Commercial Record January 2017 by The Warren Group

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REAL ESTATE & FINANCIAL NEWS FOR CONNECTICUT

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FINANCE ISSUE Predicting Demand For 2017â&#x20AC;&#x2122;s Industrial Acquistions, Development Banks Begin Preparations For CECL, FASB Regs Study Says Home Renovation Spending To Peak In New Year

JANUARY 2017 | THE COMMERCIAL RECORD | 1

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inside The Commercial Recordâ&#x20AC;&#x2122;s Finance Issue This issue of The Commercial Record features a look ahead in finance. With a new year, comes change across all industries. Banks begin bracing for new CECL and FASB regulations; home renovations are expected to rise, along with lender competition for HELOC and home equity business; and a shortage of modern warehouse space could come from a new driving source.

14 6

Devil In The Details Banks prepare for new regulations, while bracing against delays in implementation due to data issues or lack of familiarity with technology.

10 Equity Lending Lenders are competing hard for HELOC and home equity business, as home renovation spending is expected to peak in 2017.

14 Retail Reinvented Looking at predictions of industrial acquisitions and development for the new year, e-commerce could drive a shortage of modern warehouse space.

10 8

state statistics

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

20 trendlines 34 gossip report

JANUARY 2017 | THE COMMERCIAL RECORD | 3

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4 | THE COMMERCIAL RECORD | JANUARY 2017

from the editor

RISING RATES MAKE REFIS LESS ATTRACTIVE IN 2017

uckle up for another bumpy ride in 2017’s real estate market.

The story of 2016 is the same as that of 2015; sales rose year-over-year while prices fell. A number of factors contributed to the whole, but the greatest of these was inventory – there were too many houses for sale in too many areas of the state. And of course when supply is up, prices fall. The trend held true across the state – not even Fairfield County was immune. Prices have fallen in the southern county every year since 2013 according to data from The Warren Group, publisher of The Commercial Record. As of October (the most recent month for which data was available at the time of this writing), the year to date median in Fairfield County was down $40,000 from 2015, though sales were only barely up – 6,657 singlefamily homes were sold through October 2015, compared to 6,698 through October 2016.

Estimates for year-end sales figures projected a spike in applications and closings to get ahead of rising interest rates, which have been climbing since the Nov. 8 election and the Federal Reserve’s December decision to raise interest rates. While the Fed’s last-minute rate increase was not a surprise, it will certainly have an impact on markets across the country this year – as will the agency’s indication that it will do so again three more times in 2017. Much of the real estate market is borne of necessity – people need to move for jobs, for health reasons, for expanding and contracting family dynamics, for financial reasons – and minor mortgage rate increases don’t make much of a difference in those circumstances. (And while it may feel like recent rate hikes are not “minor,” rates are in fact still near record lows.)

The impact is felt on the fringes of the market. Potential first-time homebuyers may find themselves locked out by ability-to-repay requirements; ditto for those living on fixed incomes. There’s an upside, though; those who bought at the market’s nadir may find themselves less likely to move up and move on when they currently have a less expensive house, a lower interest rate and smaller monthly payments. This, in turn, results in fewer houses on the market, lessening the glut the state has seen in recent years. On the other hand, there are more than enough Boomers with equity and solid financial footing looking to downsize, and higher rates will likely have little impact on their choices and ability to repay, which may negate any adjustment from other sectors of the market. Connecticut’s refinance landscape is also likely to see some changes this year. Refis were up in October year over year and likely to be so again in November and December as procrastinators hurried to lock in before the year’s end. For the year, however, refis were down compared to 2015 (as of October). Rising rates will make refis less attractive to consumers this year. Many buyers bought low or refinanced into a lower rate; for them, HELOCs and home equity loans make the most sense. That product offering will be big business in 2017 as the market continues to tighten and competition heats up. Whatever the market holds in 2017, it’s going to be an interesting year from all quarters. n

Cassidy Murphy Editorial Director Email: cmurphy@thewarrengroup.com

JANUARY 2017 | THE COMMERCIAL RECORD | 5

The Devil In The Details

BANKS BEGIN PREPARATIONS FOR CECL, FASB REGS Data Issues, Lack Of Familiarity With Modeling Techniques Shouldn’t Delay Implementation

BY LAURA ALIX | COMMERCIAL RECORD STAFF

ere’s a New Year’s resolution you may want to keep: Get your financial institution up to snuff on the Financial Accounting Standards Board’s slew of new rules coming out in the years ahead, including those dreaded changes in calculating credit losses. Amongst other things, banks will have to report changes in equity investments on their income statements, book long-term operating leases on their balance sheets and move to an expected credit losses model for calculating loan-loss reserves. With respect to that first one, if an equity security experiences a decline in value, for instance, the bank’s earnings could take a

hit, said Alan Lloyd, a senior audit manager with the firm Wolf & Co. But just how significant this rule will prove obviously depends on a bank’s level of investment in equities – that is, if they’ve invested at all in those types of securities. “Certain banks seem to have more of an equity investment than others. The research we did indicates that after the financial cri-

6 | THE COMMERCIAL RECORD | JANUARY 2017

sis, banks generally reduced their equity holdings to some extent, so I think banks should be looking at their level of investments in equity securities and stress testing those, probably using scenarios of up to 30 percent declines,” Lloyd said. “If something like that were to happen, could they withstand the hit to capital and would it be material enough to them that they might want to divest some of the holdings in those types of investments?” Generally speaking, larger banks are more likely to have some type of equity investments, but a dip in the value of those equities could also be less material for a larger bank than for a smaller institution, he said. Of potentially greater concern to banks may be the FASB’s new rule concerning longterm operating leases, which historically have been disclosed in the footnotes of a bank or credit union’s financial statement. Under the new rule, which is set to go into effect beginning in December 2018, those operating leases will have to be recorded on the balance sheet as both assets and liabilities. That could have implications for banks with large branch networks or who lease a majority of their branches, and Lloyd and his colleague Martin Caine, a CPA and member of the firm, recommend that bankers start preparing schedules and developing methodologies and models for implementing the guidance sooner than later. While some have fretted that the FASB’s forthcoming rule on operating leases could make long-term leases (those longer than 12 months) less attractive, Caine said that may not be the case. “There are business considerations that might counterbalance an attempt to minimize the liability. You may want to lock in a longer lease because the price is right,” he said. But bankers may want to also take a look at their commercial clients. If and when

those customers start recording operating leases on their balance sheets, that will affect those borrowers’ debt-to-income ratios.

No Time Like The Present As if that wasn’t enough to deal with, bank accountants have also been poring over the final guidance on current expected credit losses, also known as CECL, since it was released in July. Those rules don’t take effect until 2020, but because implementing CECL will mean gathering data and testing models and methodologies to find out which works best, experts say there’s no time like the present to start preparing. “I would say institutions that have the greatest need to do something are the same institutions that are opting to delay,” said Neekis Hammond, a risk management consultant and CPA with the financial analysis firm Sageworks. “Those institutions with data issues and who aren’t as familiar with modeling techniques are the same institutions that are attempting to procrastinate this implementation.” Hammond pointed to surveys Sageworks had conducted showing that roughly 75 per-

“

I would say institutions that have the greatest need to do something are the same institutions that are opting to delay. Those institutions with data issues and who aren’t as familiar with modeling techniques are the same institutions that are attempting to procrastinate this implementation.” — Neekis Hammond, CPA, Risk Management Consultant, Sageworks

cent of bankers want to at least execute a CECL calculation by the year’s end. CECL will require banks to estimate the losses they expect to incur over the life of a loan at the point of origination or purchase and reserve against it accordingly. Almost all the banks surveyed recently by Moody’s Analytics indicated that they expected CECL would ultimately mean they’ll have to beef up their loan loss provisions. Until now, bankers have used the incurred loss model, but CECL will require bankers to use a whole lot more data, and that can include any changes in the bank’s lending policies or changes in the political or economic climate.

And that’s why Hammond and others are advising bankers to start getting their ducks in a row now, so they have time to find out what works and what doesn’t. “A lot of people will tell you, get your data together and institutions interpret that to mean go get data and store it in a warehouse and that is a dangerous road to go down. It can give you a false sense of security,” Hammond said. “Until you execute a lifetime loss calculation, you don’t know what data fields you need or if those data points are accurate.” n Email: lalix@thewarrengroup.com

REAL ESTATE TAX APPEAL SERVICES Do you feel that your property’s revaluation assessment for 2016 is too high? Do you own property in the Towns of Hartford, East Hartford, West Hartford, New Haven, Meriden, East Haven, Orange, Milford, Groton, Westbrook, Killingworth or East Lyme? If you do, then you should contact our firm to pursue an appeal of your assessment. We have represented commercial and residential property owners in real estate tax appeals throughout Connecticut for over 28 years. In most Towns, the deadline for filing an appeal to the Board of Assessment Appeals is February 20, 2017, so you should contact us as soon as possible. Our firm does not earn an attorney fee unless we are able to reduce your assessment. There is no charge for the initial consultation.

If you are interested in pursuing an appeal, please contact David L. Weiss, Esq., 1300 Boston Post Road, #8, Guilford, CT 06437, Tel. No. (203) 533-7178, E-Mail: dlweiss426@gmail.com.

JANUARY 2017 | THE COMMERCIAL RECORD | 7

STATE STATISTICS Number of Single-Family Sales by Price Range

10-Year Single-Family Sales 35,000

30,000

30,625

25,000

26,250 $700K+

15,000 10,000

$500k-$699k

1991

6,000

$400k-$499k

1996

2001

$300k-$399k

2006

2011

2016

$0-$299k

4,800

NUMBER OF SALES

20,000

21,875

17,500

13,125

3,600

8,750

2,400

4,375

1,200 0

0 1991

1996

2001

2006

2011

2016

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

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

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

Lis Pendens and Foreclosures by Month 2,000

Lis Pendens Foreclosure Deeds 1,500

1,000

500

Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov

2014

2015

8 | THE COMMERCIAL RECORD || JANUARY JANUARY2017 2017

2016

Top 5 Lenders by Market Share Refinance Mortgages

Multifamily Median Price $300,000

Quicken Loan Inc | 2016 Rank: 1 | 2015 Rank: 2

2-Family 5.40%

3-Family

$240,000

5.14%

Wells Fargo Bank NA | 2016 Rank: 2 | 2015 Rank: 1

PRICE

$180,000

$120,000

4.96% $60,000

5.24% 0

Webster Bank | 2016 Rank: 3 | 2015 Rank: 3

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 *Statistics include sales January - November All Years Source: The Warren Group

4.39%

20-Year Residential Median Prices 4.85%

$300,000

Single-Family Bank Of America NA | 2016 Rank: 4 | 2015 Rank: 5

Condo $240,000

3.31% $180,000

JPMorgan Chase Bank | 2016 Rank: 5 | 2015 Rank: 6

PRICE

4.06%

$120,000

3.10% $60,000

2.78% 0

2016

2015

*MarketShare percent includes loans through November for both years

96 97 98 99 00 01 02 03 04 04 06 07 08 09 10 11 12 13 14 15 16 *Statistics include median prices January - November All Years Source: The Warren Group

JANUARY JANUARY 2017 | THE COMMERCIAL RECORD | 9

Equity Lending

STUDY SAYS HOME RENOVATION SPENDING TO PEAK IN 2017 Lenders Competing Hard For HELOC, Home Equity Business

BY JIM MORRISON | COMMERCIAL RECORD STAFF

recent report from the Joint Center for Housing Studies of Harvard University predicts that home remodeling spending in the U.S. will peak in the middle of this year. With interest rates just starting to rise and the spring home improvement season closing in, home equity lines of credit (HELOCs) and home equity loans are expected to be big business for lenders. Through the beginning of November 2016 (the most recent month for which data was available), single-family and condominium owners in Connecticut took out 13,050 HELOCs and home equity loans, according to The Warren

Group, publisher of The Commercial Record. The median size loan was $100,000. The towns where the largest number of HELOCs and home equity loans sold were – not surprisingly – concentrated in the southern portion of the state; Nor-

10 | THE COMMERCIAL RECORD | JANUARY 2017

walk, West Hartford, Stamford, Shelton and Milford. The lenders that sold the highest number of HELOCs and home equity loans were Webster Bank (2,059), Bank of America (1,646), People’s

United (1,330), First Niagara (709) and TD Bank (700). Lenders, particularly the large national banks, shied away from these loans after the mortgage crisis. Now they’re trying to get back into one of the strongest product markets – one that’s expected to stay strong for the foreseeable future, said Brendan Coughlin, president of consumer lending at Citizens Bank. “As I look forward to 2017, there are a lot of questions around rising interest rates,” Coughlin said. “When you think about real estate lending, rates are ticking up and most people project the refinance market to slow and the purchase market to heat up. That puts HELOCs in an extraordinarily strong position for the next 10-year run.” Coughlin said most homeowners have either purchased their home or refinanced it at historically low rates, so as rates rise, refinancing becomes a less attractive option. Most would rather keep their primary mortgage at its low rate and take out equity through a HELOC. “For the majority of Americans who want to stay put in their house, this is going to be the way to leverage their equity,” he said. A combination of a strong job market, prices recovering and low interest rates gives consumers the confidence to tap into their equity for responsible purposes, he said. The overwhelming majority of Citizens customers use their equity for home improvement projects, followed by debt consolidation and funding their children’s educations, according to Coughlin. “We’re seeing our originations are up 20 percent year-over-year,” he said. “That’s three years in a row around that level.”

A Bit Cooler Up North In northern Connecticut, where the market is a bit softer, equity lending was strong in 2016, but cooled slightly towards the end of the year, said Joan Beresford Bulanowski, senior vice president and chief mortgage and consumer lending officer at Simsbury Bank.

