The Commercial Record - Nov 2017 by The Warren Group

NOVEMBER 2017

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REAL ESTATE & FINANCIAL NEWS FOR CONNECTICUT

THE

GEOGRAPHY ISSUE

CTFastrack Spurs Private Development In Downtown New Britain

An Overlooked Population May Hold The Key To Loan And Asset Growth Four Corners: The Story Of Connecticut’s Real Estate Recovery

Special Feature: Fixture Of State’s Banking Scene Prepares To Depart

NOVEMBER 2017 | THE COMMERCIAL RECORD | 1

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JANUARY 12, 2018

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inside The Commercial Record’s Geography Issue The Nutmeg State may not be very big in square mileage, but it’s got plenty of unexplored territory covered in this month’s issue of The Commercial Record.

Looking In Unlikely Places The state’s un- and under-banked populations, particularly in Greater Hartford, present ample opportunity for loan and asset growth for banks prepared to serve a new kind of customer.

10 All Aboard The advent of CTFastrack opens a lot of doors to transit-oriented development along the two-yearold route – and developers are jumping onboard.

14 Real Estate Recovery While the state inches toward a real estate recovery, a look at the counties in each of its four corners reveals the wide range of that recovery.

16 In Person Spotlight After more than four decades with Webster Bank, President and CEO James Smith prepares to transition leadership of the bank to the first person outside his family since the bank’s founding in 1935.

10 8

news roundup

12 state statistics 16 in person 18 top commercial transactions 20 trendlines

34 gossip report

NOVEMBER 2017 | THE COMMERCIAL RECORD | 3

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VOLUME 135, NUMBER 11

The Commercial Record (ISSN 0010-3098) © 2017 The Warren Group Inc. All rights reserved. No part of this publication may be reproduced in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without written permission from the publisher. Periodicals postage paid at Boston, MA, and additional locations. Published 12 times a year January to December 2017. The Commercial Record™ and The Warren Group™ are trademarks of The Warren Group Inc. POSTMASTER: Please send address changes to The Commercial Record, 280 Summer St., Boston, MA 02210. Basic annual subscription rate is $349, monthly subscription rate is $35. Subscription, advertising, editorial and production inquiries should be directed to: The Commercial Record, 280 Summer St., Boston, MA 02210, 800-356-8805.

4 | THE COMMERCIAL RECORD | NOVEMBER 2017

from the editor

HELP NEEDED TO HANG A HAT

f home is where you hang your hat, do you really need a Realtor to help you find the right wall?

Probably not – but you do need one to help you negotiate the best price for that wall, and all the other walls around it and the roof over it. And then you need one to stand by you as you navigate the byzantine process of actually purchasing said walls and roof. The real estate market exists as a series of ebbs and flows, of highs and lows. As we all know right now Connecticut is struggling back to its previous height, hampered by job loss, population reduction and too much inventory. Other parts of the country are experiencing a cooldown after several years of growth. When the market is oversaturated with homes for sale and rife with residents considering a move out of state, brokers and agents must use every tool at their disposal to secure a buyer’s or seller’s contract. This particular low is also characterized by new and different threats to the industry. No longer must a Realtor merely worry that another agent will undercut her commission; she must also worry about that a portal site will do the same even as it moves into traditional purchase and sale services. Technology is a real threat to the industry; so are changing attitudes. Many of today’s first-time buyers are convinced they don’t need the services a Realtor offers. This is particularly true for city-dwellers; many of these would-be buyers have spent a decade or more finding their own apartments and negotiating their own leases. They may be correct. Between Zillow and Redfin a prospective buyer can see most of the inventory available in their price range and preferred geography. Millennials know what they want and they know how to do the research to get it. They (generally) understand that in to-

day’s market they aren’t going to get the perfect house at the perfect price. But what buyers don’t know is how scary and stressful a home purchase can be. Why would they? They’ve never done it before. So much can go wrong between falling in love and the closing date. When the inspection turns up mice in the attic and cracks in the basement, your Googlefu isn’t going to save you; you need a seasoned professional to walk you through your options and back you up on whichever one you choose. That’s what a good agent does; supports their buyer (or seller) as they navigate the twisting, winding road to achieving their dream. An agent is more than a business partner; an agent is a friend, a confidante and a purveyor of tough love, as needed. That’s why they call it a relationship business.

And for all the industry’s fretting about the future of the Realtor, evidence so far does not support a big uptick in FSBOs. The percentage has increased, but at nowhere near catastrophic levels, supporting the conclusion that even the more experienced homebuyer recognizes the importance of agent representation. Take heart, brokers, Realtors and agents – today’s buyers still need you to help them hang their hats – and they know it. And if they don’t know it yet, they’ll figure out it very quickly. n

Cassidy Murphy Editorial Director Email: cmurphy@thewarrengroup.com

NOVEMBER 2017 | THE COMMERCIAL RECORD | 5

Looking In Unlikely Places

UNDERSERVED POPULATIONS ARE POTENTIAL CUSTOMERS FOR BANKS More Financial Literacy And Change Of Perception Needed For Success now, and try to figure out how to help them economically so they can grow those accounts and grow those assets over time,” he told The Commercial Record. The percentage of unbanked and underbanked households in Hartford in 2015 was roughly 22 and 25 percent respectively, according to Prosperity Now Scorecard. About 40 miles away in New Haven, about 15 percent and 23 percent of households were unbanked or underbanked respectively in 2015. That compares to just 6 percent unbanked and 15 percent underbanked statewide in 2015, both below the national average, according to FDIC data.

Second Chance Accounts Denise and Emily, YWCA 2016 conference.

BY BRAM BERKOWITZ | COMMERCIAL RECORD STAFF

n the north end of Hartford, a section of Connecticut’s capital where more than half of all residents have a credit score below 620, five bank branches have closed in the last five years. But in 2015, Hartford Municipal Employees Federal Credit Union, which is now Cencap Federal Credit Union, opened a branch in that same area of the city, where a number of its members live and work. The branch has become the credit union’s second busiest branch out of the five it operates in the city, and has helped spur growth. While deposits are at a premium right now, there are still cities in Connecticut with plenty of people up for grabs. The

catch is that many of these people are unbanked, those with neither a checking nor savings account, or underbanked, those who use alternative financial services such as payday loans and pawn shops. Nevertheless, these populations could be an untapped resource for banks and credit unions, said Jim Horan, CEO of the Connecticut Association for Human Services. “It is an opportunity for the banks to get people in the door who are not banked

6 | THE COMMERCIAL RECORD | NOVEMBER 2017

Although many of those unbanked or underbanked may be considered a credit risk, some financial institutions in the state offer second chance accounts. These accounts are specifically for customers who are not able to open a regular checking account due to having an account closed in the past. The accounts often come with higher fees, limited services and may require customers to maintain a certain balance, but they can help customers with a bad history get back into good standing. Cencap FCU’s second chance account products require people to maintain $200 in the account and will release the money after one year, said CEO Marco Signorello. Although not an exact number, Signorello said he thinks about 80 percent of customers who start with a second chance account eventually turn into a regular checking account. He also said that the credit union provides additional counseling to those with second chance accounts to help them get

Photos courtesy of the Connecticut Association for Human Services

Yvette Haughton, a CT Money School volunteer, Joel Rivera, program director at the Connecticut Association for Human Services, talks to gives a workshop on homeownership to partici- an attendee at last year’s YWCA “Money Conference for Women”event. pants from the New Haven Empowerment Center.

back into good standing, and is partnering with organizations in the community to provide financial literacy courses. “One key thing we are trying to focus on is financial education, [for example] preparing our members’ budgets for when they have to unexpectedly fix their car or purchase clothes,” he said. Second chance accounts could also represent a competitive advantage for the smaller financial institutions. Many large banks in Connecticut, including Bank of America, Chase, Santander, TD Bank and Key Bank, do not offer second chance accounts, according to New Haven Financial Empowerment.

Changing Perceptions Signorello said there have not been any other new branches in the north end of Hartford since Cencap moved in because most banks do not see it, or areas like it, as high profit markets. But there’s also a lot of commercial lending opportunities; the north end of Hartford has been designated a “promise zone,” where the federal government partners with local leaders to boost economic development. The designation could lead to additional housing opportunities and

the elimination of blighted buildings. Cities such as Hartford and New Haven are also taking steps to provide more financial resources for residents, which will make them better customers for banks. Hartford Community Loan Fund, which played a role in getting Cencap to move to the north end, is in the process of setting up more financial education opportunities at The Village for Families and Children and Capital Community College, said CEO Rex Fowler. In New Haven, Mayor Toni Harp has taken a proactive approach. The city received a grant from the Cities for Financial Empowerment Fund to help it launch a financial empowerment program. With it Harp created a Financial Empowerment Commission, which last year created a large report with recommendations for more financial counseling, education and engagement, as well as services focused on budgeting, tax preparation and reaching the area’s youth. Horan, who served as a consultant for the commission, said the city allocated $100,000 to these efforts this year and continues to apply for more grants. “We are working for the super vitamin effect,” he said.

The city also created the New Haven Financial Empowerment website, which has several resources including a tool that allows people to compare the different services and products banks in the area offer. Martha Okafor, New Haven’s community services administrator tasked with financial empowerment efforts, said she would love to create an “authentic partnership” with a bank to boost financial literacy efforts. But while the cities try to train potential customers, the banks could also use financial literacy to change the perception that these populations have of them. The area’s unbanked and underbanked residents most likely consist of immigrants or people new to the community not used to having a solid financial system, or people who had bad experiences with banks, Fowler said. “Part of it is there is an aversion to banks,” he said. “The majority of residents had checking accounts, but because of hidden fees or overdraft charges or insufficient charges, a number of folks feel they have got burned.” n Email: bberkowitz@thewarrengroup.com

NOVEMBER 2017 | THE COMMERCIAL RECORD | 7

NEWS ROUNDUP PROPOSED TAX REFORM WOULD PRESERVE CU TAX EXEMPTION

PRIVATE SCHOOL FOR UNDERPRIVILEGED YOUTH LEASES SPACE IN BRIDGEPORT

By Bram Berkowitz Sweeping tax reform legislation recently unveiled by House Republicans preserved the credit union tax exemption, eliciting cheers from credit union advocacy groups and calls from banking associations advocating for a level playing field. Banking advocacy organizations expressed general approval of the legislation, but were not happy the credit union tax exemption was left intact. “We are disappointed the House has not taken this critical opportunity to address the tens of billions of dollars in outdated, unfair and unreasonable tax advantages enjoyed by credit unions and the Farm Credit System,” Rob Nichols, president and CEO of the American Bankers Association, said in a statement. “We will continue to make the case that businesses offering similar services should be treated equally under the tax code.” The Independent Community Bankers of America called for “tax parity among all financial services providers, including tax-subsidized credit unions and Farm Credit System entities,” but were positive about the legislation in general. Dubbed the Tax Cuts and Jobs Act, the legislation would sharply cut the corporate tax rate, lower tax rates for some individual earners, reduce the number of tax brackets from seven to four and impact a number of deductions within the current code.

Horizons at Greens Farm Academy (GFA) is moving into the third-floor offices at 1057 Broad St. in Bridgeport. The company will lease 2,254 square feet of office space. GFA is a self-funded program of a K-12 co-educational private school based in Westport, and helps underserved students from Bridgeport develop strong academic, social and emotional skills. Its mission is to address Bridgeport’s achievement gap and provide individualized curriculum to youth who would otherwise not have the opportunity. “The space is in a newly remodeled office building in a prime downtown location,” Jon Angel, president of Southport-based Angel Commercial LLC, said in a statement. Angel represented both the tenant and the landlord in this transaction.

REMODELING SPENDING EXPECTED TO CONTINUE TO INCREASE Nationwide spending on residential remodeling is expected to continue to increase through the third quarter of 2018, according to the Leading Indicator of Remodeling Activity (LIRA) released last month by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The report projects that annual gains in home renovation and repair spending will increase from 6.3 percent in the fourth quarter of 2017 to 7.7 percent by the third quarter of next year. “Recent strengthening of the U.S. economy, tight for-sale housing inventories, and healthy home equity gains are all working to boost home improvement activity,” Chris Herbert, managing director of the Joint Center for Housing Studies, said in a statement. “Over the coming year, owners are projected to spend in excess of $330 billion on home upgrades and replacements, as well as routine maintenance.” Damage from Hurricanes Harvey, Irma and Maria could push remodeling spending even higher, the report said.

THE MOST VIEWED ARTICLES IN OCTOBER • Salisbury Bank CFO To Resign • Activist Investor Lawrence Seidman Takes Stake In Simsbury Bank Parent Co. • East Lyme Shopping Center Fetches $15.5M • CT Property Taxes Second-Highest Nationwide • Owner Of Old Saybrook Pizza Restaurant Admits Filing False Tax Returns

8 | THE COMMERCIAL RECORD | NOVEMBER 2017

• • • • •

Study: Four Connecticut Cities Among Worst Real Estate Markets Redesigning Schools For Collaboration Bankruptcy Attorney Imprisoned For Embezzlement And Fraud Man Charged With Fraud, Identity Theft Targeting CT Residents Second Largest US Cable Provider Announces New HQ In CT

EVENTS CONNECTICUT JOINS LAWSUIT DEFENDING AFFORDABLE CARE ACT

BANKWORLD The Warren Group Jan. 12, 2018 1 Mohegan Sun Blvd., Uncasville, CT 06382 Who should attend: Banking and mortgage professionals More information: www.thewarrengroupevents.com/bankworld

TREASURER SENTENCED FOR EMBEZZLING MORE THAN $700K FROM UNION

Connecticut joined with 17 other states and the District of Columbia in filing a lawsuit against the Trump administration’s decision to abruptly stop making health care cost-sharing reduction (CSR) subsidy payments required by the federal Affordable Care Act (ACA) – a move that will put health coverage for more than 6 million Americans at risk while increasing costs, Gov. Dannel P. Malloy and Attorney General George Jepsen said in recent statements. The ACA’s mandatory cost-sharing reduction payments help working families access more affordable health care coverage by assisting individuals with annual incomes between $11,880 and $29,700 enroll in health plans with lower deductibles, copayments or coinsurance, reducing their out-of-pocket costs. While the Connecticut Insurance Department recently approved rates for 2018 that assumed no CSR payments would be made, and designed the rates in a way that will make some families eligible for tax credits that will offset the higher premiums, many will not be eligible for those tax credits.

MALLOY ANNOUNCES CONNECTICUT’S SUBMISSION FOR AMAZON Gov. Dannel P. Malloy and Connecticut Department of Economic and Community Development (DECD) Commissioner Catherine Smith recently unveiled the state’s proposal for Amazon’s second headquarters, which includes sites in the Hartford and Stamford regions. “Connecticut is filled with spirit and ingenuity, and is the perfect location for a global company like Amazon to position its next headquarters,” Malloy said in a statement. The department is not providing any details regarding financial assistance in order to preserve the ability to enter into direct negotiations with the company. The financial incentive package will include direct incentives for Amazon, as well as funding to support needed investments in communities benefiting from Amazon’s growth. “We are confident that Amazon will find everything it is looking for in Stamford,” Stamford Mayor David Martin said in a statement. “Like the other Fortune 500 companies, small businesses and the wonderful people that call Stamford home, we believe Amazon will discover that Stamford is the place to be. Stamford is primed and ready to go!”

