Cos Cob: Active and Improving

Cos Cob, CT is enjoying improved sales this year. With 75 sales year-to-date as compared to 59 sales as of this time last year, Cos Cob enjoys a 27% increase in the number of sales and a 21% increase in volume. The median sales price is off slightly to $1.15 million. With 57 homes on the market in Cos Cob today, there is approximately 7.6 months of inventory remaining. The average sales price per square foot was $489, ranging between $232 to $750 as the value reflects considerable variations in location, condition and current size of house relative to buildable square footage. A summary of 2016 sales by elementary school shows some variance by geographic location attributable largely to the size of the lots and similarly the number of bedrooms.

Elem                  #       $ Avg         $PSF       Acres       Beds         DOM

Cos Cob           50      $1.1M         $504       0.28          3.3            119

N Mianus        16      $1.2M         $467       0.52          3.6            242

N Street           24      $1.8M         $463       1.21          4.4            189

While some improvement is likely attributable to the generally affordable price points, Cos Cob has also improved. For example, opened in 2015, the 9 acre waterfront Cos Cob Park includes gorgeous views, walking trail, a multi-purpose sports field, playground and gathering places. Located on the Long Island Sound on the west side of Cos Cob Harbor south of I-95 and Metro North and a quarter mile to the Cos Cob train station, the park has become a focal point for an active community.

Personal Note

I hope to see you at Cassidy Street 1:00 to 3:00PM.  [Contact me for access to Open House Reports).

Cos Cob homeowners should call me to discuss how to best position and market their property to achieve maximum value in this active market. Purchasers should call me to learn how to be best prepared to move quickly and get to closing in this active market.

Happy Thanksgiving!

Warmly,
Mary-Stuart G Freydberg
20 years professional real estate advice
Mary Stuart G Freydberg, Sotheby's International Realty
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