“Quarters one through three were very good with HELOCs, which are more popular than home equity loans,” Bulanowski said. “The prime did increase over the last few weeks. We’re thinking that if rates continue to rise, 2017 won’t be as robust as it was this year. We’re expecting the first quarter to be on the slow side due to the uncertainty around rates.” Another reason for the slowdown is that the value of many homes in the Nutmeg State still haven’t fully recovered from the crash, leaving homeowners without equity to borrow against, she added. “We’re starting to see more people who are stretching it,” Bulanowski said. “We’ll only lend up to 80 percent loanto-value. We’re seeing appraisals are coming in lower than owners than they should be. Some people want to borrow more money than we can justify.” For lenders of all sizes, the general trend is that banks are getting really bullish on this product and starting to

offer it as a core capability, according to Coughlin. “We’re the sixth largest home equity lender in the U.S., but we only participate in 12 states,” he said. “We’re usually number one or two in the markets we participate in. If there’s a really big national bank getting back into this product line, they can be really strong competition for us.” Bulanowski agreed, saying that 75 percent of her home equity customers already had another account or loan with the bank, so it fits in neatly with their suite of products. “Our delinquency ratios are well below industry standards, typically under 1 percent,” Bulanowski said. “We’ve got really good borrowers. I absolutely think it’s something we will definitely always offer. Being a small community bank, what we sell is service. We can close any loan in 30 to 32 days. We have to.” n Email: jmorrison@thewarrengroup.com

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JANUARY 2017 | THE COMMERCIAL RECORD | 11

C-CHANGES IN CONNECTICUT’S EXECUTIVE SUITES

Seth Goodall, the former New England regional administrator for the U.S. Small Business Administration, was named the new director of SBA lending at Santander Bank. He will now build a team of lenders and banking experts with an extensive knowledge of the SBA’s loan products as part of Santander’s overall effort to grow its SBA lending through the Mid-Atlantic region.

William Pitt Sotheby’s International Realty announced that Trey Bickers has joined the company as a sales agent, based in the firm’s Southport brokerage. The Charlottesville, Virginia native has been involved in real estate for the past 11 years, serving as a licensed real estate appraiser and co-owner of a small family business. He is also a volunteer high school basketball coach.

Orange-based Colonial Properties announced that Kevin Weirsman has rejoined the firm, now as vice president of commercial sales. Weirsman had been working as senior sales executive on CoStar Group’s debt and equity team before his return where he focused on advising regional property investors, REITs, multifamily developers and brokerages.

Hugo Ramirez has joined First County Bank’s retail banking division as assistant vice president and branch manager of 660 Main St. in Norwalk. He will manage the customer relations and new business development for the branch, and manage branch operations. Prior to joining First County Bank, Ramirez was with Patriot Bank as a regional vice president.

NEWS FROM THE FED The Federal Reserve Board on has announced the chairs and deputy chairs of the Federal Reserve Banks for 2017. The Boston appointments include Gary L. Gottlieb as chair and Phillip L. Clay as deputy chair. Gottlieb is CEO of Partners In Health of Boston. Clay is a professor at Massachusetts Institute of Technology. For New York, Sara Horowitz was named chair and Denise Scott was named deputy chair. Horowitz is the executive director of Freelancers Union in Brooklyn and Scott is the executive vice president of New York’s Local Initiatives Support Corp.

12 | THE COMMERCIAL RECORD | JANUARY 2017

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.

KIM GIFFORD REALTOR, WILLIAM PITT SOTHEBY’S Kim Gifford already had sales experience when she began her real estate career, but in the early 2000s, she knew she had to learn how to market herself online. You started out in the insurance business. Did you like it? I was a personal lines agent who sold property, casualty, auto, homeowners, umbrella and boat insurance policies for about eight years. It was a lot of paperwork and I represented about 10 companies. I went from sales from service. It was a lot of negative conversations, so when I got pregnant and about a month away from delivering my son, I said, “I want to work with Ed McMahon and hand out all those big sweepstakes checks.” How did you curate your online presence to bring in more leads? I was working out of my living room. I didn’t have any training. But content marketing companies were contacting me. They said they could boost my leads. I hired a company and paid them a lot and I slowly learned what they did and how it all worked. I was always adding to it. It worked like magic. Zillow sells my business and is very big for me. Realtors who don’t use social media, I see their sales drying up.

BRAD M. HUTENSKY PRINCIPAL AND PRESIDENT, HUTENSKY CAPITAL PARTNERS Commercial real estate runs in the Hutensky family. What criteria do you use to evaluate potential acquisitions? There’s a couple of things. We look at the quality of the real estate and the strength and performance of the tenants, especially the anchors. We look at visibility, the access, the position relative to other properties in the market. And then of course the potential to increase value. How has the decline of anchor stores affected the value of retail properties? Retail real estate in general has had volatility and part of it is created by retailers figuring out the optimal mix between in-store sales and selling via the Internet. And that has led to some tenants growing and other tenants contracting and in some cases closing their doors. Different uses have performed better than others, but as far as our strategy, we are very comfortable looking at tenants in any shopping center deciding if people need to be strengthened or if they need to be replaced, and doing the right thing for the property. Volatility is a huge opportunity for us. We actually look for properties that have a dynamic nature of the tenants, where we can create some value from solving those problems.

ALEXANDER MASSE VICE PRESIDENT, BUSINESS BANKING, CHELSEA GROTON BANK Alexander Masse is one of those increasingly rare bankers who has spent his entire career at the same institution. What kind of businesses do you work with primarily? I would say that we help businesses of all different sizes, honestly. We’ve definitely branched out, now that our commercial lending department is doing more with businesses outside of our immediate area, and we’ve expanded our commercial lending staff, or the bank has, considerably. What kind of conversations are you having with your business clients around fraud? Right now we’re seeing a definite concern toward fraud. This is becoming more and more prominent and more of a conversation with customers. Not only is it check Positive Pay, but it’s also ACH Positive Pay. So all of those electronic transactions that are coming in and hitting their account, customers can actually designate certain businesses that are allowed to debit their account. Anything else that would try to hit their account would show up as an exception for them in Positive Pay, so really it does lock them down from checks clearing but also ACH. That’s one way when customers are concerned about fraud and how can they protect their money, this is one of the hot topics in those conversations.

JANUARY 2017 | THE COMMERCIAL RECORD | 13

Retail Reinvented

DEMAND FOR INDUSTRIAL ACQUISITIONS, DEVELOPMENT PREDICTED FOR 2017 Shortage Of Modern Warehouse Space Driven By E-Commerce

Somerset Square in Glastonbury attracted widespread interest from investors along the Northeast corridor before its December sale to Windsor-based Capstone Properties for $23.6 million.

BY STEVE ADAMS | COMMERCIAL RECORD STAFF

he tug-of-war between online shopping and brick-andmortar stores is affecting more than the frequency of trips to the mall. It’s leaving its mark on values of industrial and retail properties in Connecticut and who’s willing to finance acquisitions and new construction. Demand from e-commerce companies for warehouse and distribution space close to population centers and interstate highways has benefited the industrial real estate market in the Hartford region, including new build-to-suit and speculative development.

At the same time, some lenders are limiting their exposure to traditional retail properties, wary of shrinking store sizes and industry pullbacks. “Retail is something we’re always underweighted in and we’re going to con-

14 | THE COMMERCIAL RECORD | JANUARY 2017

tinue,” said William Wrang, executive vice president of commercial real estate at Waterbury-based Webster Bank. “We like necessity and grocery-anchored retail. But the whole retail paradigm is changing how people buy (commercial) properties. It’s a more complicated asset.” With more consumers bypassing shopping centers, warehouse space for online retailers has become an in-demand asset category, said Patrick Mulready, a partner at CBRE/New England in Hartford. Newer warehouse space with ceiling heights over 24 feet is a scarce commodity.

“You can’t find product right now if you’re a distribution user looking for space in the central Connecticut market,” Mulready said. “There’s nothing available.” That has attracted interest from outof-state institutional investors, some of whom are bankrolling new development. GTJ REIT of New York broke ground in October on a speculative 120,000-squarefoot warehouse in Windsor Locks. On the build-to-suit front, FedEx has begun construction of a 550,000-square-foot sorting facility at the former Aetna campus on Middle Street in Middletown.

Regional Banks Financing Office, Industrial Deals The recent sale of 95 Glastonbury Blvd., a 148,000-square-foot class A office building in Glastonbury’s six-building Somerset Square office park, reflects the type of office deal that is expected to carry over into 2017, said John McCormick, a partner at CBRE/New England who along with Mulready represented the seller, Silverman Group of Short Hills, New Jersey. A partnership controlled by Capstone Properties acquired the property, which is more than 90 percent leased, from The Silverman Group in mid-December for $23.6 million. Liberty Bank provided acquisition financing, part of a category of regional lenders that is expected to remain active in the office and industrial investment sale market in 2017, McCormick said. With a tenant roster dominated by national credit tenants including Hanover Insurance and Liberty Mutual, the property attracted interest from regional investors from Boston to Washington, D.C., McCormick said. In the end, a local buyer won out. “It’s a big deal for our market,” McCormick said. “We were telling people we didn’t know pricing expectations, but it was in the high $20s (per square foot). That got us out of the local pool of buyers, but Capstone has been very interested in growing their Connecticut portfolio and continued to demonstrate their ability to get the deal done.” Eugene Shugrue, chief lending officer at Liberty Bank, said the property’s fundamentals fit the bank’s lending criteria like a glove.

In Fairfield County, downsizing by financial companies such as UBS, RBS and the departure of General Electric’s headquarters have put downward pressure on an office market that’s struggled to attain postrecession rent growth. “It’s a well-tenanted building in a great location,” Shugrue said. “We’re cash flow lenders and sponsorship matters, and they’re good sponsors.” Shugrue said he expects the Middletown-based bank’s nearly $2 billion commercial lending portfolio to expand by 5 percent to 10 percent in 2017, with a concentration on office, multifamily and grocery-anchored shopping centers. It’s more cautious about other retail categories given the industry upheaval, and favors workforce housing over Class A multifamily because of the mature stage in the real estate cycle. In Fairfield County, downsizing by financial companies such as UBS, RBS and the departure of General Electric’s headquarters have put downward pressure on office markets that have struggled to attain post-recession rent growth.

Avison Young’s Fairfield County/ Westchester office projects an increase in financial services employment locally, anticipating industry deregulation under the Trump administration, Managing Director Sean Cahill said. The office, which opened in 2014, is looking to hire five additional office leasing and investment brokers in the new year. “We do think there will be much more growth because there’s such a labor pool in Fairfield County suited to that industry,” Cahill said. “I’m not saying UBS is moving back to Stamford, but it’s an obvious place to grow your business compared to the cost in New York. We expect the tide to come back and raise all boats in the FIRE (finance, insurance and real estate) sector.” n Email: sadams@thewarrengroup.com

JANUARY 2017 | THE COMMERCIAL RECORD | 15

NEWS ROUNDUP CFPB CHARGES REVERSE MORTGAGE COMPANIES WITH DECEPTIVE ADVERTISING

STATE APPROVES NEW MEDICAL MARIJUANA RESEARCH PROGRAM

The Consumer Financial Protection Bureau recently took action against three reverse mortgage companies over what the bureau said was deceptive advertising. The CFPB accused American Advisors Group, Reverse Mortgage Solutions and Aegean Financial of misleading consumers into believing they could not lose their homes with a reverse mortgage. Consequently, the bureau has ordered the three companies to cease those deceptive advertising practices, implement better systems to ensure full compliance with the law and to cough up a penalty. “These companies tricked consumers into believing they could not lose their homes with a reverse mortgage,” CFPB Director Richard Cordray said in a statement. “All mortgage brokers and lenders need to abide by federal advertising disclosure requirements in promoting their products.” The Mortgage Acts and Practices Advertising Rule prohibits misleading claims in mortgage advertising. The Dodd-Frank Wall Street Reform and Consumer Protection Act also prohibits institutions from engaging in deceptive acts or practices, including with regard to advertising of consumer financial products or services. In addition to deceiving consumers into thinking they couldn’t lose their homes with a reverse mortgage, the bureau said that Reverse Mortgage Solutions misrepresented that heirs would inherit the home, without disclosing any conditions of the inheritance, when that is often not the case, and that the company created a false sense of urgency through various marketing efforts. The CFPB said that Aegean Financial falsely affiliated itself with the U.S. government in its Spanish language advertisements. American Advisors will pay a civil penalty of $400,000, while Reverse Mortgage Solutions and Aegean Financial will pay $325,000 and $65,000, respectively.

The state Department of Consumer Protection recently announced that St. Francis Hospital and Medical Center’s medical marijuana research program has been approved by the state. The primary goal of the research program is to compare the effectiveness of medical marijuana versus oxycodone in patients with post traumatic acute, subacute and chronic pain from multiple rib fractures. “We’re pleased to see our research program move forward so quickly in Connecticut. Our medical marijuana program has already given nearly 15,000 patients relief from severe debilitating conditions, and these research programs will provide medical professionals the information they need to help their patients make good health care decisions,” Consumer Protection Commissioner Jonathan A. Harris said in a statement. “The opioid epidemic is devastating families and towns across the country. We need to find alternate methods to effectively and safely treat illnesses and diseases that can save lives and not ruin them. I am very proud that St. Francis Hospital is at the forefront of this research, which is an integral part of our mission to be a transforming healing presence in the communities we serve,” John F. Rodis, president of St. Francis Hospital, said in a statement.

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16 | THE COMMERCIAL RECORD | JANUARY 2017

• • • • •

Major New Haven Office Complex Acquired By New York Investor Capstone Properties Procures Glastonbury Office Building For $23.6M NY Developer Picks Up Stamford Office Complex Hamden Business Center Acquired For $10M Ion Bank Appoints Four New VPs, Branch Managers

EVENTS MAJOR NEW HAVEN OFFICE COMPLEX ACQUIRED BY NEW YORK INVESTOR

BANKWORLD The Warren Group Jan. 13, 2017 Mohegan Sun, 1 Mohegan Sun Blvd., Uncasville, CT 06382 Who should attend: Banking and lending professionals More information: www.thewarrengroupevents.com/bankworld

DANO ENTERPRISES RELOCATING TO NEW FACILITY IN STAMFORD

New Haven’s Marlin Business Center has been purchased by a NewYork based investment firm. Willow Street Equities acquired the property for $4.47 million. The 150,000-square-foot, 16-building complex is located at 85 Willow St. The seller, 85 Willow Street NH LLC, had owned the property for over 15 years. Originally built for Marlin Firearms in the 19th century, the property was converted to a multitenant facility in the late 1970s. O,R&L Commercial brokered the sale.