A treasurer from East Hartford was recently sentenced to prison for embezzling more than $70,000 from his union. Andrew Thibodeau, 72, was a member of the International Association of Machinists and Aerospace Workers Local 1433. Thibodeau served as secretary and treasurer of the local office of the union in Kensington. For several years, he used his access to the union’s funds to defraud the union in various ways, according to the trial. He issued unauthorized paychecks to himself, sometimes forging the signature of another union official so the bank would cash the check. He also reimbursed himself for fraudulent expenses for maintenance, officer duties and supplies. At times, he charged expenses to the union’s credit card, paid the resulting bill with union funds and then wrote a check for the same amount to himself. Thibodeau embezzled $70,379.30 between 2010 and 2014 from the union. He was ordered to pay full restitution. Thibodeau pleaded guilty to one count of embezzlement and theft of labor union assets on April 5, 2017.

STAMFORD RE FIRMS EXPAND LISTINGS TO JAPANESE AUDIENCE Stamford-based William Pitt and Julia B. Fee Sotheby’s International Realty has announced an exclusive alliance with Japan news publication Nikkei through the end of 2017. The Sotheby’s International Realty brand is the first real estate brand to present property listings outside of Japan to readers of the Nikkei, giving Japanese consumers access to residential real estate offerings in nearly 70 countries and territories. Approximately 93.5 percent of all property searches originating in Japan are searching internationally. As a Sotheby’s International Realty affiliate, the firm and its clients also benefit from an association with the Sotheby’s Auction House, allowing the firm’s sales associates the opportunity for real estate referrals with auction house clientele as well as the option to refer real estate clientele for appraisal services for jewelry, art, antique furniture and collectibles.

NOVEMBER 2017 | THE COMMERCIAL RECORD | 9

All Aboard

MULTIFAMILY PROJECTS SPROUT NEAR CTFASTRAK Transit Station Brings Private Development To Downtown New Britain

The 160-unit Columbus Commons apartment complex, which broke ground in October at the former New Britain police station property, is the first privately-financed development built in the city’s downtown in decades.

BY STEVE ADAMS | COMMERCIAL RECORD STAFF

he 9.4-mile CTfastrak that runs between New Britain and Hartford promises to boost the region’s economic competitiveness by providing a car-free commuting option favored by Millennial workers and others weary of congestion and car payments. Two years since the dedicated busway line’s completion, it’s starting to pay dividends in communities along the route seeking to revitalize faded downtown and commercial districts with multifamily housing. In downtown New Britain, develop-

ers broke ground in October on the first phase of the $58 million Columbus Commons, a 160-unit apartment complex at the former police station property at 125 Columbus Boulevard. And in West Hartford, a 54-unit mixedincome development called 616 New Park

10 | THE COMMERCIAL RECORD | NOVEMBER 2017

is under construction at a former Pontiac dealership site, part of the town’s efforts to transform an industrial area into a walkable mixed-use environment including housing. Progress on the projects bodes well for additional development clusters popping up along the imminent Hartford line commuter rail extension between New Haven and Springfield, economic development officials say.

Transforming An Industrial Corridor The goal of redeveloping the long-vacant West Hartford dealership predated the completion of the town’s two CTfastrak

station sites in 2015. The town’s Housing Authority was evaluating sites for a mixedincome development and the blighted dealership property was a natural choice, said Kristen Gorski, West Hartford’s economic development specialist. But there was a hitch: the existing zoning only allowed industrial uses, not housing. The town council approved an ordinance amendment in 2012 permitting multifamily developments, provided they include first-floor commercial space. The housing authority’s nonprofit development spinoff, Trout Brook Realty Advisors, obtained $10 million in federal tax credits from the Connecticut Finance Housing Authority after setting aside 32 income-restricted units as affordable housing and another 11 units for veterans. Market-rate units are expected to rent for $1,300 to $1,550 a month, Gorski said. Hartford-based Amenta Emma Architects designed the 4-story wood-framed structure above a steel and concrete podium. In an urban design strategy, architects situated the building close to the street, maximizing its visibility and creating a distinct pedestrian corridor, said Myles Brown, a principal with Amenta Emma Architects. A rust-colored corrugated metal exterior reflects the neighborhood’s industrial influence. Parking spaces were reduced by 25 percent from traditional multifamily property requirements, reflecting the likelihood that some residents will rely on public transit. Completion is scheduled for spring 2018. While no other formal development proposals for housing have been filed, Gorski said investors have expressed preliminary interest in additional mixed-use projects. Improving pedestrian and bicycle routes in the neighborhood – a four-lane highway lined with strip malls and single-story office and industrial buildings – is the town’s next priority, Gorski said. The plan will build on a completes study submitted last spring by engineering consultants Fuss & O’Neill.

A Milestone In Private Investment When Erin Stewart was elected mayor of New Britain in 2013, she dusted off

downtown redevelopment plans that had stalled during the recession. The city designated a partnership of developers Dakota Partners of Waltham, Massachusetts and Xenolith Partners of Bedford, New York to redevelop the former police station site in July 2016. The city had laid the groundwork with an environmental cleanup and demolition after obtaining $3 million in state and federal grants.

such projects are exactly what Connecticut cities and towns should be encouraging to retain younger residents, bringing 24-7 vitality and expanding their range of housing options. “Developers are capitalizing on the connections to bring residents and hopefully Millennials to job opportunities in Hartford and Springfield and New Haven,” said Tim Sullivan, the state’s deputy com-

Columbus Commons’ performance is likely to be watched closely by other developers as a model of building market-rate housing in the downtown. “This is the largest development our downtown has seen in decades from a private developer, and it’s a very exciting time for us,” Stewart said. “We are seeing the impact of mass transit on the ability to redevelop our downtown area. It’s been a great opportunity to form partnerships with downtown developers and identify key parcels.” Columbus Commons, the winning development team’s submission, stood out because of its mixed-use approach, including 20,000 square feet of ground-floor retail space, Stewart said. Significantly, the developers were willing to contribute their own equity to the project, setting them apart from a half-dozen other firms that would have relied exclusively on public funding, she said. Ground was broken Oct. 17. Columbus Commons’ performance is likely to be watched closely by other developers as a test case of building marketrate housing in the downtown. To accelerate future downtown redevelopment, Stewart is seeking city council approval for a $2 million revolving fund to acquire blighted downtown properties. Other selling points for developers: an absence of building height limits and minimum parking requirements under current zoning. Economic development officials say

missioner of Economic and Community Development. The scheduled groundbreaking in 2018 of the 62-mile Hartford line commuter rail extension from New Haven to Springfield, Massachusetts will offer the next opportunity for significant transit-oriented development. The $500 million project scheduled to begin running in May 2018 will provide 17 round trip routes between New Haven and Hartford on weekdays and include a $20 million station in Meriden, where the city adopted a transit-oriented development zoning district in 2013. That has spurred projects like a 63unit apartment complex at 24 Colony St., which broke ground in 2015 and was completed this year. The first 75-unit phase of Meriden Commons, a 150-unit apartment building at 161 State St., is under construction. “If you look at the trajectory of construction in downtown Meriden, there wasn’t a lot of it teed up before the announcement of the Hartford line,” Sullivan said. “All along the line you’re going to see and already seeing green shoots with two projects by two different developers. It shows development around transit can work in Connecticut.” n Email: sadams@thewarrengroup.com

NOVEMBER 2017 | THE COMMERCIAL RECORD | 11

STATE STATISTICS Number of Single-Family Sales by Price Range

10-Year Single-Family Sales 30,000

25,000 22,000

26,250

19,000

22,500 $700K+

13,000 10,000

$500k-$699k

1992

1997 2002 $400k-$499k

2007

2012

2017

$300k-$399k

6,000

$0-$299k

4,800 3,600

NUMBER OF SALES

16,000

18,750

15,000

11,250

7,500

2,400

3,750 1,200

0 0

1992

1997

2002

2007

2012

2017

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

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

Lis Pendens and Foreclosures by Month 1,500

Lis Pendens Foreclosure Deeds 1,125

750

375

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

2015

2016

12 | THE COMMERCIAL RECORD || NOVEMBER NOVEMBER 2017 2017

2017

Top 5 Lenders by Market Share Refinance Mortgages

Multifamily Median Price $300,000

Quicken Loan Inc | 2017 Rank: 1 | 2016 Rank: 1

2-Family 5.61%

3-Family

$240,000

5.22%

Webster Bank | 2017 Rank: 2 | 2016 Rank: 3

PRICE

$180,000

$120,000

4.21% $60,000

4.39% 0

JPMorgan Chase Bank | 2017 Rank: 3 | 2016 Rank: 5

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

3.76%

20-Year Residential Median Prices 3.09%

$300,000 Single-Family

Wells Fargo Bank NA | 2017 Rank: 4 | 2016 Rank: 2

Condo

$240,000

3.25%

$180,000

American Eagle FCU | 2017 Rank: 5 | 2016 Rank: 6

PRICE

4.96%

$120,000

2.96% $60,000

3.09% 0

2017

2016

*MarketShare percent includes loans through September for both years

97 98 99 00 01 02 03 04 04 06 07 08 09 10 11 12 13 14 15 16 17 *Statistics include median prices January - September All Years Source: The Warren Group

NOVEMBER 2017 | THE COMMERCIAL RECORD | 13

Real Estate Recovery

CONNECTICUT’S REAL ESTATE RECOVERY REMAINS UNEVEN

The Higher The High, The Bigger The Fall – And Longer The Recovery

COUNTY

Median Sale Price 2008

Median Sale Price 2017

Fairfield

$550,000

$450,000

Litchfield

$248,500

$225,000

New London

$243,000

$220,000

Windham

$193,800

$175,000

All figures are year to date through September | Source: The Warren Group 14 | THE COMMERCIAL RECORD | NOVEMBER 2017

BY JIM MORRISON | COMMERCIAL RECORD STAFF

ocation counts for a lot in real estate and while the statewide market continues to improve incrementally, some counties are doing much better than others. The counties in the corners of the Nutmeg State show the range of diversity it contains.

Litchfield’s Living Large The median price of a single-family home in Litchfield County is $225,000 year to date through August, according to data from The Warren Group, publisher of The Commercial Record. That’s 94 percent of what it was at the peak in the market in 2008, tied with Hartford and New London counties for the best recovery in the state. The county is a popular destination for both wealthy New Yorkers looking for a vacation home and, increasingly, for international homebuyers who want to send their children to one of the area’s eight highpriced private schools, said Elyse Harney and her daughter, Elyse “E2” Harney Morris, co-owners of Elyse Harney Real Estate in Salisbury. “It’s not just a weekenders or families coming here for the private schools,” Morris said. “Salisbury had the second-lowest tax rate in the state last year and this year I think we’re the second-lowest. You look at other towns like Falls Village, which is a lovely, lovely community, but their mill rate is twice as high as Salisbury’s.” Communities like Sharon and Salisbury, where residents are just a 10 to 15 minute drive from the Wassaic train line that can whisk them Grand Central Station in two hours, are the most in-demand. Demand drops off quickly in Norfolk, which is just two towns away. “The $500,000 and below price point is 67 percent of our market share this year,” Morris said. “Historically the hardest price point is between $600,000 and $900,000.” “Those people have the taste for milliondollar homes, but not the budget,” Harney added. The $1 million to $2.5 million price range is gaining momentum again, Morris said, but above that, there just aren’t as many buyers as there used to be. Inventory is low, like it is everywhere, but

Harney thinks that’s driving land sales. “Two years ago, our company did two land sales,” Morris said. “Last year we did three and so far this year we’ve closed eight. You’re seeing for the first time since 2008 spec builders buying land and building on it. We sold one for $1.5 million and had it under agreement before I officially listed it.” Those high-dollar home keep tax rates low for the middle-class people who live and work in the area. Declining public school enrollment is a concern in some communities. Both women said maintaining balance is a growing concern.

A Tale Of Two Counties New London County’s median singlefamily price is $220,000 so far this year. That’s also 94 percent of what it was at the peak in the market in 2008. The price of a single-family home in neighboring Windham County is $175,000, which is 93 percent of what it was at the peak. The difference in home sales prices in the two counties is essentially because there are more better-paying jobs in New London County, according to Susy Hurlbert, CEO of the Eastern Connecticut Association of Realtors (ECAR). She said sales are up in both counties, but prices are flat. “We’ve still got a generation of buyers who aren’t ready to settle,” Hurlbert said. “People aren’t going to buy unless it’s a much better deal than renting. I think there’s been an issue with the state budget. Realtors say there’s still people who are going to open houses, but it’s tapered off a little. I think people are waiting to see how it’s going to go and see which towns are going to be most affected by cuts.” Because home prices were relatively low to begin with, they didn’t fall as far in the Great Recession, so the recovery has been steadier. In the 18 months she’s been CEO of ECAR, the area has fared a little better

than the state average in price and sales increases. Still, her members are concerned about people leaving the state due to its precarious finances. “The high-end suburbia is not what it used to be,” Hurlbert said. Rep. Joe Courtney (D-2nd District) “came and spoke to a room of about 75 Realtors; CT Realtor president Michael Barbaro asked people to raise their hand if they have a seller who is leaving the state, and an awful lot of hands went up. We want the legislators to figure out a way to improve the business climate and keep people in the state.”

The Gold Coast In Fairfield County, where the median price of a single-family home is double what it is in the rest of the state, the recovery has been much slower. Year to date through August the median sale price of a single-family home in Fairfield County is $450,000, just 86 percent of what it was in 2008. Buyers are slower and choosier than they used to be, said Mary Beth Grasso, a Keller Williams agent out of Trumbull and past president of the Greater Fairfield County Board of Realtors. “Anything that’s in great condition, in a decent location and if it’s been updated – as long as they’ve not totally upgraded out of the market – or anything in the lower end, which is $375,000 in Fairfield, $229,000 in Bridgeport and $325,000 in Stratford, you’ll get multiple offers. Those will go. This year, if you had a house in Trumbull on for $550,000, you couldn’t keep it on the market. On the higher end, you need to be patient and priced right and hopefully it’s updated.” Grasso said she finds buyers and sellers are both far less committed than they were back in the peak of the market. “Buyers have more choices. It certainly doesn’t feel like we’re 86 percent of where we were,” she said. “That time had a lot of optimism. Now they’re more guarded and you have sellers who still love their home and have done upgrades. And more buyers don’t want to stretch financially. You can’t be a wimp in this market; you have to want to move.” n Email: jmorrison@thewarrengroup.com

NOVEMBER 2017 | THE COMMERCIAL RECORD | 15

IN PERSON

A FIXTURE OF CONNECTICUT BANKING PREPARES TO DEPART branches in Boston. According to the FDIC, the bank has grown its assets from $500 million in 1992 to more than $26 billion as of June 30 of this year. But although quite different from when it first started, Smith has always tried to stay true to his father’s values that first led him to open the bank. The corporate headquarters today is only three blocks from the original 400-square-foot office where Harold began the company. “You can see my father in the values of the company,” Smith told The Commercial Record. “The mission evolves, the vision expands and the values endure.”

