The Commercial Record - February 2018 by The Warren Group

FEBRUARY 2018

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REAL ESTATE & FINANCIAL NEWS FOR CONNECTICUT

2017 BROUGHT GROWTH ACROSS THE STATE Expect to See Bank M&As Slow in 2018 The Perils and Pitfalls of a Career in Commercial Banking

Norwalk Mega Mall Will Challenge Downtown FEBRUARY 2018 | THE COMMERCIAL RECORD | 1 Shopping Districts

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2 | THE COMMERCIAL RECORD | FEBRUARY 2018

inside

M&As to Slow

As regulatory relief and tax reform begins to ease the pressure on â&#x20AC;&#x201C; and the margins at â&#x20AC;&#x201C; community banks, the economic imperative to merge is expected to wane.

Bucking a Trend The SoNo Collection, a 700,000-square-foot mega mall, is scheduled for completion in Norwalk in late 2019. The giant development will challenge downtown shopping districts at a time when consumers are moving away from shopping malls.

10 Year in Review It may be that 2017 is remembered as the year the real estate recovery finally got a foothold in Connecticut. The state closed the year up in sales and median sale prices.

14 Women in Banking In reposnse to an article about women in commercial banking, a survey was conducted about gender equality in New England's banking industry. The results are illuminating, if not particularly surprising.

6 8

state statistics

12 c-changes 13 in person 16 news roundup 18 top commercial transactions 20 trendlines

34 gossip report

FEBRUARY 2018 | THE COMMERCIAL RECORD | 3

M&A Activity

QUIET YEAR EXPECTED FOR BANK MERGERS AND ACQUISITIONS With Regulatory Relief Coming, Mutual Banks no Longer in Pinch

BY BRAM BERKOWITZ | COMMERCIAL RECORD STAFF

ompanies across a variety of industries are expecting larger deals and a pickup in merger and acquisitions in 2018 – but in the banking world, experts predict the opposite.

“Most community banks that may have been considering selling previously may not sell,” said Arthur Loomis, president

of Loomis & Co., a New York-based investment bank that has worked with community banks in the Northeast on

4 | THE COMMERCIAL RECORD | FEBRUARY 2018

stock conversions and mergers and acquisitions. “We are expecting less M&A activity in New England in 2018. The same for mutuals, too.” One major explanation is continuing favorable macroeconomic trends; the country likely has another year or two of vibrant economic growth before the

business cycle turns, Loomis said. And as banks expect to pay much less in taxes and regulatory compliance costs in the near future, they can also expect to boost earnings, making themselves more attractive purchases in a year or two. “The astute seller probably does not sell now, unless it is for cash,” said Loomis, while noting that there are always exceptions. Recent analysis from the American Bankers Association found that bank M&As, unlike other industries, have not been as active as of late. Bank deal activity in 2017 was similar to 2016, with about 200 deals, representing roughly the same 3.5 percent to 4 percent annual shrinkage of bank charters that has occurred since the financial crisis. The ABA anticipates a steady, but not over-heated environment in 2018, with activity mostly concentrated in the community bank sector.

Wait and See Demand for acquisition is strong, but banks are typically sold and not bought. According to Loomis, target banks should be able to grow their earnings between 8 percent to 15 percent per year for the next two years. This increase, combined with a typically smaller correction or decline in their change of control value, is expected to result in more favorable stock exchange ratio for sellers when the ultimate economic recession occurs. That is because, based upon past precedent, acquirer stock prices will tumble more than the change of control value to sellers when the next business cycle bottoms and begins to improve, said Loomis. On the mutual side, many banks will be more focused on regulatory relief, which has been a primary reason many have merged since the financial crisis. Mergers and acquisitions by U.S. banks surged last year to about $18 billion in 2015, the highest level since 2009. That number was even larger in 2016, according to data compiled by Bloomberg. According to an FDIC report, 1,106 community banks were acquired between 2010 and 2016, And the number of banks in Connecti-

“

All this pressure to affiliate is going to go away. It’s not going to be as attractive or mandatorily necessary.” — Arthur Loomis, president, Loomis & Co.

cut shrank from 71 in 2009 to 62 at the end of the third quarter of 2017, according to the FDIC. Regulation is a primary contributor to the consolidation, specifically the DoddFrank Act. Dodd-Frank instituted the Volcker Rule, which prohibited banks from conducting certain investment activities such as short-term proprietary trading of securities, derivatives, commodity futures and options on their own accounts. While most small mutual banks did not engage in these activities, they still had to prove it by implementing policies to comply with the 950-page bill, not an inexpensive proposition. Connecticut community bankers said that burdensome regulations and federal supervisory processes have significantly impacted the delivery of financial products and services, said respondents to the 2017 national survey of community banks conducted by the Federal Reserve and Conference of State Bank Supervisors.

“Personnel involved in these processes are not revenue generators and, to that extent, limit a bank’s ability to remain profitable,” survey respondents said. A new bill pending in Congress would provide relief to smaller banks from Dodd-Frank – one example is exempting banks with less than $10 billion in assets and total trading assets and liabilities that are 5 percent or less of total consolidated assets from the Volcker Rule. “In addition to the rising tide of macroeconomic elements, regulatory burden is easing. Up to now, regulation has been analogous to a very small pipe with a lot of water pressure. There were enormous regulatory compliance costs, which small banks, mutual or stock had difficulty absorbing, thereby creating an urge to merge,” said Loomis. “Now, all this pressure to affiliate is going to go away. … It’s not going to be as attractive or mandatorily necessary.” ■ Email: bberkowitz@thewarrengroup.com

FEBRUARY 2018 | THE COMMERCIAL RECORD | 5

Bucking a Trend

MEGAMALL LANDS IN FAIRFIELD COUNTY

New Competition for Local Shopping Districts

General Growth Properties’ SoNo Collection mall in Norwalk is scheduled for completion in late 2019. Adding more than 700,000 square feet of retail space to the Fairfield County market, it’s expected to compete head-to-head for tenants with downtown shopping districts in high-income towns such as Westport and Greenwich.

BY STEVE ADAMS | COMMERCIAL RECORD STAFF

alph Lauren, Kate Spade and Michael Kors stores have exited the scene in downtown Greenwich, the posh retail district that’s Connecticut’s answer to Rodeo Drive. The luxury clothiers are among the recent departures that have left more than 30 vacant storefronts on Greenwich Avenue, where rents for prime spaces can fetch up to $130 per square foot. Local real estate brokers said they’ve

seen such drastic fluctuations in the market before, most recently during the Great Recession. Since then, e-commerce has emerged as an ever-growing challenge to brick-and-mortar retailers. But it’s competition of a more tra-

6 | THE COMMERCIAL RECORD | FEBRUARY 2018

ditional sort that’s in play in Fairfield County: General Growth Properties’ 700,000-square-foot SoNo Collection mall now under construction in Norwalk, with more than 60 percent of its space leased in anticipation of a late 2019 grand opening. “GGP are the smartest guys in the industry and they have strong relationships with the best retailers,” said Jonathan Gordon, CEO of Bronxville, New Yorkbased Admiral Real Estate Services. “Even

if enclosed malls are struggling right now, the way they’re going to do it is going to be somewhat successful.” Chicago-based GGP is betting against the conventional wisdom in an industry where open-air lifestyle centers and mixed-use developments have dominated new projects in recent years. Nordstrom and Bloomingdale’s will anchor the $525 million Norwalk center and occupy approximately 300,000 square feet. Up to 100 shops will occupy the 343,000-squarefoot in-line spaces. The property is over 60 percent leased amid “overwhelming” community interest in the project, GGP CEO Sandeep Mathrani said during a conference call this month. GGP’s confidence in SoNo’s prospects reflects location and Fairfield County’s affluent demographics. Nearly 170,000 vehicles pass the site daily, according to GGP marketing materials. And the mall’s primary trade area of approximately 215,000 households has an average annual income of nearly $142,000. As GGP continues SoNo’s lease-up, the effects are still playing out across Fairfield County. The company hasn’t announced additional tenants beyond anchors, but it’s expected to pose direct competition to downtown districts including Greenwich and Westport. GGP acquired the 12-acre site for $35 million in 2012 and received final local approvals in 2016. “They’re dropping 770,000 square feet of new retail space in the market,” said Jessica Curtis, a senior managing director and retail broker in Newmark Knight Frank’s Stamford office. “That’s going to suck some life out of the downtowns. We can’t support that much retail.”

Westport Retail Vacancies Decline Downtown Westport is recovering from the addition of Bedford Square, a mixeduse development that opened in March 2017 and added 120,000 square feet of retail inventory to the market. Retail vacancies in Westport have declined from 16 percent at the end of 2016 to 13 percent in November 2017, according to data compiled by Admiral Real Estate Research and CoStar Analytics. But the opening of the SoNo Collection will provide another test for the mar-

Graphic courtesy of Admiral Real Estate Services/CoStar Analytics

Retail vacancies in Westport have declined from 16 percent at the end of 2016 to 13 percent in November 2017. ket, Admiral Real Estate’s Gordon said. “I imagine it’ll somewhat siphon off some of the consumer dollars, but I don’t think it’s going to be devastating,” he said. One opportunity for downtown districts is to attract more multichannel retailers that combine strong Internet presences with unique smaller showroom-type stores, Gordon said. Highend fitness chains such as Orangetheory and SoulCycle also fill some of the excess inventory. But locations can be tricky to site in some towns including Greenwich, which has zoning prohibiting fitness clubs and spas on ground floors, Curtis noted.

East Hartford Outlet Mall Hits Pause Retailers’ shrinking store footprints and decelerating new store requirements and high development costs have scaled back and delayed one of Connecticut’s most-watched projects, The Outlet Shoppes at Rentschler Field in East Hartford.

Despite offers of $24.5 million in public incentives in the form of a state grant and local tax abatements, Illinois developer Horizon Group Properties reduced the project from 348,710 to 282,000 square feet last year, or approximately 70 stores, with expansion potential to 420,000 square feet. Ground was broken in November, but halted shortly thereafter following a loss of construction financing. Horizon Group was not available for comment. The next milestone is a March 31 expiration of Horizon Group’s ground lease with property owner United Technologies. Throughout the 37.6-million-squarefoot Greater Hartford retail market, the vacancy rate was 11.1 percent in August, according to a research report by KeyPoint Partners of Burlington, Massachusetts. That’s down from the peak of 13.1 percent in 2013, with health and fitness operators posting the biggest gains by retail category. ■ Email: sadams@thewarrengroup.com

FEBRUARY 2018 | THE COMMERCIAL RECORD | 7

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

Top 5 Credit Unions Market Share: All Mortgages

2,600

American Eagle FCU | 2017 Rank: 1 | 2016 Rank:1

18.08% NUMBER OF SALES

2,080 21.85%

1,560 Charter Oak Fed Cr Un | 2017 Rank: 2 | 2016 Rank: 2

1,040

12.42%

520

12.78%

Sikorsky Fncl CU Inc | 2017 Rank: 3 | 2016 Rank: 3

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 *Statistics include sales January-December - All Years Source: The Warren Group

8.57%

Condo Sales By Price Range 8.19%

9,000 $700K+

8,100

$500k-$699k

Navy FCU | 2017 Rank: 4 | 2016 Rank: 5

$400k-$499k $300k-$399k

7,200

NUMBER OF SALES

$150k-$299k $10K-$149k

6,300 5,400

6.94%

5.85%

4,500

CT State Emp FCU | 2017 Rank: 5 | 2016 Rank: 4 3,600

5.33%

2,700 1,800

5.88%

900 0

1992

1997

2002

2007

2012

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

8 | THE COMMERCIAL RECORD || FEBRUARY FEBRUARY 2018 2018

2017

2016

*2017 MarketShare percent (of Credit Union Lenders only) thru December 2017 *2016MarketShare percent (of Credit Union Lenders only) thru December 2016

Top 5 Lenders By Market Share Purchase Mortgages

10-Year Condo Sales 13,000

Investors SB | 2017 Rank: 1 | 2016 Rank: 0

4.07%

2016 N/A

William Raveis Mtg Co | 2017 Rank: 2 | 2016 Rank:1

3.47%

NUMBER OF SALES

10,400

7,800

5,200

2,600

3.39% 0

Norcom Mortgage | 2017 Rank: 3 | 2016 Rank: 3

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 *Statistics include sales January-December - All Years Source: The Warren Group

3.23%

Multifamily Home Sales 2.69%

2,500

Total Mtg Svcse | 2017 Rank: 4 | 2016 Rank: 13

2.75%

2-Family

3-Family

1.98% Primary Residentl Mtg | 2017 Rank: 5 | 2016 Rank: 18

NUMBER OF SALES

2,000

1,500

1,000

2.51%

500 1.56%

2017

2016

*MarketShare percent and Rank statistics includes loans thru December for both 2016 & 2017

07 08 09 10 11 12 13 14 15 16 17 *Statistics include median prices January-December- All Years Source: The Warren Group

FEBRUARY FEBRUARY 2018 2018 || THE COMMERCIAL RECORD | 9

Year in Review

2017 BROUGHT GROWTH ACROSS THE STATE Inventory Reduction Pushed Up Prices

BY JIM MORRISON | COMMERCIAL RECORD STAFF

t may be that 2017 is best remembered as the year the real estate recovery finally got a foothold in Connecticut. Statewide, sales of single-family homes rose a respectable 5 percent and the median price of a single-family home rose 1 percent to $249,900, according to analysis from The Warren Group, publisher of The Commercial Record. Despite state budget battles and highprofile companies being lured away by states with lower taxes, the gains seen last

year can be attributed to one thing: lower inventory. In Hartford County sales were up 5

10 | THE COMMERCIAL RECORD | FEBRUARY 2018

percent and prices stayed essentially flat. The city of Hartford saw sales jump 13 percent and prices up 2 percent. “Last spring we had such a shortage of inventory, it drove prices up,” said Julie Corrado of Coldwell Banker in South Windsor. “I expect the same thing to happen this year, because we’ve already seen multiple offers in January and February despite the gloomy and gray weather. I just sold a house in Cromwell [in Middlesex County]. It was listed at $995,000 and we got three offers including a full-price offer in the first week and a half. If you price a home right and market it and show it well, it will sell.” West Hartford is a perennially desirable city and there are plenty of eager buyers in the $350,000 to $550,000 range, she said. “This year and last year I’ve been feeling more optimistic, mostly due to lack of inventory,” Corrado said. “Some people are nervous about higher taxes driving people out of the state, but there are still plenty of people who love Connecticut for what we offer.” Pent-up demand is pushing up prices and rising prices are bringing out sellers, she said, so she’s bullish on 2018. “People are getting more for their homes than they would have two or three years ago,” she said. “I think 2018 will bring more sellers to the market who might’ve wanted to sell earlier, but it didn’t make sense.”

Cautious Optimism in New Construction Rising values can turn home sellers into new homebuyers, and while that market is also seeing improvement, Joel Grossman, who manages Calcagni’s New Homes Division, said his optimism for 2018 is tempered.