STATE AND XEROX PARTNER TO KEEP HQ, JOBS IN CT Gov. Dannel P. Malloy announced a partnership with the Xerox Corp. that secures the company’s headquarters and 150 jobs in Norwalk, where it has been located since 2008. As part of the project, Xerox may add between 20 and 40 new jobs in the next four years. The Department of Economic and Community Development will provide a 10-year, $4.4 million, low-interest loan to support the project. Xerox, which was located at 45 Glover Ave., will use the funding to purchase new equipment and make leasehold improvements in its new headquarters in building 201 in the Merritt 7 Corporate Park in Norwalk. “Xerox has been headquartered in Connecticut for almost 50 years and, with this decision, will continue to be part of the economic fabric of this state,” Leslie Varon, Xerox CFO, said in a statement. Earlier in the year, Xerox announced it was separating its printercopier business from its other contract services, like toll booth software and call centers. Xerox will remain in Norwalk, while the business services component, now named Conduent, will move to New Jersey.

Dano Enterprises Inc. has committed to a 22,968-square-foot industrial/warehouse lease at River Bend Center, 4 Omega Drive, in Stamford. The company will relocate its manufacturing facilities from 180 Harvard Ave. Dano is a national supplier of biodegradable and recyclable compactor and refuse bags. Michael Nelson of CBRE Group represented the company. Jonathan Turner of River Bend Center represented ownership. “Dano Enterprises has been a long-time Stamford area tenant and after the acquisition of additional equipment required more space that could accommodate a 100-foot assembly line, high ceilings of up to 28 feet and an abundance of electrical power,” Nelson said in a statement. “Working closely with Dano, we were able to pinpoint 4 Omega Drive as the ideal location, given that the property previously housed a manufacturing facility with similar characteristics.” 4 Omega Center is part of Stamford’s River Bend Center building complex. The 40-acre campus contains 12 buildings specially designed for business continuity, disaster recovery, data centers, advanced technology offices and research and development facilities.

JANUARY 2017 | THE COMMERCIAL RECORD | 17

TOP COMMERCIAL TRANSACTIONS Visit www.commercialrecord.com for a complete list of commercial transactions updated weekly. TOP 3 STATEWIDE 1 Lafayette Pl, Greenwich.................... $70,430,000

3 Club House Cir, Mansfield................. $20,250,000

8 Haviland St, Norwalk.......................... $10,487,500

Use:........................................... Office Bldg-General

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

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

Buyer:............................ BPP Lafayette Putnam LLC

Buyer: .....................................CT Liberty Group LLC

Buyer: ............................. PRPG Haviland Gates LLC

Seller: ............................ Alecta Realestate USA LLC

Seller: .................................... Storrs Acquisition LLC

Seller:..................................................... HGMP LLC

Mtg:.................... Royaalbank Canada 314,961,057

Date: ......................................................... 11/17/16

Date: ......................................................... 11/14/16

Date: ......................................................... 12/05/16

Total Assessed Value (2016): ..................$2,049,600

Total Assessed Value (2016): ..................$3,539,110

Total Assessed Value (2016):................ $35,283,220

Lot Size:.................................................... 982278sf

Lot Size: ...................................................... 50730sf

Lot Size:...................................................... 66647sf

Prior Sale: ................................$26,791,667 (10/12)

Prior Sale: ................................$10,521,345 (10/13)

FAIRFIELD 1 Lafayette Pl, Greenwich.............$70,430,000 Use:...............................................Office Bldg-General Buyer:............................... BPP Lafayette Putnam LLC Seller: ................................Alecta Realestate USA LLC Mtg: ........................Royaalbank Canada 314,961,057 Date: ............................................................ 12/05/16 Total Assessed Value (2016):................... $35,283,220 Lot Size: ......................................................... 66647sf

8 Haviland St, Norwalk...................$10,487,500 Use:............................................... Apartment Building Buyer:................................ PRPG Haviland Gates LLC Seller: ........................................................ HGMP LLC Date: ............................................................ 11/14/16 Total Assessed Value (2016): .....................$3,539,110 Lot Size:......................................................... 50730sf Prior Sale: ...................................$10,521,345 (10/13)

1 Greenwich Pl, Shelton................. $7,300,000 Use:............................................. Commercial Building Buyer: ....................................................Alpha SG LLC Seller: .................................889 Bridgeport Props LLC Mtg: .................................. Bankwell Bank $4,500,000 Date: ............................................................ 11/30/16 Total Assessed Value (2015):..................... $2,100,000 Lot Size:....................................................... 217800sf Prior Sale: .....................................$5,700,000 (01/01)

14 Farmington Ave, Plainville......... $5,500,000 Use:.........................................................Supermarket Buyer:........................................ Plainville Partners LLC Seller: .................................................. Stone Key LLC Date: ............................................................ 11/23/16 Total Assessed Value (2016):..................... $2,977,730 Lot Size: ......................................................... 69260sf

215 Moody Rd, Enfield.................... $2,600,000 Use:..................................................Industrial Building Buyer:......................................................... VCRV LLC Seller:.............................................. Olympia Sales Inc Date: ............................................................ 11/30/16 Total Assessed Value (2016): .....................$1,740,360 Lot Size:........................................................ 283576sf

295 Danbury Rd, New Milford......... $1,470,000 Use:............................................. Commercial Building Buyer:................................... Danbury Automotive Grp Seller:................................................ Hayes Family LP Mtg: ..........................Union Savings Bank $1,500,000 Date: ............................................................ 12/07/16 Total Assessed Value (2016):..................... $1,041,110 Lot Size: ....................................................... 242194sf

683 Winsted Rd, Torrington............ $1,065,000 Use:........................................................Retail-Service Buyer: ............................................ Winsted Plaza LLC Seller: ....................................Connecticut Billards Plaz Mtg: ........................... Peoples United Bank $540,000 Date: ............................................................ 11/23/16 Total Assessed Value (2016): ........................$698,370 Lot Size: ....................................................... 113256sf Prior Sale: ........................................$850,000 (12/01)

6 Main St, Essex.............................. $500,000 Use:............................................. Commercial Building Buyer:.................................. Buttercup Properties LLC Seller: ......................................................Lillian Y Bella Mtg: ..................................Annelisa Santoro $500,000 Date: ............................................................ 12/06/16 Total Assessed Value (2016): ........................$450,600 Lot Size: ......................................................... 16988sf

2303 S Main St, Middletown............ $450,000 Use:..................................................Industrial Building Buyer: ........................................2303 Main Street LLC Seller: .......................................Jem Wire Products Inc Date: ............................................................ 11/09/16 Total Assessed Value (2016):........................ $682,580 Lot Size: ....................................................... 165528sf Prior Sale:........................................ $575,000 (01/96)

HARTFORD 1324 Silas Deane Hwy, Wethersfield... $7,858,347 Use:............................................. Commercial Building Buyer: ...................................Persam Wethersfield LLC Seller: .................................. GGC Real Estate Invest 3 Mtg:...................... Easthampton Svgs Bk $5,000,000 Date: ............................................................ 11/17/16 Total Assessed Value (2016): .....................$1,190,100 Lot Size:......................................................... 52708sf Prior Sale:..................................... $9,490,033 (12/15)

LITCHFIELD 932 E Main St, Torrington............... $1,540,000 Use:...............................................Office Bldg-General Buyer:....................................... JVR Management LLC Seller: ........................................................... GAD LLC Date: ............................................................ 11/04/16 Total Assessed Value (2016): ........................$218,890 Lot Size: ......................................................... 17860sf Prior Sale: ........................................$180,000 (08/09)

MIDDLESEX 50 Nod Rd, Clinton........................... $775,000 Use:............................................. Commercial Building Buyer: ........................................ 50 Nod Holdings LLC Seller:................................................... Robert N Kach Mtg:...................................... Webster Bank $680,000 Date: ............................................................ 11/30/16 Total Assessed Value (2016): ........................$461,100 Lot Size: ....................................................... 374616sf Prior Sale:........................................ $118,000 (03/99)

18 | THE COMMERCIAL RECORD | JANUARY 2017

FEATURED PROPERTY 683 Winsted Rd, Torrington .................................................. ....... $1,065,000 Use: ..................................................................................................Retail-Service Buyer:............................................ ........................................... Winsted Plaza LLC Seller:............................................ ...................................Connecticut Billards Plaz Mtg: ........................................... .......................... Peoples United Bank $540,000 Date:........................................................................................................ 11/23/16 Total Assessed Value (2016): ............................................ .......................$698,370 Lot Size: ........................................... ...................................................... 113256sf Prior Sale: .............................................. ......................................$850,000 (12/01)

NEW HAVEN 95 Research Pkwy, Meriden........... $2,516,336 Use:..................................................Industrial Building Buyer: ....................................3 Oaks Real Estate Corp Seller: ................................................ Cariati Family LP Date: ............................................................ 11/21/16 Total Assessed Value (2016):........................ $864,500 Lot Size: ....................................................... 130680sf Prior Sale: .....................................$1,833,000 (12/07)

703 Whitney Ave, New Haven......... $1,600,000 Use:....................................................... Other Exempt Buyer: ............................................... 703 Whitney LLC Seller: ...................................American Natl Red Cross Date: ............................................................ 11/02/16 Total Assessed Value (2016): .....................$1,117,060 Lot Size:......................................................... 55757sf

262 Bee St, Meriden....................... $1,040,000 Use:.................................................Religious Property Buyer:................................. Upper Room Chrisitian Ctr Seller: ...........................................New Life Church Inc Mtg:....................................... Putnam Bank $780,000 Date: ............................................................ 11/10/16 Total Assessed Value (2016):..................... $1,063,440 Lot Size: ....................................................... 182952sf Prior Sale:..................................... $1,800,000 (05/12)

313 Main St, Norwich..................... $1,950,000 Use:....................................................... Other Exempt Buyer: .......................................315 West Main St LLC Seller:............................................. Legare Realty LLC Mtg: ................................. Willow Tree Plaza $790,000 Date: ............................................................ 11/10/16 Total Assessed Value (2016): ........................$151,100 Lot Size: ........................................................... 4792sf Prior Sale:........................................ $100,000 (02/88)

Route 12, Groton............................ $1,625,000 Use:...................................... Commercial Vacant Land Buyer: ................................... Pleasant Valley Apts LLC Seller: ........................................ Lighthouse Point LLC Date: ............................................................ 11/21/16 Total Assessed Value (2016): ........................$700,000 Lot Size: ....................................................... 544936sf

8 South Rd, Somers........................ $1,400,000 Use:............................................. Commercial Building Buyer: ........................................8-12 South Road LLC Seller: ............................................ Dan Roulier&Assoc Mtg:...................................... United Bank $1,400,000 Date: ............................................................ 12/05/16 Total Assessed Value (2016): ........................$836,100 Lot Size:......................................................... 71003sf Prior Sale: ........................................$170,000 (04/00)

458 Talcottville Rd, Vernon.............. $920,000 Use:............................................................. Retail-Any Buyer: ...................................Johansen Properties LLC Seller: ..................................... Carlo Realty Assoc LLC Mtg: ..........................Carlo Realty Assoc LL $920,000 Date: ............................................................ 12/01/16 Total Assessed Value (2016): ........................$682,620 Lot Size: ....................................................... 186001sf

10-32 Pickett Rd, Plainfield............. $325,000 Use:............................................... Apartment Building Buyer:.............................. Summertime Properties LLC Seller: .................................................. R H Rovaldi Inc Mtg: .............................Jewett City Svgs Bk $415,000 Date: ............................................................ 11/09/16 Total Assessed Value (2016): ........................$270,320 Lot Size: ...................................................... 196020sf

146 Brown Rd, Brooklyn.................. $250,000 Use:.................................. Forest Use-Christmas Trees Buyer: ...................Nathan Bramlett & Pamela Bramlett Seller:.................................................... Trent J Repko Date: ............................................................ 11/17/16 Total Assessed Value (2016): ............................$6,760 Lot Size: ..................................................... 1751112sf Prior Sale: ........................................$200,000 (04/15)

NEW LONDON 201 Salem Tpke, Norwich............... $4,350,000 Use:............................................. Commercial Building Buyer:.................................. Easter Seals Goodwill Ind Seller: .....................................................Suncrest LLC Mtg: ....................................Putnam Bank $3,480,000 Date: ............................................................ 11/16/16 Total Assessed Value (2016):..................... $1,062,600 Lot Size:....................................................... 113256sf Prior Sale: ........................................$310,000 (01/08)

TOLLAND 3 Club House Cir, Mansfield..........$20,250,000 Use:............................................. Commercial Building Buyer: ........................................CT Liberty Group LLC Seller:....................................... Storrs Acquisition LLC Date:............................................................ 11/17/16 Total Assessed Value (2016):..................... $2,049,600 Lot Size: ....................................................... 982278sf Prior Sale:................................... $26,791,667 (10/12)

WINDHAM 551 Westcott Rd, Killingly............... $343,000 Use:..............................................................Farm Use Buyer: ...................................American Sports Centers Seller: .................................... Dexter Properties LLC & American Sports Centers Mtg: ......................... Easthampton Svgs Bk $225,000 Date: ............................................................ 10/31/16 Total Assessed Value (2016): ........................$411,040 Lot Size: ....................................................... 168577sf Prior Sale:........................................ $400,000 (05/09)