JAMES SMITH TITLE: CEO AND CHAIRMAN OF WEBSTER BANK AND WEBSTER FINANCIAL CORP. AGE: 68 EXPERIENCE: 42 YEARS BY BRAM BERKOWITZ | COMMERCIAL RECORD STAFF After three decades at the helm and more than four decades with the company, a banking legend is preparing to pass the torch of a family business that has become a centerpiece of Connecticut banking. James Smith, the CEO and chairman of Webster Bank and its holding company, Webster Financial Corp., announced he will retire at the end of the year and become non-executive chairman of the board of directors. Smith is the second CEO in the 82-year existence of Webster Bank, which was founded in 1935 by Smith’s father Harold Webster Smith. When John Ciulla, the current president, replaces Smith on Jan. 1, he will be Webster’s first leader outside the Smith family. Since becoming CEO in 1987, Smith has transformed the Waterbury-based community bank, which was named First Federal Savings and Loan Association of Waterbury until 1995 when it was renamed Webster Bank, into a regional player. His 42 years with the bank have included acquisitions of HSA Bank, which turned Webster into a national leader with health savings accounts, NewMil Bank and 17 Citibank

16 | THE COMMERCIAL RECORD | NOVEMBER 2017

Q: Describe growing up as the son of Harold Webster Smith and then going to work at and eventually lead the bank he founded? Was there a lot of pressure? A: You wouldn’t have known he was special or iconic by being around him. He was just a regular father. He didn’t talk about the bank at home. I didn’t feel a lot of pressure growing up until I got here and realized there was a lot to live up to, and I am still trying to. We both went to Dartmouth College. I was a stockbroker for four years while my father worked at the U.S. Treasury Department. It was special because I knew I had a rare opportunity and that my father would be a good mentor. He was firm and fair, modest, but very competitive. The values we treasure are personal responsibility and respectfulness. Those are the principles that guided my father from 1935 and it’s at the core of the relationship I had with my father. He once told me that “my relationship with you begins and ends with truth.” I always respected him and we had a close relationship. I wanted to learn from him. While it was special, seeing my father up close in a business environment made me realize how hard it would be to measure up. There were times I thought I could never be that smart. When you go to work in your parent’s business, you’re the son of the boss. So, you have to work even harder to establish yourself. Because of that, this was a perfect environment for me. When I first got here, I didn’t know much. But what started as a job became a career – and if you are really lucky, it becomes your life. My wife, Cathy feels the same way, which is why we are so invested in the communities we serve. Q: What was the most important lesson he taught you? A: It’s hard to say there was only one, but an important one was to “be the example.” Also, I would say “be strong and true.” It’s all about what’s at your core. Who are you? What do you believe in? And stay true to your core. Hold yourself to the highest standard. I’ve got to credit my mother, too; I can’t just talk about my dad. Mom was extraordinarily instrumental in my development. She taught me to work hard and help others that rely on you. One thing my father taught me was that if we were going to be a bigger company, I would have to manage the company differently than he did. My father’s message to me was that the only way to succeed in a big company was to find people that knew more about their specializations than you did, and then support them, make sure they believe in the values and help them work together.

Smith’s Five Tips For Success – AKA 'The Webster Way' 1. Take personal responsibility for meeting customers’ needs. 2. Respect the dignity of every individual. 3. Earn trust through ethical behavior. Q: Did you always want to get into banking? If you weren’t a banker, what profession would you be in? A: Partly because my father didn’t make a big deal when I was growing up, I wasn’t obsessed with the idea of being a banker. I didn’t know what I wanted to do leaving college. So, I tried financial services in New York. My father and I agreed at that time it was good for both of us that I go to New York. But eventually, when my father was 64, I was about to change firms in New York City, and I just knew this would be the last chance to work with him if I wanted to. I called him up and said, “What do you think?” He said he’d talk to the board about it, then came back to me and said: “We could find a place for you,” but he said “there would be no argument about what your salary is,” and no titles to speak of, really. I was fine with that, and I became the insatiable volunteer. I wanted to learn more and more about the business. I was made assistant secretary so I got to go to the board meetings. My mother had a great sense of humor. She said that if I weren’t a banker, I would have been a singer or a bartender. Or, if all else fails, she said, maybe I could have become a fundraiser, or, as my father said, maybe an actor. I was involved in theater back in the day. Actually, I might have gotten involved in politics. Q: How has Webster changed from when you first started there to now? A: The market cap was $540 million in 1986, just after we went public, and is $5 billion today. We used to want to be the best bank on the block. Then we wanted to be the best bank in the community, then the state and then southern New England, and today, our commercial business covers the Northeast and our HSA business is national in scope. The biggest difference is we are bigger. We are stronger, we are better, we provide more products and services to our customers and greater opportunity for the people that work here, we have ample capital to invest in our future and there is more complexity in our business. Our strategies and performance set us apart. We are one of the few mid-size banks that earn more than our cost of capital. Q: What is the biggest challenge you faced during your time as CEO? A: That’s easy. It was the Great Recession because everything changed on the dime in the third and fourth quarter of 2008. Everything we did was tested. We had to deploy all our resources to make sure we were there for our customers all the time. We had to decide whether we should raise capital. We learned what you could do different and better, so if the financial system ever ended up in that situation again, we will hopefully sail through. We built out our risk infrastructure, which today is one of the strongest groups in the company. We learned so much getting through it; there was so much angst and turmoil. I think our team really, really distinguished themselves, and we proved to be worthy of our heritage.

4. Give of ourselves in the communities we serve. 5. Work together to achieve outstanding results.

Q: What is one of your favorite memories from your time at Webster? A: One of my favorite memories was last December after our 81st anniversary. I went to Joe Baltrush’s house with his grandson, Peter Baltrush, who is still a Webster customer, to re-enact the photo taken of my father and Peter’s grandfather receiving the first-ever mortgage from the bank in 1935. I stood on the doorstep, in exactly the same place where my father stood 81 years before, with my father’s hat in hand, to give Peter a framed copy of the photo that ran in the newspaper the day it happened. I call that photo, “The Humble Banker – hat in hand, living up to his customer.” It was such a moving moment for me. This is an example of the rewards that can be achieved by the commitment to community. We only excel and succeed because of the confidence our customers have in us. Q: Can you tell The Commercial Record readers about the direction Webster is going in the future? A: I am really excited about the succession plan. John Ciulla is an extraordinary leader and has been a Webster banker for 14 years. It was very important that our successor comes from within. John, our former chief credit risk officer, will be a reliable steward of Webster’s values and meets the stringent criteria our board and I set for my successor. He’s a gifted strategic thinker and perennial high performer with compelling leadership qualities. The beauty of this is we are making this choice from a position of strength. We’ve had record financial performance, made great progress in our strategic initiatives; have created meaningful shareholder value and achieved good organizational alignment. There couldn’t have been a better time to make the switch. A lot of companies want to have a thorough succession plan, but a lot of times events get in the way or it’s not applied efficiently. Q: Although Webster is now a regional player, the bank was once a community bank. What do community banks in Connecticut need to keep in mind or focus on if they are to succeed in the future? A: We are a large community bank today and in every community we are in, we focus on that community, making sure we meet the expectations and services of all communities we serve. I probably learn more from the competitor community bankers in our markets than they do from me. I still have very strong relationships with most community banks in Connecticut and we work together in our communities’ interests. Community banks will always need to live up to their customers and they know this and don’t need to hear this from me. Relationship banking is our competitive advantage. Our ability to stay close to our customers and their issues is what sets us apart. We are not going to out-tech the big banks, but our relationship on the ground is what is more important. Remember your roots. Remember why you exist, why you are here and always remember that without your customers, you wouldn’t be where you are today. For me this is easy. All I have to do is look at the photo of the humble banker, the constant reminder of our purpose and our values. n

NOVEMBER 2017 | THE COMMERCIAL RECORD | 17

TOP COMMERCIAL TRANSACTIONS Visit www.commercialrecord.com for a complete list of commercial transactions updated weekly. TOP 3 STATEWIDE 350 Alumni Rd, Newington......... $12,189,834

1150 Whalley Ave, New Haven..... $9,950,000

87 Del Mar Dr, Brookfield............ $9,392,570

Use:......................................... Industrial Warehouse

Use:........................... Mixed Use-Prim Res & Comm

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

Buyer:............................... Prime Storage Newington

Buyer: .......................................... Pascap Export Inc

Buyer: ................................ Prime Storabe Brookfield

Seller:................................. Newington Storage LLC

Seller: ............................. Arista Whalley Avenue LLC

Seller:..................................... Brookfield Storage LP

Mtg: ....................... Rialto Mtg Fin LLC $48,000,000

Date: ......................................................... 09/15/17

Mtg: ....................... Rialto Mtg Fin LLC $48,000,000

Date: ......................................................... 09/19/17

Total Assessed Value (2017): ..................$1,086,680

Date:......................................................... 09/18/17

Total Assessed Value (2017):.................. $1,951,510

Lot Size: ...................................................... 70222sf

Total Assessed Value (2017): ..................$1,338,950 Lot Size: .................................................... 179903sf

Lot Size: .................................................... 270072sf

FAIRFIELD 25 Del Mar Dr, Brookfield............. $9,392,570* Use:............................................. Commercial Building Buyer:................................... Prime Storabe Brookfield Seller:........................................ Brookfield Storage LP Mtg: .......................... Rialto Mtg Fin LLC $48,000,000 Date:............................................................ 09/18/17 Total Assessed Value (2017):........................ $943,650 Lot Size: ....................................................... 178596sf

87 Del Mar Dr, Brookfield............. $9,392,570* Use:............................................. Commercial Building Buyer:................................... Prime Storabe Brookfield Seller: ........................................ Brookfield Storage LP Mtg:.......................... Rialto Mtg Fin LLC $48,000,000 Date:............................................................ 09/18/17 Total Assessed Value (2017): .....................$1,338,950 Lot Size: ....................................................... 179903sf

490 Pepper St, Monroe................... $3,200,000 Use:..................................................Industrial Building Buyer: ................................... CHG Land Holdings LLC Seller: ....................................Cms Land Holdings LLC Mtg: ..................................... Milford Bank $2,560,000 Date: ............................................................ 09/29/17 Total Assessed Value (2017): .....................$1,304,000 Lot Size: ....................................................... 304484sf Prior Sale:............................................ $9,200 (06/16)

85 Robert Porter Rd, Southington.. $2,128,000 Use:......................................... Manufacturing Building Buyer: .................................. Bootstrap Real Est 1 LLC Seller:....................................Mccleary Associates LLC Mtg: .......................................Byline Bank $1,070,250 Date: ............................................................ 09/27/17 Total Assessed Value (2017): ........................$886,530 Lot Size: ....................................................... 110642sf Prior Sale:........................................ $550,000 (08/96)

98 Caya Ave, West Hartford............ $2,040,000 Use:............................................... Apartment Building Buyer: .................................Red Top 98 Caya Ave LLC Seller: .........................................Caya Associates LLC Mtg: ..................... CBRE Capital Mkts Inc $1,660,000 Date: ............................................................ 09/18/17 Total Assessed Value (2017): .....................$1,263,290 Lot Size: ......................................................... 28750sf

180 Bantam Lake Rd, Litchfield....... $475,000 Use:.............................. Mixed Use-Prim Res & Comm Buyer: ..................................... CMSCT Properties LLC Seller: ..................................Northwest Properties LLC Mtg: ............................ Thomaston Svgs Bk $368,000 Date:............................................................ 09/18/17 Total Assessed Value (2017): ........................$245,860 Lot Size: ......................................................... 37462sf Prior Sale: ........................................$245,000 (09/02)

1029 Main St, Watertown................ $350,000 Use:............................................. Commercial Building Buyer: .......................................JRB Enterprises 2 LLC Seller:.................................................. 1029 Main LLC Mtg:.................... Dept Economic&Cmnty D $300,000 Date: ............................................................ 10/03/17 Total Assessed Value (2017): ........................$366,700 Lot Size: ....................................................... 121968sf

720 Newfield St, Middletown........... $700,000 Use:............................................. Commercial Building Buyer: ........................................ Catalyst Church Corp Seller:.......................................................... AJRJ LLC Mtg: .....................................Johnathan Hull $300,000 Date: ............................................................ 09/28/17 Total Assessed Value (2017): ........................$562,485 Lot Size: ....................................................... 110642sf Prior Sale: .....................................$2,700,000 (10/08)

560 Main St, Middletown................. $425,000 Use:............................................... Apartment Building Buyer: ................................. Prospect Avenue 498 LLC Seller: .................................. 30 Harrison Services LLC Date: ............................................................ 10/03/17 Total Assessed Value (2017):........................ $294,350 Lot Size: ........................................................... 2178sf Prior Sale:........................................ $530,000 (05/06)

HARTFORD 350 Alumni Rd, Newington............$12,189,834 Use:.............................................Industrial Warehouse Buyer:.................................. Prime Storage Newington Seller: .....................................Newington Storage LLC Mtg:.......................... Rialto Mtg Fin LLC $48,000,000 Date:............................................................ 09/19/17 Total Assessed Value (2017):..................... $1,951,510 Lot Size:....................................................... 270072sf

LITCHFIELD 156 Danbury Rd, New Milford......... $6,695,913 Use:............................................. Commercial Building Buyer:................................ Prime Storage New Milford Seller: .................................................. New Milford LP Date:............................................................ 09/18/17 Total Assessed Value (2017):..................... $1,788,360 Lot Size: ....................................................... 176854sf Prior Sale: ........................................$800,000 (06/94)

MIDDLESEX 196 E Main St, Clinton.................... $1,400,000 Use:............................................. Commercial Building Buyer: .......................................Clinton Food Mart LLC Seller: ............................................ Thapan Group LLC Mtg: ....................... Newtek Small Bus Fin $1,050,000 Date:............................................................ 09/18/17 Total Assessed Value (2017): ........................$455,400 Lot Size:......................................................... 20909sf

*Group sales.

18 | THE COMMERCIAL RECORD | NOVEMBER 2017

FEATURED PROPERTY 98 Caya Ave, West Hartford.......................................................... $2,040,000 Use:.......................................................................................... Apartment Building Buyer: ............................................................................ Red Top 98 Caya Ave LLC Seller: ....................................................................................Caya Associates LLC Mtg: .................................................................CBRE Capital Mkts Inc $1,660,000 Date: ........................................................................................................09/18/17 Total Assessed Value (2017): ................................................................ $1,263,290 Lot Size: .................................................................................................... 28750sf

NEW HAVEN 1150 Whalley Ave, New Haven........ $9,950,000 Use:.............................. Mixed Use-Prim Res & Comm Buyer: ............................................. Pascap Export Inc Seller: ................................ Arista Whalley Avenue LLC Date: ............................................................ 09/15/17 Total Assessed Value (2017):..................... $1,086,680 Lot Size: ......................................................... 70222sf

323 George St, New Haven........... $5,450,000* Use:...........................................................Auto Repair Buyer: ......................................323 George Street LLC Seller: ..............................................George&High LLC Date:............................................................ 09/19/17 Total Assessed Value (2017):........................ $418,950 Lot Size:........................................................... 9927sf

9 High St, New Haven................... $5,450,000* Use:........................................................... Parking Lot Buyer:...................................... 323 George Street LLC Seller: ..............................................George&High LLC Date: ............................................................ 09/19/17 Total Assessed Value (2017): ........................$345,590 Lot Size:........................................................... 9064sf

53 Bank St, New London................. $365,000 Use:............................................. Commercial Building Buyer:.......................................... Y&J Water View LLC Seller: ................................. Glenna L Hodges Tr, Tr for Bobby G Hodges IRT Date: ............................................................ 09/14/17 Total Assessed Value (2017): ........................$256,340 Lot Size:........................................................... 4845sf

34 W Broad St, Stonington.............. $360,000 Use:............................................. Commercial Building Buyer:.................................................. Philip O Becker Seller: ........................................... Helene Fox-Blackall Date: ............................................................ 10/04/17 Total Assessed Value (2017):........................ $307,200 Lot Size:........................................................... 9148sf Prior Sale:........................................ $306,500 (03/88)