“We don’t quite have full confidence yet,” Grossman said. “A 1 percent increase in prices is good, but I would say we’re seeing good foot traffic. People are interested and that’s good. I see stability in the lower and mid-price points instead of declines. That’s all good for the long term.” Grossman also said he is seeing new home sales pick up. “We’re seeing increases in the lower price points, which is – depending on the town – upwards of around $300,000,” Grossman said. “You see much faster sales and lower inventory. We have two to three months of inventory, which is makes it more of a sellers’ market. It’s very encouraging. People who want to can now move up. Over $400,000 we start to see a little bit of a slowdown, depending on the town. They still sell, but a little slower.” New inventory is lagging demand in part because it takes so long to get a subdivision approved and built, he said. Across the board, the number of new homes sold in 2017 was down slightly compared to 2016 in New Haven County. “People come in and would like to buy, but they don’t have the luxury of waiting for these homes to come on line,” he said.

At Home in Connecticut The state’s high taxes and budget woes are holding the real estate market back somewhat, but Grossman says plenty of people are moving here from out of state, and he thinks state government will correct its course. “The government is doing what they can to make the state as attractive as possible for people to come and stay,” Grossman said. “I see them working diligently to

“

everything they can to encourage homeownership. Give us a Connecticut we can sell and let’s get more product out there. People want to buy.” He has bridled optimism for 2018 as well. “I’m confident and positive about 2018,” Grossman said. “People don’t buy houses for tax advantages, they buy them for a place to live. I’m bullish on real estate, especially new construction. People value

People don’t buy houses for tax advantages; they buy them for a place to live. I’m bullish on real estate, especially new construction. People like new things – cars, clothes and houses. They get what they want.” — Joel Grossman, Calcagni Real Estate

correct it. We have a single-family subdivision in Southington and we’ve seen more people move into it from out of state than in-state. The CT Realtors have stepped up in their lobbying efforts and they’re doing

energy efficiency and technology. People like new things – cars, clothes and houses. They get what they want.” ■ Email: jmorrison@thewarrengroup.com

2016 Sales

2017 Sales

Percent Change

2016 Median Price

2017 Median Price

Percent Change

Fairfield

8,043

8,330

$425,000

$450,000

Hartford

8,328

8,713

$218,000

$217,775

Litchfield

2,062

2,136

$220,000

$225,000

Middlesex

1,770

1,951

10%

$259,900

$262,500

New Haven

7,300

7,473

$215,000

$218,000

New London

2,627

2,891

10%

$213,500

$221,000

Tolland

1,402

1,505

$220,000

$219,000

Windham

1,226

1,261

$170,000

$179,000

Connecticut

32,758

34,260

$246,775

$249,900

Figures are for single-family homes, both years | Source: The Warren Group Data Analytics FEBRUARY 2018 | THE COMMERCIAL RECORD | 11

C-CHANGES IN CONNECTICUT’S EXECUTIVE SUITES First County Bank recently hired Brad Lupinacci as vice president and commercial banking officer. A Stamford native, he will be originating and building commercial relationships for the bank. Prior to joining First County Bank, Lupinacci held commercial lending and relationship management positions focused on the lower Fairfield County market. He has expertise with commercial and industrial, Small Business Administration and commercial real estate lending. Lupinacci is a member of the Stamford Chamber of Commerce, Exchange Club of Stamford, Knights of Columbus and Gravinese Mutual Aid Society. He is a board member of the James Barbara Inverno Foundation.

Ion Insurance Corp., a full-service independent insurance brokerage affiliated with Ion Bank, has hired Lisa SanAngelo as vice president and COO. SanAngelo will oversee and manage all areas of the insurance agency to ensure continuation of employee and customer satisfaction and facilitate annual growth and strategic objectives. She was previously employed at H.D. Segur Insurance in Cheshire as operations manager and Tracy-Driscoll Insurance in Bristol as vice president and operations manager.

AWARDS & ACCOLADES

Savings Institute Bank & Trust’s Norwich branch manager Barry Shead was recently honored at the Martin Luther King Jr. Birthday Celebration Luncheon held by the Norwich NAACP. Shead received the Robertsine Duncan Service Award in recognition of his extensive volunteer work and community outreach. Shead is an active member of the Norwich community; he is a charter member of the “Celebrate Cultural Diversity” event in Norwich, founded the Ralph Learned Community/Military Service Award and the Uniting for United Annual Food Competition and was past president of the Rotary Club of Norwich.

DeForest “Frosty” W. Smith of the Milford Pearce Real Estate office and his brother, Danforth M. Smith of George J. Smith & Son Insurance, have been awarded the Corporate Heritage Award. The Corporate Heritage Award is given to a company or organization that has served the residents of Milford over the span of generations. As a testament to longevity, Frosty received the “Milford Business Man of the Year” Award from the Milford Chamber of Commerce 28 years ago. Frosty and Danforth are the grandsons of George J. Smith, who founded the insurance company in 1886 and is now run by the fourth generation of Smiths.

12 | THE COMMERCIAL RECORD | FEBRUARY 2018

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.

JOE AMOROSO, CO-FOUNDER, MANAGING DIRECTOR, INDEED ABSTRACT Joe Amoroso left the mortgage business after 28 years to co-found Indeed Abstract, a title insurance, settlement services and default management company. What do traditional title companies not get about the mortgage industry? I think they are extremely focused on providing clear title for a mortgage transaction and that’s all well and good because that’s their job. But it’s important to know your customer. They don’t understand the challenges and plight of lenders from a compliance standpoint. We have a really good finger on the pulse of what it’s like on the mortgage side of things, like how to advise a lender on how different branches can provide disclosures. I can advise them on that. Interest rates are expected to continue to inch upward this year. Is that going to impact your business? Yes. It impacts lenders and that rhymes with vendors. That’s why our ancillary businesses are so important to us. The refinance market closed down a little, but purchases increased to offset that somewhat. I have customers who run consumer driven call centers which is sweet spot for me. If you have 30 to 40 people getting mortgages online, I can provide title services and custom reports for them nationally.

MICHELE MCCALLION, PRIVATE WEALTH ADVISOR AND SENIOR VICE PRESIDENT, BANK OF AMERICA MERRILL LYNCH With three decades of experience in wealth management, Bank of America Merrill Lynch financial advisor Michele McCallion has built a successful business. What are some of the challenges you faced as a working mother that others may not understand? Many of us think that the mom still has to cook, do laundry, maintain the house and take care of the dogs and kids. While there is less of that stigma today, there is still some of the pressure and guilt about having to accomplish everything. I have found that if you love what you do, you find the time to get things done. You just have to be organized. Sometimes the ball drops, or you forget about the school play. I think we tend to beat ourselves up when things like that happen, but the important thing is to try your hardest and stay focused on the big picture. What signs do you look for that a company is willing to support working mothers? I think one thing that is important is knowing that some things are seen and not said. I would recommend that you go to the office and take a look around. See what the demographics are. If you observe that the only women in the workspace are administrative and support staff, you may want to consider how the addition of a new female executive might impact the office culture and how you feel about that.

BILL CLARK, SENIOR VICE PRESIDENT, THE GEENTY GROUP REALTORS As one of the New Haven area’s most prolific commercial real estate brokers, Bill Clark is living proof that getting the jump on the competition gets results. What property types attracted the most demand in your market area in 2017? I found it to be a very funny market. It was up and down the whole year. When I hit the summer months, I did 25 deals in a three-month period. It was hot. And then it just cooled off. Industrial and flex space was the hottest. A lot of people want to buy an industrial building, not lease, and those buildings are premium and hard to find. Good ones, anyway. What are the traits of a successful broker? First of all, you’ve got to be there. I’m an early riser. I found out that developers, most of them, start real early in the morning. So I started calling on people at 6:30 in the morning, believe it or not. They were having their cup of coffee and I’d have a cup of coffee and that’s how I started getting involved with them. In the mid-1980s, there would be 10 guys waiting to see them in the middle of the day. Meanwhile, I’d already met with them at 6:30 in the morning.

FEBRUARY 2018 | THE COMMERCIAL RECORD | 13

Women in Banking

‘MAYBE WOMEN DON’T WANT TO BE COMMERCIAL BANKERS’

Assumptions Must be Challenged Before Progress Can be Made BY NEIL (DIMA) BERDIEV | SPECIAL TO THE COMMERCIAL RECORD

he reaction to the article “Women In Banking,” published in The Warren Group’s Banking New England magazine, was overwhelmingly positive from men and women at all levels of the corporate hierarchy. It looked at key causes for the lack of growth opportunities for women in com-

mercial banking, especially at senior levels. It also offered ideas and strategies for sus-

14 | THE COMMERCIAL RECORD | FEBRUARY 2018

tainable solutions to greater gender diversity in the industry. Consistent comments from male readers included: “I now understand the reality much better” and “We clearly need to do better.” There were, however, a few unexpected comments, which these individuals were hesitant to voice and did so only because they knew me personally: “Maybe women just don’t want

This is part 1 of a two-part series; part 2 will appeared in a subsequent issue of The Commercial Record. Part 1 presents results of a survey of commercial bankers and frames the issue of gender diversity in the industry; part 2 seeks and proposes solutions. to be in banking?”; “Maybe women don’t want to be in leadership positions in banking?”; and finally, “Maybe women prefer to focus on their families rather than their careers?” These comments came from a broader age group, men in their 30s to their 50s. They proposed that perhaps women prefer to focus on their families, raising children and being caretakers for family members, even if they were given the same opportunities that men historically have enjoyed. If your reaction to the above questions and suppositions is a sheer offense, exasperation and that logic like this is what’s led to limited opportunities for women in banking and other industries, you’re not alone. There is clear evidence that women face more challenges in commercial banking compared to their male counterparts and have to make a series of tough choices to pursue a career in the industry. But this question – do women want to be in banking? – is a logical one to raise and seek to answer. It is important is to recognize that some men – and possibly some women – may feel this way but will never speak about it. As a result, these individuals continue to believe what they believe and act as they acted all along, inadvertently helping to perpetuate the cycle in which women are squeezed out of the workforce and growth opportunities. It is crucial to encourage honest conversations and for people to question the reality as part of finding correct answers through education, looking at evidence and true causes, and ultimately driving solutions. To better understand the issue and its implications, let’s start with a survey of what men and women think of gender diversity and equality in commercial banking (largely represented by New England).

Survey: Genders in Commercial Banking Respondents were asked to rank the following on a scale from one to five, “strongly disagree” to “strongly agree.” Commercial banking industry as a whole lacks gender diversity at all levels. Most respondents answered with a four, with the next two largest groups concentrated in three (neither agree nor disagree). Commercial banking industry lacks gender diversity at senior, executive and board

levels. Over half of respondents said they strongly agreed with this statement. It’s also a statement already known to be true, and the survey responses further confirm an unequal reality. Women face more challenges in the workplace than men do. The majority of respondents answered as a four to five. Women and men are treated equally. The largest group of respondents answered as a “no,” with answers falling within somewhat disagree, followed by neutral and then strongly disagree. Women have the same growth and advancement opportunities as do men. The majority of responses fell within two and three, fol-

vert and subconscious). It was also noted that there is not open but more subtle discrimination in favor of men versus women. Although management has lately focused on gender diversity, the results fall far below expectations. This question is further supported by the respondents who stated overwhelmingly that their organizations are supportive of diversity and gender diversity specifically, but in response to whether their organizations meet their diversity goals, the answers were more muted, with 25 percent of respondents having no opinion. This may indicate the lack of specific, measurable goals or colleagues not knowing what those goals are.

Although management has lately focused on gender diversity, the results fall far below expectations. lowed by four, showing leaning toward a no, although not as strongly as other statements. When asking if the industry should do more to promote gender diversity, the answer was a resounding yes. More detailed comments included: • “Comparing today's diversity with 1960s and 1970s, huge improvement. Still more to accomplish, but women are excellent bankers and could well dominate the industry.” • “While tremendous progress has been made, banking still needs to do more to promote work-life balance so as not to lose parents (particularly moms) during the key parenting years.” • “There is still the ‘good old boys club’ mentality. These seasoned lenders have much to share and offer young talented and motivated lenders (or potential lenders) with their experiences. I just feel they don't invest as much in females as they do in male counterparts.” Others noted double standards and how the same behavior is received and interpreted differently coming from a man versus a woman. Stereotypes are well and alive, although they may not be as blatant and in the open as they used to be, which makes them even more dangerous (conscious moving into co-

While some organizations offer better personal and professional life balance, it was clear from the survey that it all hinges on individual managers. In the absence of strong, flexible work arrangement frameworks, managers can make diversity happen. Over 50 percent of respondents strongly agreed that their team leader (manager) accommodates family care needs and other personal situations. This kind of management results in employee loyalty and employee retention. Lastly, 39 percent of respondents indicated that they expect to experience negative career implications if they speak up about gender diversity issues and challenges, or they are not certain if there will be career repercussions. This is quite disturbing; gender and other diversity can only be achieved by active and passionate participation from top down and bottom up without fear. If employees do not feel encouraged and safe being ambassadors in solving issues that have a direct connection with talent development and retention, this is one of the first obstacles to tackle. ■ Neil (Dima) Berdiev is managing partner and founder of DNB Advisory LLC, a Boston-based advisory firm. He may be reached at dnb@ dnbAdvisory.com or at 617-233-1405.

FEBRUARY 2018 | THE COMMERCIAL RECORD | 15

NEWS ROUNDUP MASSMUTUAL TO SHUTTER ENFIELD OFFICE, RELOCATE EMPLOYEES TO MASSACHUSETTS

RAMEN RESTAURANT INKS 5-YEAR LEASE IN ORANGE

By Steve Adams MassMutual will add 1,500 jobs at its Springfield headquarters and another 500 in a new office building at Boston’s Fan Pier development and will close its Enfield, Connecticut office that employs 1,500 people. The plans would include $50 million in renovations to its existing downtown Springfield headquarters and construction of a $240 million office building at the Fan Pier. The moves will bring the Springfield headquarters job force to 4,500 by 2021, MassMutual said. If the insurer hits a target of creating 2,000 new jobs in Massachusetts, it stands to receive $46 million in tax credits and $1 million in workforce training funds offered by the Baker administration. The Fan Pier building will have expansion potential for up to 1,000 employees and exceed 300,000 square feet, MassMutual said. Like other large employers including General Electric, Alexion Pharmaceuticals and PTC that have decided to move large operations to the Seaport District, MassMutual said it would provide a competitive advantage. “A stronger Boston presence immerses us in a booming financial and digital economy and provides us with an enhanced opportunity to recruit innovators from the area’s deep and diverse talent pool,” CEO Roger Crandall said in a statement. MassMutual partnered with Boston-based Fallon Co. on the 3-millionsquare-foot Fan Pier project, one of the first major developments in the current Seaport District building boom, acquiring the 21-acre parcel in 2005 from the Pritzker family for $115 million. The site already includes the Vertex Pharmaceuticals and Goodwin Procter LLP headquarters, the One Marina Park Drive office building and two luxury condominium towers. The insurer’s real estate strategy also involves the closure of offices in North Carolina, New Jersey and Pennsylvania while retaining those in Amherst, New York City and Phoenix.