JANUARY 2017 | THE COMMERCIAL RECORD | 19

TRENDLINES

FAIRFIELD COUNTY SALES REPORT

NUMBER OF SALES NOV %CHG 2015 2016 15-16 YTD

1 Family

1 4

-7.14%

164

168

2.44%

$342,500

$316,000

-7.74%

$295,000

$297,500

0.85%

Condo

-25.00%

-19.05%

$159,250

$270,000

69.54%

$294,950

$278,000

-5.75%

2 7

-22.22%

294

297

1.02%

$350,000

$300,000

-14.29%

$302,820

$302,839

0.01%

2016 YTD

MEDIAN PRICE

NOV 2015

%CHG 15-16

NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

BETHEL

All Sales

BRIDGEPORT 1 Family

4 6

8.70%

448

515

14.96%

$157,250

$134,500

-14.47%

$153,000

$151,824

-0.77%

Condo

1 6

56.25%

163

254

55.83%

$45,000

$75,000

66.67%

$66,000

$73,250

10.98%

1 08

131

21.30% 1,054

1,278

21.25%

$125,000

0.00%

$132,550

$128,000

-3.43%

All Sales

BROOKFIELD 1 Family

1 3

46.15%

172

184

6.98%

$337,000

$399,000

18.40%

$357,000

$350,000

-1.96%

Condo

0.00%

17.46%

$203,500

$289,900

42.46%

$188,000

$220,000

17.02%

2 3

21.74%

295

314

6.44%

$305,000

$341,900

12.10%

$315,000

$309,500

-1.75%

1 Family

4 1

-19.51%

372

416

11.83%

$297,000

$267,500

-9.93%

$269,000

$270,000

0.37%

Condo

2 3

8.70%

319

362

13.48%

$145,500

$258,900

77.94%

$190,000

0.00%

8 6

-18.60%

937

1,015

8.32%

$283,000

$270,500

-4.42%

$260,000

0.00%

1 Family

1 7

29.41%

333

266

-20.12%

$1,350,000

$1,219,313

-9.68% $1,400,000

$1,300,000

-7.14%

Condo

0.00%

-37.50%

N/A $ 1,619,038

$1,457,250

-9.99%

2 1

23.81%

401

311

-22.44%

$1,350,000

$1,275,000

-5.56% $1,425,000

$1,315,000

-7.72%

1 Family

0.00%

-5.15%

$465,000

$559,900

$600,000

1.69%

Condo

-14.29%

109

104

All Sales

DANBURY

All Sales

DARIEN

All Sales

N/A

EASTON

All Sales

N/A

20.41% N/A

$590,000 N/A

N/A

-4.59%

$465,000

$534,950

15.04%

$580,000

$585,750

0.99%

$539,975

-8.79%

$560,000

$590,000

5.36%

N/A -100.00%

$367,500

$332,500

-9.52%

$530,000

$543,500

2.55%

0.00% $1,495,000

$1,470,000

-1.67%

FAIRFIELD 1 Family

5 2

-19.23%

692

657

-5.06%

$592,000

Condo

-83.33%

10.71%

$362,000

6 6

-21.21%

877

856

-2.39%

$517,500

$539,975

All Sales

4.34%

GREENWICH 1 Family

1 7

23.53%

403

329

-18.36%

$1,175,000

Condo

1 6

-31.25%

140

113

-19.29%

$765,000

$685,000

3 9

-2.56%

644

518

-19.57%

$775,000

$975,000

1 Family

1 2

16.67%

176

179

1.70%

$304,500

$330,250

8.46%

$348,500

$355,000

1.87%

Condo

-16.67%

-11.29%

$206,000

$170,000

-17.48%

$202,000

$228,500

13.12%

2 1

0.00%

263

268

1.90%

$277,000

$318,500

14.98%

$310,650

$330,000

6.23%

-9.58% $1,464,563

$1,447,501

-1.16%

All Sales

-10.46%

$667,500

$675,000

1.12%

25.81% $1,200,000

$1,100,000

-8.33%

MONROE

All Sales

NEW CANAAN 1 Family

1 6

-12.50%

288

198

-31.25%

$1,501,250

$1,357,500

Condo

133.33%

9.80%

$1,250,000

$790,000

2 1

0.00%

375

274

-26.93%

$1,250,000

$379,500

All Sales

-36.80%

$810,000

0.00% $1,340,000

$587,500 -27.47% $1,308,500

-2.35%

-6.12%

NEW FAIRFIELD 1 Family

1 4

-14.29%

160

188

17.50%

$311,000

Condo

-66.67%

-87.50%

$315,030

2 2

-31.82%

208

217

4.33%

$306,015

$310,000

$380,802

All Sales

22.03%

$347,500

$326,250

N/A -100.00%

$299,950

$245,000 -18.32%

1.30%

$320,200

$315,000

28.00%

$370,000

$370,250

0.07%

N/A -100.00%

$336,383

$334,504

-0.56%

$361,000

$367,500

1.80%

-1.62%

NEWTOWN 1 Family

1 5

60.00%

332

346

4.22%

$297,500

Condo

-66.67%

18.18%

$336,383

1 9

42.11%

409

435

6.36%

$304,000

All Sales

20 | THE COMMERCIAL RECORD | JANUARY 2017

$370,000

21.71%

Real estate & credit transactions updated every Thursday

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

NUMBER OF SALES NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

NORWALK 1 Family

4 3

25.58%

605

599

-0.99%

$405,000

$414,000

2.22%

$450,000

$430,000

-4.44%

Condo

2 5

-20.00%

306

314

2.61%

$270,000

$253,750

-6.02%

$270,000

$265,000

-1.85%

7.14% 1,060

1,083

2.17%

$365,000

$388,000

6.30%

$375,500

$380,000

1.20%

109

0.00%

$622,500

$555,000

-10.84%

$510,000

$523,000

2.55%

All Sales

8 4

1 Family

1 2

Condo

1 4

-14.29%

124

133

-20.83%

293 69

REDDING

All Sales

-8.33% N/A

N/A

$264,500

N/A

7.26%

$660,000

$492,500

-25.38%

$511,250

$510,000

-0.24%

306

4.44%

$540,000

$705,000

30.56%

$649,000

$639,500

-1.46%

-7.25%

N/A $222,000

$237,500

6.98%

2.05%

$667,500

$591,000

1.05%

RIDGEFIELD 1 Family

2 4

Condo

2 8

-7.14%

390

398

1 Family

2 4

16.67%

309

329

6.47%

$311,000

Condo

1 0

40.00%

152

143

-5.92%

$309,500

20.00%

538

567

5.39%

233.33%

-15.79%

All Sales

N/A

$524,000

-11.46%

$592,500

$598,750

$323,250

3.94%

$299,900

$322,500

7.54%

$237,500

-23.26%

$268,750

$250,000

-6.98%

$317,000

$323,250

1.97%

$295,000

$307,000

4.07%

$380,000

$325,000

-14.47%

$435,000

$399,950

-8.06%

SHELTON

All Sales

4 5

SHERMAN 1 Family

Condo

266.67%

All Sales

N/A

-9.68%

$380,000

$290,000

-23.68%

$425,000

$375,150 -11.73%

STAMFORD 1 Family

4 0

35.00%

633

646

2.05%

$485,000

$586,250

20.88%

$555,000

Condo

3 4

73.53%

501

606

20.96%

$327,500

$308,000

-5.95%

$297,500

$310,000

4.20%

43.01% 1,364

1,537

12.68%

$422,000

$425,000

0.71%

$431,500

$430,000

-0.35%

All Sales

9 3

133

0.00%

STRATFORD 1 Family

4 4

27.27%

475

560

17.89%

$247,500

$212,250

-14.24%

$225,000

$228,500

1.56%

Condo

2 0

-45.00%

148

141

-4.73%

$192,000

$159,547

-16.90%

$179,500

$167,000

-6.96%

3.75%

754

844

11.94%

$215,051

$212,000

-1.42%

$213,000

$212,000

-0.47%

$332,000

$358,000

7.83%

$358,250

$360,000

0.49%

N/A $322,250

$305,000

-5.35%

All Sales

8 0

TRUMBULL 1 Family

2 3

56.52%

368

477

29.62%

Condo

50.00%

0.00%

2 8

53.57%

435

531

22.07%

$330,500

$351,000

6.20%

$350,000

$355,000

1.43%

1 Family

1 1

27.27%

152

158

3.95%

$607,500

$785,000

29.22%

$806,300

$780,000

-3.26%

Condo

1 3

7.69%

169

0.00%

$607,500

$785,000

-34.38%

347

319

-8.07%

$1,095,000

-8.70% -9.41%

All Sales

N/A

$345,000

WESTON

All Sales

N/A

N/A 29.22%

N/A

$795,000

$760,000

-4.40%

$1,110,000

1.37% $1,184,000

$1,237,500

4.52%

$570,640

N/A $622,750

$635,000

1.97%

$1,020,000

$945,000

-7.35% $1,099,000

$1,171,980

6.64%

$535,000

$827,500

54.67%

$779,500

-6.87%

WESTPORT 1 Family

3 2

Condo

3 7

-27.03%

425

385

1 Family

1 2

50.00%

202

0.00%

Condo

0.00%

-14.71%

1 5

53.33%

261

251

-3.83%

$575,000

$855,000

All Sales

N/A

WILTON

All Sales

N/A

$837,000

N/A $398,500

$340,000 -14.68%

48.70%

$780,000

$720,000

-7.69%

FAIRFIELD COUNTY 1 Family

5 30

590

11.32% 7,187

7,291

1.45%

$386,500

$405,000

4.79%

$462,000

$428,820

-7.18%

Condo

1 78

201

12.92% 2,320

2,491

7.37%

$240,811

$269,000

11.71%

$268,500

$255,000

-5.03%

972

8.00% 11,448

11,841

3.43%

$338,000

$350,500

3.70%

$382,375

$360,000

-5.85%

All Sales

9 00

JANUARY 2017 | THE COMMERCIAL RECORD | 21

TRENDLINES

HARTFORD COUNTY SALES REPORT

NUMBER OF SALES NOV 2015

NOV %CHG 2015 2016 15-16 YTD

7 1 5 2 5

13 8 26

85.71% -46.67% 4.00%

216 133 383

1 2 2 1 9

9 4 16

-25.00% 100.00% -15.79%

1 6 1 2 5

24 4 32

3 0 7 5 2

2016 YTD

MEDIAN PRICE %CHG 15-16

NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

223 103 353

3.24% -22.56% -7.83%

$525,209 $255,000 $280,000

$345,000 $200,000 $321,250

-34.31% -21.57% 14.73%

161 48 254

160 45 236

-0.62% -6.25% -7.09%

$297,100 N/A $280,000

$227,250 $245,000 $228,625

-23.51% $256,000 N/A $242,950 -18.35% $249,500

$244,950 $231,000 $239,500

-4.32% -4.92% -4.01%

50.00% 300.00% 28.00%

216 56 304

235 57 321

8.80% 1.79% 5.59%

$138,000 N/A $197,500

$173,500 $179,500 $186,500

25.72% $174,375 N/A $177,750 -5.57% $179,950

$175,000 $235,000 $193,000

0.36% 32.21% 7.25%

47 5 66

56.67% -28.57% 26.92%

456 89 669

511 109 775

12.06% 22.47% 15.84%

$170,500 $117,000 $142,500

$182,000 $55,000 $169,950

$174,900 $104,000 $163,000

-1.33% -3.26% -1.21%

7 0 7

13 1 16

85.71% N/A 128.57%

109 1 127

104 3 131

-4.59% 200.00% 3.15%

$298,000 N/A $298,000

$295,000 -1.01% $298,000 N/A N/A N/A $258,000 -13.42% $295,000

$274,500 $246,000 $290,000

-7.89% N/A -1.69%

7 3 1 5

13 2 18

85.71% -33.33% 20.00%

96 39 161

110 36 163

14.58% -7.69% 1.24%

$230,000 $340,000 47.83% $225,500 -100.00% $250,000 $310,000 24.00%

AVON 1 Family Condo All Sales

$449,500 $220,000 $332,500

$403,900 -10.14% $200,000 -9.09% $331,000 -0.45%

BERLIN 1 Family Condo All Sales

BLOOMFIELD 1 Family Condo All Sales

BRISTOL 1 Family Condo All Sales

6.74% -52.99% 19.26%

$177,250 $107,500 $165,000

BURLINGTON 1 Family Condo All Sales

CANTON 1 Family Condo All Sales

$302,000 $194,000 $282,000

$311,000 2.98% $149,200 -23.09% $270,000 -4.26%

EAST GRANBY 1 Family Condo All Sales

7 0 8

6 1 9

-14.29% N/A 12.50%