1364 Main St, Coventry................... $574,000 Use:............................................. Commercial Building Buyer: ..................................... Mariana Properties LLC Seller: ....................................... Coventry Corners LLC Mtg: .........................................TD Bank NA $400,000 Date: ............................................................ 09/20/17 Total Assessed Value (2017):........................ $646,800 Lot Size: ......................................................... 40075sf Prior Sale:............................................ $2,900 (12/14)

Buckley Hwy, Stafford...................... $203,395 Use:............................................ Farm and Forest Use Buyer: ..................................... Northern CT Land T Inc Seller: ...................................Stafford Fish&Game Club Date: ............................................................ 09/18/17 Total Assessed Value (2017):...........................$34,200 Lot Size: ..................................................... 8690220sf

39-45 N Chestnut St, Plainfield....... $170,000 Use:................................... Apartment Bldg - 4-8 Units Buyer:............................................... Christine M Hicks Seller:.................................................... Heidi R Martin Mtg: ............................. First Alliance Lendin $166,920 Date: ............................................................ 09/11/17 Total Assessed Value (2017): ........................$108,300 Lot Size: ......................................................... 10454sf Prior Sale: ..........................................$33,000 (02/15)

2 Prospect St, Plainfield.................. $165,000 Use:............................................. Commercial Building Buyer: ........................................................ Qasim Butt Seller: ................................................. Amer Choudhry Date:............................................................ 09/29/17 Total Assessed Value (2017): ........................$229,970 Lot Size:......................................................... 10454sf Prior Sale:........................................ $160,000 (02/14)

NEW LONDON 50 Lebanon Rd, Bozrah................... $625,000 Use:........................................Commercial Warehouse Buyer: .................................. Coleman Drilling&Blasting Seller: ........................................................Steven Coit Date: ............................................................ 10/03/17 Total Assessed Value (2014): ........................$301,990 Lot Size:......................................................... 95832sf Prior Sale:........................................ $175,000 (09/04)

TOLLAND 404 Merrow Rd, Tolland................... $600,000 Use:............................................. Commercial Building Buyer:.................................................... HZ&UNQ LLC Seller: .......... Robert M Morrison Jr & Glenn E Johnson Mtg:................................................... Seller $500,000 Date:............................................................ 09/26/17 Total Assessed Value (2017):........................ $438,700 Lot Size:......................................................... 53143sf

WINDHAM 745 Wrights Crossing Rd, Pomfret.. $447,000 Use:......................................................... Open Space Buyer: ....................Justin H Mancini & Jillian A Mancini Seller: ........ George Saperstein & Barbara J Saperstein Mtg: ..........................Farm Credit East ACA $300,000 Date:............................................................ 09/28/17 Total Assessed Value (2017): ............................$1,110 Lot Size: ....................................................... 151153sf