A ramen restaurant is moving into the former Dunkin Donuts at Orange Commons. Hokkaido Japanese Ramen signed onto a five-year lease in the 2,350 square-feet of retail space at 297 Boston Post Road in Orange, joining current tenants Great Expressions Dental, Wells Fargo, Red Wing Shoes, WindowRama, Cold Stone Creamery, T Mobile, Spa World and Advanced Radiology. Kevin Weirsman, vice president and broker with Colonial Properties Inc. represented the landlord, Prime Realty LLC.

ILLINOIS MAN CHARGED WITH STEALING IDENTITIES, DEFRAUDING STATE A man from Richton Park, Illinois, was charged with six counts of wire fraud and one count of aggravated identity theft stemming from a scheme to defraud state unemployment insurance programs in Connecticut and several other states. Richard M. Lach was arrested last month in Matteson, Illinois. Lach allegedly filed fraudulent claims with the Connecticut Department of Labor for unemployment benefits in the names of identity theft victims, using their names, dates of birth and Social Security numbers. The unemployment benefits were directly deposited to Green Dot debit cards he was using, which had been fraudulently opened in the names of other alleged victims. The indictment further alleges that in addition to fraudulently obtaining unemployment benefits from the Connecticut Department of Labor, he also fraudulently obtained or attempted to obtain unemployment benefits from agencies in other states, including Idaho, Iowa, Maine, New Jersey, New York, Pennsylvania and Texas. Each count of wire fraud carries a maximum term of imprisonment of 20 years and aggravated identity theft carries a mandatory consecutive two-year term of imprisonment.

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

Two Men Charged With ‘Jackpotting’ CT ATMs Town to Spend $5M to Clean Up Major Fuel Leak Defunct Woodbury Restaurant Purchased, To Be Rebranded Five CT Cities Win Federal Reserve’s Working Cities Challenge Grants Fed Puts Brakes on Wells Fargo When Bank Needs to Step on Gas Landscaping, Snow Removal Company Scoops up 3-Building Site

16 | THE COMMERCIAL RECORD | FEBRUARY 2018

• Report: Single Buyers in US Need 11 Years to Save a 20 Percent Down Payment • January Employment Report: A Mixed Bag For Housing • Rhode Island Man Sentenced for Robbing Banks in CT and MA • Ramen Restaurant Inks 5-Year Lease in Orange

EVENTS AFTER BIG YEAR, PATRIOT BANK PARENT ACQUIRES SMALL BUSINESS LENDING SUBSIDIARY

WOMEN IN BANKING CONFERENCE Friday, April 27, 2018 Mystic Marriott, 625 North Road, Groton, CT 06340 Who should attend: Banking professionals More information: www.ctbank.com

REPORT: SINGLE BUYERS IN US NEED 11 YEARS TO SAVE A 20 PERCENT DOWN PAYMENT

After a year of record earnings and an acquisition, Patriot Bank and its parent company are not slowing down. The Stamford-based company last month announced that it would acquire Hana Small Business Lending Inc., a wholly-owned subsidiary of Hana Financial Inc., in a move that it hopes will make Patriot Bank a nationwide leader in the SBA 7(a) lending arena. The total cash consideration in the deal would be approximately $83 million with the assumption of approximately $41 million of liabilities. The transaction includes the purchase of approximately $120 million of SBA 7(a) loans and servicing rights relating to a pool of $370 million in loans. The deal also includes the assumption of two loan securitization vehicles, currently rated AA+ and A- by Standard and Poor’s. Patriot Bank’s parent reported annual net income of $4.1 million in 2017, or $1.06 per diluted share, more than double the prior year results of $1.9 million, or $0.49 per fully diluted share. Total assets grew about $96 million year-over-year to $852 million. Net loans reached about $713 million at the end of 2017, up from about $577 million at the end of 2016. Net interest income for the year was almost $26 million, up about $3.5 million from the end of 2016. The margin ended the year at 3.51 percent, down from almost 4 percent at the end of 2016. Non-interest income at $1.4 million for the year had declined from 2016 as well. The bank had a provision credit at the end of 2017 of $857,000, a drastic reversal from a $2.5 million provision for loan losses at the end of 2016.

A typical single homebuyer would need to save for nearly 11 years to have enough money for a 20 percent down payment on the typical U.S. home, according to a new Zillow analysis. However, for married or partnered couples, it would take less than five years. Zillow’s analysis combined home values and income data from the U.S. Census to estimate how long it would take for both an individual and couple to save for a 20 percent down payment on a median-priced home, assuming they saved 10 percent of their income every year. Single buyers typically have a smaller budget than couples, which leaves them with fewer homes to choose from and limits them to the most in-demand portion of the housing stock. The number of homes for sale is limited across the country, down nearly 11 percent over the past year, and nearly 18 percent for the least expensive homes. A single person could afford to buy less than half (45 percent) of the U.S. housing stock, compared to a married or partnered couple, who could afford 82 percent of all homes.

SPORTS GAMING WEBSITE OWNER SENTENCED TO PRISON FOR TAX EVASION A Norwalk man was sentenced to six months in prison for tax evasion and has been ordered to pay a $50,000 fine. Ryan S. Rozycki owns and operates sports gaming information website bangthebook.com, as well as other website businesses and rental properties. Rozycki reported more than $1.6 million in gross receipts on his federal income tax returns, but failed to report more than $1.1 million in taxable income, which he had deposited into his personal bank accounts. Rozycki had worked with an accountant to prepare his tax returns, but did not provide his accountant with any information regarding his personal

accounts and the business receipts that had been deposited into them. As a result, he failed to pay more than $300,000 in federal income taxes. Rozycki has paid full restitution of $336,780 to the IRS. He pleaded guilty to one count of tax evasion. Rozycki, who was released on a $100,000 bond, was ordered to report to prison on April 30.

FEBRUARY 2018 | THE COMMERCIAL RECORD | 17

TOP COMMERCIAL TRANSACTIONS Visit www.commercialrecord.com for a complete list of commercial transactions updated weekly. TOP 3 STATEWIDE 1211 Boston Post Rd, Westbrook.$6,860,000

75 Frontage Rd, East Haven........ $5,225,000

31 Ferris Ave, Norwalk................. $4,959,907

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

Use:.................................................. Restaurant/Bar

Use:............................................ Apartment Building

Buyer:..................................... CPI Westbrook 1 LLC

Buyer: ...................................... East Haven Mall LLC

Buyer: ..................................................31 Ferris LLC

Seller:................................. Westbrook Circuit Mgmt

Seller: ................................ East Haven 1 Assoc LLC

Seller: ......................................Ferris Hill Apartments

Mtg: .................................. TD Bank NA $4,560,000

Mtg: ................................Webster Bank $3,657,500

Date:......................................................... 12/19/17

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

Date: ......................................................... 01/03/18

Total Assessed Value (2017): ..................$2,503,460

Total Assessed Value (2017): ..................$1,462,030

Total Assessed Value (2017):.................. $3,569,380

Lot Size: ...................................................... 37026sf

Lot Size:...................................................... 68389sf

FAIRFIELD 31 Ferris Ave, Norwalk.................... $4,959,907 Use:............................................... Apartment Building Buyer: ..................................................... 31 Ferris LLC Seller: .........................................Ferris Hill Apartments Date: ............................................................ 12/19/17 Total Assessed Value (2017): .....................$2,503,460 Lot Size: ......................................................... 37026sf

390 Ludlow St, Stamford................ $3,500,000 Use:............................................. Commercial Building Buyer: ...................................... Stamford Media Village Seller: ........................................ 860 Canal Street LLC Date:............................................................ 12/21/17 Total Assessed Value (2017):..................... $4,882,500 Lot Size: ....................................................... 133860sf

40 Old Ridgebury Rd, Danbury....... $3,100,000 Use:............................................. Commercial Building Buyer: ............................ Maplewood Ridgebury 2 LLC Seller: .................................. Old Ridge Equity Partners Date: ............................................................ 12/04/17 Total Assessed Value (2017): .....................$1,750,000 Lot Size: ....................................................... 173369sf Prior Sale: .....................................$3,376,000 (10/08)

100 Prospect Ave, Hartford............ $2,750,000 Use:................................... Apartment Bldg - 9 + Units Buyer:.............................. DBC 100 Prospect Ave BSD Seller: ..................................... Hartford Apt Ventures 1 Mtg:...................... Arbor Agency Lending $2,266,000 Date:............................................................ 12/05/17 Total Assessed Value (2016):..................... $1,002,050 Lot Size: ......................................................... 28314sf

157 Moody Rd, Enfield.................... $1,752,427 Use:..................................................Industrial Building Buyer:................................................. Moody 157 LLC Seller: ...........................................................Nubar RT Mtg: ................................. Berkshire Bank $6,500,000 Date:............................................................ 12/26/17 Total Assessed Value (2017): .....................$1,201,370 Lot Size: ....................................................... 231304sf

55 Di Nunzio Rd, Watertown............ $550,000 Use:..................................................Industrial Building Buyer: ......................................Commercial Street LLC Seller: ....................................... JRD Props Watertown Mtg: ............................ Thomaston Svgs Bk $420,000 Date:............................................................ 12/26/17 Total Assessed Value (2017): ........................$352,200 Lot Size: ....................................................... 178596sf Prior Sale: ........................................$266,000 (12/05)

500 Technology Park Dr, Torrington. $340,000 Use:.............................................Industrial Warehouse Buyer: ................................. Patterson Real Estate LLC Seller:.......................................................... Korfel LLC Date: ............................................................ 12/21/17 Total Assessed Value (2017): ........................$202,450 Lot Size: ....................................................... 165092sf Prior Sale: ..........................................$40,000 (05/12)

44 High St, Portland........................ $800,000 Use:.......................................................Nursing Home Buyer: ................................ Sweetheart Properties LLC Seller: ..........................................................LLBS LLC Mtg: ......................................TD Bank NA $1,080,000 Date: ............................................................ 12/20/17 Total Assessed Value (2017): .....................$1,290,870 Lot Size:....................................................... 228690sf

Ridgewood Rd, Middletown............. $450,000 Use:..............................................................Farm Use Buyer: .................................. Old Colony Of Wallingford Seller:................... Sarah Berard Tr, Tr for Guiheen RET Date: ............................................................ 01/03/18 Total Assessed Value (2017): ..........................$15,380 Lot Size: ..................................................... 2352240sf

HARTFORD 378 S Main St, New Britain............. $2,800,000 Use:............................................... Apartment Building Buyer: .......................................... Berlin Line Apts LLC Seller:. Berlin Line Apartments LLC & 378 S Main Street LLC Date:............................................................ 12/15/17 Total Assessed Value (2017): .....................$1,035,650 Lot Size:......................................................... 43124sf Prior Sale: .....................................$1,700,000 (03/14)

LITCHFIELD 26 Dudleytown Rd, Cornwall........... $565,000 Use:.................................. Forest Use-Christmas Trees Buyer: ............. Lincoln E Frank & Margaret Oneil-Frank Seller: ..................... Robinson B Lacy & Karen Doeblin Date: ............................................................ 12/18/17 Total Assessed Value (2017):............................ $3,100 Lot Size:..................................................... 2247260sf

MIDDLESEX 1211 Boston Post Rd, Westbrook... $6,860,000 Use:............................................. Commercial Building Buyer:........................................ CPI Westbrook 1 LLC Seller: .................................... Westbrook Circuit Mgmt Mtg:...................................... TD Bank NA $4,560,000 Date: ............................................................ 12/15/17 Total Assessed Value (2017): .....................$1,462,030 Lot Size: ......................................................... 68389sf

18 | THE COMMERCIAL RECORD | FEBRUARY 2018

FEATURED PROPERTY 44 High St, Portland......................................................................

$800,000

Use:..................................................................................................Nursing Home Buyer: ........................................................................... Sweetheart Properties LLC Seller: ..................................................................................................... LLBS LLC Mtg: .................................................................................TD Bank NA $1,080,000 Date: ........................................................................................................12/20/17 Total Assessed Value (2017): ................................................................ $1,290,870 Lot Size:.................................................................................................. 228690sf

NEW HAVEN 75 Frontage Rd, East Haven........... $5,225,000 Use:..................................................... Restaurant/Bar Buyer: ..........................................East Haven Mall LLC Seller:................................... East Haven 1 Assoc LLC Mtg: ...................................Webster Bank $3,657,500 Date: ............................................................ 01/03/18 Total Assessed Value (2017): .....................$3,569,380

150 Boston Post Rd, Milford........... $1,994,023 Use:............................................. Commercial Building Buyer: .................................................... Metro 92 LLC Seller:............................................. Jordan Realty LLC Mtg:.................................. Farmington Bk $3,000,000 Date: ............................................................ 12/27/17 Total Assessed Value (2017): .....................$3,982,600 Lot Size:....................................................... 543629sf

150 Boston Post Rd, Milford........... $1,282,976 Use:............................................. Commercial Building Buyer:.................................................. Metro 152 LLC Seller: ............................................. Jordan Realty LLC Mtg: .................................. Farmington Bk $3,000,000 Date: ............................................................ 12/27/17 Total Assessed Value (2017): .....................$3,982,600 Lot Size:....................................................... 543629sf

9 Cottrell St, Stonington.................. $900,000 Use:............................................. Commercial Building Buyer: .........................................Whalers Inn 9 Cottrell Seller: ......................................... Mystic River Real Est Date: ............................................................ 12/20/17 Total Assessed Value (2017):........................ $279,700 Lot Size: ........................................................... 1307sf Prior Sale: ........................................$535,000 (12/05)

48 Forest St, Groton........................ $525,000 Use:................................... Apartment Bldg - 4-8 Units Buyer:.................................................. Karsydney LLC Seller: ..........Charles A Mazzella & Deborah A Mazzella Mtg: ........................ Charter Oak Fed Cr Un $615,000 Date: ............................................................ 12/26/17 Total Assessed Value (2017): ........................$137,900 Lot Size:........................................................... 6752sf

889 Boston Tpke, Bolton................. $263,600 Use:............................................ Land-Vacant & Open Buyer: .................................. Howard Road Realty LLC Seller:................... Joel Mrosek & Wendy M Broadbent Date: ............................................................ 01/03/18 Total Assessed Value (2015):.......................... $74,400 Lot Size: ....................................................... 296208sf Prior Sale: ..........................................$55,000 (09/15)

49 Ames Rd, Hebron........................ $100,000 Use:............................................ Farm and Forest Use Buyer: ................................... Dream Developers Of CT Seller: .............................................................. 4S LLC Mtg: ..................................... Farmington Bk $440,000 Date:............................................................ 12/21/17 Total Assessed Value (2017):............................ $1,200 Lot Size: ....................................................... 311454sf

240 Margaret Henry Rd, Killingly... $625,000* Use:.................................. Forest Use-Christmas Trees Buyer:......................................... Rock Wall Farms LLC Seller: .......................................................Sarah Kranc Date:............................................................ 12/06/17 Total Assessed Value (2017):............................ $9,070 Lot Size:..................................................... 2352240sf Prior Sale:........................................ $150,000 (05/12)

188 Margaret Henry Rd, Killingly... $625,000* Use:.................................. Forest Use-Christmas Trees Buyer: ........................................ Rock Wall Farms LLC Seller: .......................................................Sarah Kranc Date: ............................................................ 12/06/17 Total Assessed Value (2017): ..........................$16,130 Lot Size:..................................................... 4181760sf

NEW LONDON 115 Leonard Dr, Groton.................. $1,125,000 Use:.............................................Industrial Warehouse Buyer: ............................................................ EL4 LLC Seller: ........................................... Terra Firma Ent LLC Mtg: ........................ Charter Oak Fed Cr Un $900,000 Date: ............................................................ 12/21/17 Total Assessed Value (2017): ........................$744,660 Lot Size: ......................................................... 90605sf

TOLLAND 287 Somers Rd, Ellington................ $350,000 Use:........................................................Bank Building Buyer: ...................................... 287 Somers Road LLC Seller: .......................................................United Bank Date: ............................................................ 12/29/17 Total Assessed Value (2016): ........................$381,710 Lot Size:......................................................... 67954sf Prior Sale: ........................................$638,000 (11/05)

WINDHAM 165 Main St, Windham.................... $1,990,000 Use:............................................. Commercial Building Buyer:............................................. Pascap Export Inc Seller:.......................................... Hres Willimantic LLC Date:............................................................ 12/07/17 Total Assessed Value (2017): ........................$497,980 Lot Size:......................................................... 43560sf

*Group sale.

