Back Country Color

Mary Stuart Freydberg of Sotheby's International Realty analyzes single family home prices

Back Country Greenwich, or property located north of the Merritt Parkway, is known for its lush landscape, beautiful rolling hills, forests, trails, four acre and larger lots, elevated sweeping views, country clubs, privacy and luxurious estates. Minutes from The Merritt Parkway, Westchester County Airport, I-95 and Metro North, Back Country can seem a world away from the hustle and bustle for New York City commuters and yet within easy reach of schools, community, local shopping, the Long Island Sound and more on weekends.

Within the prior twelve months, 44 properties in the Back Country traded hands with prices ranging from $830,000 to $13,500,000. Half of the homes sold for less than $2,250,000, with the next 16% selling for less than $3,250,000. Larger homes sold over a fairly evenly distributed price range. Over a third were colonial style homes and another 18% were Georgian Colonials. A full 71% were located in the Western Middle School District. Nearly all properties were located in four acre zoning, although a full third were properties less than four acres and 58% were six acres or less.

Properties in coveted neighborhoods or with well known addresses populated the sold scoreboard. In a competitive market, neither is enough on its own. The whole package matters. In reviewing each of the sales, it is apparent that buyers favor (i) significant value foremost and (ii) move in ready condition or homes that feel clean, maintained and updated. Showcasing, whether through full decluttering of homes, updated bathrooms, modern interior decorating or full staging plays a large roll. For the most part, at the higher price points, and particularly over $6 million, the sold homes were staged or fully current and well designed, suggesting that showroom ready homes really do sell. Some sold only after bringing interior decorating, staging and digital photography to its full potential. On the flip side, some exceptions that were not brought up to today’s exceptional standards upfront took a large price cut. At the lower price points, interior decorating appeared to have less of an influence, with pricing, rather than convenience and move-in ready quality, proving to be the determining factor.

Open Houses

Take a look at some of the 81 open houses on Sunday and then give me a call for a private viewing and instruction on how to prepare for the next steps in listing or purchasing a home. March 19, 2017

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