NOVEMBER 2017 | THE COMMERCIAL RECORD | 19

TRENDLINES

FAIRFIELD COUNTY SALES REPORT

NUMBER OF SALES SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

BETHEL 1 Family

2 0

-40.00%

140

136

-2.86%

$311,750

$301,250

-3.37%

$299,250

$317,500

6.10%

Condo

66.67%

25.00%

$355,248

$324,511

-8.65%

$278,000

$295,000

6.12%

3 1

-9.68%

256

272

6.25%

$360,495

$301,520

-16.36%

$303,170

$315,000

3.90%

13.31%

All Sales

BRIDGEPORT 1 Family

5 4

3.70%

420

468

11.43%

$166,400

$180,000

8.17%

$154,450

$175,000

Condo

2 9

6.90%

190

225

18.42%

$65,000

$85,500

31.54%

$69,450

$76,000

9.43%

1 18

145

22.88% 1,016

1,160

14.17%

$124,950

$150,100

20.13%

$129,375

$145,250

12.27%

All Sales

BROOKFIELD 1 Family

2 0

-25.00%

151

137

-9.27%

$380,000

$335,500

-11.71%

$342,134

$360,000

5.22%

Condo

1 4

-35.71%

4.92%

$235,000

$205,000

-12.77%

$210,000

$197,500

-5.95%

4 4

-31.82%

261

250

-4.21%

$286,000

$327,500

14.51%

$300,000

$320,000

6.67%

1 Family

4 6

-2.17%

348

345

-0.86%

$277,000

$334,000

20.58%

$270,000

$299,000

10.74%

Condo

3 7

-18.92%

298

284

-4.70%

$185,000

$243,750

31.76%

$190,000

$195,000

2.63%

1 11

-18.02%

843

805

-4.51%

$270,000

$306,462

13.50%

$260,000

$279,500

7.50%

1 Family

2 4

-16.67%

222

245

10.36%

$1,240,000

$1,351,000

8.95% $1,327,000

$1,350,000

1.73%

Condo

100.00%

0.00%

2 5

-8.00%

259

294

13.51%

$1,280,000

$1,277,000

1 Family

60.00%

-1.18%

$640,000

$517,125

Condo

120.00%

1.04%

$640,000

$505,000

-21.09%

$598,500

$550,000

-8.10%

All Sales

DANBURY

All Sales

DARIEN

All Sales

N/A

N/A $ 1,445,000 -0.23% $1,320,000

$738,000 -48.93% $1,309,000

-0.83%

$599,750

-1.68%

EASTON

All Sales

N/A

-19.20% N/A

$610,000 N/A

N/A

FAIRFIELD 1 Family

5 7

19.30%

563

620

10.12%

$650,000

$567,000

-12.77%

$590,000

$583,500

-1.10%

Condo

1 3

7.69%

19.28%

$326,000

$397,500

21.93%

$330,000

$360,000

9.09%

6.90%

739

837

13.26%

$549,000

$552,500

0.64%

$549,000

$557,000

1.46%

32.72% $1,475,000

All Sales

8 7

GREENWICH 1 Family

3 8

-63.16%

281

263

-6.41%

$1,482,500

$1,967,500

Condo

50.00%

0.00%

$637,000

$711,365

5 0

-22.00%

432

449

3.94%

$1,315,750

$1,075,000

1 Family

1 4

71.43%

149

157

5.37%

$372,500

$407,500

9.40%

$361,000

$372,000

3.05%

Condo

-50.00%

-10.64%

$233,250

$180,000

-22.83%

$230,000

$209,000

-9.13%

2 2

45.45%

225

237

5.33%

$314,950

$405,000

28.59%

$337,500

$331,000

-1.93%

0.89% $1,500,000

$1,428,750

-4.75%

All Sales

$1,450,000

-1.69%

$668,300

$650,000

-2.74%

-18.30% $1,122,500

$1,160,000

3.34%

11.67%

MONROE

All Sales

NEW CANAAN 1 Family

1 6

6.25%

170

172

1.18%

$1,685,000

$1,700,000

Condo

-50.00%

-18.75%

$861,250

$520,000

2 7

-11.11%

235

234

-0.43%

$1,400,000

$1,520,000

-25.00%

158

171

8.23%

$332,000

$304,000

0.00%

-12.00%

179

192

7.26%

$329,000

$312,500

All Sales

-39.62%

$587,500

$620,000

5.53%

8.57% $1,320,000

$1,255,000

-4.92%

$335,000

3.47%

NEW FAIRFIELD 1 Family

2 4

Condo

2 5

All Sales

N/A

-8.43% N/A

$323,750 N/A

N/A

-5.02%

$313,000

$329,500

5.27%

0.84%

NEWTOWN 1 Family

3 9

-7.69%

292

312

6.85%

$348,000

$378,750

8.84%

$373,750

$376,900

Condo

33.33%

-11.11%

$255,000

$292,498

14.71%

$329,380

$341,495

3.68%

4 7

0.00%

372

400

7.53%

$353,019

$375,000

6.23%

$370,000

$367,500

-0.68%

All Sales

20 | THE COMMERCIAL RECORD | NOVEMBER 2017

Real estate & credit transactions updated every Thursday

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

NUMBER OF SALES SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

NORWALK 1 Family

5 4

14.81%

492

514

4.47%

$433,500

$457,500

5.54%

$428,750

$450,850

5.15%

Condo

3 5

-31.43%

259

291

12.36%

$230,000

$251,750

9.46%

$270,000

$260,000

-3.70%

1 05

100

-4.76%

896

942

5.13%

$330,000

$412,500

25.00%

$380,000

$383,500

0.92%

$523,000

$296,000

-43.40%

$520,000

$495,000

-4.81%

N/A $264,500

$431,500

63.14% -5.10%

All Sales

REDDING 1 Family

-33.33%

101

16.09%

Condo

0 -100.00%

0.00% 9.26%

$410,000

$340,000

-17.07%

$510,000

$484,000

All Sales

1 3

-46.15%

108

118

N/A

RIDGEFIELD 1 Family

3 1

-35.48%

252

276

9.52%

$710,000

$600,000

-15.49%

$643,150

$640,000

-0.49%

Condo

-16.67%

18.00%

$247,500

$160,000

-35.35%

$222,500

$330,000

48.31%

4 1

-34.15%

325

360

10.77%

$645,000

$545,000

-15.50%

$615,000

$585,000

-4.88%

1 Family

2 9

10.34%

263

276

4.94%

$345,000

$311,000

-9.86%

$318,000

$310,000

-2.52%

Condo

1 3

7.69%

113

-15.04%

$281,250

$288,250

2.49%

$250,000

$267,450

6.98%

12.00%

446

447

0.22%

$320,995

$299,250

-6.77%

$300,000

$306,500

2.17%

100.00%

23.53%

N/A $471,250

$433,500

-8.01%

All Sales

SHELTON

All Sales

5 0

SHERMAN 1 Family

Condo

150.00%

23.08%

All Sales

N/A

N/A N/A N/A

$568,500 N/A $487,000

N/A

N/A $435,000

N/A $429,500

N/A -1.26%

STAMFORD 1 Family

6 3

-3.17%

538

518

-3.72%

$545,000

$500,000

-8.26%

$559,500

$565,000

0.98%

Condo

4 8

2.08%

481

459

-4.57%

$311,500

$301,525

-3.20%

$312,500

$310,000

-0.80%

1 32

133

0.76% 1,250

1,174

-6.08%

$442,500

$427,500

-3.39%

$435,000

$445,000

2.30%

All Sales

STRATFORD 1 Family

5 0

0.00%

446

505

13.23%

$259,000

$227,500

-12.16%

$229,250

$240,000

4.69%

Condo

1 2

-41.67%

118

122

3.39%

$217,500

$279,000

28.28%

$168,500

$175,000

3.86%

-12.50%

677

744

9.90%

$241,000

$235,000

-2.49%

$212,500

$220,091

3.57%

$390,000

$387,500

-0.64%

$360,000

$386,950

7.49%

N/A $310,000

$301,250

-2.82%

All Sales

7 2

TRUMBULL 1 Family

4 1

-53.66%

398

328

-17.59%

Condo

0.00%

11.11%

4 4

-47.73%

442

388

-12.22%

$388,000

$387,500

-0.13%

$355,000

$378,500

6.62%

1 Family

2 1

-47.62%

130

119

-8.46%

$689,000

$895,000

29.90%

$754,250

$800,000

6.07%

Condo

2 2

-50.00%

137

133

-2.92%

$694,000

$895,000

$1,225,000

All Sales

N/A

WESTON

All Sales

N/A

N/A 28.96%

N/A

$753,500

$795,500

5.57%

$910,000

-25.71% $1,233,250

$1,241,250

0.65%

$750,000

N/A $682,500

WESTPORT 1 Family

2 9

-6.90%

282

316

12.06%

Condo

50.00%

75.00%

3 7

-8.11%

338

396

17.16%

$1,142,500

$875,000

-23.41% $1,175,000

1 Family

1 6

-6.25%

170

168

-1.18%

$860,000

$685,000

-20.35%

Condo

50.00%

-11.11%

1 8

22.22%

212

215

1.42%

$815,000

$692,500

-15.03%

All Sales

N/A

$489,500 -28.28% $1,121,750

-4.53%

WILTON

All Sales

N/A

$749,000

$777,000

$737,500

-5.08%

N/A $336,500

$372,500

10.70%

$719,500

$702,500

-2.36%

3.45%

FAIRFIELD COUNTY 1 Family

7 02

640

-8.83% 6,071

6,273

3.33%

$435,000

$424,000

-2.53%

$435,000

$450,000

Condo

2 45

225

-8.16% 2,030

2,085

2.71%

$255,000

$270,000

5.88%

$255,000

$260,000

1.96%

1 ,128 1,066

-5.50% 9,783

10,192

4.18%

$367,750

$370,000

0.61%

$365,000

$372,500

2.05%

All Sales

NOVEMBER 2017 | THE COMMERCIAL RECORD | 21

TRENDLINES

HARTFORD COUNTY SALES REPORT

NUMBER OF SALES SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

$415,000 $208,250 $360,000

$405,500 $172,500 $247,500

$420,000 $205,000 $335,000

$430,500 $207,500 $327,000

2.50% 1.22% -2.39%

$258,000 N/A $234,000

$328,700 27.40% $247,500 N/A N/A $240,000 $311,000 32.91% $242,500

$245,000 $229,900 $240,000

-1.01% -4.21% -1.03%

AVON 1 Family Condo All Sales

2 3 6 3 0

20 12 32

-13.04% 100.00% 6.67%

192 85 295

200 92 317

4.17% 8.24% 7.46%

-2.29% -17.17% -31.25%

1 1 2 1 4

18 2 24

63.64% 0.00% 71.43%

132 34 187

147 25 206

11.36% -26.47% 10.16%

1 9 3 2 2

23 8 31

21.05% 166.67% 40.91%

191 45 260

176 55 255

-7.85% 22.22% -1.92%

$198,500 $245,000 $201,250

$199,900 $208,950 $199,900

0.71% -14.71% -0.67%

$180,000 $235,000 $195,000

$199,450 10.81% $203,000 -13.62% $200,000 2.56%

5 7 1 0 7 9

52 6 75

-8.77% -40.00% -5.06%

422 94 641

462 94 701

9.48% 0.00% 9.36%

$170,000 $122,750 $169,900

$172,000 $99,000 $158,000

1.18% -19.35% -7.00%

$174,700 $101,000 $162,000

$170,000 $105,000 $157,000

81 2 100

101 0 122

24.69% -100.00% 22.00%

$335,000 N/A $361,250

$292,450 -12.70% $264,000 N/A N/A N/A $292,450 -19.04% $290,000

BERLIN 1 Family Condo All Sales

BLOOMFIELD 1 Family Condo All Sales

BRISTOL 1 Family Condo All Sales

-2.69% 3.96% -3.09%

BURLINGTON 1 Family Condo All Sales

7 0 1 0

10 0 12

42.86% N/A 20.00%

6 6 1 3

11 2 16

83.33% -66.67% 23.08%

83 30 125

101 38 162

21.69% 26.67% 29.60%

2 2 6

-50.00% 100.00% 20.00%

60 7 74

57 19 86

-5.00% 171.43% 16.22%

45 39 93

-4.26% 680.00% 25.68%

364 32 507

418 100 626

14.84% 212.50% 23.47%

6 2 1 4

13 4 22

116.67% 100.00% 57.14%

67 25 130

81 43 169

20.90% 72.00% 30.00%

2 6 5 3 8

43 10 56

65.38% 100.00% 47.37%

361 92 510

417 77 551

19 20 47

26.67% 53.85% 42.42%

179 135 348

5 1 1 5 7 1

43 8 57

-15.69% -46.67% -19.72%

1 4 1 1 5

11 3 14 21 6 66

$316,000 19.70% N/A N/A $322,450 11.19%

CANTON 1 Family Condo All Sales

$290,750 $265,000 -8.86% $105,000 -100.00% $250,000 $261,000 4.40%

$312,000 $149,950 $269,900

$305,000 $144,500 $279,250

-2.24% -3.63% 3.46%

$178,750 N/A $175,000

N/A -100.00% $256,750 N/A N/A $132,000 $180,450 3.11% $253,288

$280,000 $134,900 $262,500

9.06% 2.20% 3.64%

$145,000 $77,000 $139,500

$159,900 $45,000 $83,300

10.28% -41.56% -40.29%

$145,000 -2.68% $55,500 -42.49% $131,000 -9.66%

$195,500 N/A $136,250

$155,000 $170,000 $172,500

-20.72% $210,000 N/A $148,000 26.61% $167,000

15.51% -16.30% 8.04%

$183,000 $161,000 $165,500

$177,000 $169,500 $176,750

-3.28% 5.28% 6.80%

186 137 381

3.91% 1.48% 9.48%

$320,000 $170,000 $235,000

$350,000 $192,250 $237,600

362 105 515

330 91 479

-8.84% -13.33% -6.99%

$385,000 $188,750 $330,000

$360,000 $223,000 $340,000

-21.43% 200.00% -6.67%

112 11 148

122 18 167

8.93% 63.64% 12.84%

$292,000 N/A $284,000

$285,000 $152,000 $249,500

-2.40% $269,750 N/A $190,000 -12.15% $260,000

$280,900 4.13% $167,000 -12.11% $257,000 -1.15%

-32.26% 0.00% -22.35%

213 86 633

225 93 667

5.63% 8.14% 5.37%

$140,000 $67,750 $141,374

$129,900 $25,000 $149,250

-7.21% -63.10% 5.57%

$130,000 $59,500 $136,000

9 0 10

11 0 19

22.22% N/A 90.00%

EAST GRANBY 1 Family Condo All Sales

4 1 5

EAST HARTFORD 1 Family Condo All Sales

4 7 5 7 4

$149,000 $96,500 $145,000

EAST WINDSOR 1 Family Condo All Sales

$192,000 $138,000 $151,900

-8.57% -6.76% -9.04%

$169,300 $134,950 $165,000

$179,000 $138,500 $175,000

5.73% 2.63% 6.06%

9.38% 13.09% 1.11%

$345,000 $190,000 $270,000

$373,750 $188,500 $266,900

8.33% -0.79% -1.15%

-6.49% 18.15% 3.03%

$344,500 $186,000 $315,000

$336,500 $171,000 $295,000

-2.32% -8.06% -6.35%

ENFIELD 1 Family Condo All Sales

FARMINGTON 1 Family Condo All Sales

1 5 1 3 3 3

GLASTONBURY 1 Family Condo All Sales

GRANBY 1 Family Condo All Sales

HARTFORD 1 Family Condo All Sales

3 1 6 8 5

$123,000 $46,750 $125,000

5.69% 27.27% 8.80%

HARTLAND 1 Family Condo All Sales

0 0 0

1 0 4

N/A N/A N/A

22 | THE COMMERCIAL RECORD | NOVEMBER 2017

N/A N/A N/A

N/A N/A $233,700

N/A $265,000 N/A N/A N/A $260,000

$288,000 8.68% N/A N/A $265,000 1.92%

Real estate & credit transactions updated every Thursday

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

NUMBER OF SALES SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

MANCHESTER 1 Family Condo All Sales

4 3 3 5 7

66 10 87

53.49% 233.33% 52.63%

409 74 607

507 96 714

23.96% 29.73% 17.63%

$170,000 $43,101 $165,500

$185,750 9.26% $140,500 225.98% $183,500 10.88%

12 2 16

$166,000 $93,550 $163,000

$174,000 $110,000 $169,700

4.82% 17.58% 4.11%

71.43% N/A 100.00%

65 2 73

84 3 95

29.23% 50.00% 30.14%

$234,900 N/A $279,950

$160,000 -31.89% $276,000 N/A N/A N/A $193,500 -30.88% $272,500

$250,000 -9.42% $215,000 N/A $240,000 -11.93%

55 1 82

83.33% -90.00% 7.89%

293 45 568

337 48 615

15.02% 6.67% 8.27%

$134,100 $100,600 $133,000

$139,000 3.65% N/A -100.00% $131,450 -1.17%

$134,900 $70,000 $132,000

$135,000 $97,000 $135,000

0.07% 38.57% 2.27%

33 11 49

43.48% -31.25% 16.67%

212 124 375

243 105 387

14.62% -15.32% 3.20%

$215,000 $147,950 $194,000

$220,000 $162,500 $220,000

2.33% 9.83% 13.40%

$214,000 $136,500 $191,000

$220,000 $150,000 $212,000

2.80% 9.89% 10.99%

18 8 28

80.00% 60.00% 86.67%

103 40 179

144 52 240

39.81% 30.00% 34.08%

$166,500 $110,000 $146,000

$181,250 $96,000 $161,350

8.86% -12.73% 10.51%

$185,000 $118,744 $175,000

$181,500 $146,100 $176,275

-1.89% 23.04% 0.73%

15 11 28

-6.25% -8.33% -9.68%

105 117 248

88 105 211

-16.19% -10.26% -14.92%

$315,000 $176,500 $300,000

$305,000 $149,900 $259,925

-3.17% -15.07% -13.36%

$292,000 $168,500 $218,250

$283,325 $152,000 $213,500

-2.97% -9.79% -2.18%

34 8 45

-17.07% 300.00% 4.65%

294 60 368

276 89 388

-6.12% 48.33% 5.43%

$316,000 N/A $299,900

$315,500 $126,500 $304,840

-0.16% $317,000 N/A $165,750 1.65% $300,000

$320,000 0.95% $149,000 -10.11% $297,450 -0.85%

18 13 34

-10.00% 62.50% 17.24%

192 88 308

203 101 345

5.73% 14.77% 12.01%

$285,250 $125,125 $210,000

$272,500 $210,000 $261,000

-4.47% 67.83% 24.29%

$262,750 $156,950 $237,750

$275,900 $155,000 $245,000

5.00% -1.24% 3.05%

4 1 5 5 9

51 12 76

24.39% 140.00% 28.81%

316 76 475

332 91 512

5.06% 19.74% 7.79%

