

-24.53%

$137,000

$134,750

-1.64%

2 8

32

14.29%

320

368

15.00%

$181,000

$172,500

-4.70%

$211,250

$205,000

-2.96%

18.67% 2,029

All Sales

NEW LONDON COUNTY 1 Family

1 66

197

Condo

2 3

28

2 55

303

All Sales

2,387

17.64%

$222,500

$205,000

-7.87%

$219,500

$208,000

-5.24%

316

362

14.56%

$143,000

$84,250

-41.08%

$133,000

$130,000

-2.26%

18.82% 3,072

3,490

13.61%

$194,900

$166,200

-14.73%

$191,767

$190,000

-0.92%

21.74%

LOOKING FOR MORE? Our online real estate records offer a much deeper look into your markets and neighborhoods. Every Thursday, CommercialRecord.com is updated with the most recent sales, foreclosure, mortgage and credit information available from The Warren Group. Our weekly digital records are offered in a convenient, searchable PDF format, and are archived to 2001. Each PDF is organized by county, town and street to make it easy to find exactly the data you need to make informed business decisions. As a bonus, all subscribers to The Commercial Record get access to similar weekly data from Rhode Island. Simply visit www.commercialrecord.com, log in, click on the big, red “Records & Research” button in the upper left corner, and get busy putting The Commercial Record to work for you.