FEBRUARY 2018 | THE COMMERCIAL RECORD | 19

TRENDLINES

FAIRFIELD COUNTY SALES REPORT

NUMBER OF SALES DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

BETHEL 1 Family

1 5

13.33%

184

185

0.54%

$250,000

$249,000

-0.40%

$293,750

$305,000

3.83%

Condo

-28.57%

26.67%

$356,520

$275,000

-22.87%

$280,000

$295,000

5.36%

3 1

16.13%

330

367

11.21%

$300,000

$287,500

-4.17%

$301,420

$314,900

4.47%

14.94%

All Sales

BRIDGEPORT 1 Family

6 4

-10.94%

579

642

10.88%

$149,500

$179,900

20.33%

$150,900

$173,450

Condo

2 5

-16.00%

279

312

11.83%

$76,000

$100,000

31.58%

$73,500

$75,320

2.48%

1 53

137

-10.46% 1,431

1,597

11.60%

$135,000

$169,174

25.31%

$129,250

$148,000

14.51%

All Sales

BROOKFIELD 1 Family

1 5

0.00%

199

188

-5.53%

$370,000

$369,000

-0.27%

$355,000

$365,000

2.82%

Condo

1 0

0.00%

4.76%

$222,250

$310,000

39.48%

$220,000

$207,500

-5.68%

3 4

-11.76%

348

338

-2.87%

$329,900

$343,500

4.12%

$310,000

$325,000

4.84%

1 Family

3 6

-5.56%

452

475

5.09%

$284,500

$285,000

0.18%

$270,000

$295,000

9.26%

Condo

4 2

-23.81%

404

385

-4.70%

$232,500

$248,500

6.88%

$195,500

$200,000

2.30%

1,113

0.54%

$259,500

$280,000

7.90%

$260,000

$276,000

6.15%

$1,199,000

$1,195,000

-0.33% $1,287,500

$1,365,000

6.02%

N/A

N/A $ 1,420,000

All Sales

DANBURY

All Sales

9 2

-7.61% 1,107

1 Family

1 8

11.11%

284

295

3.87%

Condo

0.00%

-9.09%

2 3

13.04%

334

355

6.29%

1 Family

500.00%

120

27.66%

Condo

650.00%

106

137

29.25%

DARIEN

All Sales

$1,280,000

$730,000 -48.59%

$1,195,000

-6.64% $1,307,500

$1,330,000

1.72%

$452,000

N/A $598,500

$575,000

-3.93%

EASTON

All Sales

N/A

N/A N/A N/A

N/A $440,000

N/A

N/A $578,000

N/A

$529,250

-8.43%

FAIRFIELD 1 Family

5 3

-1.89%

710

791

11.41%

$479,000

$627,975

31.10%

$580,000

0.00%

Condo

-33.33%

125

26.26%

$366,250

$343,000

-6.35%

$342,000

$360,000

5.26%

6 6

0.00%

922

1,060

14.97%

$467,500

$577,500

23.53%

$539,000

$555,000

2.97%

46.47% $1,465,000

$1,597,500

9.04%

All Sales

GREENWICH 1 Family

3 6

22.22%

365

473

29.59%

$1,347,500

$1,973,750

Condo

11.11%

122

156

27.87%

$658,000

$600,000

5 8

32.76%

576

794

37.85%

$1,155,000

$1,500,000

1 Family

1 9

-26.32%

198

208

5.05%

$299,900

$360,250

Condo

350.00%

1.75%

2 7

7.41%

295

315

6.78%

All Sales

-8.81%

$671,650

$720,000

7.20%

29.87% $1,100,000

$1,252,500

13.86%

$355,000

2.31%

MONROE

All Sales

N/A

$185,000

$290,000

$268,500

20.12%

$347,000

N/A $229,000 -7.41%

$200,750 -12.34%

$326,000

$330,000

20.92% $1,420,000

1.23%

NEW CANAAN 1 Family

1 3

61.54%

211

224

6.16%

$1,300,000

$1,572,000

Condo

66.67%

-11.86%

$1,035,000

$684,000

1 6

81.25%

290

304

4.83%

$1,300,000

$1,188,000

-21.05%

207

217

4.83%

$315,000

$323,750

0.00%

-19.05%

238

244

2.52%

$315,000

$294,500

-6.51%

$362,500

All Sales

$1,472,500

3.70%

$630,000

$615,000

-2.38%

-8.62% $1,303,500

$1,260,000

-3.34%

-33.91%

NEW FAIRFIELD 1 Family

1 9

Condo

2 1

All Sales

N/A

$325,000

$330,000

1.54%

N/A $245,000

$284,000

15.92%

$315,000

$323,375

2.66%

-3.33%

$372,500

$375,000

0.67%

N/A -100.00%

$320,578

$345,000

7.62%

$367,500

$362,248

-1.43%

N/A

2.78%

NEWTOWN 1 Family

3 5

-8.57%

383

397

3.66%

$375,000

Condo

-50.00%

-11.36%

$273,950

4 6

-15.22%

486

504

3.70%

$355,500

All Sales

20 | THE COMMERCIAL RECORD | FEBRUARY 2018

$355,000

-0.14%

Real estate & credit transactions updated every Thursday

www.commercialrecord.com â&#x20AC;¢ subscribers only

NUMBER OF SALES DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

NORWALK 1 Family

6 4

-18.75%

663

667

0.60%

$475,000

$440,500

-7.26%

$431,000

$450,000

4.41%

Condo

3 6

-19.44%

351

389

10.83%

$211,250

$252,900

19.72%

$259,900

$255,000

-1.89%

1 19

-16.81% 1,203

1,234

2.58%

$385,000

$395,000

2.60%

$380,000

$385,000

1.32%

1 Family

$508,500

$490,000

-3.64%

$523,000

$490,000

-6.31%

Condo

N/A $264,500

$470,000

77.69%

-5.29%

All Sales

REDDING

All Sales

0.00%

115

124

7.83%

25.00%

33.33%

139

145

4.32%

$508,500

$490,000

-3.64%

$510,000

$483,000

$590,000

$700,000

18.64%

$625,000

$641,500

2.64%

N/A $237,500

$382,500

61.05%

N/A

RIDGEFIELD 1 Family

3 3

-15.15%

339

358

5.60%

Condo

450.00%

33.33%

4 0

2.50%

438

480

9.59%

$575,500

$610,000

5.99%

$595,000

$583,750

-1.89%

1 Family

2 9

-13.79%

358

378

5.59%

$305,000

$345,000

13.11%

$320,000

$315,000

-1.56%

Condo

1 3

0.00%

156

132

-15.38%

$215,000

$286,000

33.02%

$249,950

$264,500

5.82%

-8.00%

617

0.00%

$282,500

$338,250

19.73%

$306,500

$309,000

0.82%

0.00%

3.70%

$371,500

$397,500

7.00%

$392,450

$433,500

10.46%

All Sales

N/A

$496,337

SHELTON

All Sales

5 0

SHERMAN 1 Family

Condo

-14.29%

3.17%

$360,000

$397,500

All Sales

N/A

10.42%

$368,800

$425,000

N/A 15.24%

STAMFORD 1 Family

6 7

-20.90%

713

677

-5.05%

$520,000

$511,000

-1.73%

$552,000

$555,000

0.54%

Condo

5 2

-3.85%

659

630

-4.40%

$275,500

$311,500

13.07%

$309,000

$303,750

-1.70%

1 45

118

-18.62% 1,683

1,561

-7.25%

$445,000

$440,000

-1.12%

$432,250

$435,000

0.64%

All Sales

STRATFORD 1 Family

5 1

-19.61%

620

639

3.06%

$242,500

$229,900

-5.20%

$229,700

$240,000

4.48%

Condo

2 1

-47.62%

166

164

-1.20%

$180,000

$213,500

18.61%

$170,000

$187,500

10.29%

-31.31%

960

977

1.77%

$220,000

$227,900

3.59%

$212,250

$222,000

4.59%

All Sales

9 9

TRUMBULL 1 Family

4 1

-24.39%

518

433

-16.41%

$367,000

$425,000

15.80%

$360,000

$380,000

5.56%

Condo

0.00%

22.86%

$466,000

$300,000

-35.62%

$310,000

$297,500

-4.03%

4 6

-19.57%

577

513

-11.09%

$356,000

$425,000

19.38%

$355,000

$370,450

4.35%

1 Family

155.56%

167

160

-4.19%

$880,000

$835,000

-5.11%

$780,000

$792,500

1.60%

Condo

177.78%

178

176

-1.12%

$880,000

$835,000

43.48%

345

407

17.97%

$1,000,000

$1,075,000

0 -100.00%

39.13%

19.35%

421

509

20.90%

$1,000,000

$1,075,000

$782,500

$552,500

All Sales

WESTON

All Sales

N/A

N/A -5.11%

N/A

$760,000

$780,000

2.63%

7.50% $1,237,500

$1,200,000

-3.03%

WESTPORT 1 Family

2 3

Condo

All Sales

N/A

N/A $635,000

3 1

7.50% $1,150,000

1 Family

1 8

-5.56%

220

215

-2.27%

Condo

100.00%

-10.00%

2 5

-16.00%

276

271

-1.81%

$680,000

$544,000

-20.00%

$508,000 -20.00% $1,100,000

-4.35%

$779,500

$702,500

-9.88%

N/A $338,250

$367,000

8.50%

$719,500

$672,000

-6.60%

WILTON

All Sales

N/A

-29.39%

FAIRFIELD COUNTY 1 Family

6 72

648

-3.57% 7,978

8,329

4.40%

$400,000

$455,000

13.75%

$425,000

$450,000

5.88%

Condo

2 40

220

-8.33% 2,738

2,843

3.83%

$229,000

$263,750

15.17%

$252,000

$259,000

2.78%

1 ,146 1,092

-4.71% 13,018

13,676

5.05%

$340,000

$378,500

11.32%

$360,000

$370,000

2.78%

All Sales

FEBRUARY 2018 | THE COMMERCIAL RECORD | 21

TRENDLINES

HARTFORD COUNTY SALES REPORT

NUMBER OF SALES DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

AVON 1 Family Condo All Sales

2 2 1 3 4 1

15 11 30

-31.82% -15.38% -26.83%

245 117 395

238 113 384

-2.86% -3.42% -2.78%

$365,000 $240,000 $258,000

$366,250 $205,000 $293,750

0.34% -14.58% 13.86%

$393,000 $212,000 $324,500

$418,600 $205,000 $315,000

6.51% -3.30% -2.93%

1 3 7 2 4

16 4 23

23.08% -42.86% -4.17%

174 52 261

203 33 282

16.67% -36.54% 8.05%

$235,000 $187,900 $239,250

$257,500 $242,500 $247,000

9.57% 29.06% 3.24%

$243,000 $230,500 $239,000

$245,000 $243,000 $240,000

0.82% 5.42% 0.42%

1 8 7 2 9

15 4 21

-16.67% -42.86% -27.59%

253 64 350

224 70 328

-11.46% 9.38% -6.29%

$199,000 $270,000 $203,000

$175,000 $318,500 $200,000

-12.06% 17.96% -1.48%

$178,100 $235,000 $195,000

$199,000 11.73% $194,488 -17.24% $200,000 2.56%

4 9 1 4 8 3

53 9 74

8.16% -35.71% -10.84%

560 123 858

645 122 953

15.18% -0.81% 11.07%

$180,000 $107,313 $173,000

$168,800 $84,000 $155,250

-6.22% -21.72% -10.26%

$175,000 $106,000 $164,400

$170,000 $105,000 $158,500

-50.00% N/A -53.33%

114 3 146

123 0 149

7.89% -100.00% 2.05%

$260,500 N/A $276,000

$357,500 37.24% $273,000 N/A N/A $246,000 $369,900 34.02% $287,500

$320,000 17.22% N/A - 100.00% $327,450 13.90%

$331,750 $157,500 $215,950

$350,000 5.50% N/A -100.00% $333,500 54.43%

$318,250 $149,900 $269,450

$310,000 -2.59% $131,000 -12.61% $280,100 3.95%

N/A -100.00% $255,000 N/A N/A $146,000 N/A -100.00% $243,000

$279,950 9.78% $127,000 -13.01% $266,000 9.47%

BERLIN 1 Family Condo All Sales

BLOOMFIELD 1 Family Condo All Sales

BRISTOL 1 Family Condo All Sales

-2.86% -0.94% -3.59%

BURLINGTON 1 Family Condo All Sales

1 0 0 1 5

5 0 7

6 6 1 4

12 1 14

100.00% -83.33% 0.00%

116 43 178

141 43 211

21.55% 0.00% 18.54%

1 1 2

-83.33% 0.00% -77.78%

79 12 103

66 23 103

-16.46% 91.67% 0.00%

$236,250 N/A $232,500

35 3 60

