JANUARY 2017
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REAL ESTATE & FINANCIAL NEWS FOR CONNECTICUT
THE
FINANCE ISSUE Predicting Demand For 2017’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 Record’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
6
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
B
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
H
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
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
0
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
A
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
T
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.
THE MOST VIEWED ARTICLES IN DECEMBER • • • • •
Coaching The Customer At Chelsea Groton New Milford Man Pleads Guilty To Extortion UConn Student Portfolio Fetches $20.25M Defunct Woodbury Restaurant Purchased, To Be Rebranded Commercial Deals Of 2016 Recognized By Realtors Group
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
13
-7.14%
164
168
2.44%
$342,500
$316,000
-7.74%
$295,000
$297,500
0.85%
Condo
4
3
-25.00%
84
68
-19.05%
$159,250
$270,000
69.54%
$294,950
$278,000
-5.75%
2 7
21
-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
50
8.70%
448
515
14.96%
$157,250
$134,500
-14.47%
$153,000
$151,824
-0.77%
Condo
1 6
25
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
$125,000
0.00%
$132,550
$128,000
-3.43%
All Sales
BROOKFIELD 1 Family
1 3
19
46.15%
172
184
6.98%
$337,000
$399,000
18.40%
$357,000
$350,000
-1.96%
Condo
5
5
0.00%
63
74
17.46%
$203,500
$289,900
42.46%
$188,000
$220,000
17.02%
2 3
28
21.74%
295
314
6.44%
$305,000
$341,900
12.10%
$315,000
$309,500
-1.75%
1 Family
4 1
33
-19.51%
372
416
11.83%
$297,000
$267,500
-9.93%
$269,000
$270,000
0.37%
Condo
2 3
25
8.70%
319
362
13.48%
$145,500
$258,900
77.94%
$190,000
$190,000
0.00%
8 6
70
-18.60%
937
1,015
8.32%
$283,000
$270,500
-4.42%
$260,000
$260,000
0.00%
1 Family
1 7
22
29.41%
333
266
-20.12%
$1,350,000
$1,219,313
-9.68% $1,400,000
$1,300,000
-7.14%
Condo
1
1
0.00%
32
20
-37.50%
N/A $ 1,619,038
$1,457,250
-9.99%
2 1
26
23.81%
401
311
-22.44%
$1,350,000
$1,275,000
-5.56% $1,425,000
$1,315,000
-7.72%
1 Family
5
5
0.00%
97
92
-5.15%
$465,000
$559,900
$600,000
1.69%
Condo
0
0
0
0
7
6
-14.29%
109
104
All Sales
DANBURY
All Sales
DARIEN
All Sales
N/A
N/A
EASTON
All Sales
N/A
N/A
N/A
N/A
20.41% N/A
$590,000 N/A
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
42
-19.23%
692
657
-5.06%
$592,000
Condo
6
1
-83.33%
84
93
10.71%
$362,000
6 6
52
-21.21%
877
856
-2.39%
$517,500
$539,975
All Sales
4.34%
GREENWICH 1 Family
1 7
21
23.53%
403
329
-18.36%
$1,175,000
$1,175,000
Condo
1 6
11
-31.25%
140
113
-19.29%
$765,000
$685,000
3 9
38
-2.56%
644
518
-19.57%
$775,000
$975,000
1 Family
1 2
14
16.67%
176
179
1.70%
$304,500
$330,250
8.46%
$348,500
$355,000
1.87%
Condo
6
5
-16.67%
62
55
-11.29%
$206,000
$170,000
-17.48%
$202,000
$228,500
13.12%
2 1
21
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
14
-12.50%
288
198
-31.25%
$1,501,250
$1,357,500
Condo
3
7
133.33%
51
56
9.80%
$1,250,000
$790,000
2 1
21
0.00%
375
274
-26.93%
$1,250,000
$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
12
-14.29%
160
188
17.50%
$311,000
Condo
3
1
-66.67%
24
3
-87.50%
$315,030
2 2
15
-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
24
60.00%
332
346
4.22%
$297,500
Condo
3
1
-66.67%
33
39
18.18%
$336,383
1 9
27