FEBRUARY 2016 | THE COMMERCIAL RECORD | 35

TRENDLINES

TOLLAND COUNTY SALES REPORT

NUMBER OF SALES DEC 2014

DEC %CHG 2014 2015 14-15 YTD

MEDIAN PRICE

2015 YTD

%CHG 14-15

DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

ANDOVER 1 Family Condo All Sales

4 0 4

3 0 4

-25.00% N/A 0.00%

22 0 30

34 0 44

54.55% N/A 46.67%

$211,500 N/A $211,500

$155,900 -26.29% $211,350 N/A N/A N/A $155,450 -26.50% $191,000

$219,500 3.86% N/A N/A $192,000 0.52%

4 0 5

3 0 8

-25.00% N/A 60.00%

57 0 67

48 0 65

-15.79% N/A -2.99%

$266,500 N/A $260,000

$230,000 -13.70% $235,000 N/A N/A N/A $303,250 16.63% $230,000

$233,500 -0.64% N/A N/A $219,000 -4.78%

61 1 75

85 0 106

39.34% -100.00% 41.33%

N/A N/A $172,000

$210,000 N/A $247,000 N/A N/A N/A $215,500 25.29% $235,000

$220,000 -10.93% N/A N/A $216,000 -8.09%

150 5 205

153 8 206

2.00% 60.00% 0.49%

$247,500 N/A $240,000

$252,000 N/A $250,000

$210,000 $114,800 $210,000

93 22 156

126 27 202

35.48% 22.73% 29.49%

$289,425 N/A $260,800

$308,500 $109,500 $220,400

6.59% $280,000 N/A $164,250 -15.49% $260,000

$245,250 -12.41% $116,000 -29.38% $234,000 -10.00%

72 6 99

100 2 125

38.89% -66.67% 26.26%

$288,500 N/A $288,500

$199,900 -30.71% $268,750 N/A N/A $252,250 $199,900 -30.71% $252,500

$265,700 -1.13% N/A - 100.00% $257,000 1.78%

$147,000 $171,500 $155,000

$225,000 53.06% N/A -100.00% $207,500 33.87%

$220,000 $180,000 $205,500

BOLTON 1 Family Condo All Sales

COLUMBIA 1 Family Condo All Sales

2 1 3

11 450.00% 0 -100.00% 13 333.33%

COVENTRY 1 Family Condo All Sales

1 2 0 2 3

17 0 21

41.67% N/A -8.70%

1.82% $199,000 N/A $115,900 4.17% $188,000

5.53% -0.95% 11.70%

ELLINGTON 1 Family Condo All Sales

1 2 2 1 6

11 4 21

1 0 0 1 2

3 0 3

-8.33% 100.00% 31.25%

HEBRON 1 Family Condo All Sales

-70.00% N/A -75.00%

MANSFIELD 1 Family Condo All Sales

9 4 1 7

11 1 15

22.22% -75.00% -11.76%

105 30 193

108 29 166

2.86% -3.33% -13.99%

$225,000 $171,500 $180,000

-2.22% 4.96% 14.17%

7 1 1 0

11 57.14% 0 -100.00% 16 60.00%

83 5 109

93 3 130

12.05% $236,900 $293,000 -40.00% 19.27% $247,825 $266,500

1 0 0 1 3

8 2 15

-20.00% N/A 15.38%

108 18 160

114 16 167

5.56% -11.11% 4.38%

$183,450 N/A $119,000

$243,750 32.87% $164,200 N/A N/A $98,500 $110,000 -7.56% $148,100

$183,000 $91,000 $156,550

11.45% -7.61% 5.71%

7 0 8

20 1 23

185.71% N/A 187.50%

156 3 186

156 10 186

0.00% 233.33% 0.00%

$185,000 N/A $204,750

$191,150 N/A $195,300

$254,500 $142,250 $242,000

4.33% -3.23% 0.31%

1 0 2

1 0 2

0.00% N/A 0.00%

7 0 11

8 0 13

N/A N/A N/A

N/A N/A N/A

2 0 6 2 9

22 8 36

10.00% 33.33% 24.14%

219 86 366

258 96 419

17.81% 11.63% 14.48%

5 400.00% 0 -100.00% 8 166.67%

39 7 56

55 3 68

41.03% -57.14% 21.43%

27.27% 1,172 0.00% 183 27.59% 1,713

1,338 194 1,897

14.16% 6.01% 10.74%

SOMERS 1 Family Condo All Sales

23.68% $260,000 N/A $390,200 7.54% $259,900

$262,000 0.77% $345,000 -11.58% $263,000 1.19%

STAFFORD 1 Family Condo All Sales

TOLLAND 1 Family Condo All Sales

3.32% $243,930 N/A $147,000 -4.62% $241,250

UNION 1 Family Condo All Sales

14.29% N/A 18.18%

N/A $205,000 N/A N/A N/A $189,900

$209,500 2.20% N/A N/A $165,000 -13.11%