51 10 69

73 11 94

43.14% 10.00% 36.23%

$245,000 N/A $243,750

$240,200 N/A $227,500

-1.96% $250,000 N/A $121,450 -6.67% $252,500

$256,000 $147,000 $252,450

2.40% 21.04% -0.02%

52 9 65

15.56% N/A 4.84%

402 40 568

463 47 642

15.17% 17.50% 13.03%

$125,000 N/A $137,000

$130,000 $64,000 $126,000

4.00% $134,450 N/A $52,500 -8.03% $132,450

$146,000 $90,000 $142,000

8.59% 71.43% 7.21%

7 2 1 2

11 3 23

57.14% 50.00% 91.67%

87 41 168

90 36 178

3.45% -12.20% 5.95%

$225,500 N/A $198,450

$157,400 $209,000 $150,000

-30.20% $186,000 N/A $157,000 -24.41% $161,500

$206,000 $150,950 $165,000

10.75% -3.85% 2.17%

4 0 6 5 2

32 2 52

-20.00% -66.67% 0.00%

434 108 597

434 104 623

0.00% -3.70% 4.36%

$151,950 $148,750 -2.11% $140,450 -100.00% $150,200 $129,700 -13.65%

$165,000 $137,500 $161,500

$168,700 $138,450 $163,500

2.24% 0.69% 1.24%

22 13 37

10.00% -7.14% 5.71%

197 154 397

218 167 423

10.66% 8.44% 6.55%

$296,000 $173,200 $255,000

$277,500 $159,000 $195,000

-6.25% -8.20% -23.53%

$347,500 $185,000 $275,000

$339,000 $180,550 $264,500

-2.45% -2.41% -3.82%

3 0 5 3 5

26 9 40

-13.33% 80.00% 14.29%

364 124 552

423 128 611

16.21% 3.23% 10.69%

$349,000 $160,000 $295,000

$288,725 $155,484 $268,150

-17.27% -2.82% -9.10%

$353,250 $168,950 $300,000

$342,000 $170,000 $305,000

-3.18% 0.62% 1.67%

1 1 3 1 7

11 2 15

0.00% -33.33% -11.76%

142 19 184

136 13 181

-4.23% -31.58% -1.63%

$287,500 $272,000 $272,000

$289,000 0.52% N/A -100.00% $275,000 1.10%

$274,000 $174,900 $260,500

$270,000 $180,500 $264,000

-1.46% 3.20% 1.34%

19 4 57

5.56% -42.86% -6.56%

228 100 669

255 95 750

11.84% -5.00% 12.11%

$140,000 $80,000 $120,000

$112,000 $73,450 $151,500

$109,000 $56,000 $115,000

$120,000 10.09% $49,900 -10.89% $131,900 14.70%

19 0 20

11 0 12

-42.11% N/A -40.00%

EAST HARTFORD 1 Family Condo All Sales

4 5 0 6 2

EAST WINDSOR 1 Family Condo All Sales

ENFIELD 1 Family Condo All Sales

FARMINGTON 1 Family Condo All Sales

2 0 1 4 3 5

GLASTONBURY 1 Family Condo All Sales

GRANBY 1 Family Condo All Sales

HARTFORD 1 Family Condo All Sales

1 8 7 6 1

-20.00% -8.19% 26.25%

HARTLAND 1 Family Condo All Sales

3 0 3

1 0 1

-66.67% N/A -66.67%

22 | THE COMMERCIAL RECORD | JANUARY 2017

$323,000 N/A $323,000

N/A -100.00% $255,000 N/A N/A N/A N/A -100.00% $257,450

$255,000 0.00% N/A N/A $250,000 -2.89%

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

MANCHESTER 1 Family Condo All Sales

3 6 1 2 6 0

54 8 75

50.00% -33.33% 25.00%

446 87 643

520 93 767

16.59% 6.90% 19.28%

$156,450 $117,500 $156,450

$166,650 $114,000 $165,000

6 1 7

200.00% -50.00% 40.00%

71 9 96

75 3 85

40 8 67

33.33% 0.00% 9.84%

331 68 621

27 11 39

28.57% -15.38% 5.41%

18 5 28

6.52% -2.98% 5.47%

$160,450 $118,000 $156,500

$167,000 4.08% $105,000 -11.02% $164,000 4.79%

5.63% -66.67% -11.46%

N/A N/A $203,000

$265,600 N/A $265,000 N/A N/A $203,000 $255,000 25.62% $234,000

$272,500 $214,500 $268,800

377 59 711

13.90% -13.24% 14.49%

$132,500 $94,950 $130,000

$144,625 $62,288 $146,250

9.15% -34.40% 12.50%

$130,000 $77,300 $127,000

$135,000 3.85% $64,000 -17.21% $133,000 4.72%

261 116 424

264 151 458

1.15% 30.17% 8.02%

$209,900 $124,500 $190,000

$175,000 $125,800 $175,000

-16.63% 1.04% -7.89%

$210,000 $138,450 $195,500

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

-5.26% -28.57% -9.68%

147 53 237

139 47 231

-5.44% -11.32% -2.53%

$192,000 $141,000 $173,900

$186,500 $161,500 $184,500

-2.86% 14.54% 6.10%

$179,900 $145,000 $175,000

$181,000 0.61% $124,000 -14.48% $175,000 0.00%

12 16 31

9.09% 128.57% 55.00%

110 103 239

124 143 299

12.73% 38.83% 25.10%

$247,500 $180,000 $210,000

$234,950 $132,950 $170,000

-5.07% -26.14% -19.05%

$240,000 $166,250 $200,000

$291,000 $165,000 $218,000

21.25% -0.75% 9.00%

22 1 25

-15.38% -85.71% -28.57%

276 70 369

347 67 432

25.72% -4.29% 17.07%

$296,250 $159,000 $289,900

$273,000 -7.85% N/A -100.00% $286,000 -1.35%

$315,200 $164,000 $295,000

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

-0.06% -1.52% 1.69%

27 9 41

92.86% 0.00% 57.69%

209 109 348

234 109 376

11.96% 0.00% 8.05%

$280,500 $240,000 $242,500

$258,000 $128,000 $250,000

-8.02% -46.67% 3.09%

$263,000 $155,000 $239,000

$261,500 $159,000 $235,000

-0.57% 2.58% -1.67%

2 9 1 0 4 6

27 4 41

-6.90% -60.00% -10.87%

327 83 515

365 91 556

11.62% 9.64% 7.96%

$287,500 $151,000 $250,750

$262,500 $145,500 $262,500

-8.70% -3.64% 4.69%

$246,900 $172,500 $232,000

$268,000 8.55% $150,000 -13.04% $240,000 3.45%

4 0 6

13 5 23

225.00% N/A 283.33%

121 37 202

133 48 227

9.92% 29.73% 12.38%

$535,000 N/A $470,000

$258,000 $153,500 $258,000

-51.78% $284,500 N/A $155,000 -45.11% $274,950

$295,000 $174,500 $253,000

52 6 65

1.96% 0.00% -1.52%

644 127 851

730 120 956

13.35% -5.51% 12.34%

$255,000 $194,000 $262,750

$272,297 $158,000 $277,093

6.78% -18.56% 5.46%

$297,500 $237,500 $290,000

$300,000 0.84% $210,563 -11.34% $287,700 -0.79%

2 0 4 2 9

32 3 36

60.00% -25.00% 24.14%

293 57 392

360 45 434

22.87% -21.05% 10.71%

$192,720 $111,000 $197,940

$212,500 $65,000 $212,500

10.26% -41.44% 7.36%

$223,700 $141,500 $210,000

$230,000 $129,000 $222,500

2.82% -8.83% 5.95%

2 1 4 2 9

25 8 36

19.05% 100.00% 24.14%

268 49 362

315 65 435

17.54% 32.65% 20.17%

$195,000 $201,500 $195,000

$210,299 $163,250 $207,000

7.85% -18.98% 6.15%

$185,450 $188,500 $188,250

$191,000 $180,000 $187,500

2.99% -4.51% -0.40%

11 3 16

-42.11% -25.00% -38.46%

121 33 190

127 32 199

4.96% -3.03% 4.74%

$166,000 $123,500 $161,750

$195,000 17.47% $253,000 104.86% $203,500 25.81%

$157,500 $124,000 $156,950

$166,500 $131,500 $169,000

5.71% 6.05% 7.68%

18.12% 6,803 -1.90% 1,963 10.83% 10,611

7,556 2,027 11,659

11.07% 3.26% 9.88%

$199,900 $157,500 $186,500

$199,900 $143,000 $189,900

$210,000 $155,000 $193,000

$219,000 $150,000 $199,000

4.29% -3.23% 3.11%

MARLBOROUGH 1 Family Condo All Sales

2 2 5

2.83% 5.67% 14.87%

NEW BRITAIN 1 Family Condo All Sales

3 0 8 6 1

NEWINGTON 1 Family Condo All Sales

2 1 1 3 3 7

-0.05% -2.49% -2.81%

PLAINVILLE 1 Family Condo All Sales

1 9 7 3 1

ROCKY HILL 1 Family Condo All Sales

1 1 7 2 0

SIMSBURY 1 Family Condo All Sales

2 6 7 3 5

SOUTH WINDSOR 1 Family Condo All Sales

1 4 9 2 6

SOUTHINGTON 1 Family Condo All Sales

SUFFIELD 1 Family Condo All Sales

3.69% 12.58% -7.98%

WEST HARTFORD 1 Family Condo All Sales

5 1 6 6 6

WETHERSFIELD 1 Family Condo All Sales

WINDSOR 1 Family Condo All Sales

WINDSOR LOCKS 1 Family Condo All Sales

1 9 4 2 6

HARTFORD COUNTY 1 Family Condo All Sales

5 63 665 1 58 155 9 05 1,003

0.00% -9.21% 1.82%

JANUARY 2017 | THE COMMERCIAL RECORD | 23

TRENDLINES

LITCHFIELD COUNTY SALES REPORT

NUMBER OF SALES NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

BARKHAMSTED 1 Family Condo All Sales

4 0 4

3 0 4

-25.00% N/A 0.00%

39 0 49

30 0 41

-23.08% N/A -16.33%

$204,750 N/A $204,750

$255,000 24.54% $225,000 N/A N/A N/A $270,000 31.87% $205,000

$256,250 13.89% N/A N/A $257,500 25.61%

1 0 4

0.00% N/A 0.00%

32 0 38

29 0 41

-9.38% N/A 7.89%

N/A N/A $69,575

N/A N/A $251,000 N/A N/A N/A $802,500 1053.43% $250,000

$255,000 1.59% N/A N/A $250,000 0.00%

4 0 6

4 0 4

0.00% N/A -33.33%

22 2 30

22 0 33

$730,000 N/A $730,000

$480,000 -34.25% $465,000 N/A N/A N/A $480,000 -34.25% $465,000

$330,000 -29.03% N/A N/A $330,000 -29.03%

0 0 1

2 0 2

N/A N/A 100.00%

8 0 14

14 0 19

75.00% N/A 35.71%

N/A N/A N/A

N/A $262,000 N/A N/A N/A $262,000

$215,000 -17.94% N/A N/A $210,000 -19.85%

2 0 2

N/A N/A 100.00%

14 0 18

21 0 24

50.00% N/A 33.33%

N/A N/A N/A

N/A $190,000 N/A N/A N/A $215,500

$199,500 5.00% N/A N/A $212,800 -1.25%

2 0 3

1 0 1

-50.00% N/A -66.67%

10 0 19

16 0 22

60.00% N/A 15.79%

N/A N/A $300,000

N/A N/A $367,500 N/A N/A N/A N/A -100.00% $157,000

$297,500 -19.05% N/A N/A $345,000 119.75%

2 0 4

5 0 8

150.00% N/A 100.00%

50 0 69

56 1 73

12.00% N/A 5.80%

N/A N/A $252,500

$301,500 N/A $312,500 N/A N/A N/A $290,750 15.15% $300,000

$303,250 -2.96% N/A N/A $300,000 0.00%

1 0 2

4 0 6

300.00% N/A 200.00%

56 2 88

70 1 94

25.00% -50.00% 6.82%

N/A N/A N/A

$285,000 N/A $190,000

$264,000 18.92% N/A N/A $252,500 24.69%

2 0 4

3 1 4

50.00% N/A 0.00%

33 10 54

29 8 54

-12.12% -20.00% 0.00%

N/A N/A $202,500

$210,000 N/A $205,000

56 9 108

73 14 124

30.36% 55.56% 14.81%

$348,600 $336,552 $298,000

$335,359 -3.80% N/A -100.00% $355,180 19.19%

BETHLEHEM 1 Family Condo All Sales

1 0 4

BRIDGEWATER 1 Family Condo All Sales

0.00% -100.00% 10.00%

CANAAN 1 Family Condo All Sales

COLEBROOK 1 Family Condo All Sales

0 0 1

CORNWALL 1 Family Condo All Sales

GOSHEN 1 Family Condo All Sales

HARWINTON 1 Family Condo All Sales

N/A $222,000 N/A N/A N/A $202,500

KENT 1 Family Condo All Sales

N/A $315,000 N/A $165,000 1.23% $268,000

$337,000 $174,950 $270,500

6.98% 6.03% 0.93%