-12.50% 50.00% 13.21%

503 49 695

542 114 807

7.75% 132.65% 16.12%

$153,000 N/A $149,000

$145,000 $130,000 $144,950

-5.23% $146,500 N/A $84,000 -2.72% $142,000

$145,000 -1.02% $60,000 -28.57% $135,000 -4.93%

9 3 1 7

11 6 22

22.22% 100.00% 29.41%

99 39 195

105 53 220

6.06% 35.90% 12.82%

$153,900 $140,000 $140,000

$205,000 $142,450 $152,500

33.20% 1.75% 8.93%

$205,500 $148,000 $165,000

$198,000 $138,000 $156,000

-3.65% -6.76% -5.45%

4 0 8 5 1

58 10 72

45.00% 25.00% 41.18%

474 112 674

565 106 747

19.20% -5.36% 10.83%

$165,000 $128,950 $155,900

$186,000 $134,950 $183,200

12.73% 4.65% 17.51%

$168,250 $135,000 $163,250

$179,000 $137,450 $175,000

6.39% 1.81% 7.20%

21 15 42

-16.00% -6.25% -4.55%

247 183 473

250 183 507

1.21% 0.00% 7.19%

$369,500 $171,000 $290,250

$305,000 $176,250 $233,000

-17.46% 3.07% -19.72%

$346,000 $180,000 $265,000

$348,500 $187,500 $262,000

0.72% 4.17% -1.13%

3 1 7 4 3

32 11 48

3.23% 57.14% 11.63%

454 135 654

412 122 608

-9.25% -9.63% -7.03%

$319,000 $225,000 $291,000

$377,750 $200,000 $304,950

18.42% -11.11% 4.79%

$342,000 $171,000 $303,750

$339,500 $171,000 $294,750

-0.73% 0.00% -2.96%

3 1 4

11 3 17

266.67% 200.00% 325.00%

140 14 186

154 26 214

10.00% 85.71% 15.05%

$226,000 N/A $248,000

$282,500 $150,000 $228,800

31 6 72

6.90% -14.29% 4.35%

284 102 819

320 113 890

12.68% 10.78% 8.67%

$129,000 $65,100 $131,000

$95,101 $51,000 $130,300

14 0 15

14 0 23

0.00% N/A 53.33%

$260,000 N/A $260,000

CANTON 1 Family Condo All Sales

EAST GRANBY 1 Family Condo All Sales

6 1 9

EAST HARTFORD 1 Family Condo All Sales

4 0 2 5 3

EAST WINDSOR 1 Family Condo All Sales

ENFIELD 1 Family Condo All Sales

FARMINGTON 1 Family Condo All Sales

2 5 1 6 4 4

GLASTONBURY 1 Family Condo All Sales

GRANBY 1 Family Condo All Sales

25.00% $269,750 N/A $185,250 -7.74% $262,000

$280,900 4.13% $163,750 -11.61% $254,900 -2.71%

HARTFORD 1 Family Condo All Sales

2 9 7 6 9

-26.28% -21.66% -0.53%

$123,250 $50,000 $131,800

$125,950 $55,000 $140,000

2.19% 10.00% 6.22%

HARTLAND 1 Family Condo All Sales

3 0 3

0 -100.00% 0 N/A 0 -100.00%

22 | THE COMMERCIAL RECORD | FEBRUARY 2018

N/A -100.00% $257,500 N/A N/A N/A N/A -100.00% $255,000

$276,500 7.38% N/A N/A $265,000 3.92%

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

MANCHESTER 1 Family Condo All Sales

4 6 1 1 7 0

46 9 67

0.00% -18.18% -4.29%

566 104 837

645 132 933

13.96% 26.92% 11.47%

$178,950 $56,500 $161,500

$167,500 -6.40% $144,000 154.87% $156,000 -3.41%

$167,750 $99,000 $164,000

$173,000 $114,000 $167,000

3.13% 15.15% 1.83%

86 3 96

107 4 128

24.42% 33.33% 33.33%

$247,000 N/A $247,000

$340,000 37.65% $269,650 N/A N/A $214,500 $146,500 -40.69% $265,000

$248,000 $224,000 $244,000

-8.03% 4.43% -7.92%

MARLBOROUGH 1 Family Condo All Sales

1 1 0 1 1

3 0 7

-72.73% N/A -36.36%

NEW BRITAIN 1 Family Condo All Sales

4 1 6 7 6

34 8 69

-17.07% 33.33% -9.21%

418 65 787

455 78 846

8.85% 20.00% 7.50%

$113,000 $146,000 $124,950

$131,500 $93,500 $143,000

16.37% -35.96% 14.45%

$135,000 $65,100 $133,000

$136,000 $93,500 $135,000

0.74% 43.63% 1.50%

16 11 29

-46.67% 0.00% -34.09%

294 162 502

322 146 516

9.52% -9.88% 2.79%

$208,250 $140,000 $186,500

$197,500 $183,000 $190,000

-5.16% 30.71% 1.88%

$209,900 $135,200 $190,000

$218,700 $147,000 $202,400

4.19% 8.73% 6.53%

10 7 20

-56.52% -12.50% -42.86%

162 56 268

177 72 307

9.26% 28.57% 14.55%

$185,500 $149,500 $185,500

$215,800 $107,000 $156,000

16.33% -28.43% -15.90%

$183,150 $124,125 $175,000

$182,000 $133,215 $172,900

-0.63% 7.32% -1.20%

5 15 22

-16.67% 36.36% 10.00%

132 158 327

110 153 287

-16.67% -3.16% -12.23%

$219,500 $165,500 $172,000

$242,000 $172,500 $181,000

10.25% 4.23% 5.23%

$282,500 $165,000 $215,000

$278,000 $153,000 $202,000

-1.59% -7.27% -6.05%

28 9 43

12.00% 12.50% 22.86%

372 75 467

359 112 505

-3.49% 49.33% 8.14%

$320,000 $175,000 $302,500

$317,500 $133,000 $310,000

-0.78% -24.00% 2.48%

$315,500 $161,500 $300,000

$320,300 $148,500 $300,000

1.52% -8.05% 0.00%

17 11 33

-45.16% -26.67% -34.00%

272 125 435

267 130 456

-1.84% 4.00% 4.83%

$262,500 $182,000 $220,000

$261,000 $170,000 $200,000

-0.57% -6.59% -9.09%

$261,500 $168,000 $230,000

$274,900 $155,000 $245,000

5.12% -7.74% 6.52%

4 1 1 0 6 7

44 10 63

7.32% 0.00% -5.97%

417 102 638

439 116 675

5.28% 13.73% 5.80%

$240,000 $186,000 $235,000

$276,750 $215,000 $257,000

15.31% 15.59% 9.36%

$265,000 $162,500 $240,000

$280,000 $157,850 $249,000

5.66% -2.86% 3.75%

9 6 2 1

10 5 18

11.11% -16.67% -14.29%

143 54 249

134 47 248

-6.29% -12.96% -0.40%

$415,000 $172,450 $195,000

$313,000 $170,000 $284,500

-24.58% -1.42% 45.90%

$300,000 $174,500 $250,000

$275,000 $181,000 $259,825

-8.33% 3.72% 3.93%

49 17 71

22.50% 770 142.86% 127 22.41% 1,014

823 148 1,080

6.88% 16.54% 6.51%

$274,000 $227,000 $279,000

$299,900 $215,000 $269,900

9.45% -5.29% -3.26%

$299,000 $212,500 $287,250

$308,000 $193,500 $290,000

3.01% -8.94% 0.96%

4 0 3 4 8

26 2 33

-35.00% -33.33% -31.25%

400 48 482

390 58 484

-2.50% 20.83% 0.41%

$220,000 $138,000 $220,000

$220,000 0.00% N/A -100.00% $226,000 2.73%

$227,050 $129,500 $221,750

$235,450 $134,000 $225,000

3.70% 3.47% 1.47%

2 1 5 3 1

17 4 24

-19.05% -20.00% -22.58%

336 70 466

336 78 463

0.00% 11.43% -0.64%

$198,790 $280,000 $219,900

$200,000 $170,000 $193,500

0.61% -39.29% -12.01%

$191,000 $184,500 $189,950

$202,000 $182,000 $205,000

5.76% -1.36% 7.92%

18 6 26

125.00% 100.00% 100.00%

136 35 213

147 56 241

8.09% 60.00% 13.15%

$148,250 $157,000 $157,000

$178,950 $119,500 $155,500

20.71% -23.89% -0.96%

$166,000 $133,000 $168,000

$175,000 $135,450 $169,000

5.42% 1.84% 0.60%

-5.47% 8,260 1.02% 2,232 -4.55% 12,783

8,713 2,451 13,595

5.48% 9.81% 6.35%

$210,000 $162,500 $195,680

$214,000 $150,500 $195,000

1.90% -7.38% -0.35%

$217,575 $150,000 $199,000

$217,775 $145,000 $200,000

0.09% -3.33% 0.50%

NEWINGTON 1 Family Condo All Sales

3 0 1 1 4 4

PLAINVILLE 1 Family Condo All Sales

2 3 8 3 5

ROCKY HILL 1 Family Condo All Sales

6 1 1 2 0

SIMSBURY 1 Family Condo All Sales

2 5 8 3 5

SOUTH WINDSOR 1 Family Condo All Sales

3 1 1 5 5 0

SOUTHINGTON 1 Family Condo All Sales

SUFFIELD 1 Family Condo All Sales

WEST HARTFORD 1 Family Condo All Sales

4 0 7 5 8

WETHERSFIELD 1 Family Condo All Sales

WINDSOR 1 Family Condo All Sales

WINDSOR LOCKS 1 Family Condo All Sales

8 3 1 3

HARTFORD COUNTY 1 Family Condo All Sales

6 76 639 1 96 198 1 ,078 1,029

FEBRUARY 2018 | THE COMMERCIAL RECORD | 23

TRENDLINES

LITCHFIELD COUNTY SALES REPORT

NUMBER OF SALES DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

BARKHAMSTED 1 Family Condo All Sales

4 0 5

2 0 4

-50.00% N/A -20.00%

34 0 46

33 0 50

-2.94% N/A 8.70%

$300,750 N/A $343,500

N/A -100.00% $257,750 N/A N/A N/A $303,250 -11.72% $258,000

$244,000 -5.33% N/A N/A $245,075 -5.01%

4 0 5

0.00% N/A 0.00%

33 0 46

29 0 40

-12.12% N/A -13.04%

$207,500 N/A $200,000

$248,000 19.52% $250,000 N/A N/A N/A $256,000 28.00% $249,100

$256,000 2.40% N/A N/A $239,000 -4.05%

2 0 3

0 -100.00% 0 N/A 0 -100.00%

24 0 36

26 2 33

8.33% N/A -8.33%

N/A N/A N/A $330,000 N/A N/A N/A N/A $280,000 -100.00% $330,000

$482,500 46.21% N/A N/A $490,000 48.48%

0 0 1

0 N/A 0 N/A 0 -100.00%

14 0 20

17 0 18

21.43% N/A -10.00%

N/A N/A N/A

N/A $215,000 N/A N/A N/A $209,500

$280,000 30.23% N/A N/A $290,000 38.42%

1 0 2

N/A N/A N/A

21 0 24

17 0 21

-19.05% N/A -12.50%

N/A N/A N/A

N/A $199,500 N/A N/A N/A $212,800

$205,000 2.76% N/A N/A $210,000 -1.32%

1 0 3

0 -100.00% 0 N/A 2 -33.33%

17 0 25

18 0 32

5.88% N/A 28.00%

N/A N/A $170,000

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

$222,500 -25.83% N/A N/A $215,000 -28.33%

4 0 5

3 0 3

-25.00% N/A -40.00%

60 1 78

54 0 72

-10.00% -100.00% -7.69%

$368,725 N/A $235,000

$310,000 -15.93% $303,250 N/A N/A N/A $310,000 31.91% $300,000

$320,000 5.52% N/A N/A $290,500 -3.17%

4 0 5

4 0 4

0.00% N/A -20.00%

74 1 99

59 2 80

-20.27% 100.00% -19.19%

$222,500 N/A $280,000

$254,000 14.16% $264,000 N/A N/A N/A $254,000 -9.29% $255,000

$260,000 -1.52% N/A N/A $248,250 -2.65%

4 0 5

2 0 4

-50.00% N/A -20.00%

33 8 59

16 2 35

-51.52% -75.00% -40.68%

$452,500 N/A $485,000

N/A -100.00% $345,000 N/A N/A $174,950 $397,500 -18.04% $303,500

$517,500 50.00% N/A - 100.00% $283,700 -6.52%

8 0 1 1

4 1 10

-50.00% N/A -9.09%

81 14 135

89 16 156

9.88% 14.29% 15.56%

$202,500 N/A $210,000

$235,250 16.17% $285,000 N/A N/A $257,250 $230,000 9.52% $305,000

$254,900 -10.56% $222,250 -13.61% $249,900 -18.07%

5 0 7

2 1 4

-60.00% N/A -42.86%

20 0 32

23 3 49

15.00% N/A 53.13%

$245,000 N/A $245,000

N/A -100.00% $246,000 N/A N/A N/A $465,500 90.00% $235,000

$352,000 $157,500 $282,500

43.09% N/A 20.21%

11 1 14

120.00% -66.67% 40.00%

61 11 99

82 3 120

34.43% -72.73% 21.21%

3 4 1 1 6 1

19 10 33

-44.12% -9.09% -45.90%

315 73 486

320 100 526