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 • 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
54
25.58%
605
599
-0.99%
$405,000
$414,000
2.22%
$450,000
$430,000
-4.44%
Condo
2 5
20
-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
109
0.00%
$622,500
$555,000
-10.84%
$510,000
$523,000
2.55%
0
4
All Sales
8 4
90
1 Family
1 2
11
Condo
0
0
1 4
12
-14.29%
124
133
-20.83%
293 69
REDDING
All Sales
-8.33% N/A
N/A
N/A
N/A
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%
64
-7.25%
N/A $222,000
$237,500
6.98%
2.05%
$667,500
$591,000
1.05%
RIDGEFIELD 1 Family
2 4
19
Condo
0
5
2 8
26
-7.14%
390
398
1 Family
2 4
28
16.67%
309
329
6.47%
$311,000
Condo
1 0
14
40.00%
152
143
-5.92%
$309,500
54
20.00%
538
567
5.39%
233.33%
57
48
-15.79%
0
0
All Sales
N/A
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
3
10
Condo
0
0
3
11
266.67%
62
56
All Sales
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
-9.68%
$380,000
$290,000
-23.68%
$425,000
$375,150 -11.73%
STAMFORD 1 Family
4 0
54
35.00%
633
646
2.05%
$485,000
$586,250
20.88%
$555,000
$555,000
Condo
3 4
59
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
56
27.27%
475
560
17.89%
$247,500
$212,250
-14.24%
$225,000
$228,500
1.56%
Condo
2 0
11
-45.00%
148
141
-4.73%
$192,000
$159,547
-16.90%
$179,500
$167,000
-6.96%
83
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
36
56.52%
368
477
29.62%
Condo
2
3
50.00%
32
32
0.00%
2 8
43
53.57%
435
531
22.07%
$330,500
$351,000
6.20%
$350,000
$355,000
1.43%
1 Family
1 1
14
27.27%
152
158
3.95%
$607,500
$785,000
29.22%
$806,300
$780,000
-3.26%
Condo
0
0
0
0
1 3
14
7.69%
169
169
0.00%
$607,500
$785,000
-34.38%
347
319
-8.07%
$1,095,000
23
21
-8.70% -9.41%
All Sales
N/A
$345,000
WESTON
All Sales
N/A
N/A
N/A
N/A
N/A 29.22%
N/A
N/A
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
21
Condo
0
3
3 7
27
-27.03%
425
385
1 Family
1 2
18
50.00%
202
202
0.00%
Condo
1
1
0.00%
34
29
-14.71%
1 5
23
53.33%
261
251
-3.83%
$575,000
$855,000
All Sales
N/A
N/A
WILTON
All Sales
N/A
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%
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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 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 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
www.commercialrecord.com • 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
NORTH CANAAN 1 Family
1
3
Condo
0
0
2
4
All Sales
200.00%
20
32
0
1
100.00%
33
50
51.52%
183.33%
86
109
26.74%
8
13
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
6
17
Condo
0
2
8
22
175.00%
119
149
25.21%
$115,000
$158,950
38.22%
$151,000
$156,500
1 Family
5
7
40.00%
32
32
0.00%
$450,000
$450,000
0.00%
$541,500
$461,000 -14.87%
Condo
0
0
0
0
5
10
100.00%
46
46
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
N/A
N/A
0.00%
$450,000
45
50.00%
$175,000
4
300.00%
N/A $380,000
N/A
N/A
N/A
N/A
-15.56%
$435,000
$438,500
0.80%
$1,165,000 565.71%
$420,000
$420,000
0.00%
SALISBURY 1 Family
3
4
Condo
0
0
3
7
133.33%
44
65
47.73%
1 Family
2
4
100.00%
34
44
29.41%
N/A
Condo
0
0
1
1
0.00%
N/A
3
6
100.00%
51
60
17.65%
$250,000
$326,250
30.50%
$284,000
$315,000
10.92%
40.00%
47
50
6.38%
$188,000
$217,000
15.43%
$195,000
$212,500
8.97%
8
12
50.00%
All Sales
N/A
N/A $175,000
N/A
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
N/A
N/A
N/A
THOMASTON 1 Family
5
7
Condo
0
0
8
10
25.00%
73
76
4.11%
$159,950
$203,500