$270,500 $194,500 $253,500

$298,500 $135,250 $280,000

10.35% -30.46% 10.45%

$265,000 $146,750 $235,000

$285,500 $151,000 $250,000

7.74% 2.90% 6.38%

1 3 4 2 0

11 2 17

-15.38% -50.00% -15.00%

105 38 181

106 30 184

0.95% -21.05% 1.66%

$245,000 $222,500 $238,750

$241,500 -1.43% N/A -100.00% $280,000 17.28%

$295,000 $174,500 $245,000

$270,500 $185,450 $259,825

-8.31% 6.28% 6.05%

57 14 82

23.91% 55.56% 30.16%

611 109 805

647 107 842

5.89% -1.83% 4.60%

$285,000 $225,000 $250,000

$293,000 $202,500 $282,500

2.81% -10.00% 13.00%

$300,000 $210,000 $287,500

$319,000 6.33% $187,000 -10.95% $300,000 4.35%

3 0 6 3 7

40 4 47

33.33% -33.33% 27.03%

298 36 357

302 49 376

1.34% 36.11% 5.32%

$256,250 $92,000 $250,000

$212,875 $164,500 $211,313

-16.93% 78.80% -15.47%

$230,000 $125,250 $222,000

$237,700 $129,900 $225,000

3.35% 3.71% 1.35%

3 1 2 3 7

35 6 45

12.90% 200.00% 21.62%

260 54 361

249 61 347

-4.23% 12.96% -3.88%

$224,900 N/A $224,900

$225,000 $65,000 $220,000

0.04% $185,000 N/A $162,750 -2.18% $182,500

$198,100 $184,000 $202,000

7.08% 13.06% 10.68%

18 10 31

50.00% 233.33% 72.22%

106 23 163

100 39 171

-5.66% 69.57% 4.91%

$173,250 $100,500 $162,000

$155,000 $149,500 $154,000

-10.53% 48.76% -4.94%

$165,000 $129,000 $167,500

$169,950 $139,500 $169,000

3.00% 8.14% 0.90%

16.91% 6,197 46.25% 1,669 17.73% 9,551

6,652 1,858 10,335

7.34% 11.32% 8.21%

$227,500 $143,950 $203,250

$219,900 $140,000 $201,500

-3.34% -2.74% -0.86%

$220,000 $150,000 $199,900

$220,000 $146,000 $200,000

0.00% -2.67% 0.05%

MARLBOROUGH 1 Family Condo All Sales

7 0 8

NEW BRITAIN 1 Family Condo All Sales

3 0 1 0 7 6

NEWINGTON 1 Family Condo All Sales

2 3 1 6 4 2

PLAINVILLE 1 Family Condo All Sales

1 0 5 1 5

ROCKY HILL 1 Family Condo All Sales

1 6 1 2 3 1

SIMSBURY 1 Family Condo All Sales

4 1 2 4 3

SOUTH WINDSOR 1 Family Condo All Sales

2 0 8 2 9

SOUTHINGTON 1 Family Condo All Sales

SUFFIELD 1 Family Condo All Sales

WEST HARTFORD 1 Family Condo All Sales

4 6 9 6 3

WETHERSFIELD 1 Family Condo All Sales

WINDSOR 1 Family Condo All Sales

WINDSOR LOCKS 1 Family Condo All Sales

1 2 3 1 8

HARTFORD COUNTY 1 Family Condo All Sales

6 80 795 1 60 234 1 ,038 1,222

NOVEMBER 2017 | THE COMMERCIAL RECORD | 23

TRENDLINES

LITCHFIELD COUNTY SALES REPORT

NUMBER OF SALES SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

BARKHAMSTED 1 Family Condo All Sales

1 0 5

1 0 2

0.00% N/A -60.00%

24 0 34

0.00% N/A 0.00%

N/A N/A $239,000

N/A N/A $257,750 N/A N/A N/A N/A -100.00% $257,750

$260,000 0.87% N/A N/A $260,000 0.87%

1 0 2

0.00% N/A 100.00%

24 0 32

19 0 27

-20.83% N/A -15.63%

N/A N/A N/A

N/A $247,850 N/A N/A N/A $236,750

$245,000 -1.15% N/A N/A $185,000 -21.86%

4 0 6

4 1 8

0.00% N/A 33.33%

16 0 26

21 2 27

31.25% N/A 3.85%

$320,000 N/A $320,000

$473,700 48.03% $320,000 N/A N/A N/A $473,700 48.03% $320,000

$475,000 48.44% N/A N/A $475,000 48.44%

1 0 2

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

11 0 15

15 0 16

36.36% N/A 6.67%

N/A N/A N/A

N/A $230,000 N/A N/A N/A $220,000

$300,000 30.43% N/A N/A $301,250 36.93%

2 0 3

100.00% N/A 200.00%

17 0 19

14 0 17

-17.65% N/A -10.53%

N/A N/A N/A

N/A N/A $150,000

N/A $199,500 N/A N/A N/A $206,000

$207,500 4.01% N/A N/A $210,000 1.94%

1 0 2

0.00% N/A 0.00%

13 0 19

17 0 24

30.77% N/A 26.32%

N/A N/A N/A

N/A $300,000 N/A N/A N/A $390,000

$220,000 -26.67% N/A N/A $194,500 -50.13%

9 0 1 3

2 0 4

-77.78% N/A -69.23%

45 1 57

43 0 59

-4.44% -100.00% 3.51%

$255,000 N/A $255,000

N/A -100.00% $305,000 N/A N/A N/A $256,206 0.47% $300,000

$325,000 6.56% N/A N/A $285,000 -5.00%

6 0 6

1 0 3

-83.33% N/A -50.00%

60 1 80

51 1 68

-15.00% 0.00% -15.00%

$343,500 N/A $343,500

N/A -100.00% $255,500 N/A N/A N/A $128,000 -62.74% $250,000

$260,000 1.76% N/A N/A $249,000 -0.40%

4 0 7

3 0 5

-25.00% N/A -28.57%

24 7 46

8 1 19

-66.67% -85.71% -58.70%

$276,625 N/A $366,600

$269,000 -2.76% $339,750 N/A N/A $169,900 $269,000 -26.62% $283,000

$384,500 13.17% N/A - 100.00% $269,000 -4.95%

100.00% 0.00% 90.00%

58 9 98

71 14 121

BETHLEHEM 1 Family Condo All Sales

1 0 1

BRIDGEWATER 1 Family Condo All Sales

CANAAN 1 Family Condo All Sales

COLEBROOK 1 Family Condo All Sales

1 0 1

CORNWALL 1 Family Condo All Sales

GOSHEN 1 Family Condo All Sales

HARWINTON 1 Family Condo All Sales

KENT 1 Family Condo All Sales

LITCHFIELD 1 Family Condo All Sales

5 2 1 0

10 2 19

22.41% $300,000 $222,500 55.56% 23.47% $267,500 $215,000

0 0 0

2 1 16

N/A N/A N/A

10 0 17

18 2 42

80.00% N/A 147.06%

8 0 9

60.00% N/A 50.00%

43 5 68

56 1 86

30.23% -80.00% 26.47%

3 3 6 4 3

32 6 41

-3.03% 0.00% -4.65%

233 47 345

252 71 404

8.15% 51.06% 17.10%

2 0 3

2 0 4

0.00% N/A 33.33%

15 0 22

13 1 22

-13.33% N/A 0.00%

-25.83% $285,500 N/A $235,000 -19.63% $300,000

$254,900 -10.72% $222,250 -5.43% $254,900 -15.03%

MORRIS 1 Family Condo All Sales

N/A N/A N/A

N/A N/A $161,000

N/A $260,750 N/A N/A N/A $225,000

$336,000 28.86% N/A N/A $229,250 1.89%

NEW HARTFORD 1 Family Condo All Sales

5 0 6

$220,000 N/A $189,500

$268,950 22.25% $229,100 N/A N/A $113,500 $269,900 42.43% $201,000

$247,550 8.05% N/A - 100.00% $237,000 17.91%

$257,000 $137,563 $255,000

$269,000 $140,000 $252,000

$279,750 3.61% $115,000 -14.81% $245,000 0.00%

NEW MILFORD 1 Family Condo All Sales

4.67% 1.77% -1.18%

$270,000 $135,000 $245,000

NORFOLK 1 Family Condo All Sales

24 | THE COMMERCIAL RECORD | NOVEMBER 2017

N/A N/A $275,000

N/A N/A $196,500 N/A N/A N/A $72,000 -73.82% $190,750

$250,000 27.23% N/A N/A $202,500 6.16%

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

NORTH CANAAN 1 Family

0 -100.00%

-33.33%

N/A

N/A $153,900

Condo

0 -100.00%

0.00%

N/A

0 -100.00%

-48.72%

$117,000 $163,000

All Sales

N/A -100.00%

N/A

$157,500 N/A

2.34% N/A

$149,000

$157,500

5.70%

$166,000

$161,000

-3.01%

$93,950

$106,000

12.83%

$154,000

$155,000

0.65%

$550,000

10.55%

PLYMOUTH 1 Family

1 4

57.14%

143

81.01%

Condo

100.00%

-20.00%

1 7

47.06%

111

167

50.45%

1 Family

0.00%

Condo

0.00%

All Sales

N/A $153,000

$146,112 N/A $137,223

-10.36% N/A -10.31%

ROXBURY

All Sales

N/A

N/A -5.88%

N/A

N/A $497,500

N/A

N/A $472,500

N/A

$545,000

15.34%

$381,750

-3.35%

SALISBURY 1 Family

-62.50%

5.26%

Condo

0 -100.00%

-66.67% 12.24%

$370,000

$238,000

-35.68%

$345,000

$400,000

15.94%

$612,500

$280,000

-54.29%

$331,250

$347,500

4.91%

All Sales

$405,000 N/A

$238,000 N/A

-41.23%

$395,000

N/A $305,000

1 1

-72.73%

1 Family

0.00%

-23.53%

Condo

200.00%

0.00%

-6.52%

$612,500

$280,000

-54.29%

120.00%

60.53%

$192,000

$150,000

-21.88%

0 -100.00%

-30.00%

57.14%

43.86%

$192,000

$150,000

N/A - 100.00%

SHARON

All Sales

N/A

$165,100

N/A

$305,000

$320,000

4.92%

$210,000

$186,000 -11.43%

THOMASTON 1 Family

Condo

All Sales

N/A

N/A $101,500

$97,000

-4.43%

-21.88%

$185,000

$176,000

-4.86%

TORRINGTON 1 Family

3 5

22.86%

298

297

-0.34%

$132,500

$135,000

1.89%

$132,250

$134,000

1.32%

Condo

-44.44%

-1.56%

$58,000

$89,000

53.45%

$68,750

$80,000

16.36%

5 0

20.00%

459

464

1.09%

$112,250

$120,000

6.90%

$119,000

$117,950

-0.88%

1 Family

0.00%

-50.00%

Condo

0.00%

-33.33%

44 1

All Sales

WARREN

All Sales

N/A

N/A $440,500

N/A

$331,500 -24.74% N/A

N/A

-21.74%

$321,000

$320,000

-0.31%

$318,500

$331,500

4.08%

4.55%

$507,500

$489,861

-3.48%

$500,000

$492,500

-1.50%

400.00%

$229,000

N/A

WASHINGTON 1 Family

Condo

-55.56%

5.17%

$460,000

$489,861

All Sales

N/A

6.49%

$467,500

$410,000 -12.30%

WATERTOWN 1 Family

1 9

10.53%

179

191

6.70%

$200,000

$220,300

10.15%

$191,700

$204,000

6.42%

Condo

0.00%

5.00%

$185,000

$166,500

-10.00%

$163,250

$166,500

1.99%

3 4

-26.47%

256

275

7.42%

$200,000

$209,000

4.50%

$185,000

$190,000

2.70%

-27.27%

6.02%

$165,000

$156,000

-5.45%

$148,900

$164,500

10.48%

100.00%

$69,500

$72,500

4.32%

10.85%

$132,000

$146,500

10.98%

$135,000

$155,000

14.81% -5.05%

All Sales

WINCHESTER 1 Family

1 1

Condo

1 8

-22.22%

129

143

All Sales

N/A

$57,500

N/A

WOODBURY 1 Family

-28.57%

5.88%

$270,000

$475,000

75.93%

$346,250

$328,750

Condo

-20.00%

14.81%

$110,000

$86,000

-21.82%

$129,500

$115,000 -11.20%

1 4

-7.14%

121

123

1.65%

$151,250

$115,000

-23.97%

$275,000

3.24% 1,518

All Sales

0.00%

LITCHFIELD COUNTY 1 Family

1 85

191

Condo

2 9

2 76

280

All Sales

1,634

7.64%

$215,000

$200,000

-6.98%

$216,750

$223,500

3.11%

215

249

15.81%

$114,500

$115,000

0.44%

$112,500

$108,000

-4.00%

1.45% 2,260

2,449

8.36%

$193,750

$171,500

-11.48%

$191,850

$191,500

-0.18%

-6.90%

NOVEMBER 2017 | THE COMMERCIAL RECORD | 25

TRENDLINES

MIDDLESEX COUNTY SALES REPORT

NUMBER OF SALES SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

38 0 43

41 0 47

7.89% N/A 9.30%

SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

CHESTER 1 Family Condo All Sales

5 0 6

3 0 3

-40.00% N/A -50.00%

$220,000 N/A $258,500

$295,000 34.09% $256,063 N/A N/A N/A $295,000 14.12% $250,125

$285,000 11.30% N/A N/A $280,000 11.94%

1 6 2 2 0

21 1 25

31.25% -50.00% 25.00%

136 29 198

138 25 193

1.47% -13.79% -2.53%

$246,500 N/A $237,500

$280,000 13.59% $263,950 N/A N/A $155,000 $268,500 13.05% $239,000

$267,500 1.34% $128,000 -17.42% $245,000 2.51%

11 13 25

10.00% 30.00% 13.64%

92 101 220

95 110 223

3.26% 8.91% 1.36%

$252,250 $124,000 $194,250

$282,000 $148,000 $187,000

$250,000 $135,000 $177,000

44 5 56

31 13 54

-29.55% 160.00% -3.57%

$229,000 N/A $229,000

$255,000 11.35% $233,700 N/A N/A $134,600 $189,500 -17.25% $233,700

$226,500 -3.08% $131,500 -2.30% $196,500 -15.92%

CLINTON 1 Family Condo All Sales

CROMWELL 1 Family Condo All Sales

1 0 1 0 2 2

11.79% 19.35% -3.73%

$259,000 $132,000 $179,000

-3.47% 2.27% -1.12%

DEEP RIVER 1 Family Condo All Sales

5 0 6

5 2 8

0.00% N/A 33.33%

1 0 1 1 2

9 -10.00% 0 -100.00% 9 -25.00%

66 4 82

76 2 88

15.15% -50.00% 7.32%

$207,250 N/A $207,250

$239,900 15.75% $283,500 N/A N/A $204,950 $239,900 15.75% $276,500

$341,250 20.37% N/A - 100.00% $335,255 21.25%

10 -28.57% 0 -100.00% 19 -13.64%

96 3 122

101 3 142

5.21% 0.00% 16.39%

$206,250 N/A $211,339

$182,000 -11.76% $250,950 N/A N/A $203,677 $129,000 -38.96% $225,500

$235,000 -6.36% $145,000 -28.81% $211,250 -6.32%

2 0 3 2 9

15 4 22

120 11 158

127 23 188

5.83% 109.09% 18.99%

$257,500 $150,000 $230,000

$257,900 $119,500 $200,000

$241,000 -5.86% $150,000 0.00% $222,450 -11.90%

7 0 8

8 2 12

14.29% N/A 50.00%

60 14 86

69 6 93

15.00% -57.14% 8.14%

$319,000 N/A $304,500

$337,500 N/A $305,000

5.80% $312,750 N/A $221,250 0.16% $284,000

9 0 1 0

9 0 10

0.00% N/A 0.00%

88 0 102

85 1 116

-3.41% N/A 13.73%

$250,000 N/A $247,500

$235,000 N/A $232,500

-6.00% $254,000 N/A N/A -6.06% $245,000

$280,000 10.24% N/A N/A $271,100 10.65%

4 0 8

-55.56% N/A -20.00%

71 0 77

75 1 97

5.63% N/A 25.97%

$319,900 N/A $327,900

$232,500 -27.32% $320,000 N/A N/A N/A $223,750 -31.76% $330,000

$329,800 3.06% v N/A $295,000 -10.61%

7 1 8

16.67% N/A 14.29%

34 4 48

43 7 62

26.47% 75.00% 29.17%

$277,500 N/A $305,000

$200,000 -27.93% $266,000 N/A N/A $198,450 $230,500 -24.43% $256,500

$248,600 $214,000 $246,450

-6.54% 7.84% -3.92%

DURHAM 1 Family Condo All Sales

EAST HADDAM 1 Family Condo All Sales

1 4 1 2 2

EAST HAMPTON 1 Family Condo All Sales

-25.00% 33.33% -24.14%

0.16% -20.33% -13.04%

$256,000 $150,000 $252,500

ESSEX 1 Family Condo All Sales

$319,000 $202,500 $295,000

2.00% -8.47% 3.87%

HADDAM 1 Family Condo All Sales

KILLINGWORTH 1 Family Condo All Sales

9 0 1 0

MIDDLEFIELD 1 Family Condo All Sales

6 0 7

MIDDLETOWN 1 Family Condo All Sales

2 3 1 5 5 0

32 12 61

39.13% -20.00% 22.00%

229 102 403

305 103 504

33.19% 0.98% 25.06%

$238,000 $88,500 $160,250

$203,500 $104,000 $174,000

-14.50% 17.51% 8.58%

$220,000 $102,250 $173,200

$205,000 $110,000 $175,000

-6.82% 7.58% 1.04%

14 1 16

0.00% -50.00% -23.81%

103 11 153

140 18 186

35.92% 63.64% 21.57%

$425,000 N/A $415,000

$352,950 -16.95% $363,000 N/A N/A $350,000 $352,950 -14.95% $350,000

$370,000 $373,125 $364,500

1.93% 6.61% 4.14%

11 3 16

0.00% 200.00% 6.67%

86 12 126

94 12 134

9.30% 0.00% 6.35%

$259,900 N/A $259,900

$221,000 $190,000 $205,000

$244,500 3.66% $125,000 -33.24% $213,750 -4.87%

OLD SAYBROOK 1 Family Condo All Sales

1 4 2 2 1

PORTLAND 1 Family Condo All Sales

1 1 1 1 5

26 | THE COMMERCIAL RECORD | NOVEMBER 2017

-14.97% $235,875 N/A $187,250 -21.12% $224,700

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

37 4 65

76 9 97

105.41% 125.00% 49.23%

$216,000 N/A $235,500

$375,000 73.61% $295,000 N/A N/A $388,500 $330,000 40.13% $266,000

$329,500 11.69% $325,000 -16.34% $325,000 22.18%

5.56% 1,300 11.43% 300 4.51% 1,939

1,496 333 2,224

15.08% 11.00% 14.70%

$259,950 $125,000 $238,950

$255,000 $148,000 $224,700

$265,000 $129,000 $235,000

WESTBROOK 1 Family Condo All Sales

3 0 6

12 0 13

300.00% N/A 116.67%

MIDDLESEX COUNTY 1 Family Condo All Sales

1 62 3 5 2 44

171 39 255

-1.90% 18.40% -5.96%

$260,000 $131,500 $235,000

1.92% -1.90% 0.00%

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NOVEMBER 2017 | THE COMMERCIAL RECORD | 27