VERNON 1 Family Condo All Sales

$193,500 $131,000 $182,000

$183,100 $82,050 $156,700

-5.37% -37.37% -13.90%

$184,000 $144,200 $174,000

$181,100 -1.58% $113,750 -21.12% $160,000 -8.05%

$150,000 N/A $207,000 N/A N/A $120,000 $143,250 347.66% $203,750

$200,600 -3.09% $107,000 -10.83% $189,950 -6.77%

$210,000 $104,450 $196,000

$219,000 -0.45% $116,300 -16.15% $204,000 -0.49%

WILLINGTON 1 Family Condo All Sales

1 2 3

N/A N/A $32,000

TOLLAND COUNTY 1 Family Condo All Sales

9 9 1 6 1 45

126 16 185

36 | THE COMMERCIAL RECORD | FEBRUARY 2016

$216,500 $131,000 $200,000

-3.00% -20.27% -2.00%

$220,000 $138,700 $205,000

TRENDLINES

WINDHAM COUNTY SALES REPORT

NUMBER OF SALES DEC 2014

DEC %CHG 2014 2015 14-15 YTD

MEDIAN PRICE

2015 YTD

%CHG 14-15

38 0 46

30 1 40

-21.05% N/A -13.04%

88 6 145

123 6 164

DEC 2014

DEC %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

ASHFORD 1 Family Condo All Sales

4 0 5

2 0 2

-50.00% N/A -60.00%

$115,000 N/A -100.00% $159,450 N/A N/A N/A N/A $125,000 -100.00% $159,450

$173,000 8.50% N/A N/A $167,000 4.74%

39.77% 0.00% 13.10%

$218,000 N/A $197,000

$139,950 -35.80% $198,500 N/A N/A $239,000 $139,950 -28.96% $181,000

$178,000 -10.33% $228,500 -4.39% $175,000 -3.31%

$156,000 N/A $159,450

$183,000 17.31% $162,000 N/A N/A N/A $183,000 14.77% $162,000

$185,000 14.20% N/A N/A $181,000 11.73%

N/A N/A N/A $160,000 N/A N/A N/A N/A $105,000 -100.00% $105,000

$154,000 -3.75% N/A N/A $145,000 38.10%

BROOKLYN 1 Family Condo All Sales

1 1 2 2 3

8 -27.27% 0 -100.00% 10 -56.52%

CANTERBURY 1 Family Condo All Sales

3 0 4

6 0 8

100.00% N/A 100.00%

34 0 50

55 0 71

61.76% N/A 42.00%

2 0 5

2 0 2

0.00% N/A -60.00%

12 0 21

25 1 32

108.33% N/A 52.38%

1 0 6

-50.00% N/A 200.00%

14 0 22

13 0 31

-7.14% N/A 40.91%

N/A N/A N/A

2 0 4

N/A N/A -20.00%

13 0 22

14 0 27

7.69% N/A 22.73%

N/A N/A $75,000

CHAPLIN 1 Family Condo All Sales

EASTFORD 1 Family Condo All Sales

2 0 2

N/A N/A $106,667

N/A $152,500 N/A N/A N/A $144,950

$195,000 27.87% N/A N/A $195,000 34.53%

N/A N/A $190,000 N/A N/A N/A $205,500 174.00% $146,000

$208,750 9.87% N/A N/A $194,000 32.88%

HAMPTON 1 Family Condo All Sales

0 0 5

KILLINGLY 1 Family Condo All Sales

2 0 1 3 3

16 1 22

-20.00% 0.00% -33.33%

168 16 265

148 20 228

-11.90% 25.00% -13.96%

$119,500 N/A $109,000

$139,500 16.74% $148,750 N/A N/A $124,000 $157,500 44.50% $136,000

$157,000 $113,750 $139,950

5.55% -8.27% 2.90%

1 5 0 2 1

10 0 16

-33.33% N/A -23.81%

149 5 229

130 3 193

-12.75% -40.00% -15.72%

$139,000 N/A $118,000

$154,200 10.94% $149,500 N/A N/A $82,500 $154,200 30.68% $145,000

$140,000 $74,700 $135,900

-6.35% -9.45% -6.28%

5 0 9

6 0 8

20.00% N/A -11.11%

26 1 56

37 0 70

42.31% -100.00% 25.00%

$258,000 N/A $220,000

$233,500 N/A $233,500

$266,000 4.21% N/A N/A $211,000 17.55%

5 3 1 2

9 5 17

80.00% 66.67% 41.67%

66 29 134

79 24 138

19.70% -17.24% 2.99%

$129,000 $195,000 $128,000

$132,500 $141,000 $130,000

3 0 3

N/A N/A 200.00%

15 0 20

23 0 32

53.33% N/A N/A N/A 60.00%

$198,000 N/A $198,000

N/A $188,000 N/A N/A N/A $160,450

$170,000 -9.57% N/A N/A $163,000 1.59%

4 0 5

300.00% N/A 400.00%