LITCHFIELD 1 Family Condo All Sales

3 3 1 3

7 1 10

133.33% -66.67% -23.08%

$296,500 $336,552 $275,000

$294,000 -0.84% $257,250 -23.56% $305,000 10.91%

3 0 6

2 0 2

-33.33% N/A -66.67%

34 0 43

15 0 25

-55.88% N/A -41.86%

$175,000 N/A $124,744

6 3 11

0.00% N/A 37.50%

73 7 101

56 8 89

-23.29% 14.29% -11.88%

$283,500 N/A $273,500

$312,750 $76,500 $289,900

10.32% $230,000 N/A $99,750 6.00% $209,000

$260,000 $105,000 $220,000

13.04% 5.26% 5.26%

255 79 397

277 61 417

8.63% -22.78% 5.04%

$242,000 $102,000 $221,000

$293,500 $117,500 $238,725

21.28% 15.20% 8.02%

$271,000 $135,000 $245,000

-3.21% 22.73% 4.26%

20 0 26

20 0 30

MORRIS 1 Family Condo All Sales

N/A -100.00% $256,500 N/A N/A N/A N/A -100.00% $249,000

$247,000 -3.70% N/A N/A $225,000 -9.64%

NEW HARTFORD 1 Family Condo All Sales

6 0 8

NEW MILFORD 1 Family Condo All Sales

2 5 1 0 4 1

28 6 44

0 0 0

2 0 4

12.00% -40.00% 7.32%

$280,000 $110,000 $235,000

NORFOLK 1 Family Condo All Sales

N/A N/A N/A

0.00% N/A 15.38%

24 | THE COMMERCIAL RECORD | JANUARY 2017

N/A N/A N/A

N/A N/A $199,625

N/A $229,000 N/A N/A N/A $190,000

$198,250 -13.43% N/A N/A $200,000 5.26%

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

NORTH CANAAN 1 Family

Condo

All Sales

200.00%

100.00%

51.52%

183.33%

109

26.74%

62.50%

N/A

60.00% N/A

N/A N/A N/A

$229,000 N/A $219,500

N/A $130,156 N/A

N/A

N/A $134,400

$159,400 N/A

22.47% N/A

$150,000

11.61%

$165,000

2.96%

PLYMOUTH 1 Family

Condo

175.00%

119

149

25.21%

$115,000

$158,950

38.22%

$151,000

$156,500

1 Family

40.00%

0.00%

$450,000

0.00%

$541,500

$461,000 -14.87%

Condo

100.00%

33.33%

30 1

All Sales

N/A

$136,750 N/A

$159,900 N/A

16.93%

$160,250

N/A $122,420

$97,900 -20.03% 3.64%

ROXBURY

All Sales

N/A

0.00%

$450,000

50.00%

$175,000

300.00%

N/A $380,000

N/A

-15.56%

$435,000

$438,500

0.80%

$1,165,000 565.71%

$420,000

0.00%

SALISBURY 1 Family

Condo

133.33%

47.73%

1 Family

100.00%

29.41%

N/A

Condo

0.00%

N/A

100.00%

17.65%

$250,000

$326,250

30.50%

$284,000

$315,000

10.92%

40.00%

6.38%

$188,000

$217,000

15.43%

$195,000

$212,500

8.97%

50.00%

All Sales

N/A

N/A $175,000

N/A

$317,750

N/A

$382,500

$370,000

-3.27%

N/A $330,500

$325,000

-1.66%

$1,130,000 545.71%

N/A

SHARON

All Sales

N/A

$326,250 N/A

N/A

THOMASTON 1 Family

Condo

25.00%

4.11%

$159,950

$203,500

All Sales

N/A

N/A $107,000

$84,950 -20.61%

27.23%

$169,900

$187,500

10.36%

$132,950

6.36%

TORRINGTON 1 Family

1 7

100.00%

285

354

24.21%

$134,900

$136,500

1.19%

$125,000

Condo

71.43%

26.76%

$60,000

$68,450

14.08%

$77,500

4 0

47.50%

435

565

29.89%

$78,000

$92,000

17.95%

$112,000

11.76%

All Sales

$66,750 -13.87% $115,000

2.68%

WARREN 1 Family

0 -100.00%

Condo

-50.00%

-90.91%

-5.56%

-85.71% -19.05%

$270,000

$169,000

-37.41%

$458,500

$450,000

All Sales

N/A

N/A 43.48%

N/A

N/A $270,000

N/A

N/A $270,000

N/A

$560,000 107.41% N/A

N/A

$300,000

11.11%

$500,000

6.38%

WASHINGTON 1 Family

1 1

Condo

1 5

-80.00%

All Sales

N/A

$262,000 N/A

N/A -100.00% N/A

$470,000

N/A $250,000

N/A - 100.00% -1.85%

WATERTOWN 1 Family

1 7

-11.76%

217

207

-4.61%

$184,000

$212,000

15.22%

$195,000

$190,000

-2.56%

Condo

25.00%

40.00%

$157,750

$150,000

-4.91%

$143,500

$163,250

13.76%

2 7

-7.41%

296

299

1.01%

$165,000

0.00%

$181,000

$185,000

2.21%

11.11%

100

101

1.00%

$93,000

$162,500

74.73%

$135,000

$150,000

11.11%

33.33%

$52,450

$69,500

32.51%

16.92%

$157,500

$158,500

0.63%

$130,000

$135,000

3.85%

All Sales

WINCHESTER 1 Family

Condo

1 1

9.09%

130

152

All Sales

N/A

WOODBURY 1 Family

37.50%

12.50%

$312,500

$295,000

-5.60%

$288,750

$315,500

9.26%

Condo

0.00%

-34.78%

$107,500

$169,000

57.21%

$105,250

$131,000

24.47%

1 2

33.33%

148

152

2.70%

$296,000

$269,750

-8.87%

$253,000

$275,000

8.70%

31.65% 1,704

2.30%

All Sales

LITCHFIELD COUNTY 1 Family

1 39

183

Condo

2 7

2 33

281

All Sales

1,862

9.27%

$210,000

$225,000

7.14%

$215,000

$219,950

277

281

1.44%

$105,000

$103,000

-1.90%

$105,000

$110,000

4.76%

20.60% 2,536

2,801

10.45%

$184,000

$200,000

8.70%

$190,525

$194,000

1.82%

22.22%

JANUARY 2017 | THE COMMERCIAL RECORD | 25

TRENDLINES

MIDDLESEX COUNTY SALES REPORT

NUMBER OF SALES NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

CHESTER 1 Family Condo All Sales

5 0 5

4 0 6

1 2 6 2 4

11 4 17

-20.00% N/A 20.00%

45 2 52

46 0 53

2.22% -100.00% 1.92%

$200,000 N/A $200,000

$206,000 3.00% $300,000 N/A N/A N/A $131,000 -34.50% $296,750

$262,000 -12.67% N/A N/A $250,125 -15.71%

-8.33% -33.33% -29.17%

158 22 206

165 35 237

4.43% 59.09% 15.05%

$259,500 $129,750 $227,500

$304,925 $137,500 $229,000

17.50% 5.97% 0.66%

$255,000 $141,000 $240,000

$259,900 $151,500 $235,000

1.92% 7.45% -2.08%

10 8 23

25.00% -20.00% -8.00%

98 108 248

108 115 261

10.20% 6.48% 5.24%

$198,000 $113,000 $150,000

$241,500 $134,500 $238,000

21.97% 19.03% 58.67%

$220,000 $126,500 $175,000

$254,250 $132,000 $180,100

15.57% 4.35% 2.91%

3 0 4

6 1 7

100.00% N/A 75.00%

40 8 54

54 8 70

35.00% 0.00% 29.63%

$205,000 N/A $170,000

$255,500 24.63% $224,500 N/A N/A $141,225 $220,000 29.41% $221,750

$234,950 $141,500 $233,700

4.65% 0.19% 5.39%

2 0 2

6 0 6

200.00% N/A 200.00%

55 7 72

78 5 95

41.82% -28.57% 31.94%

N/A N/A N/A

$316,000 N/A $316,000

N/A $315,000 N/A $229,000 N/A $289,450

$276,500 -12.22% $160,000 -30.13% $280,000 -3.26%

6 1 8

0.00% N/A -11.11%

97 5 136

120 4 153

23.71% -20.00% 12.50%

$237,000 N/A $229,000

$226,500 N/A $226,500

-4.43% $215,000 N/A $150,000 -1.09% $200,125

$219,000 $172,000 $222,000

$256,000 16.89% N/A -100.00% $219,500 -1.13%

$390,000 N/A $325,000

$340,000 -12.82% $379,900 N/A N/A $221,250 $279,000 -14.15% $334,950

$311,250 -18.07% $215,000 -2.82% $275,500 -17.75%

$181,900 N/A $209,950

N/A $251,250 N/A N/A N/A $226,000

$255,000 1.49% N/A N/A $252,500 11.73%

CLINTON 1 Family Condo All Sales

CROMWELL 1 Family Condo All Sales

8 1 0 2 5

DEEP RIVER 1 Family Condo All Sales

DURHAM 1 Family Condo All Sales

EAST HADDAM 1 Family Condo All Sales

6 0 9

$248,950 $216,839 $230,000

15.79% 44.56% 14.93%

$260,000 $142,750 $253,000

8.79% -2.23% 12.44%

EAST HAMPTON 1 Family Condo All Sales

1 1 3 1 8

12 2 16

9.09% -33.33% -11.11%

155 26 201

149 14 197

-3.87% -46.15% -1.99%

$239,000 $146,000 $225,000

9 1 1 2

9 2 11

0.00% 100.00% -8.33%

63 14 98

80 17 113

26.98% 21.43% 15.31%

1 0 2

7 0 10

600.00% N/A 400.00%

66 0 93

106 0 126

60.61% N/A 35.48%

N/A N/A N/A

8 0 8

100.00% N/A 100.00%

63 0 70

84 0 90

33.33% N/A 28.57%

$362,000 N/A $362,000

$323,500 -10.64% $365,000 N/A N/A N/A $323,500 -10.64% $367,500

$325,000 -10.96% N/A N/A $325,000 -11.56%

44 4 55

50 4 69

13.64% 0.00% 25.45%

$180,000 N/A $265,000

$320,000 77.78% $245,000 N/A N/A $286,726 $205,000 -22.64% $240,000

$255,000 4.08% $198,450 -30.79% $249,900 4.13%

ESSEX 1 Family Condo All Sales

HADDAM 1 Family Condo All Sales

KILLINGWORTH 1 Family Condo All Sales

4 0 4

MIDDLEFIELD 1 Family Condo All Sales

3 1 5

5 66.67% 0 -100.00% 9 80.00%

MIDDLETOWN 1 Family Condo All Sales

2 7 1 4 5 1

38 12 59

40.74% -14.29% 15.69%

305 110 484

295 129 512

-3.28% 17.27% 5.79%

$189,000 $116,500 $145,000

$224,950 $120,750 $183,000

19.02% 3.65% 26.21%

$199,900 $114,000 $169,900

$213,500 $104,000 $172,500

6.80% -8.77% 1.53%

17 3 25

41.67% 0.00% 66.67%

182 25 233

137 14 199

-24.73% -44.00% -14.59%

$313,500 $320,000 $320,000

$348,000 $360,000 $348,000

11.00% 12.50% 8.75%

$340,000 $345,000 $333,000

$366,000 $355,000 $350,000

7.65% 2.90% 5.11%

6 2 13

-33.33% N/A 0.00%

98 19 142

96 18 148

-2.04% -5.26% 4.23%

$220,000 N/A $215,000

$198,000 -10.00% $203,500 N/A N/A $170,000 $180,000 -16.28% $199,450

$232,000 $192,250 $214,100

14.00% 13.09% 7.35%

OLD SAYBROOK 1 Family Condo All Sales

1 2 3 1 5

PORTLAND 1 Family Condo All Sales

9 0 1 3

26 | THE COMMERCIAL RECORD | JANUARY 2017

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NUMBER OF SALES NOV 2015

NOV %CHG 2015 2016 15-16 YTD

MEDIAN PRICE

2016 YTD

%CHG 15-16

NOV 2015

NOV %CHG 2015 2016 15-16 YTD

8 1 23

55 6 106

587.50% 500.00% 360.87%

$260,000 N/A $260,000

$251,250 N/A $243,500

34.78% 1,477 -5.26% 351 27.60% 2,167

1,623 369 2,429

9.88% 5.13% 12.09%

$235,000 $130,950 $212,500

$247,000 $133,500 $228,000

2016 %CHG YTD 15-16

WESTBROOK 1 Family Condo All Sales

3 0 3

10 1 27

233.33% N/A 800.00%

-3.37% $252,500 N/A N/A -6.35% $41,000

$285,000 12.87% $360,950 N/A $259,950 534.02%

MIDDLESEX COUNTY 1 Family Condo All Sales

1 15 3 8 1 92

155 36 245

5.11% 1.95% 7.29%

$248,000 $135,500 $225,000

$260,000 $132,000 $235,000

4.84% -2.58% 4.44%

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JANUARY 2017 | THE COMMERCIAL RECORD | 27