TRENDLINES

NEW HAVEN COUNTY SALES REPORT

NUMBER OF SALES SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

ANSONIA 1 Family Condo All Sales

1 1 0 1 6

16 0 27

45.45% N/A 68.75%

119 4 176

126 2 196

5.88% -50.00% 11.36%

$185,000 N/A $184,950

$187,250 N/A $189,000

1.22% $179,000 N/A $107,500 2.19% $170,000

$180,000 0.56% N/A -100.00% $179,500 5.59%

7 0 8

2 2 4

-71.43% N/A -50.00%

42 13 70

41 16 78

-2.38% 23.08% 11.43%

$340,000 N/A $299,425

N/A -100.00% $236,000 N/A N/A $313,700 $170,000 -43.22% $244,950

$246,000 4.24% $210,500 -32.90% $247,000 0.84%

8 0 8

2 0 3

-75.00% N/A -62.50%

49 0 52

46 0 54

-6.12% N/A 3.85%

$433,750 N/A $433,750

N/A -100.00% $337,500 N/A N/A N/A $350,000 -19.31% $322,750

$323,750 -4.07% N/A N/A $317,500 -1.63%

27 17 53

58.82% 6.25% 29.27%

162 121 337

180 139 396

11.11% 14.88% 17.51%

$317,000 $145,000 $245,000

$299,000 $130,000 $235,000

-5.68% -10.34% -4.08%

$312,443 $152,000 $225,000

$300,000 $156,000 $232,000

-3.98% 2.63% 3.11%

2 5 5 3 5

25 7 37

0.00% 40.00% 5.71%

227 52 320

242 64 342

6.61% 23.08% 6.88%

$271,000 $180,000 $265,000

$275,000 $175,000 $261,000

1.48% -2.78% -1.51%

$305,000 $168,000 $283,750

$320,000 $157,450 $286,000

4.92% -6.28% 0.79%

8 4 1 7

4 8 15

-50.00% 100.00% -11.76%

63 32 133

51 58 148

-19.05% 81.25% 11.28%

$175,000 $129,750 $125,500

$139,666 $150,000 $157,500

-20.19% 15.61% 25.50%

$189,900 $126,500 $160,000

$170,000 -10.48% $144,775 14.45% $150,000 -6.25%

31 8 45

40.91% 100.00% 45.16%

223 78 338

260 83 391

16.59% 6.41% 15.68%

$202,000 $289,973 $190,000

$205,000 $182,500 $197,500

1.49% -37.06% 3.95%

$181,000 $134,000 $178,950

$179,125 $139,000 $174,900

-1.04% 3.73% -2.26%

201 24 256

209 42 299

3.98% $395,000 75.00% 16.80% $390,000

$377,250 $218,750 $303,500

-4.49% $350,000 N/A $114,750 -22.18% $331,950

$378,000 $203,750 $368,000

8.00% 77.56% 10.86%

BEACON FALLS 1 Family Condo All Sales

BETHANY 1 Family Condo All Sales

BRANFORD 1 Family Condo All Sales

1 7 1 6 4 1

CHESHIRE 1 Family Condo All Sales

DERBY 1 Family Condo All Sales

EAST HAVEN 1 Family Condo All Sales

2 2 4 3 1

GUILFORD 1 Family Condo All Sales

1 4 0 1 7

20 4 27

42.86% N/A 58.82%

4 4 1 1 6 1

25 7 37

-43.18% -36.36% -39.34%

412 89 576

372 84 532

-9.71% -5.62% -7.64%

$179,950 $100,000 $170,000

$175,000 $124,000 $175,000

-2.75% 24.00% 2.94%

$192,500 $112,000 $180,000

$199,450 $112,500 $190,000

3.61% 0.45% 5.56%

1 9 1 2 0

13 2 16

-31.58% 100.00% -20.00%

205 15 241

200 21 249

-2.44% 40.00% 3.32%

$400,000 N/A $392,500

$493,500 N/A $399,000

23.38% $400,000 N/A $230,000 1.66% $382,000

$405,000 $370,000 $390,000

1.25% 60.87% 2.09%

4 4 1 0 7 3

61 8 81

38.64% -20.00% 10.96%

409 111 657

455 96 693

11.25% -13.51% 5.48%

$176,000 $104,950 $158,000

$167,000 $134,500 $158,500

-5.11% 28.16% 0.32%

$159,000 $96,250 $142,500

1.92% 3.49% 5.56%

9 2 1 6

13 1 15

44.44% -50.00% -6.25%

62 13 109

79 21 125

27.42% 61.54% 14.68%

$245,000 N/A $242,500

$300,000 N/A $300,000

22.45% $259,000 N/A $450,000 23.71% $281,500

$280,000 8.11% $347,000 -22.89% $303,000 7.64%

6 0 2 2 8 8

62 22 94

3.33% 0.00% 6.82%

437 143 663

498 166 750

13.96% 16.08% 13.12%

$270,000 $139,500 $251,300

$317,500 $203,500 $275,000

17.59% 45.88% 9.43%

$278,000 $170,500 $260,000

$295,000 $199,000 $270,000

6.12% 16.72% 3.85%

26 5 34

8.33% 0.00% 0.00%

236 47 335

250 42 377

5.93% -10.64% 12.54%

$171,950 $88,000 $144,950

$172,500 $87,000 $153,000

0.32% -1.14% 5.55%

$162,535 $73,000 $149,000

$167,000 $78,000 $157,250

2.75% 6.85% 5.54%

HAMDEN 1 Family Condo All Sales

MADISON 1 Family Condo All Sales

MERIDEN 1 Family Condo All Sales

$156,000 $93,000 $135,000

MIDDLEBURY 1 Family Condo All Sales

MILFORD 1 Family Condo All Sales

NAUGATUCK 1 Family Condo All Sales

2 4 5 3 4

28 | THE COMMERCIAL RECORD | NOVEMBER 2017

Real estate & credit transactions updated every Thursday

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

NUMBER OF SALES SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

282 117 780

302 155 835

7.09% 32.48% 7.05%

$171,200 $151,250 $166,000

$152,500 $170,000 $164,300

-10.92% 12.40% -1.02%

$175,000 $133,000 $164,950

$167,800 $134,900 $167,600

-4.11% 1.43% 1.61%

103 16 130

118 27 172

14.56% 68.75% 32.31%

$232,750 N/A $232,750

$195,000 $118,000 $152,250

-16.22% $255,000 N/A $155,000 -34.59% $246,250

$255,000 $150,000 $234,900

0.00% -3.23% -4.61%

NEW HAVEN 1 Family Condo All Sales

3 4 1 8 9 7

32 11 82

-5.88% -38.89% -15.46%

NORTH BRANFORD 1 Family Condo All Sales

1 4 0 1 6

15 3 21

7.14% N/A 31.25%

NORTH HAVEN 1 Family Condo All Sales

2 5 2 3 0

21 2 32

-16.00% 0.00% 6.67%

195 19 261

188 20 273

-3.59% 5.26% 4.60%

$262,000 N/A $275,000

$280,000 N/A $283,750

6.87% $262,000 N/A $228,000 3.18% $260,000

$280,000 $254,000 $298,270

6.87% 11.40% 14.72%

1 0 1 1 2

20 2 23

100.00% 100.00% 91.67%

120 5 150

116 11 147

-3.33% 120.00% -2.00%

$314,000 N/A $316,500

$307,500 N/A $341,500

-2.07% $342,000 N/A $498,368 7.90% $362,000

$327,500 $451,586 $341,500

-4.24% -9.39% -5.66%

1 1 2 2 2

2 4 15

-81.82% 100.00% -31.82%

90 23 151

99 19 148

10.00% -17.39% -1.99%

$285,000 -100.00% $327,500 N/A $383,500 N/A $370,000 $323,500 $374,860 15.88% $346,490

$317,000 $374,860 $329,500

-3.21% 1.31% -4.90%

71 23 111

75 31 131

5.63% 34.78% 18.02%

$260,500 N/A $261,000

$290,000 N/A $287,500

$284,901 8.53% $305,000 -16.18% $295,000 6.96%

ORANGE 1 Family Condo All Sales

OXFORD 1 Family Condo All Sales

PROSPECT 1 Family Condo All Sales

1 2 0 1 5

12 2 16

0.00% N/A 6.67%

11.32% $262,500 N/A $363,856 10.15% $275,805

SEYMOUR 1 Family Condo All Sales

1 7 1 2 0

17 1 22

0.00% 0.00% 10.00%

128 24 181

137 30 200

7.03% 25.00% 10.50%

$240,000 N/A $234,750

$207,000 -13.75% $215,500 N/A N/A $98,000 $201,500 -14.16% $192,000

$207,500 $145,000 $195,500

-3.71% 47.96% 1.82%

16 25 41

-11.11% 38.89% 2.50%

165 194 386

158 235 421

-4.24% 21.13% 9.07%

$347,000 $145,250 $257,000

$386,000 $140,000 $215,000

11.24% -3.61% -16.34%

$335,000 $125,500 $198,750

$330,500 $136,000 $208,500

-1.34% 8.37% 4.91%

37 13 55

12.12% 44.44% 19.57%

305 98 475

315 108 482

3.28% 10.20% 1.47%

$244,000 $210,000 $246,000

$284,900 $155,900 $254,000

16.76% -25.76% 3.25%

$242,000 $176,298 $235,000

$250,000 3.31% $154,000 -12.65% $235,250 0.11%

58 21 107

-13.43% 50.00% -9.32%

534 141 938

574 147 1,000

7.49% 4.26% 6.61%

$110,000 $52,000 $105,350

$117,250 $65,000 $95,000

6.59% 25.00% -9.82%

$103,500 $53,000 $88,000

$104,000 $65,000 $90,750

0.48% 22.64% 3.13%

38 5 50

-26.92% -44.44% -30.56%

317 69 487

348 75 544

9.78% 8.70% 11.70%

$174,000 $115,000 $158,250

$169,950 $109,000 $169,950

-2.33% -5.22% 7.39%

$159,500 $105,000 $158,000

$168,000 $109,000 $165,000

5.33% 3.81% 4.43%

11.97% -30.00% 2.60%

$199,750 N/A $199,750

$173,500 -13.14% $215,000 N/A N/A $173,000 $172,750 -13.52% $201,250

$197,000 $175,000 $196,000

-8.37% 1.16% -2.61%

-17.48% N/A -11.11%

$413,250 N/A $413,250

$439,900 N/A $439,900

$385,000 N/A $385,000

4.05% N/A 5.48%

5.17% 14.79% 7.72%

$218,000 $138,000 $190,000

$215,000 $145,000 $193,000

$220,000 $142,500 $195,000

1.38% 9.62% 2.03%

SOUTHBURY 1 Family Condo All Sales

1 8 1 8 4 0

WALLINGFORD 1 Family Condo All Sales

3 3 9 4 6

WATERBURY 1 Family Condo All Sales

6 7 1 4 1 18

WEST HAVEN 1 Family Condo All Sales

5 2 9 7 2

WOLCOTT 1 Family Condo All Sales

8 0 1 2

13 0 16

62.50% N/A 33.33%

117 10 154

131 7 158

5 1 7

-58.33% N/A -41.67%

103 0 108

85 1 96

-1.92% 5,377 17.53% 1,481 -0.20% 8,575

5,655 1,700 9,237

WOODBRIDGE 1 Family Condo All Sales

1 2 0 1 2

6.45% $370,000 N/A N/A 6.45% $365,000

NEW HAVEN COUNTY 1 Family Condo All Sales

6 25 1 54 9 77

613 181 975

-1.38% 5.07% 1.58%

$217,000 $130,000 $191,125

NOVEMBER 2017 | THE COMMERCIAL RECORD | 29

TRENDLINES

NEW LONDON COUNTY SALES REPORT

NUMBER OF SALES SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

BOZRAH 1 Family Condo All Sales

3 0 4

1 0 1

-66.67% N/A -75.00%

23 0 28

13 0 20

-43.48% N/A -28.57%

$165,000 N/A $200,000

N/A -100.00% $175,000 N/A N/A N/A N/A -100.00% $177,500

$165,000 -5.71% N/A N/A $166,250 -6.34%

12 3 17

9.09% 50.00% -5.56%

148 18 191

158 19 202

6.76% 5.56% 5.76%

$187,000 N/A $191,000

$230,500 $184,000 $194,000

23.26% $237,450 N/A $207,500 1.57% $230,000

$242,500 2.13% $184,000 -11.33% $230,000 0.00%

24 7 33

9.09% -36.36% -8.33%

161 48 251

173 51 266

7.45% 6.25% 5.98%

$269,450 $173,000 $214,500

$273,000 $262,500 $268,000

1.32% 51.73% 24.94%

$299,000 $200,000 $274,000

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

19 0 24

14 0 20

-26.32% N/A -16.67%

N/A N/A $310,000

8 0 1 2

6 1 9

49 6 83

64 9 106

30.61% 50.00% 27.71%

$182,500 N/A $182,500

$180,750 N/A $166,500

-0.96% $140,000 N/A $99,950 -8.77% $112,000

$165,750 18.39% $46,193 -53.78% $127,400 13.75%

2 8 8 4 5

33 5 47

17.86% -37.50% 4.44%

222 46 330

269 67 424

21.17% 45.65% 28.48%

$207,500 $109,112 $205,000

$234,000 $202,000 $234,000

12.77% 85.13% 14.15%

$229,900 $142,000 $218,000

8 0 9

9 0 18

12.50% N/A 100.00%

70 0 81

86 1 126

22.86% N/A 55.56%

$197,000 N/A $220,000

$209,900 6.55% $197,450 N/A N/A N/A $180,438 -17.98% $190,000

$195,000 -1.24% N/A N/A $177,938 -6.35%

2 3 2 2 7

20 5 27

-13.04% 150.00% 0.00%

187 11 221

158 12 205

$220,000 N/A $219,900

$255,000 $90,000 $248,000

$226,750 $64,950 $220,000

2 0 3

3 0 3

50.00% N/A 0.00%

31 0 46

30 0 42

-3.23% N/A -8.70%

N/A N/A $249,900

$160,000 N/A $205,000 N/A N/A N/A $160,000 -35.97% $171,400

$188,450 -8.07% N/A N/A $184,000 7.35%

7 0 7

2 0 5

-71.43% N/A -28.57%

31 0 42

18 0 33

-41.94% N/A -21.43%

$360,000 N/A $360,000

N/A -100.00% $395,000 N/A N/A N/A $276,000 -23.33% $376,000

$389,500 -1.39% N/A N/A $389,000 3.46%

16 -20.00% 0 -100.00% 19 -20.83%

142 5 184

177 7 218

24.65% 40.00% 18.48%

$167,732 N/A $160,232

$198,500 18.34% $180,000 N/A N/A $52,000 $184,900 15.40% $173,750

$185,000 $52,758 $173,250

14 3 28

7.69% 0.00% -6.67%

111 30 248

134 27 236

20.72% -10.00% -4.84%

$188,500 $142,000 $114,500

$209,450 $80,000 $140,200

$148,000 0.68% $90,000 -32.33% $137,100 5.46%

33.33% N/A 50.00%

57 0 76

62 0 87

8.77% N/A 14.47%

$210,000 N/A $265,000

$180,000 -14.29% $240,000 N/A N/A N/A $173,000 -34.72% $230,314

$262,000 9.17% N/A N/A $249,000 8.11%

160 42 269

236 39 371

47.50% -7.14% 37.92%

$128,500 $69,020 $108,000

$137,138 6.72% N/A -100.00% $129,900 20.28%

$133,250 $104,400 $122,500

COLCHESTER 1 Family Condo All Sales

1 1 2 1 8

EAST LYME 1 Family Condo All Sales

2 2 1 1 3 6

$277,000 $177,000 $260,000

7.94% 12.99% 5.38%

FRANKLIN 1 Family Condo All Sales

2 0 3

N/A N/A $212,500 N/A N/A N/A N/A -100.00% $206,250

$200,500 -5.65% N/A N/A $163,250 -20.85%

GRISWOLD 1 Family Condo All Sales

-25.00% N/A -25.00%

GROTON 1 Family Condo All Sales

$225,700 $117,000 $202,000

1.86% 21.37% 7.92%

LEBANON 1 Family Condo All Sales

LEDYARD 1 Family Condo All Sales

-15.51% 9.09% -7.24%

15.91% $204,000 N/A $46,000 12.78% $202,000

11.15% 41.20% 8.91%

LISBON 1 Family Condo All Sales

LYME 1 Family Condo All Sales

MONTVILLE 1 Family Condo All Sales

2 0 1 2 4

2.78% 1.46% -0.29%

NEW LONDON 1 Family Condo All Sales

1 3 3 3 0

11.11% -43.66% 22.45%

$147,000 $133,000 $130,000

NORTH STONINGTON 1 Family Condo All Sales

9 0 1 0

12 0 15

1 8 3 2 5

32 1 43

NORWICH 1 Family Condo All Sales

77.78% -66.67% 72.00%

30 | THE COMMERCIAL RECORD | NOVEMBER 2017

$125,000 $101,250 $106,000

6.60% 3.11% 15.57%

Real estate & credit transactions updated every Thursday

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

NUMBER OF SALES SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

OLD LYME 1 Family

Condo

33.93%

-75.00%

44.44%

17.50%

$363,000

$370,000

1.93%

$338,750

$350,000

3.32%

1 Family

Condo

-55.56%

4.55%

$221,500

$192,500

-13.09%

$216,450

$215,500

-0.44%

0.00%

-50.00%

1 2

-50.00%

5.08%

$190,250

$188,000

-1.18%

$208,200

$202,500

-2.74%

1 Family

0.00%

23.33%

$229,500

$251,950

9.78%

$269,000

$244,000

-9.29%

Condo

-50.00%

1 0

-20.00%

17.78%

1 Family

0.00%

-8.00%

Condo

-33.33%

All Sales

66.67% N/A

$392,500 N/A

$422,500 N/A

7.64%

$345,000

N/A $252,500

$360,000

4.35%

N/A -100.00%

PRESTON

All Sales

N/A

SALEM

All Sales

N/A

N/A $187,500

N/A $228,000

N/A 21.60%

N/A $219,000

N/A $224,000

N/A 2.28%

SPRAGUE

All Sales

N/A

N/A $190,000

N/A

3.33%

$173,145

$282,500

N/A -100.00%

N/A

$169,900 -10.58% N/A

N/A

$172,573

$150,000 -13.08%

$317,000

$324,500

2.37%

N/A $250,000

$339,000

35.60% 6.76%

STONINGTON 1 Family

1 3

30.77%

126

162

28.57%

Condo

500.00%

109.09%

2 0

60.00%

206

245

18.93%

-50.00%

-28.57%

All Sales

N/A $210,000

$335,000 $432,500 $330,000

18.58% 57.14%

$281,000

$300,000

$254,950 -100.00%

$171,000

$147,000 -14.04%

VOLUNTOWN 1 Family

Condo

-20.00%

All Sales

N/A

-18.60%

$250,000

$159,000

N/A

-36.40%

$149,900

$140,000

-6.60%

7.67%

WATERFORD 1 Family

2 5

4.00%

236

239

1.27%

$210,000

$215,000

2.38%

$215,000

$231,500

Condo

0.00%

12.50%

$169,500

$95,500

-43.66%

$147,750

$121,450 -17.80%

3 2

-3.13%

300

303

1.00%

$205,389

$199,000

-3.11%

$202,250

$221,500

9.52%

5.02% 1,963

4.27%

All Sales

NEW LONDON COUNTY 1 Family

2 39

251

Condo

3 6

3 44

361

All Sales

2,199

12.02%

$210,000

$230,000

9.52%

$211,000

$220,000

257

295

14.79%

$143,950

$160,000

11.15%

$132,000

$135,000

2.27%

4.94% 2,837

3,179

12.05%

$195,000

$206,000

5.64%

$190,000

$198,500

4.47%

2.78%

LOOKING FOR MORE? Our online real estate records offer a much deeper look into your markets and neighborhoods. Every Thursday, CommercialRecord.com is updated with the most recent sales, foreclosure, mortgage, and credit information available from The Warren Group. Our weekly digital records are available in a convenient, searchable PDF format through 2009. Each PDF is organized by county, town, and street to make it easy to find the exact data you need to make informed business decisions. As a bonus, all subscribers to The Commercial Record get access to similar weekly data from Rhode Island. Just navigate to commercialrecord.com, log in, click on Rhode Island Records under the Real Estate Transactions tab, and get busy putting The Commercial Record to work for you.