1.59% 36.99% 8.23%

0 0 0

1 0 3

20 0 30

18 1 31

-10.00% N/A 3.33%

BETHLEHEM 1 Family Condo All Sales

4 0 5

BRIDGEWATER 1 Family Condo All Sales

CANAAN 1 Family Condo All Sales

COLEBROOK 1 Family Condo All Sales

0 0 0

CORNWALL 1 Family Condo All Sales

GOSHEN 1 Family Condo All Sales

HARWINTON 1 Family Condo All Sales

KENT 1 Family Condo All Sales

LITCHFIELD 1 Family Condo All Sales

MORRIS 1 Family Condo All Sales

NEW HARTFORD 1 Family Condo All Sales

5 3 1 0

$230,000 $215,000 -6.52% $73,000 -100.00% $196,000 $142,500 -27.30%

$260,000 $102,000 $206,000

$259,250 $102,000 $236,000

-0.29% 0.00% 14.56%

$247,500 $97,000 $227,000

$270,000 $135,000 $241,250

$280,000 $125,500 $245,000

3.70% -7.04% 1.55%

NEW MILFORD 1 Family Condo All Sales

$325,000 $135,500 $254,500

31.31% 39.69% 12.11%

NORFOLK 1 Family Condo All Sales

N/A N/A N/A

24 | THE COMMERCIAL RECORD | FEBRUARY 2018

N/A N/A N/A

N/A N/A $280,000

N/A $198,250 N/A N/A N/A $200,000

$271,500 36.95% N/A N/A $230,000 15.00%

Real estate & credit transactions updated every Thursday

www.commercialrecord.com â&#x20AC;¢ subscribers only

NUMBER OF SALES DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

NORTH CANAAN 1 Family

-80.00%

-48.65%

$175,000

N/A -100.00%

$160,000

Condo

0 -100.00%

-75.00%

$98,000

N/A -100.00%

$89,000

-59.32%

$140,000

N/A -100.00%

$150,000

$153,500

$177,950

$166,500

$160,950

-3.33%

$93,950

$107,000

13.89%

7.72%

$157,000

$158,000

0.64%

N/A -100.00%

$483,500

$540,000

11.69%

All Sales

-88.89%

$155,000

-3.13%

N/A - 100.00% 2.33%

PLYMOUTH 1 Family

1 4

-35.71%

123

174

41.46%

Condo

0 -100.00%

-21.43%

All Sales

N/A

2 0

-45.00%

169

210

24.26%

$168,950

1 Family

-75.00%

-11.11%

$850,000

Condo

-60.00%

-25.00%

49 4

$191,000 N/A $182,000

7.33% N/A

ROXBURY

All Sales

N/A

-15.69%

$700,000

8.16%

$368,500

-25.00%

N/A

N/A -100.00%

N/A

$450,000

$540,000

20.00%

$420,000

$400,000

-4.76%

N/A $317,750

$410,000

29.03%

SALISBURY 1 Family

Condo

25.00%

7.25%

$368,500

1 Family

-75.00%

-14.58%

$532,500

Condo

0 -100.00%

50.00%

1.52%

$339,500

$152,000

-55.23%

$204,300

$211,500

3.52%

All Sales

N/A

$243,000 N/A $490,000

-34.06% 32.97%

$370,000

$415,000

12.16%

N/A -100.00%

$331,250

$335,000

1.13%

SHARON

All Sales

-33.33%

N/A

$165,100

N/A

$315,000

$310,000

-1.59%

$210,000

$185,500 -11.67%

THOMASTON 1 Family

60.00%

38.18%

Condo

100.00%

-15.38%

25.00%

103

22.62%

$194,650

$195,000

All Sales

N/A

$80,000

$97,000

21.25%

0.18%

$187,500

$172,500

-8.00%

TORRINGTON 1 Family

3 0

-16.67%

384

383

-0.26%

$117,500

$145,000

23.40%

$131,369

$136,000

3.53%

Condo

-33.33%

-19.19%

$99,000

$58,250

-41.16%

$67,500

$78,500

16.30%

5 0

-16.00%

615

598

-2.76%

$108,000

$137,000

26.85%

$112,500

$121,600

8.09%

-50.00%

All Sales

WARREN 1 Family

0 -100.00%

Condo

100.00%

All Sales

N/A

N/A $567,500

N/A

-29.41%

N/A

N/A $309,250

N/A

$331,500 -41.59% N/A

N/A

$369,000

19.32%

N/A $500,000

$460,000

-8.00%

N/A

$234,500

N/A

WASHINGTON 1 Family

250.00%

18.87%

N/A

Condo

0 -100.00%

200.00%

N/A

60.00%

9.59%

$220,000

$342,500

55.68%

$420,000

$402,500

-4.17%

$191,400

-6.63%

$190,000

$204,000

7.37%

N/A -100.00%

$165,000

$175,500

6.36%

All Sales

$365,000 N/A

N/A

WATERTOWN 1 Family

2 1

4.76%

228

263

15.35%

$205,000

Condo

-80.00%

-15.15%

$210,000

3 3

-15.15%

332

372

12.05%

$217,500

$176,400

-18.90%

$185,000

$190,000

2.70%

233.33%

106

121

14.15%

$257,000

$149,500

-41.83%

$152,000

$170,000

11.84%

150.00%

$69,500

$73,500

5.76%

18.13%

$149,000

$122,500

-17.79%

$135,500

$157,000

15.87%

$338,500

$315,000

-6.94%

$317,500

$335,500

5.67%

All Sales

WINCHESTER 1 Family

Condo

220.00%

160

189

All Sales

N/A

WOODBURY 1 Family

-37.50%

100

1.01%

Condo

0 -100.00%

17.65%

169

172

1.78%

$205,000

$307,000

-17.61% 2,045

All Sales

1 2

-8.33%

N/A

N/A $130,000

$115,951 -10.81%

49.76%

$270,000

$272,500

0.93% 2.32%

LITCHFIELD COUNTY 1 Family

1 76

145

Condo

3 7

2 79

228

All Sales

2,136

4.45%

$214,950

$218,000

1.42%

$219,900

$225,000

321

332

3.43%

$100,000

$99,500

-0.50%

$108,000

$110,000

1.85%

-18.28% 3,096

3,219

3.97%

$190,800

$200,000

4.82%

$193,500

$195,000

0.78%

-40.54%

FEBRUARY 2018 | THE COMMERCIAL RECORD | 25

TRENDLINES

MIDDLESEX COUNTY SALES REPORT

NUMBER OF SALES DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

46 0 53

49 0 57

6.52% N/A 7.55%

DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

CHESTER 1 Family Condo All Sales

0 0 0

5 0 5

N/A N/A N/A

$265,000 N/A $265,000

N/A $262,000 N/A N/A N/A $250,125

$280,000 6.87% N/A N/A $270,000 7.95%

9 4 1 9

7 2 13

-22.22% -50.00% -31.58%

174 39 256

175 36 251

0.57% -7.69% -1.95%

$275,000 $141,000 $218,000

$190,000 -30.91% N/A -100.00% $190,000 -12.84%

$259,950 $151,500 $235,000

$261,500 0.60% $134,500 -11.22% $235,000 0.00%

11 11 27

57.14% -15.38% 12.50%

115 128 285

128 143 303

11.30% 11.72% 6.32%

$270,000 $132,000 $173,250

$250,000 $145,000 $200,000

$255,000 $132,000 $180,000

$247,500 $138,900 $185,000

2 1 3

3 50.00% 0 -100.00% 5 66.67%

56 9 73

41 20 77

-26.79% 122.22% 5.48%

N/A N/A $300,000

$205,000 N/A $235,500 N/A N/A $138,000 $205,000 -31.67% $234,900

$222,000 -5.73% $137,500 -0.36% $200,000 -14.86%

1 0 1 1 5

6 -40.00% 0 -100.00% 7 -53.33%

89 6 113

95 3 111

6.74% -50.00% -1.77%

$252,500 N/A $270,000

$344,000 36.24% $273,000 N/A N/A $183,000 $330,000 22.22% $273,000

$340,000 $215,000 $330,510

CLINTON 1 Family Condo All Sales

CROMWELL 1 Family Condo All Sales

7 1 3 2 4

-7.41% 9.85% 15.44%

-2.94% 5.23% 2.78%

DEEP RIVER 1 Family Condo All Sales

DURHAM 1 Family Condo All Sales

24.54% 17.49% 21.07%

EAST HADDAM 1 Family Condo All Sales

1 5 0 1 6

11 0 14

-26.67% N/A -12.50%

135 4 169

131 5 188

-2.96% 25.00% 11.24%

$209,900 N/A $217,950

$260,000 23.87% $238,500 N/A N/A $216,839 $218,450 0.23% $228,000

$235,000 -1.47% $145,000 -33.13% $213,500 -6.36%

1 0 1 1 5

17 1 19

70.00% 0.00% 26.67%

159 15 212

178 28 253

11.95% 86.67% 19.34%

$282,500 N/A $191,500

$241,500 -14.51% $264,900 N/A N/A $142,500 $230,000 20.10% $252,500

$248,250 $149,750 $229,000

-6.29% 5.09% -9.31%

7 2 1 4

5 2 8

-28.57% 0.00% -42.86%

87 19 127

91 10 123

4.60% -47.37% -3.15%

$625,000 N/A $475,000

$668,000 6.88% $318,000 N/A N/A $215,000 $333,156 -29.86% $288,000

$337,500 $202,500 $312,500

6.13% -5.81% 8.51%

9 0 1 0

8 0 12

-11.11% N/A 20.00%

115 0 136

110 1 151

-4.35% N/A 11.03%

$305,000 N/A $302,500

$222,450 -27.07% $265,000 N/A N/A N/A $222,450 -26.46% $254,450

$272,450 2.81% N/A N/A $267,000 4.93%

10 0 13

11.11% N/A 44.44%

93 0 100

95 1 120

2.15% N/A 20.00%

$290,000 N/A $290,000

$356,950 23.09% $315,000 N/A N/A N/A $341,000 17.59% $317,450

$325,055 3.19% N/A N/A $297,000 -6.44%

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

9 0 9

MIDDLEFIELD 1 Family Condo All Sales

4 1 7

1 1 3

-75.00% 0.00% -57.14%

54 5 76

54 8 80

0.00% 60.00% 5.26%

$203,000 -100.00% $250,000 N/A N/A N/A $182,000 $250,000 $423,900 69.56% $249,950

$246,450 $319,500 $249,300

-1.42% 75.55% -0.26%

29 17 57

-17.14% 0.00% -5.00%

330 146 572

398 142 670

20.61% -2.74% 17.13%

$193,000 $100,000 $163,950

$199,900 $118,000 $143,250

3.58% 18.00% -12.63%

$210,000 $103,250 $170,000

$205,000 $114,950 $178,500

-2.38% 11.33% 5.00%

17 2 22

112.50% -33.33% 83.33%

145 17 211

190 30 261

31.03% 76.47% 23.70%

$390,000 $365,000 $365,000

$380,000 -2.56% N/A -100.00% $367,500 0.68%

$366,000 $360,000 $350,000

$360,000 $373,125 $355,000

-1.64% 3.65% 1.43%

7 1 12

-30.00% 0.00% -20.00%

106 19 163

122 15 174

15.09% -21.05% 6.75%

$192,250 N/A $187,500

$192,500 N/A $196,250

MIDDLETOWN 1 Family Condo All Sales

3 5 1 7 6 0

OLD SAYBROOK 1 Family Condo All Sales

8 3 1 2

PORTLAND 1 Family Condo All Sales

1 0 1 1 5

26 | THE COMMERCIAL RECORD | FEBRUARY 2018

0.13% $229,500 N/A $189,500 4.67% $211,275

$240,250 4.68% $139,900 -26.17% $206,250 -2.38%

Real estate & credit transactions updated every Thursday

www.commercialrecord.com â&#x20AC;˘ subscribers only

NUMBER OF SALES DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

62 6 118

94 11 120

-0.70% 1,766 -15.91% 413 -3.90% 2,664

1,951 453 2,939

2017 %CHG YTD 16-17

51.61% 83.33% 1.69%

$225,000 N/A $225,150

$249,500 10.89% $280,500 N/A N/A $360,950 $269,000 19.48% $255,250

$321,000 $325,000 $321,000

14.44% -9.96% 25.76%

10.48% 9.69% 10.32%

$247,500 $121,000 $217,000

$241,500 $136,500 $208,500

$262,500 $136,000 $233,000

1.00% 4.62% 0.22%

WESTBROOK 1 Family Condo All Sales

7 0 1 2

4 0 5

-42.86% N/A -58.33%

MIDDLESEX COUNTY 1 Family Condo All Sales

1 42 4 4 2 31

141 37 222

-2.42% 12.81% -3.92%

$259,900 $130,000 $232,500

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FEBRUARY 2018 | THE COMMERCIAL RECORD | 27