26 2 45

51 3 72

96.15% 50.00% 60.00%

N/A N/A N/A

$232,500 N/A $195,000

N/A $161,000 N/A N/A N/A $144,000

$175,000 $70,000 $163,850

8.70% N/A 13.78%

1 5 0 1 8

10 0 13

-33.33% N/A -27.78%

107 2 149

99 3 136

-7.48% 50.00% -8.72%

$135,900 N/A $117,500

$137,450 1.14% $160,000 N/A N/A N/A $134,900 14.81% $145,000

$193,000 $130,000 $173,500

20.63% N/A 19.66%

1 1 0 1 7

7 0 14

-36.36% N/A -17.65%

117 4 208

126 5 195

7.69% $104,000 $125,000 25.00% -6.25% $89,500 $113,500

12 0 20

71.43% N/A 100.00%

86 11 132

111 9 161

29.07% -18.18% 21.97%

-2.97% 959 0.00% 76 -9.64% 1,544

1,064 75 1,590

10.95% -1.32% 2.98%

PLAINFIELD 1 Family Condo All Sales

POMFRET 1 Family Condo All Sales

-9.50% $255,250 N/A N/A 6.14% $179,500

PUTNAM 1 Family Condo All Sales

2.71% -27.69% 1.56%

$149,250 $178,000 $150,000

$150,000 $163,750 $145,000

0.50% -8.01% -3.33%

SCOTLAND 1 Family Condo All Sales

0 0 1

STERLING 1 Family Condo All Sales

1 0 1

THOMPSON 1 Family Condo All Sales

WINDHAM 1 Family Condo All Sales

20.19% $134,500 N/A $109,000 26.82% $115,000

$119,900 -10.86% $119,000 9.17% $115,000 0.00%

WOODSTOCK 1 Family Condo All Sales

7 0 1 0

$321,900 N/A $272,500

$230,500 -28.39% $218,500 N/A N/A $86,400 $221,000 -18.90% $189,500

$229,500 $140,000 $210,000

5.03% 62.04% 10.82%

$150,000 $202,500 $137,400

$165,000 $160,500 $151,750

$166,500 $137,100 $154,700

4.13% 1.18% 6.21%

WINDHAM COUNTY 1 Family Condo All Sales

1 01 6 1 66

98 6 150

10.00% -20.74% 10.44%

$159,900 $135,500 $145,650

FEBRUARY 2016 | THE COMMERCIAL RECORD | 37

GOSSIP REPORT

WESTPORT ADDRESS: 4 Manitou Road, Westport

1

PRICE: $4,500,000 SIZE: 5,976 square feet on 2 acres BUYER: Bonnie N. Edelman and John G. Edelman SELLER: Stephen E. Meyers SOLD: 1/13/2016

DARIEN

2

ADDRESS: 304 Brookside Road, Darien PRICE: $4,075,000 SIZE: 5,559 square feet on 2.29 acres BUYER: Ryan R. Bekkerus and Audra L. Noble SELLER: Amy Warnock and Robert Warnock SOLD: 12/21/2015

WESTPORT

3

ADDRESS: 3 Moss Ledge Road, Westport PRICE: $3,575,000 SIZE: 8,948 square feet on 1.02 acres BUYER: BH Westport LLC SELLER: Nest Moss Ledge LLC SOLD: 12/21/2015

5

4

STAMFORD

4

ADDRESS: 194 Davenport Drive, Stamford PRICE: $3,500,000

2

SIZE: 5,500 square feet on 0.68 acres

1 3

BUYER: Bhagest Malde and Mala Malde SELLER: WCJ LLC SOLD: 1/15/2016

The largest home in this month’s list is also the newest and the third most expensive. This newly-built home on Hunt Club acre has a cedarshingle roof, a three-car garage and an in-ground swimming pool. The large, open kitchen features custom cabinets and counters, marble galley and all Waterworks fixtures. Of the six bedrooms, five of them are ensuite. There’s even a media room, a wine closet, a glass-walled gym and a full bath with steam in the basement level.

38 | THE COMMERCIAL RECORD | FEBRUARY 2016

OLD SAYBROOK ADDRESS: 18 Pettipaug Ave., Old Saybrook PRICE: $2,825,000 SIZE: 1,902 square feet on 1.3 acres BUYER: Christopher M. Millard SELLER: Alan E. Levi and Renee A. Levi AGENT: Douglas S. Reigeluth SOLD: 1/7/2016

5

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FEBRUARY 2016 | THE COMMERCIAL RECORD | 39