NOVEMBER 2017 | THE COMMERCIAL RECORD | 31

TRENDLINES

TOLLAND COUNTY SALES REPORT

NUMBER OF SALES SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 YTD

MEDIAN PRICE %CHG 16-17

SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

ANDOVER 1 Family Condo All Sales

4 0 5

1 0 3

-75.00% N/A -40.00%

30 0 38

23 0 33

-23.33% N/A -13.16%

$243,000 N/A $226,000

N/A -100.00% $239,500 N/A N/A N/A $160,000 -29.20% $228,000

$269,000 12.32% N/A N/A $230,000 0.88%

5 0 6

8 0 10

60.00% N/A 66.67%

41 0 50

44 0 55

7.32% N/A 10.00%

$245,000 N/A $236,750

$264,000 7.76% $245,000 N/A N/A N/A $264,000 11.51% $247,500

$239,000 -2.45% N/A N/A $243,000 -1.82%

7 0 8

75.00% N/A 60.00%

53 0 60

60 2 71

13.21% N/A 18.33%

$248,350 N/A $275,000

$237,000 -4.57% $206,000 N/A N/A N/A $224,500 -18.36% $204,250

$238,450 15.75% N/A N/A $220,000 7.71%

22 37.50% 0 -100.00% 30 66.67%

110 9 149

144 9 195

30.91% 0.00% 30.87%

$245,000 N/A $245,000

$229,500 -6.33% $205,500 N/A N/A $125,000 $207,500 -15.31% $202,000

$185,500 -9.73% $124,500 -0.40% $177,000 -12.38%

1 6 2 2 1

13 8 26

-18.75% 300.00% 23.81%

86 20 144

106 36 180

23.26% 80.00% 25.00%

$232,000 N/A $230,000

$322,000 $104,000 $245,900

$265,500 $116,000 $245,500

1 1 1 1 2

11 0.00% 0 -100.00% 11 -8.33%

113 4 127

110 10 126

-2.65% 150.00% -0.79%

$174,000 N/A $175,500

$295,000 69.54% $245,400 N/A N/A $250,000 $295,000 68.09% $244,000

$255,500 4.12% $140,500 -43.80% $250,500 2.66%

8 8 1 8

5 1 11

-37.50% -87.50% -38.89%

105 48 177

106 33 169

0.95% -31.25% -4.52%

$237,500 $220,000 $237,500

$314,000 32.21% N/A -100.00% $314,000 32.21%

$222,000 $241,450 $230,000

$222,500 0.23% $200,000 -17.17% $218,000 -5.22%

8 1 9

7 1 10

-12.50% 0.00% 11.11%

78 6 99

80 4 101

2.56% -33.33% 2.02%

$218,250 N/A $224,000

$226,000 N/A $233,000

3.55% $269,500 N/A $361,450 4.02% $265,000

$266,250 -1.21% $243,000 -32.77% $267,500 0.94%

6 0 8

10 2 16

66.67% N/A 100.00%

80 7 137

85 11 134

6.25% 57.14% -2.19%

$209,000 N/A $206,500

$187,000 -10.53% $209,000 N/A N/A $125,000 $149,625 -27.54% $165,000

$164,900 -21.10% $65,000 -48.00% $128,500 -22.12%

1 0 2 1 5

15 50.00% 0 -100.00% 20 33.33%

132 11 161

153 4 183

4 0 5

9 0 12

125.00% N/A 140.00% 11.83% 5.08% 14.90%

$215,000 $107,500 $180,000

$176,450 $104,500 $166,000

24.14% N/A 10.53%

$262,500 N/A $230,000

$174,500 -33.52% $225,000 N/A N/A N/A $150,000 -34.78% $221,500

$199,500 -11.33% N/A N/A $195,500 -11.74%

11.17% 5.49% 10.83%

$228,500 $215,000 $220,000

$207,400 $104,000 $195,000

$216,500 -1.59% $120,000 -17.43% $199,900 -5.93%

BOLTON 1 Family Condo All Sales

COLUMBIA 1 Family Condo All Sales

4 0 5

COVENTRY 1 Family Condo All Sales

1 6 1 1 8

ELLINGTON 1 Family Condo All Sales

38.79% $232,000 N/A $122,500 6.91% $229,950

14.44% -5.31% 6.76%

HEBRON 1 Family Condo All Sales

MANSFIELD 1 Family Condo All Sales

SOMERS 1 Family Condo All Sales

STAFFORD 1 Family Condo All Sales

TOLLAND 1 Family Condo All Sales

15.91% $212,950 $207,000 -63.64% 13.66% $210,900 $208,450

-2.79% $240,750 N/A $132,000 -1.16% $239,000

$249,900 $139,000 $245,000

3.80% 5.30% 2.51%

UNION 1 Family Condo All Sales

0 0 1

1 0 3

N/A N/A 200.00%

1 7 4 2 9

30 6 42

76.47% 50.00% 44.83%

186 59 302

208 62 347

4 0 5

-50.00% N/A -50.00%

29 0 38

36 2 42

18.58% 1,047 -5.26% 164 24.20% 1,487

1,164 173 1,648

N/A N/A N/A

N/A N/A $220,000

N/A $196,250 N/A N/A N/A $199,000

$264,900 34.98% N/A N/A $231,000 16.08%

VERNON 1 Family Condo All Sales

-17.93% -2.79% -7.78%

$178,700 $118,500 $165,000

$179,950 $111,000 $167,000

0.70% -6.33% 1.21%

WILLINGTON 1 Family Condo All Sales

8 0 1 0

TOLLAND COUNTY 1 Family Condo All Sales

1 13 1 9 1 57

134 18 195

32 | THE COMMERCIAL RECORD | NOVEMBER 2017

-9.23% -51.63% -11.36%

$220,000 $145,325 $212,500

TRENDLINES

WINDHAM COUNTY SALES REPORT

NUMBER OF SALES SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

MEDIAN PRICE

2017 YTD

%CHG 16-17

SEPT. 2016

SEPT. %CHG 2016 2017 16-17 YTD

2017 %CHG YTD 16-17

-13.33% N/A -4.76%

$157,450 N/A $114,950

$185,500 17.82% $185,000 N/A N/A N/A $185,500 61.37% $168,450

$195,000 5.41% N/A N/A $205,500 21.99%

$180,513 N/A $205,563

$220,000 21.87% $202,000 N/A N/A $229,000 $210,000 2.16% $186,000

$209,900 3.91% N/A - 100.00% $191,575 3.00%

ASHFORD 1 Family Condo All Sales

4 0 6

0.00% N/A 0.00%

30 0 42

26 2 40

11 0 13

10.00% N/A 8.33%

86 4 123

93 0 122

7 0 8

7 0 9

0.00% N/A 12.50%

43 0 68

46 0 67

6.98% N/A -1.47%

$189,900 N/A $216,200

$169,900 -10.53% $215,000 N/A N/A N/A $168,250 -22.18% $185,750

$185,500 -13.72% N/A N/A $185,000 -0.40%

3 0 3

2 0 3

-33.33% N/A 0.00%

19 0 26

23 0 31

21.05% N/A 19.23%

$270,000 N/A $270,000

N/A -100.00% $180,000 N/A N/A N/A $102,000 -62.22% $168,870

$150,000 -16.67% N/A N/A $155,000 -8.21%

1 -50.00% 0 -100.00% 1 -66.67%

14 1 25

11 0 21

N/A N/A $205,000

N/A N/A $211,000 N/A N/A N/A N/A -100.00% $197,000

$210,000 -0.47% N/A N/A $191,000 -3.05%

2 0 2

0.00% N/A -60.00%

14 0 35

16 0 28

14.29% N/A -20.00%

N/A N/A $125,000

N/A N/A $197,000 N/A N/A N/A N/A -100.00% $125,000

$193,500 -1.78% N/A N/A $186,500 49.20%

14 2 22

7.69% 0.00% -4.35%

129 13 199

140 19 224

8.53% 46.15% 12.56%

$165,000 N/A $149,000

$175,100 6.12% $150,000 N/A N/A $139,900 $185,100 24.23% $147,000

$166,250 $135,000 $160,750

10.83% -3.50% 9.35%

7 0 8

14 1 21

100.00% N/A 162.50%

92 2 129

120 7 168

30.43% 250.00% 30.23%

$139,900 N/A $150,450

$146,700 N/A $146,000

$150,400 $102,500 $146,700

11.41% N/A 4.79%

1 0 3

5 0 6

400.00% N/A 100.00%

35 0 56

32 0 51

8 4 1 2

6 4 13

-25.00% 0.00% 8.33%

69 28 128

80 26 146

BROOKLYN 1 Family Condo All Sales

1 0 0 1 2

8.14% -100.00% -0.81%

CANTERBURY 1 Family Condo All Sales

CHAPLIN 1 Family Condo All Sales

EASTFORD 1 Family Condo All Sales

2 1 3

-21.43% -100.00% -16.00%

HAMPTON 1 Family Condo All Sales

2 0 5

KILLINGLY 1 Family Condo All Sales

1 3 2 2 3

PLAINFIELD 1 Family Condo All Sales

4.86% $135,000 N/A N/A -2.96% $140,000

POMFRET 1 Family Condo All Sales

-8.57% N/A -8.93%

N/A N/A $51,000

$195,000 N/A $248,000 N/A N/A N/A $182,500 257.84% $237,500

$247,000 -0.40% N/A N/A $246,000 3.58%

$145,500 $162,614 $150,328

$155,000 $179,900 $153,250

PUTNAM 1 Family Condo All Sales

15.94% -7.14% 14.06%

$130,000 $205,465 $155,000

11.92% -20.86% -3.01%

$148,000 $177,500 $140,000

4.73% 1.35% 9.46%

SCOTLAND 1 Family Condo All Sales

2 0 2

0.00% N/A 0.00%

19 0 21

21 0 29

10.53% N/A 38.10%

N/A N/A N/A

N/A $175,000 N/A N/A N/A $175,000

$178,000 1.71% N/A N/A $170,000 -2.86%

5 0 5

66.67% N/A 66.67%

39 2 53

44 2 56

12.82% 0.00% 5.66%

$209,900 N/A $209,900

$190,000 N/A $190,000

-9.48% $182,900 N/A N/A -9.48% $171,000

$202,500 10.72% N/A N/A $179,500 4.97%

2 0 0 2 4

14 1 20

-30.00% N/A -16.67%

115 4 144

100 3 135

-13.04% -25.00% -6.25%

$192,250 N/A $192,250

$202,983 N/A $191,950

5.58% $185,000 N/A $137,450 -0.16% $184,000

$194,500 $145,000 $183,000

5.14% 5.49% -0.54%

1 9 0 2 4

13 0 16

-31.58% N/A -33.33%

117 4 159

122 9 191

4.27% 125.00% 20.13%

$124,000 N/A $126,500

$173,000 39.52% $135,000 N/A N/A $119,950 $151,000 19.37% $127,500

$136,500 $109,500 $128,750

1.11% -8.71% 0.98%

4 3 15

-50.00% 50.00% 7.14%

83 12 139

94 11 140

13.25% -8.33% 0.72%

$272,500 N/A $215,000

$328,950 $126,000 $77,000

20.72% $245,000 N/A $120,000 -64.19% $220,000

$275,000 $142,500 $225,500

12.24% 18.75% 2.50%

-4.59% 904 22.22% 70 2.67% 1,347

968 79 1,449

7.08% 12.86% 7.57%

$175,000 $170,000 $169,950

$186,000 $152,000 $169,900

6.29% -10.59% -0.03%

$176,000 $142,500 $168,000

3.53% 1.82% 5.00%

STERLING 1 Family Condo All Sales

3 0 3

THOMPSON 1 Family Condo All Sales

WINDHAM 1 Family Condo All Sales

WOODSTOCK 1 Family Condo All Sales

8 2 1 4

WINDHAM COUNTY 1 Family Condo All Sales

1 09 9 1 50

104 11 154

$170,000 $139,950 $160,000

NOVEMBER 2017 | THE COMMERCIAL RECORD | 33

FAIRFIELD COUNTY GOSSIP REPORT

Greenwich

New Canaan

Address: 14 Dawn Harbor Lane, Greenwich Price: $5,250,000 Size: 7,755 square feet on 0.89 acres Buyer: Chris Bechtel Seller: 14DH LLC Agent: Houlihan Lawrence Sold: 10/2/17 Address: 615 Lake Ave, Greenwich Price: $7,650,000 Size: 11,072 square feet on 3.61 acres Buyer: Benediximus LLC Seller: Cutter Holdings LLC Agent: Joseph Barbieri, Sotheby’s International

Address: 478 West Road, New Canaan Price: $5,250,000 Size: 9,388 square feet on 2.09 acres Buyer: Michael Mancuso and Polly Mancuso Seller: 478 West Road LLC Agent: Christopher Sigg and Lauren Sigg, William

Realty

Raveis Realty Sold: 9/25/17

Sold: 9/26/17

New Canaan

5 Address: 75 Parish Road, New Canaan Price: $3,150,000 Size: 7,275 square feet on 1.35 acres Buyer: Robert Novak Seller: 75 Parish Road LLC Agent: Christopher Sigg and Lauren Sigg, William Raveis Realty Sold: 9/25/17

1 2

3 4

Ridgefield

Address: 1 Parley Lane, Ridgefield Price: $3,000,000 Size: 6,504 square feet on 1.28 acres Buyer: Charles Gay and Michele Gay Seller: Scot N. Schneider Agent: Jane Tullo, Neumann Real Estate Sold: 9/18/17

The brand-new, five-bedroom, six-bathroom home with beach rights in this month’s number two spot took just over a year and a half to sell at about 80 percent of the original list price. It has a wraparound verandah, 10-foot ceilings on the first floor, three indoor fireplaces and two outdoor fireplaces, a mahogany library, guest suite, recreation room, wine cellar and a three-car heated garage.

34 | THE COMMERCIAL RECORD | NOVEMBER 2017

Coldwell Banker Commercial NRT Welcomes Goodfellow Real Estate

Pictured next to portrait of founder Robert Goodfellow

NRT

KARL “DEE” MARET

TODD PAYNE

JOE VALVANO

National Co-Director Coldwell Banker Commercial NRT

Former President and CEO of Goodfellow Real Estate

President Coldwell Banker Residential Brokerage Connecticut & Westchester County, NY

Coldwell Banker Commercial NRT welcomes Goodfellow Real Estate, a full-service commercial real estate brokerage company based in Danbury, Connecticut. Founded as Goodfellow Ashmore Agency, Inc. in 1934 by Robert Goodfellow and Harry Ashmore, Goodfellow Real Estate is the largest and oldest commercial real estate brokerage firm in western Connecticut. Coldwell Banker Commercial NRT operates in 21 states and provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition, disposition and structured finance of all property types. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial organization comprises almost 200 companies and more than 3,000 professionals throughout the U.S. and internationally. NRT New England, LLC, which does business as Coldwell Banker Commercial NRT and Coldwell Banker Residential Brokerage in Connecticut, has acquired the assets of Goodfellow Real Estate.

GOODFELLOWS.COM 203.744.7025

“We are excited to combine the Goodfellow team with Coldwell Banker Commercial NRT,” stated Todd Payne, Connecticut member of the Society of Industrial and Office Realtors® (SIOR) and former president and CEO of Goodfellow Real Estate and grandson of Goodfellow Real Estate founder Robert Goodfellow. “The industry is consolidating and boutique firms are finding it more difficult to provide the level of service their clients require. The NRT New England senior leadership team is dynamic and focused on giving us the ability to concentrate on our clients while providing us with a global platform and brand. We’ve combined the legacy and expertise of Goodfellow with the worldwide reach of Coldwell Banker Commercial, which operates over 300 offices.” Coldwell Banker Commercial NRT 7 Old Sherman Turnpike, Suite 207 Danbury, CT 06810

© 2017 Coldwell Banker Real Estate LLC, dba Coldwell Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell banker Commercial Affiliates. Each sales representative and broker is responsible for complying any consumer disclosure laws or regulations.

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