TRENDLINES

NEW HAVEN COUNTY SALES REPORT

NUMBER OF SALES DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

ANSONIA 1 Family Condo All Sales

1 2 0 1 5

14 0 22

16.67% N/A 46.67%

160 7 243

166 2 255

3.75% -71.43% 4.94%

$155,250 N/A $158,000

$162,500 N/A $170,500

58 23 105

54 23 102

63 0 76

59 0 71

4.67% $175,000 N/A $135,000 7.91% $170,000

$175,000 0.00% N/A - 100.00% $176,700 3.94%

-6.90% 0.00% -2.86%

$272,500 $135,900 $229,500

$346,000 26.97% N/A -100.00% $346,000 50.76%

-6.35% N/A -6.58%

$329,900 N/A $329,900

$250,000 -24.22% $329,900 N/A N/A N/A $250,000 -24.22% $312,000

$315,000 -4.52% N/A N/A $308,000 -1.28%

BEACON FALLS 1 Family Condo All Sales

5 3 1 3

5 2 9

0.00% -33.33% -30.77%

3 0 7

3 0 5

0.00% N/A -28.57%

$236,000 $308,699 $250,000

$244,250 3.50% $165,000 -46.55% $247,000 -1.20%

BETHANY 1 Family Condo All Sales

BRANFORD 1 Family Condo All Sales

2 2 1 6 4 8

14 20 42

-36.36% 25.00% -12.50%

228 164 477

230 187 518

0.88% 14.02% 8.60%

$321,875 $125,000 $210,000

$322,500 $175,000 $262,500

0.19% 40.00% 25.00%

$317,000 $152,000 $229,000

$299,500 $157,000 $235,000

-5.52% 3.29% 2.62%

2 4 4 3 5

27 7 38

12.50% 75.00% 8.57%

296 71 426

325 85 462

9.80% 19.72% 8.45%

$352,500 $207,500 $315,000

$315,000 $160,000 $280,625

-10.64% -22.89% -10.91%

$305,000 $159,900 $283,750

$316,500 $162,000 $281,500

3.77% 1.31% -0.79%

9 8 2 1

5 3 9

-44.44% -62.50% -57.14%

87 43 188

70 72 188

-19.54% 67.44% 0.00%

$178,000 $108,500 $155,000

$189,000 $142,000 $165,000

6.18% 30.88% 6.45%

$180,000 $125,000 $153,199

$180,000 $144,725 $154,500

0.00% 15.78% 0.85%

28 8 39

-9.68% -11.11% -15.22%

306 106 464

358 109 527

16.99% 2.83% 13.58%

$179,900 $212,000 $183,500

$157,500 $109,040 $152,000

-12.45% -48.57% -17.17%

$179,950 $137,500 $175,500

$178,000 $135,000 $172,000

-1.08% -1.82% -1.99%

2 3 1 2 8

23 1 29

0.00% 0.00% 3.57%

293 29 364

278 48 388

-5.12% 65.52% 6.59%

$370,000 N/A $367,500

$315,000 -14.86% $350,000 N/A N/A $123,000 $339,000 -7.76% $339,500

$375,000 $202,500 $355,000

7.14% 64.63% 4.57%

2 9 6 4 5

29 4 46

0.00% -33.33% 2.22%

526 122 752

477 112 699

-9.32% -8.20% -7.05%

$185,000 $124,750 $179,000

$194,900 $98,250 $179,000

5.35% -21.24% 0.00%

$189,500 $114,250 $175,950

$196,000 $113,750 $184,900

3.43% -0.44% 5.09%

2 1 1 2 6

19 5 27

-9.52% 400.00% 3.85%

269 18 317

260 30 328

-3.35% 66.67% 3.47%

$490,000 N/A $435,000

$395,000 $267,000 $387,000

-19.39% $400,000 N/A $245,000 -11.03% $379,600

$402,000 $334,750 $378,250

0.50% 36.63% -0.36%

5 4 9 7 5

73 10 96

35.19% 11.11% 28.00%

582 142 906

632 142 969

8.59% 0.00% 6.95%

$154,163 $125,000 $148,000

$161,000 $107,875 $150,121

4.43% -13.70% 1.43%

$154,550 $93,000 $136,000

$160,000 $99,500 $145,000

3.53% 6.99% 6.62%

8 4 1 7

6 3 12

-25.00% -25.00% -29.41%

88 24 158

104 32 167

18.18% 33.33% 5.70%

$332,500 $335,250 $385,000

$277,500 $445,000 $332,500

-16.54% 32.74% -13.64%

$274,450 $381,250 $296,750

$282,250 $352,996 $309,000

2.84% -7.41% 4.13%

5 8 1 4 7 9

35 14 55

-39.66% 0.00% -30.38%

590 183 882

635 214 955

7.63% 16.94% 8.28%

$292,988 $203,500 $279,000

$260,000 $190,000 $250,000

-11.26% -6.63% -10.39%

$280,000 $169,500 $262,000

$290,000 $198,250 $270,000

3.57% 16.96% 3.05%

26 1 36

13.04% 0.00% 16.13%

296 56 425

308 56 470

4.05% 0.00% 10.59%

$164,000 N/A $164,000

$166,250 N/A $161,500

1.37% $160,000 N/A $68,750 -1.52% $149,000

$166,250 $78,000 $156,900

3.91% 13.45% 5.30%

CHESHIRE 1 Family Condo All Sales

DERBY 1 Family Condo All Sales

EAST HAVEN 1 Family Condo All Sales

3 1 9 4 6

GUILFORD 1 Family Condo All Sales

HAMDEN 1 Family Condo All Sales

MADISON 1 Family Condo All Sales

MERIDEN 1 Family Condo All Sales

MIDDLEBURY 1 Family Condo All Sales

MILFORD 1 Family Condo All Sales

NAUGATUCK 1 Family Condo All Sales

2 3 1 3 1

28 | THE COMMERCIAL RECORD | FEBRUARY 2018

Real estate & credit transactions updated every Thursday

www.commercialrecord.com â&#x20AC;¢ subscribers only

NUMBER OF SALES DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

NEW HAVEN 1 Family Condo All Sales

3 3 1 0 9 0

30 13 88

-9.09% 383 30.00% 156 -2.22% 1,042

391 187 1,092

2.09% 19.87% 4.80%

$141,000 $122,450 $139,950

$167,450 $150,000 $166,950

18.76% 22.50% 19.29%

$170,000 $138,000 $160,500

$168,000 $134,000 $167,250

-1.18% -2.90% 4.21%

$281,272 N/A $284,500

$247,000 -12.18% $260,000 N/A N/A $160,000 $243,000 -14.59% $250,000

$255,000 $152,500 $234,900

-1.92% -4.69% -6.04%

$253,000 $278,750 $285,000

$310,000 22.53% N/A -100.00% $305,000 7.02%

$265,000 $238,000 $268,000

$280,000 $227,000 $297,000

5.66% -4.62% 10.82%

$344,900 N/A $350,000

$410,000 18.88% $346,250 N/A N/A $402,919 $380,915 8.83% $358,000

$343,250 $448,582 $350,000

-0.87% 11.33% -2.23%

$306,500 $381,021 $325,000

-6.41% 2.98% -6.08%

NORTH BRANFORD 1 Family Condo All Sales

1 2 0 1 4

7 1 14

-41.67% N/A 0.00%

133 17 174

145 30 211

9.02% 76.47% 21.26%

1 8 8 3 3

19 2 30

5.56% -75.00% -9.09%

255 35 354

259 25 377

1.57% -28.57% 6.50%

1 9 2 2 3

9 -52.63% 0 -100.00% 10 -56.52%

160 10 199

154 12 193

-3.75% 20.00% -3.02%

1 0 0 1 3

9 1 12

-10.00% N/A -7.69%

122 29 198

134 22 196

9 1 12

-30.77% -50.00% -45.45%

97 26 152

104 38 175

7.22% 46.15% 15.13%

$250,000 N/A $252,500

$265,000 6.00% $261,000 N/A N/A $358,500 $292,750 15.94% $273,000

$277,500 6.32% $305,000 -14.92% $295,000 8.06%

8 2 12

-55.56% -33.33% -47.83%

181 36 255

178 43 263

-1.66% 19.44% 3.14%

$205,000 $97,000 $190,000

$240,000 17.07% N/A -100.00% $187,450 -1.34%

$212,500 $97,500 $190,000

$216,900 $110,000 $198,500

2.07% 12.82% 4.47%

16 22 45

-11.11% 83.33% 32.35%

223 255 517

211 312 563

-5.38% 22.35% 8.90%

$354,000 $123,000 $287,000

$382,500 $130,050 $250,000

8.05% 5.73% -12.89%

$337,500 $127,000 $195,500

$347,500 $137,750 $210,000

2.96% 8.46% 7.42%

33 11 51

-2.94% 57.14% 6.25%

427 133 650

427 140 647

0.00% 5.26% -0.46%

$241,625 $193,000 $241,625

$220,000 $162,000 $220,000

-8.95% -16.06% -8.95%

$240,000 $177,000 $235,000

$245,000 2.08% $156,950 -11.33% $230,107 -2.08%

-9.68% 706 53.85% 176 17.92% 1,243

776 198 1,384

9.92% 12.50% 11.34%

$92,750 $50,000 $90,000

$112,500 $54,751 $100,000

21.29% 9.50% 11.11%

$100,000 $54,750 $89,700

$105,500 $57,750 $95,000

5.50% 5.48% 5.91%

$175,000 $84,000 $160,000

$180,000 $93,000 $180,000

2.86% 10.71% 12.50%

$164,900 $95,250 $159,700

$168,125 $109,000 $166,000

1.96% 14.44% 3.94% -2.00% 1.16% -0.63%

NORTH HAVEN 1 Family Condo All Sales

ORANGE 1 Family Condo All Sales

OXFORD 1 Family Condo All Sales

9.84% $353,685 $290,000 -24.14% -1.01% $355,000 $312,500

-18.01% $327,500 N/A $370,000 -11.97% $346,028

PROSPECT 1 Family Condo All Sales

1 3 2 2 2

SEYMOUR 1 Family Condo All Sales

1 8 3 2 3

SOUTHBURY 1 Family Condo All Sales

1 8 1 2 3 4

WALLINGFORD 1 Family Condo All Sales

3 4 7 4 8

WATERBURY 1 Family Condo All Sales

6 2 1 3 1 06

56 20 125

WEST HAVEN 1 Family Condo All Sales

3 7 1 0 5 7

26 5 45

-29.73% -50.00% -21.05%

439 100 676

458 108 734

4.33% 8.00% 8.58%

14 -26.32% 0 -100.00% 17 -32.00%

167 14 218

176 9 212

5.39% -35.71% -2.75%

$185,000 N/A $185,000

$237,500 28.38% $200,000 N/A N/A $173,000 $225,000 21.62% $199,750

$196,000 $175,000 $198,500

135 0 144

104 1 119

-22.96% N/A -17.36%

$325,720 N/A $325,720

$365,500 12.21% $362,000 N/A N/A N/A $336,000 3.16% $359,000

$383,500 5.94% N/A N/A $375,000 4.46%

-12.58% 7,270 7.59% 1,975 -5.37% 11,605

7,473 2,237 12,265

$209,500 $130,000 $193,500

$207,000 $134,750 $187,750

$218,000 $140,000 $195,000

WOLCOTT 1 Family Condo All Sales

1 9 2 2 5

WOODBRIDGE 1 Family Condo All Sales

1 3 0 1 3

6 0 8

-53.85% N/A -38.46%

NEW HAVEN COUNTY 1 Family Condo All Sales

6 28 1 45 9 87

549 156 934

2.79% 13.27% 5.69%

-1.19% 3.65% -2.97%

$215,000 $132,500 $190,000

1.40% 5.66% 2.63%

FEBRUARY 2018 | THE COMMERCIAL RECORD | 29

TRENDLINES

NEW LONDON COUNTY SALES REPORT

NUMBER OF SALES DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

27 0 33

22 0 32

-18.52% N/A -3.03%

66.67% 100.00% 69.23%

193 22 248

201 27 258

4.15% 22.73% 4.03%

20 -9.09% 0 -100.00% 24 -22.58%

226 67 345

237 68 363

4.87% 1.49% 5.22% -8.70% N/A -9.09%

DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

BOZRAH 1 Family Condo All Sales

0 0 0

4 0 6

N/A N/A N/A

$155,000 N/A $155,000

$274,500 N/A $260,000

$277,500 N/A $277,500

N/A $225,000 N/A N/A N/A $225,000

$161,000 -28.44% N/A N/A $166,250 -26.11%

COLCHESTER 1 Family Condo All Sales

1 2 1 1 3

20 2 22

1.09% $242,000 N/A $173,000 6.73% $235,000

$244,900 $179,000 $229,950

1.20% 3.47% -2.15%

$310,000 $237,250 $280,000

12.12% 31.81% 7.69%

EAST LYME 1 Family Condo All Sales

2 2 4 3 1

$298,750 $285,000 -4.60% $269,000 -100.00% $294,000 $285,000 -3.06%

$276,500 $180,000 $260,000

FRANKLIN 1 Family Condo All Sales

0 0 1

3 0 4

N/A N/A 300.00%

23 0 33

21 0 30

N/A N/A N/A

$190,000 N/A $156,250

N/A $212,500 N/A N/A N/A $187,500

$201,000 -5.41% N/A N/A $182,500 -2.67%

5 0 8

3 4 11

-40.00% N/A 37.50%

70 6 111

84 13 137

20.00% 116.67% 23.42%

$155,000 N/A $147,500

$217,500 $48,999 $152,000

2 0 8 3 2

20 8 36

0.00% 0.00% 12.50%

295 64 438

337 88 535

14.24% 37.50% 22.15%

$240,750 $110,200 $217,450

$215,200 $93,000 $200,000

1 1 0 1 6

10 0 12

-9.09% N/A -25.00%

101 0 123

116 1 162

14.85% N/A 31.71%

$205,000 N/A $193,000

$217,950 N/A $177,950

1 3 3 1 9

16 1 19

23.08% -66.67% 0.00%

235 18 281

195 15 257

$235,000 $42,000 $227,054

$225,229 -4.16% N/A -100.00% $215,458 -5.11%

1 0 1

5 0 6

400.00% N/A 500.00%

44 0 59

41 0 55

-6.82% N/A -6.78%

N/A N/A N/A

5 0 5

2 0 6

-60.00% N/A 20.00%

43 0 56

24 2 53

-44.19% N/A -5.36%

$365,000 N/A $365,000

N/A -100.00% $395,000 N/A N/A N/A $248,500 -31.92% $370,500

$389,500 -1.39% N/A N/A $385,000 3.91%

12 -25.00% 0 -100.00% 15 -31.82%

186 8 245

215 11 266

15.59% 37.50% 8.57%

$189,500 N/A $179,350

$170,500 -10.03% $180,000 N/A N/A $57,000 $176,000 -1.87% $175,000

$183,000 $55,000 $172,500

5 1 13

-73.68% -83.33% -63.89%

157 44 338

172 34 312

9.55% -22.73% -7.69%

$144,350 $128,750 $141,250

$159,000 10.15% N/A -100.00% $159,000 12.57%

$148,500 1.37% $93,500 -31.25% $141,500 4.26%

-80.00% N/A -53.85%

75 0 109

74 0 110

-1.33% N/A 0.92%

$265,000 N/A $194,000

76.92% -66.67% 19.23%

213 52 364

303 56 481

42.25% 7.69% 32.14%

$126,000 $166,000 $118,500

GRISWOLD 1 Family Condo All Sales

40.32% $140,000 N/A $99,950 3.05% $125,000

$165,500 18.21% $46,500 -53.48% $128,800 3.04%

GROTON 1 Family Condo All Sales

-10.61% -15.61% -8.02%

$232,000 $116,750 $206,357

$229,000 $134,500 $215,000

-1.29% 15.20% 4.19%

$199,000 N/A $187,450

2.05% N/A 0.29%

$223,000 $78,000 $212,000

9.85% 51.46% 6.00%

$189,900 N/A $181,000

3.21% N/A 0.61%

LEBANON 1 Family Condo All Sales

6.32% $195,000 N/A N/A -7.80% $186,900

LEDYARD 1 Family Condo All Sales

-17.02% -16.67% -8.54%

$203,000 $51,500 $200,000

LISBON 1 Family Condo All Sales

$199,900 N/A $187,450

N/A $184,000 N/A N/A N/A $179,900

LYME 1 Family Condo All Sales

MONTVILLE 1 Family Condo All Sales

1 6 1 2 2

1.67% -3.51% -1.43%

NEW LONDON 1 Family Condo All Sales

1 9 6 3 6

$146,500 $136,000 $135,716

NORTH STONINGTON 1 Family Condo All Sales

5 0 1 3

1 0 6

1 3 3 2 6

23 1 31

N/A -100.00% $240,000 N/A N/A N/A $87,450 -54.92% $227,000

$259,500 N/A $239,950

8.13% N/A 5.70%

$132,500 $102,250 $120,000

4.33% -1.40% 12.15%

NORWICH 1 Family Condo All Sales

30 | THE COMMERCIAL RECORD | FEBRUARY 2018

$120,000 -4.76% N/A -100.00% $120,000 1.27%

$127,000 $103,700 $107,000

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

147

122.73%

$917,000

-25.00%

N/A

93.75%

$257,734

$315,000

22.22%

$214,900

26.41%

2017 %CHG YTD 16-17

OLD LYME 1 Family

Condo

83.33%

186

1 Family

12.50%

7.81%

$170,000

Condo

0 -100.00%

-50.00%

N/A

All Sales

200.00% N/A

$362,500 N/A

-60.47%

$346,500

$360,000

3.90%

N/A $252,500

$395,000

56.44%

$335,250

$349,000

4.10%

$216,450

$220,000

1.64%

PRESTON

All Sales

N/A

N/A $120,000

N/A -100.00%

1 2

0.00%

$129,950

$211,950

63.10%

$200,500

$210,175

4.83%

1 Family

-57.14%

34.15%

$255,000

$339,500

33.14%

$268,000

$244,000

-8.96%

Condo

0.00%

N/A

26.98%

$255,000

1 Family

N/A

6.90%

Condo

N/A

0.00%

5.26%

SALEM

All Sales

N/A -55.56%

N/A $271,750

N/A 6.57%

N/A

$230,000

$227,000

-1.30%

N/A $173,145

$210,000

21.29%

SPRAGUE

All Sales

N/A

N/A N/A

$289,900 N/A

$150,000

$289,900

N/A

93.27%

$171,000

$195,000

N/A 14.04%

STONINGTON 1 Family

1 9

-63.16%

176

215

22.16%

$269,900

$349,000

29.31%

$303,750

$325,000

7.00%

Condo

-25.00%

65.00%

$1,117,301

$385,000

-65.54%

$292,500

$343,000

17.26%

3 1

-35.48%

289

330

14.19%

$269,900

$250,333

-7.25%

$278,450

$300,000

7.74%

-33.33%

-30.23%

$175,000

All Sales

VOLUNTOWN 1 Family

Condo

-25.00%

-17.31%

$195,000

$50,000

-74.36%

$168,000

$125,000 -25.60%

$219,000

8.15%

$216,000

$231,750

All Sales

N/A

N/A -100.00% $179,000 N/A

N/A

$140,750 -21.37% N/A

N/A

WATERFORD 1 Family

2 4

-20.83%

308

302

-1.95%

$202,500

Condo

-66.67%

0.00%

$135,000

2 8

-3.57%

399

385

-3.51%

$200,000

$217,500

-4.85% 2,615

All Sales

N/A -100.00% $147,750

7.29%

$121,450 -17.80%

8.75%

$202,000

$222,000

9.90%

NEW LONDON COUNTY 1 Family

2 06

196

Condo

3 4

3 16

291

All Sales

2,891

10.55%

$221,750

$215,729

-2.72%

$212,500

$221,000

4.00%

351

396

12.82%

$132,500

$94,000

-29.06%

$138,000

$132,250

-4.17%

-7.91% 3,810

4,205

10.37%

$200,000

$209,000

4.50%

$192,250

$200,000

4.03%

-38.24%

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 available in a convenient, searchable PDF format through 2009. Each PDF is organized by county, town, and street to make it easy to find the exact 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. Just navigate to commercialrecord.com, log in, click on Rhode Island Records under the Real Estate Transactions tab, and get busy putting The Commercial Record to work for you.