TRENDLINES

NEW HAVEN COUNTY SALES REPORT

NUMBER OF SALES NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

ANSONIA 1 Family Condo All Sales

7 0 1 2

15 3 28

114.29% N/A 133.33%

2 1 4

6 5 13

200.00% 400.00% 225.00%

4 0 4

5 0 7

119 3 197

148 7 228

24.37% 133.33% 15.74%

$155,000 N/A $146,500

$140,000 $166,000 $166,250

-9.68% $167,000 N/A $66,200 13.48% $160,000

$178,000 6.59% $135,000 103.93% $170,500 6.56%

43 16 79

53 20 92

23.26% 25.00% 16.46%

N/A N/A $238,750

$250,000 $498,507 $335,000

N/A $215,000 N/A $255,000 40.31% $229,000

$232,000 $361,850 $251,250

39 0 43

60 0 69

53.85% N/A 60.47%

$250,250 N/A $250,250

$350,000 39.86% $335,050 N/A N/A N/A $280,000 11.89% $339,000

$330,250 -1.43% N/A N/A $309,000 -8.85%

BEACON FALLS 1 Family Condo All Sales

7.91% 41.90% 9.72%

BETHANY 1 Family Condo All Sales

25.00% N/A 75.00%

BRANFORD 1 Family Condo All Sales

1 1 1 4 2 7

16 11 33

45.45% -21.43% 22.22%

191 172 434

206 148 429

7.85% -13.95% -1.15%

$312,900 $165,950 $234,000

$367,250 $155,000 $270,000

17.37% -6.60% 15.38%

$318,000 $154,450 $240,000

$316,000 $154,750 $233,000

-0.63% 0.19% -2.92%

2 1 5 2 9

22 6 33

4.76% 20.00% 13.79%

287 58 383

272 67 391

-5.23% 15.52% 2.09%

$338,000 $163,500 $298,500

$307,750 $76,500 $250,000

-8.95% -53.21% -16.25%

$316,500 $152,750 $290,000

$302,000 $155,000 $279,900

-4.58% 1.47% -3.48%

5 3 1 1

10 2 19

100.00% -33.33% 72.73%

75 34 150

78 35 167

4.00% 2.94% 11.33%

$146,500 $130,000 $130,000

$162,750 11.09% N/A -100.00% $137,000 5.38%

$160,000 $130,000 $137,550

$181,500 $125,500 $152,000

13.44% -3.46% 10.51%

25 6 36

-3.85% 20.00% 9.09%

257 70 361

275 97 418

7.00% 38.57% 15.79%

$177,500 $205,000 $180,000

$159,000 $173,000 $159,500

$180,000 $124,000 $174,500

$180,000 $135,000 $173,000

0.00% 8.87% -0.86%

1 7 2 2 1

42 1 48

147.06% -50.00% 128.57%

241 31 310

268 28 334

11.20% -9.68% 7.74%

$334,000 N/A $334,000

$328,750 N/A $335,000

-1.57% $357,500 N/A $233,500 0.30% $347,500

$350,000 -2.10% $120,000 -48.61% $335,500 -3.45%

3 2 8 4 7

38 10 60

18.75% 25.00% 27.66%

409 103 594

492 114 698

20.29% 10.68% 17.51%

$196,000 $140,000 $188,000

$193,750 $129,250 $173,500

-1.15% -7.68% -7.71%

$195,000 $119,900 $180,000

$190,000 $113,000 $175,375

-2.56% -5.75% -2.57%

1 4 0 2 1

20 0 22

42.86% N/A 4.76%

232 20 284

248 17 291

6.90% -15.00% 2.46%

$360,000 N/A $340,000

$427,000 18.61% $399,500 N/A N/A $236,000 $410,000 20.59% $393,750

$400,000 $245,000 $378,000

0.13% 3.81% -4.00%

4 1 8 6 3

60 10 87

46.34% 25.00% 38.10%

434 102 679

528 133 831

21.66% 30.39% 22.39%

$153,000 $98,500 $140,000

$135,500 $56,750 $127,000

$150,000 $93,925 $135,000

$154,700 $90,000 $134,500

3.13% -4.18% -0.37%

8 1 1 5

9 3 13

12.50% 200.00% -13.33%

72 18 124

80 20 141

11.11% 11.11% 13.71%

$259,500 N/A $300,000

$279,900 $339,875 $315,000

7.86% $277,500 N/A $369,000 5.00% $301,500

$273,500 $407,125 $290,000

-1.44% 10.33% -3.81%

2 1 4

53 2550.00% 8 700.00% 67 1575.00%

437 148 669

532 169 803

21.74% 14.19% 20.03%

N/A N/A $211,000

$263,000 $136,000 $255,000

N/A $273,000 N/A $187,250 20.85% $259,000

$278,500 2.01% $167,500 -10.55% $260,000 0.39%

20 4 29

275 56 400

273 55 394

-0.73% -1.79% -1.50%

$158,500 $54,000 $130,000

$153,450 $64,500 $145,000

-3.19% 19.44% 11.54%

$160,000 $69,000 $148,000

CHESHIRE 1 Family Condo All Sales

DERBY 1 Family Condo All Sales

EAST HAVEN 1 Family Condo All Sales

2 6 5 3 3

-10.42% -15.61% -11.39%

GUILFORD 1 Family Condo All Sales

HAMDEN 1 Family Condo All Sales

MADISON 1 Family Condo All Sales

MERIDEN 1 Family Condo All Sales

-11.44% -42.39% -9.29%

MIDDLEBURY 1 Family Condo All Sales

MILFORD 1 Family Condo All Sales

NAUGATUCK 1 Family Condo All Sales

3 2 5 4 3

-37.50% -20.00% -32.56%

28 | THE COMMERCIAL RECORD | JANUARY 2017

$155,000 $59,700 $135,500

3.23% 15.58% 9.23%

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES NOV 2015

NOV %CHG 2015 2016 15-16 YTD

MEDIAN PRICE

2016 YTD

%CHG 15-16

288 144 801

350 146 952

21.53% 1.39% 18.85%

107 29 156

119 17 156

225 27 283

NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

NEW HAVEN 1 Family Condo All Sales

2 3 1 0 7 0

30 8 75

30.43% -20.00% 7.14%

$140,000 $143,500 $157,950

$173,000 $166,000 $170,000

23.57% 15.68% 7.63%

$160,101 $125,000 $155,500

$172,875 $138,000 $164,950

7.98% 10.40% 6.08%

11.21% -41.38% 0.00%

$248,500 N/A $248,500

$297,500 19.72% $260,000 N/A N/A $159,800 $252,500 1.61% $240,750

$259,000 $160,000 $247,750

-0.38% 0.13% 2.91%

237 27 322

5.33% 0.00% 13.78%

$285,000 N/A $288,000

$258,750 $392,716 $287,500

-9.21% $265,000 N/A $233,300 -0.17% $263,500

$267,000 $233,000 $266,000

0.75% -0.13% 0.95%

140 12 177

139 8 172

-0.71% -33.33% -2.82%

$340,000 N/A $340,000

$390,000 14.71% $351,050 N/A N/A $366,394 $395,500 16.32% $357,000

$346,000 $408,184 $359,500

-1.44% 11.41% 0.70%

-11.11% 0.00% -11.76%

92 37 173

112 28 183

21.74% -24.32% 5.78%

$260,000 $401,329 $309,000

$287,500 $389,469 $290,000

10.58% -2.96% -6.15%

$301,750 $369,995 $345,000

$322,500 $370,000 $345,000

6.88% 0.00% 0.00%

3 -57.14% 0 -100.00% 3 -75.00%

102 18 151

84 24 130

-17.65% 33.33% -13.91%

$300,000 N/A $292,000

$278,500 N/A $278,500

-7.17% $263,500 N/A $333,500 -4.62% $275,000

$263,750 $361,928 $275,403

0.09% 8.52% 0.15%

NORTH BRANFORD 1 Family Condo All Sales

1 2 0 1 8

11 0 18

-8.33% N/A 0.00%

NORTH HAVEN 1 Family Condo All Sales

2 5 2 3 2

12 3 20

1 1 0 1 3

11 0 12

9 4 1 7

8 4 15

-52.00% 50.00% -37.50%

ORANGE 1 Family Condo All Sales

0.00% N/A -7.69%

OXFORD 1 Family Condo All Sales

PROSPECT 1 Family Condo All Sales

7 2 1 2

SEYMOUR 1 Family Condo All Sales

1 6 3 2 7

12 5 19

-25.00% 66.67% -29.63%

139 30 210

163 33 232

17.27% 10.00% 10.48%

$189,500 $65,100 $175,000

$209,875 $90,000 $126,100

10.75% 38.25% -27.94%

$216,000 $96,750 $189,500

$215,000 $98,000 $190,409

-0.46% 1.29% 0.48%

27 22 53

107.69% 22.22% 51.43%

149 212 406

205 243 483

37.58% 14.62% 18.97%

$350,000 $117,325 $178,000

$300,000 $143,000 $245,000

-14.29% 21.88% 37.64%

$350,000 $122,750 $182,200

$335,000 $129,000 $195,000

-4.29% 5.09% 7.03%

31 8 44

19.23% -20.00% 7.32%

320 123 518

393 126 602

22.81% 2.44% 16.22%

$220,501 $170,500 $216,001

$236,122 $118,250 $231,000

7.08% -30.65% 6.94%

$245,500 $165,000 $230,000

$240,000 $176,298 $235,000

-2.24% 6.85% 2.17%

47 10 86

-26.56% 563 -47.37% 218 -19.63% 1,078

633 162 1,122

12.43% -25.69% 4.08%

$93,000 $39,500 $73,500

$80,000 $53,500 $83,750

-13.98% 35.44% 13.95%

$96,000 $44,210 $75,000

$100,000 $54,750 $88,690

4.17% 23.84% 18.25%

$150,000 $79,580 $150,000

$177,000 $80,000 $176,000

18.00% 0.53% 17.33%

$153,450 $100,000 $150,000

$163,000 $100,000 $159,500

6.22% 0.00% 6.33%

$190,000 N/A $190,000

$210,000 10.53% $196,000 N/A N/A $276,000 $216,000 13.68% $199,000

$211,913 8.12% $173,000 -37.32% $202,800 1.91%

$321,250 N/A $321,250

$348,500 N/A $348,500

$373,000 -3.12% N/A N/A $362,000 -5.97%

$185,000 $125,000 $172,000

$214,000 $129,900 $190,000

SOUTHBURY 1 Family Condo All Sales

1 3 1 8 3 5

WALLINGFORD 1 Family Condo All Sales

2 6 1 0 4 1

WATERBURY 1 Family Condo All Sales

6 4 1 9 1 07

WEST HAVEN 1 Family Condo All Sales

3 5 4 4 7

45 7 64

28.57% 75.00% 36.17%

344 80 526

402 90 619

16.86% 12.50% 17.68%

13 1 18

-23.53% N/A -5.26%

159 15 193

144 12 189

-9.43% -20.00% -2.07%

8 0 8

0.00% N/A 0.00%

113 0 122

122 0 131

22.75% 5,852 9.60% 1,776 19.23% 9,501

6,616 1,826 10,579

WOLCOTT 1 Family Condo All Sales

1 7 0 1 9

WOODBRIDGE 1 Family Condo All Sales

8 0 8

7.96% N/A 7.38%

8.48% $385,000 N/A N/A 8.48% $385,000

NEW HAVEN COUNTY 1 Family Condo All Sales

4 88 1 25 7 80

599 137 930

13.06% 2.82% 11.35%

15.68% 3.92% 10.47%

$216,475 $129,900 $185,000

$216,000 $132,926 $190,000

-0.22% 2.33% 2.70%

JANUARY 2017 | THE COMMERCIAL RECORD | 29

TRENDLINES

NEW LONDON COUNTY SALES REPORT

NUMBER OF SALES NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

BOZRAH 1 Family Condo All Sales

3 0 3

0 -100.00% 0 N/A 1 -66.67%

25 0 32

27 0 33

8.00% N/A 3.13%

$165,000 N/A $165,000

N/A -100.00% $165,000 N/A N/A N/A N/A -100.00% $187,500

$225,000 36.36% N/A N/A $225,000 20.00%

COLCHESTER 1 Family Condo All Sales

1 0 1 1 2

11 3 18

10.00% 200.00% 50.00%

141 22 188

179 21 233

26.95% -4.55% 23.94%

$242,950 N/A $242,950

$285,000 $144,000 $276,500

17.31% $219,900 N/A $155,000 13.81% $217,250

$241,400 $178,000 $235,000

9.78% 14.84% 8.17%

22 9 33

37.50% 350.00% 37.50%

182 55 316

204 63 314

12.09% 14.55% -0.63%

$229,500 N/A $232,500

$273,313 $254,000 $271,000

19.09% $286,000 N/A $188,000 16.56% $240,000

$275,313 $180,000 $260,000

-3.74% -4.26% 8.33%

15 0 31

23 0 32

53.33% N/A 3.23%

N/A N/A $315,000

57 7 83

63 6 101

10.53% -14.29% 21.69%

$159,500 N/A $119,000

$150,000 -5.96% $161,500 N/A N/A $66,500 $100,000 -15.97% $139,000

$140,000 -13.31% $99,950 50.30% $112,000 -19.42%

23.18% -30.38% 14.00%

$227,500 $140,900 $203,500

$252,000 $109,400 $220,000

$231,000 $124,000 $205,000

EAST LYME 1 Family Condo All Sales

1 6 2 2 4

FRANKLIN 1 Family Condo All Sales

0 0 4

1 0 1

N/A N/A -75.00%

N/A N/A $184,500 N/A N/A N/A N/A -100.00% $200,000

$212,500 15.18% N/A N/A $193,750 -3.13%

GRISWOLD 1 Family Condo All Sales

6 1 9

5 -16.67% 0 -100.00% 9 0.00%

GROTON 1 Family Condo All Sales

2 4 4 3 2

23 6 37

-4.17% 50.00% 15.63%

220 79 350

271 55 399

10.77% -22.36% 8.11%

$250,000 $129,000 $199,950

-7.60% -3.88% 2.53%

2 0 4

9 0 10

350.00% N/A 150.00%

57 0 82

87 0 104

52.63% N/A 26.83%

N/A N/A $232,750

$195,500 N/A $190,000 N/A N/A N/A $196,750 -15.47% $172,500

$190,000 0.00% N/A N/A $185,450 7.51%

1 9 2 2 3

19 3 23

0.00% 50.00% 0.00%

178 12 212

222 15 262

24.72% 25.00% 23.58%

$197,000 N/A $189,900

$194,900 $88,000 $185,000

$201,434 $67,500 $199,000

3 0 4

7 0 7

133.33% N/A 75.00%

37 0 55

43 0 58

16.22% N/A 5.45%

$177,000 N/A $143,500

$182,000 2.82% $185,000 N/A N/A N/A $182,000 26.83% $170,000

$185,000 0.00% N/A N/A $176,950 4.09%

2 0 4

4 0 4

100.00% N/A 0.00%

19 1 35

38 0 51

100.00% -100.00% 45.71%

N/A N/A $427,500

$522,500 N/A $490,000 N/A N/A N/A $522,500 22.22% $479,000

$408,000 -16.73% N/A N/A $376,000 -21.50%

17 1 22

70.00% N/A 69.23%

147 7 183

170 7 223

15.65% 0.00% 21.86%

$126,500 N/A $120,000

$179,900 42.21% $169,900 N/A N/A $48,000 $179,900 49.92% $163,500

$179,950 $52,000 $174,500

5.92% 8.33% 6.73%

169 29 289

138 38 302

-18.34% 31.03% 4.50%

$140,000 N/A $104,000

$142,000 $125,000 $125,000

$146,750 $136,000 $133,000

1.21% 94.29% -3.41%

70 0 96

$229,999 N/A $232,500

$295,000 28.26% $219,000 N/A N/A N/A $229,000 -1.51% $217,500

$239,450 9.34% N/A N/A $228,000 4.83%

192 39 316

200 49 338

$128,000 $72,500 $99,500

$127,500 $70,750 $100,000

$127,500 $102,500 $105,000

LEBANON 1 Family Condo All Sales

LEDYARD 1 Family Condo All Sales

-1.07% $195,500 N/A $67,500 -2.58% $191,500

3.04% 0.00% 3.92%

LISBON 1 Family Condo All Sales

LYME 1 Family Condo All Sales

MONTVILLE 1 Family Condo All Sales

1 0 0 1 3

NEW LONDON 1 Family Condo All Sales

1 2 2 2 4

13 5 29

8.33% 150.00% 20.83%

1.43% $145,000 N/A $70,000 20.19% $137,700

NORTH STONINGTON 1 Family Condo All Sales

5 0 8

5 0 9

1 1 7 2 8

20 4 34

0.00% N/A 12.50%

0.00% N/A 0.00%

NORWICH 1 Family Condo All Sales

81.82% -42.86% 21.43%

4.17% 25.64% 6.96%

30 | THE COMMERCIAL RECORD | JANUARY 2017

-0.39% -2.41% 0.50%

$110,000 $91,000 $98,000

15.91% 12.64% 7.14%

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

NOV 2015

$495,000

NOV %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

OLD LYME 1 Family

0 -100.00%

-32.98%

Condo

0 -100.00%

0.00% -29.69%

$440,000

$218,000

-50.45%

$379,583

$338,750 -10.76%

$245,500

$191,500

-22.00%

$183,000

$219,000

All Sales

N/A

1 1

-72.73%

128

1 Family

0.00%

-13.85%

Condo

0.00%

200.00%

16.67%

-10.34%

1 Family

100.00%

-15.00%

N/A

Condo

0.00%

N/A

300.00%

0.00%

N/A

1 Family

-33.33%

31.82%

Condo

-33.33%

20.69%

$64,900

N/A -100.00% N/A

$401,250

$343,000 -14.52%

N/A $392,500

$252,500 -35.67%

PRESTON

All Sales

N/A $133,122

N/A

$180,000

$209,100

16.17%

N/A

N/A $251,450

$269,000

6.98%

N/A

28.83%

N/A

19.67%

$130,000

$171,500

N/A

SALEM

All Sales

N/A

$159,950

N/A

N/A $236,500

N/A $224,500

N/A -5.07%

SPRAGUE

All Sales

N/A

$64,900 N/A

N/A -100.00% N/A

N/A

N/A -100.00%

$200,250 N/A

$173,145 -13.54% N/A

N/A

$200,000

$172,000 -14.00%

3.00%

$309,000

$322,000

N/A -100.00%

$397,500

$292,500 -26.42%

$290,000

$278,450

-3.98%

$183,250

1.81%

STONINGTON 1 Family

1 6

6.25%

178

152

-14.61%

$291,250

Condo

-75.00%

-48.15%

$222,500

2 6

7.69%

254

259

1.97%

$257,500

-50.00%

53.85%

-75.00%

All Sales

$300,000 $244,000

-5.24%

4.21%

VOLUNTOWN 1 Family

Condo

All Sales

N/A

N/A $180,000

N/A

60.00%

$187,100 -100.00%

$180,000

$157,500 -12.50%

35.09%

$226,500

$219,950

N/A -100.00%

$139,500

$148,000

6.09%

43.78%

$210,000

$204,000

-2.86%

WATERFORD 1 Family

2 0

30.00%

255

284

11.37%

$208,750

Condo

-85.71%

-24.49%

$155,000

2 9

24.14%

336

371

10.42%

$185,000

$266,000

17.51% 2,189

All Sales

$282,000

-2.89%

NEW LONDON COUNTY 1 Family

1 77

208

Condo

3 2

2 72

318

All Sales

2,393

9.32%

$207,000

$212,000

2.42%

$208,000

$210,000

0.96%

334

314

-5.99%

$109,000

$127,000

16.51%

$139,950

$135,500

-3.18%

16.91% 3,186

3,481

9.26%

$183,276

$195,250

6.53%

$190,000

0.00%

6.25%

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JANUARY JANUARY 2017 | THE COMMERCIAL RECORD | 31