All Sales
N/A
N/A
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
34
100.00%
285
354
24.21%
$134,900
$136,500
1.19%
$125,000
Condo
7
12
71.43%
71
90
26.76%
$60,000
$68,450
14.08%
$77,500
4 0
59
47.50%
435
565
29.89%
$78,000
$92,000
17.95%
$112,000
17
19
11.76%
0
0
All Sales
$66,750 -13.87% $115,000
2.68%
WARREN 1 Family
2
0 -100.00%
Condo
0
0
2
1
-50.00%
23
33
-90.91%
54
51
-5.56%
7
1
-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
N/A $270,000
N/A
N/A
N/A
N/A
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
1
Condo
0
0
1 5
3
-80.00%
84
68
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
15
-11.76%
217
207
-4.61%
$184,000
$212,000
15.22%
$195,000
$190,000
-2.56%
Condo
4
5
25.00%
20
28
40.00%
$157,750
$150,000
-4.91%
$143,500
$163,250
13.76%
2 7
25
-7.41%
296
299
1.01%
$165,000
$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%
6
8
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
9
10
Condo
0
0
1 1
12
9.09%
130
152
All Sales
N/A
N/A
N/A
N/A
WOODBURY 1 Family
8
11
37.50%
80
90
12.50%
$312,500
$295,000
-5.60%
$288,750
$315,500
9.26%
Condo
3
3
0.00%
46
30
-34.78%
$107,500
$169,000
57.21%
$105,250
$131,000
24.47%
1 2
16
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
33
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
www.commercialrecord.com • subscribers only
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
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%
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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
8
0 -100.00%
94
63
-32.98%
Condo
1
0 -100.00%
4
4
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
3
-72.73%
128
90
1 Family
4
4
0.00%
65
56
-13.85%
Condo
1
1
0.00%
1
3
200.00%
6
7
16.67%
87
78
-10.34%
1 Family
1
2
100.00%
40
34
-15.00%
N/A
Condo
0
0
2
2
0.00%
N/A
1
4
300.00%
54
54
0.00%
N/A
1 Family
3
2
-33.33%
22
29
31.82%
Condo
0
0
0
0
3
2
-33.33%
29
35
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
N/A
$180,000
$209,100
16.17%
N/A
N/A $251,450
$269,000
6.98%
N/A
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
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
17
6.25%
178
152
-14.61%
$291,250
Condo
4
1
-75.00%
27
14
-48.15%
$222,500
2 6
28
7.69%
254
259
1.97%
$257,500
-50.00%
26
40
53.85%
0
0
-75.00%
30
48
All Sales
$300,000 $244,000
-5.24%
4.21%
VOLUNTOWN 1 Family
2
1
Condo
0
0
4
1
All Sales
N/A
N/A
N/A
N/A
N/A $180,000
N/A
N/A
N/A
N/A
N/A
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
26
30.00%
255
284
11.37%
$208,750
Condo
7
1
-85.71%
49
37
-24.49%
$155,000
2 9
36
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
34
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
$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
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 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 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
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
1
WESTPORT
2
GREENWICH
3
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
4
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
5
2 3 4
FAIRFIELD
1
5
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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INTERESTED IN LEARNING MORE? Call 617.896.5388 or email datasolutions@thewarrengroup.com JANUARY 2017 | THE COMMERCIAL RECORD | 35
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