FEBRUARY FEBRUARY 2018 2018 || THE COMMERCIAL RECORD | 31

TRENDLINES

TOLLAND COUNTY SALES REPORT

NUMBER OF SALES DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

ANDOVER 1 Family Condo All Sales

2 0 2

3 0 4

50.00% N/A 100.00%

41 0 49

34 0 47

-17.07% N/A -4.08%

N/A N/A N/A

$204,000 N/A $247,000

N/A $249,000 N/A N/A N/A $230,000

$229,500 -7.83% N/A N/A $217,000 -5.65%

8 0 9

3 0 4

-62.50% N/A -55.56%

61 0 74

60 0 73

-1.64% N/A -1.35%

$230,000 N/A $265,000

$322,800 40.35% $245,000 N/A N/A N/A $311,400 17.51% $247,500

$259,444 5.90% N/A N/A $260,000 5.05%

3 0 5

50.00% N/A 150.00%

71 1 80

77 2 92

8.45% 100.00% 15.00%

N/A N/A N/A

$207,500 N/A $248,550

$219,622 3.35% N/A N/A $219,311 2.60%

9 3 15

0.00% N/A 15.38%

149 11 197

188 13 256

26.17% 18.18% 29.95%

$238,470 N/A $189,900

$167,500 $215,000 $167,500

BOLTON 1 Family Condo All Sales

COLUMBIA 1 Family Condo All Sales

2 0 2

N/A $212,500 N/A N/A N/A $213,750

COVENTRY 1 Family Condo All Sales

9 0 1 3

-29.76% $200,000 N/A $121,900 -11.80% $200,000

$185,500 -7.25% $125,450 2.91% $180,000 -10.00%

ELLINGTON 1 Family Condo All Sales

8 4 1 5

12 1 15

50.00% -75.00% 0.00%

112 31 188

146 43 239

30.36% 38.71% 27.13%

$328,000 $298,900 $285,000

$249,750 -23.86% N/A -100.00% $257,000 -9.82%

$236,250 $132,000 $234,500

$262,500 11.11% $117,000 -11.36% $246,000 4.90%

1 0 1 1 2

7 2 13

-30.00% 100.00% 8.33%

149 7 169

145 13 172

-2.68% 85.71% 1.78%

$233,500 N/A $224,000

$250,000 N/A $215,000

7.07% $249,000 N/A $244,000 -4.02% $244,000

$260,000 4.42% $150,000 -38.52% $255,000 4.51%

1 2 6 2 3

6 4 12

-50.00% -33.33% -47.83%

130 62 233

134 44 217

3.08% -29.03% -6.87%

$223,150 $351,063 $239,800

$219,750 $126,250 $150,500

$221,000 $260,023 $225,000

$223,000 0.90% $197,250 -24.14% $215,000 -4.44%

5 0 9

4 0 6

-20.00% N/A -33.33%

101 6 129

104 5 131

2.97% -16.67% 1.55%

$215,000 N/A $297,900

$207,900 -3.30% $269,000 N/A N/A $361,450 $230,900 -22.49% $265,000

$262,500 -2.42% $153,000 -57.67% $260,000 -1.89% $162,450 -21.90% $65,203 -47.84% $139,900 -17.92%

HEBRON 1 Family Condo All Sales

MANSFIELD 1 Family Condo All Sales

-1.52% -64.04% -37.24%

SOMERS 1 Family Condo All Sales

STAFFORD 1 Family Condo All Sales

9 1 1 5

8 -11.11% 0 -100.00% 10 -33.33%

108 11 180

116 13 179

7.41% 18.18% -0.56%

$177,500 N/A $177,500

$168,500 N/A $168,500

9 0 1 4

6 3 10

-33.33% N/A -28.57%

170 12 207

188 7 232

10.59% -41.67% 12.08%

$317,500 N/A $264,000

$251,250 $252,500 $243,750

1 0 1

2 0 4

100.00% N/A 300.00%

5 0 6

12 0 20

140.00% N/A 233.33%

2 0 9 3 7

15 8 30

-25.00% -11.11% -18.92%

260 79 421

259 87 448

-0.38% 10.13% 6.41%

$168,500 $61,000 $162,000

1 -83.33% 0 -100.00% 2 -71.43%

39 2 51

42 3 53

7.69% 50.00% 3.92%

$192,250 N/A $192,500

-21.78% 1,396 -4.55% 222 -18.24% 1,984

1,505 230 2,159

7.81% 3.60% 8.82%

-5.07% $208,000 N/A $125,000 -5.07% $170,450

TOLLAND 1 Family Condo All Sales

-20.87% $241,750 N/A $110,950 -7.67% $239,000

$246,500 $144,000 $243,338

1.96% 29.79% 1.82%

UNION 1 Family Condo All Sales

N/A N/A N/A

N/A N/A $158,500

N/A $199,000 N/A N/A N/A $220,750

$269,950 35.65% N/A N/A $201,000 -8.95%

VERNON 1 Family Condo All Sales

$178,500 $78,000 $169,950

5.93% 27.87% 4.91%

$176,400 $113,500 $164,000

$179,900 $110,000 $166,000

1.98% -3.08% 1.22%

$200,000 $52,000 $187,000

-9.09% N/A -3.86%

WILLINGTON 1 Family Condo All Sales

6 1 7

N/A -100.00% $220,000 N/A N/A N/A N/A -100.00% $194,500

TOLLAND COUNTY 1 Family Condo All Sales

1 01 2 2 1 59

79 21 130

32 | THE COMMERCIAL RECORD | FEBRUARY 2018

$215,000 $177,500 $215,000

$215,000 $127,000 $195,683

0.00% -28.45% -8.98%

$220,000 $155,000 $209,900

$219,000 -0.45% $124,250 -19.84% $200,000 -4.72%

TRENDLINES

WINDHAM COUNTY SALES REPORT

NUMBER OF SALES DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

DEC. 2016

DEC. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

4.88% N/A 12.28%

$257,500 N/A $257,500

$198,000 -23.11% $180,000 N/A N/A N/A $198,450 -22.93% $169,900

$195,000 $58,000 $195,000

$207,500 N/A $224,950

$225,950 8.89% $205,000 N/A N/A $229,000 $195,000 -13.31% $195,000

$210,000 2.44% N/A - 100.00% $199,900 2.51%

$180,000 -4.26% $202,500 N/A N/A N/A $174,000 19.18% $189,900

$195,000 -3.70% N/A N/A $186,000 -2.05%

ASHFORD 1 Family Condo All Sales

3 0 3

5 0 6

66.67% N/A 100.00%

41 0 57

43 3 64

8.33% N/A 14.77%

8 0 11

100.00% N/A 37.50%

115 6 163

116 0 153

6 0 9

5 0 6

-16.67% N/A -33.33%

58 0 89

63 0 89

8.62% N/A 0.00%

$188,000 N/A $146,000

0 0 0

2 0 2

N/A N/A N/A

25 0 33

30 0 39

20.00% N/A 18.18%

N/A N/A N/A

1 0 1

0.00% N/A -75.00%

19 1 34

17 0 30

1 0 2

N/A N/A N/A

16 0 38

21 0 34

31.25% N/A -10.53%

164 14 249

186 24 298

13.41% 71.43% 19.68%

$146,500 N/A $146,500

$195,000 33.11% $152,000 N/A N/A $139,900 $195,000 33.11% $149,000

$168,500 $135,000 $166,500

10.86% -3.50% 11.74%

25.81% 175.00% 27.17%

$132,500 N/A $135,000

$112,450 -15.13% $135,000 N/A N/A $63,925 $139,900 3.63% $135,000

$149,292 $60,000 $144,450

10.59% -6.14% 7.00%

-4.35% N/A -9.21%

$172,950 N/A $175,000

$312,000 80.40% $229,450 N/A N/A N/A $294,500 68.29% $221,450

$254,500 10.92% N/A N/A $248,000 11.99%

0.98% 36.36% 15.47%

$130,000 $132,900 $138,950

$157,900 $105,850 $110,721

$156,000 $179,900 $147,500

-7.69% N/A 14.29%

$220,000 N/A $220,000

BROOKLYN 1 Family Condo All Sales

4 0 8

0.87% -100.00% -6.13%

CANTERBURY 1 Family Condo All Sales

CHAPLIN 1 Family Condo All Sales

N/A N/A N/A

N/A $180,000 N/A N/A N/A $169,900

$157,800 -12.33% N/A N/A $162,000 -4.65%

N/A N/A $225,000 N/A N/A N/A N/A -100.00% $193,500

$224,000 -0.44% N/A N/A $193,000 -0.26%

N/A N/A N/A

$194,000 2.70% N/A N/A $186,500 40.75%

EASTFORD 1 Family Condo All Sales

1 0 4

-10.53% -100.00% -11.76%

N/A N/A $22,500

HAMPTON 1 Family Condo All Sales

0 0 0

N/A N/A N/A

N/A $188,900 N/A N/A N/A $132,500

KILLINGLY 1 Family Condo All Sales

1 0 1 1 6

11 10.00% 0 -100.00% 19 18.75%

PLAINFIELD 1 Family Condo All Sales

1 7 0 1 9

4 1 9

-76.47% N/A -52.63%

124 4 173

156 11 220

6 0 1 1

4 0 6

-33.33% N/A -45.45%

46 0 76

44 0 69

1 0 3 1 8

9 6 19

102 33 181

103 45 209

26 0 28

24 0 32

POMFRET 1 Family Condo All Sales

PUTNAM 1 Family Condo All Sales

-10.00% 100.00% 5.56%

21.46% -20.35% -20.32%

$149,250 $170,000 $145,000

4.52% 5.82% 1.72%

SCOTLAND 1 Family Condo All Sales

3 0 3

0 -100.00% 0 N/A 0 -100.00%

N/A -100.00% $178,000 N/A N/A N/A N/A -100.00% $178,000

$172,500 -3.09% N/A N/A $160,000 -10.11%

STERLING 1 Family Condo All Sales

2 0 5

7 0 10

250.00% N/A 100.00%

53 3 75

57 2 75

7.55% -33.33% 0.00%

N/A N/A $27,000

$177,000 N/A $189,500 $195,500 3.17% N/A N/A $165,000 -100.00% $154,250 471.30% $171,000 $170,000 -0.58%

1 5 0 1 7

7 0 14

-53.33% N/A -17.65%

159 5 197

125 4 178

-21.38% -20.00% -9.64%

$183,000 N/A $180,000

$235,000 28.42% $190,000 N/A N/A $135,000 $208,000 15.56% $185,000

$195,000 $148,050 $184,000

1 1 0 2 2

7 0 11

-36.36% N/A -50.00%

157 5 217

157 10 242

0.00% 100.00% 11.52%

$124,890 N/A $140,000

$134,000 N/A $136,000

$138,000 2.99% $107,250 -10.63% $137,000 3.79%

4 0 9

-75.00% N/A -55.00%

116 13 186

119 13 180

2.59% 0.00% -3.23%

$225,250 N/A $206,500

$235,000 4.33% $235,500 N/A N/A $120,000 $152,000 -26.39% $215,000

$270,000 $139,750 $229,950

14.65% 16.46% 6.95%

-27.88% 1,221 75.00% 84 -19.35% 1,796

1,261 112 1,912

3.28% 33.33% 6.46%

$163,450 $151,450 $163,000

$195,000 $95,000 $165,000

$179,000 $141,000 $168,000

5.29% 0.71% 4.67%

THOMPSON 1 Family Condo All Sales

2.63% 9.67% -0.54%

WINDHAM 1 Family Condo All Sales

7.29% $134,000 N/A $120,000 -2.86% $132,000

WOODSTOCK 1 Family Condo All Sales

1 6 0 2 0

WINDHAM COUNTY 1 Family Condo All Sales

1 04 4 1 55

75 7 125

19.30% -37.27% 1.23%

$170,000 $140,000 $160,500

FEBRUARY 2018 | THE COMMERCIAL RECORD | 33

FAIRFIELD COUNTY GOSSIP REPORT

Greenwich

Address: 37 Calhoun Drive, Greenwich Price: $5,925,000 Size: 9,326 square feet on 3.18 acres Buyer: 37 Calhoun Dr. LLC Seller: David Gellman and Sheri Gellman Agent: Amanda Miller, Houlihan/Lawrence Sold: 12/15/17

Greenwich

Address: 62 Hunting Ridge Road, Greenwich Price: $5,511,000 Size: 10,000 square feet on 6 acres Buyer: Albert Tucker and Stellar Tucker Seller: Amy Socher and Hylton Socher Agent: Berkshire Hathaway New England

Darien

Address: 26 Searles Road, Darien Price: $5,500,000 Size: 5,500 square feet on 1.53 acres Buyer: Nicole Brady and William Brady Seller: Searles Road Props LLC Agent: Halstead Properties, Jane Glassmeyer Sold: 12/18/17

Properties Sold: 12/28/17

Greenwich

Address: 35 West Way, Greenwich Price: $4,640,000 Size: 4,402 square feet on 0.36 acres Buyer: Famillie Nautic Haus LLC Seller: William Hutto Agent: Halstead Real Estate Sold: 12/15/17

4 2 1

New Canaan

3 Address: 1018 Weed St., New Canaan Price: $4,350,000 Size: 7,039 square feet on 6.1 acres Buyer: Lisa Nahas and Mounir Nahas Seller: Daniel Gardner and Lisa Mawhinney Agent: Houlihan Lawrence Sold: 12/15/17

On the market for well over a year, the property in this monthâ&#x20AC;&#x2122;s third spot finally sold for more than $2.5 million off the original asking price. The five-bedroom waterfront Tudor built in 1998 has five full bathrooms and three half-baths with limestone details. The house features natural woodwork throughout the first floor, central air, window seats and a finished third floor.

34 | THE COMMERCIAL RECORD | FEBRUARY 2018

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