TRENDLINES

TOLLAND COUNTY SALES REPORT

NUMBER OF SALES NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

ANDOVER 1 Family Condo All Sales

2 0 2

4 0 4

100.00% N/A 100.00%

31 0 40

39 0 47

25.81% N/A 17.50%

N/A N/A N/A

5 0 6

4 0 6

-20.00% N/A 0.00%

45 0 57

53 0 65

17.78% N/A 14.04%

7 0 7

133.33% N/A 40.00%

74 0 93

69 1 78

17 2 20

88.89% N/A 42.86%

136 8 185

$280,000 N/A $280,000

N/A $220,000 N/A N/A N/A $194,450

$249,000 13.18% N/A N/A $230,000 18.28%

$231,000 N/A $253,000

$147,450 -36.17% $236,000 N/A N/A N/A $147,450 -41.72% $210,000

$245,000 3.81% N/A N/A $245,000 16.67%

-6.76% N/A -16.13%

$172,000 N/A $148,000

$257,700 49.83% $222,750 N/A N/A N/A $257,700 74.12% $216,500

$212,500 -4.60% N/A N/A $213,750 -1.27%

140 11 184

2.94% 37.50% -0.54%

$295,000 N/A $290,000

$195,000 -33.90% $209,500 N/A N/A $114,800 $173,000 -40.34% $207,000

$200,000 $121,900 $200,000

-4.53% 6.18% -3.38%

BOLTON 1 Family Condo All Sales

COLUMBIA 1 Family Condo All Sales

3 0 5

COVENTRY 1 Family Condo All Sales

9 0 1 4

ELLINGTON 1 Family Condo All Sales

1 0 1 1 5

6 2 9

-40.00% 100.00% -40.00%

115 23 181

104 27 173

-9.57% 17.39% -4.42%

$192,000 N/A $194,000

$262,500 36.72% $243,500 N/A N/A $128,000 $161,550 -16.73% $235,000

$234,500 $119,000 $227,500

-3.70% -7.03% -3.19%

8 2 1 2

17 1 20

112.50% -50.00% 66.67%

97 2 122

139 6 157

43.30% 200.00% 28.69%

$262,500 N/A $262,500

$262,500 N/A $265,000

$252,000 $250,000 $245,000

-6.63% N/A -4.85%

7 2 1 3

4 3 14

-42.86% 50.00% 7.69%

97 28 151

118 56 210

21.65% 100.00% 39.07%

$214,000 N/A $229,000

$202,000 $300,000 $144,500

-5.61% $220,000 N/A $186,750 -36.90% $205,000

$221,000 $249,000 $223,500

0.45% 33.33% 9.02%

5 1 8

9 80.00% 0 -100.00% 11 37.50%

80 3 112

94 6 117

17.50% 100.00% 4.46%

$225,000 N/A $285,000

$292,900 30.18% $261,000 N/A N/A $345,000 $275,000 -3.51% $263,000

$272,250 $361,450 $269,000

4.31% 4.77% 2.28%

1 2 1 1 6

7 -41.67% 0 -100.00% 10 -37.50%

106 14 152

97 10 162

-8.49% -28.57% 6.58%

$202,750 N/A $129,950

$245,000 20.84% $179,700 N/A N/A $91,000 $217,450 67.33% $156,775

$210,000 $113,500 $170,450

16.86% 24.73% 8.72%

1 1 0 1 1

12 1 14

9.09% N/A 27.27%

136 9 163

161 12 193

18.38% 33.33% 18.40%

$222,500 N/A $222,500

$283,750 27.53% $268,000 N/A N/A $137,000 $283,750 27.53% $254,000

$238,000 -11.19% $110,950 -19.01% $235,000 -7.48%

0 0 0

N/A N/A N/A

7 0 11

4 0 5

1 9 6 3 2

26 5 35

236 88 383

240 70 384

1.69% -20.45% 0.26%

$199,900 $179,000 $186,250

$165,500 $167,000 $164,000

50 3 60

33 1 44

-34.00% -66.67% -26.67%

$286,000 N/A $286,000

N/A -100.00% $206,950 N/A N/A $107,000 $176,000 -38.46% $199,950

$223,000 7.76% N/A - 100.00% $202,500 1.28%

21.28% 1,210 15.38% 178 11.68% 1,710

1,291 200 1,819

6.69% 12.36% 6.37%

$218,013 $200,100 $207,500

$227,000 $167,000 $197,450

$220,000 $150,950 $209,000

HEBRON 1 Family Condo All Sales

0.00% $269,900 N/A N/A 0.95% $257,500

MANSFIELD 1 Family Condo All Sales

SOMERS 1 Family Condo All Sales

STAFFORD 1 Family Condo All Sales

TOLLAND 1 Family Condo All Sales

UNION 1 Family Condo All Sales

-42.86% N/A -54.55%

N/A N/A N/A

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

$196,250 36.28% N/A N/A $199,000 38.19%

VERNON 1 Family Condo All Sales

36.84% -16.67% 9.38%

-17.21% -6.70% -11.95%

$181,000 $115,000 $162,000

$177,500 $116,750 $164,500

-1.93% 1.52% 1.54%

WILLINGTON 1 Family Condo All Sales

3 0 3

1 1 3

-66.67% N/A 0.00%

TOLLAND COUNTY 1 Family Condo All Sales

9 4 1 3 1 37

114 15 153

32 | THE COMMERCIAL RECORD | JANUARY 2017

4.12% -16.54% -4.84%

$220,000 $118,000 $204,525

0.00% 27.92% 2.19%

TRENDLINES

WINDHAM COUNTY SALES REPORT

NUMBER OF SALES NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 YTD

MEDIAN PRICE %CHG 15-16

NOV 2015

NOV %CHG 2015 2016 15-16 YTD

2016 %CHG YTD 15-16

ASHFORD 1 Family Condo All Sales

0 1 1

5 N/A 0 -100.00% 7 600.00%

28 1 38

38 0 54

35.71% -100.00% 42.11%

N/A N/A N/A

$166,900 N/A $166,900

N/A $173,500 N/A N/A N/A $166,000

$177,500 2.31% N/A N/A $168,450 1.48%

115 6 154

111 6 155

-3.48% 0.00% 0.65%

$169,450 N/A $222,000

$211,500 24.82% $180,000 N/A N/A $228,500 $219,000 -1.35% $177,250

$205,000 $229,000 $194,000

6.12% N/A 26.98%

$189,900 N/A $189,900

$192,900 N/A $198,000

1.58% $185,000 N/A N/A 4.27% $179,400

$202,500 9.46% N/A N/A $191,400 6.69%

N/A N/A N/A

N/A $154,000 N/A N/A N/A $145,000

$180,000 16.88% N/A N/A $169,900 17.17%

N/A N/A $261,200

N/A $195,800 N/A N/A N/A $230,000

$230,000 17.47% N/A N/A $202,450 -11.98%

N/A -100.00% $208,750 N/A N/A N/A N/A -100.00% $165,000

$188,900 -9.51% N/A N/A $132,500 -19.70%

BROOKLYN 1 Family Condo All Sales

1 0 2 1 5

12 1 14

20.00% -50.00% -6.67%

13.89% 0.22% 9.45%

CANTERBURY 1 Family Condo All Sales

7 0 7

7 0 9

0.00% N/A 28.57%

49 0 63

52 0 80

0 0 2

2 0 2

N/A N/A 0.00%

23 1 30

25 0 33

2 0 3

N/A N/A N/A

12 0 25

18 1 30

50.00% N/A 20.00%

N/A N/A N/A

1 0 2

-66.67% N/A -50.00%

12 0 23

16 0 38

33.33% N/A 65.22%

$244,900 N/A $226,200

9 -47.06% 0 -100.00% 12 -45.45%

132 19 206

154 13 233

16.67% -31.58% 13.11%

$175,000 $115,000 $166,500

$155,000 -11.43% N/A -100.00% $157,500 -5.41%

1 0 0 1 3

5 2 12

-50.00% N/A -7.69%

120 3 177

107 4 154

-10.83% 33.33% -12.99%

$127,500 N/A $135,000

$134,000 5.10% $135,450 N/A N/A $74,700 $80,475 -40.39% $135,000

$135,000 -0.33% $63,925 -14.42% $135,000 0.00%

3 0 5

2 0 5

-33.33% N/A 0.00%

31 0 62

40 0 65

29.03% N/A 4.84%

$257,000 N/A $257,000

N/A -100.00% $285,000 N/A N/A N/A $133,000 -48.25% $198,250

$249,000 -12.63% N/A N/A $235,000 18.54%

8 0 9

16 2 23

100.00% N/A 155.56%

70 19 121

92 30 163

31.43% 57.89% 34.71%

$128,500 N/A $127,000

$155,750 21.21% $153,475 N/A N/A $165,500 $154,500 21.65% $149,900

$149,700 $177,500 $145,000

2 0 2

0.00% N/A 0.00%

20 0 29

23 0 25

15.00% N/A -13.79%

N/A N/A N/A

5 0 8

150.00% N/A 300.00%

47 3 67

51 3 70

8.51% 0.00% 4.48%

N/A N/A N/A

$289,000 N/A $244,500

2 0 3

14 1 17

600.00% N/A 466.67%

89 3 123

144 5 180

61.80% 66.67% 46.34%

N/A N/A $93,000

$192,450 N/A $197,000 N/A N/A $130,000 $155,000 66.67% $179,900

$192,750 $135,000 $185,000

-2.16% 3.85% 2.83%

1 3 0 1 4

9 1 13

-30.77% N/A -7.14%

119 5 181

146 5 195

22.69% 0.00% 7.73%

$115,000 N/A $105,000

$140,000 21.74% $118,000 N/A N/A $119,000 $140,000 33.33% $115,000

$135,000 $120,000 $130,000

14.41% 0.84% 13.04%

99 9 141

100 13 166

1.01% 44.44% 17.73%

$175,000 N/A $155,000

$204,500 16.86% $229,500 N/A N/A $140,000 $199,900 28.97% $210,000

$237,000 3.27% $120,000 -14.29% $215,000 2.38%

17.44% 966 0.00% 69 30.28% 1,440

1,117 80 1,641

15.63% 15.94% 13.96%

$154,950 $115,000 $152,500

$169,000 $149,000 $164,350

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

CHAPLIN 1 Family Condo All Sales

8.70% -100.00% 10.00%

EASTFORD 1 Family Condo All Sales

0 0 0

HAMPTON 1 Family Condo All Sales

3 0 4

KILLINGLY 1 Family Condo All Sales

1 7 3 2 2

$159,500 $112,500 $139,450

$152,000 $139,900 $149,000

-4.70% 24.36% 6.85%

PLAINFIELD 1 Family Condo All Sales

POMFRET 1 Family Condo All Sales

PUTNAM 1 Family Condo All Sales

-2.46% 7.25% -3.27%

SCOTLAND 1 Family Condo All Sales

2 0 2

N/A $155,500 N/A N/A N/A $155,000

$175,000 12.54% N/A N/A $175,000 12.90%

N/A $173,500 N/A $70,000 N/A $162,700

$188,500 8.65% $165,000 135.71% $173,500 6.64%

STERLING 1 Family Condo All Sales

2 0 2

THOMPSON 1 Family Condo All Sales

WINDHAM 1 Family Condo All Sales

WOODSTOCK 1 Family Condo All Sales

9 1 1 0

10 11.11% 0 -100.00% 13 30.00%

WINDHAM COUNTY 1 Family Condo All Sales

8 6 7 1 09

101 7 142

9.07% 29.57% 7.77%

$166,750 $135,000 $154,950

1.95% 3.70% 3.26%

JANUARY 2017 | THE COMMERCIAL RECORD | 33

FAIRFIELD COUNTY GOSSIP REPORT

WESTPORT

GREENWICH

ADDRESS: 25 Cobb Island Drive, Greenwich PRICE: $4,912,500 SIZE: 6,855 sq. ft. on 1.25 acres BUYER: CRJ Cobb LLC SELLER: Whatu LLC SOLD: 11/3/16

ADDRESS: 17 Stoney Point Road, Westport

ADDRESS: 57 Old Church Road, Greenwich

PRICE: $5,300,000

PRICE: 5,295,000

SIZE: 7,640 sq. ft. on 1.2 acres

SIZE: 5,884 sq. ft. on 2 acres

BUYER: Meg A. Serino

BUYER: KY DD LLC

SELLER: Ann E. Sheffer and William L Scheffler

SELLER: Abbie Jordan and Frank Jordan

SOLD: 12/1/16

SOLD: 11/15/16

GREENWICH

ADDRESS: 51 Keofferam Road, Greenwich PRICE: $4,900,000 SIZE: 5,807 sq. ft. on 0.54 acres BUYER: Samtosha Holdings, LLC SELLER: Deborah Clark and Philip Clark AGENT: Halstead Property SOLD: 12/7/16

2 3 4

FAIRFIELD

ADDRESS: 794 Sasco Hill Road, Fairfield PRICE: $4,900,000 SIZE: 4,294 sq. ft. on 1.6 acres BUYER: John C. Seifert and Shona L. Seifert SELLER: Jaquett W. Heck SOLD: 11/15/16

The 12-room house in this week’s No. 5 spot is a French Tudor built in 1937 and sold for over a half-million dollars more in 2002. The home has been completely renovated and restored and has views of Southport Village, Harbor and Long Island Sound. There’s a wood-paneled study on the first floor turning staircase to the second floor where there are four bedrooms with en-suite bathrooms.

34 | THE COMMERCIAL RECORD | JANUARY 2017

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