Greenwich is home to a wide variety of homes, including cooperatives, condominiums, flats, townhouses, and single family homes. Greenwich apartments and townhouses tend to be conveniently located near the Post Road and I95 or along the boarder with New York. While some are in or near business districts, others may be nestled in a more residential area or along the Mianus River.
In the prior twelve months there were 63 townhome sales Townwide in Greenwich, according to the Greenwich Multiple Listing Service. Currently, there are 8 listings either pending or under contingent contract. With 31 active listings there is six months worth of inventory across the board.
On average, the townhomes sold in the prior twelve months traded for $915,000. Sold prices ranged from $500,000 to $3.2 million, with 78% selling below $1.0 million. The average townhome was 2,000 square feet had 2.6 bedrooms, 2.3 full bathrooms and a half bathroom.
The bulk of townhomes (16) were sold in the $700,000 to $800,000 range. Currently, there are only three active listings in this price range. Look for more activity in the new year. The sales seemed to be value driven, with the average selling for about $400 per square foot or less than the $600,000 to $700,000 price range and those priced higher. As with single family homes, if you are looking in a popular price range, then be sure to do your homework with your agent well in advance so you can move quickly, which is especially important when there is limited inventory.
The sales were located primarily in Western and Central Greenwich and represented over 35 difference townhouse associations throughout Greenwich. On average, townhome prices were $1.0 million in Central Greenwich, $885,000 in Eastern Greenwich and $700,000 in Western Greenwich.
There were two closings in Greenwich Thanksgiving Week in excess of $20 million:
- 25 Lower Cross Road of Thomas Petterfy (8,000 sf Center Hall Shingle Style on 80 acres)
- 9 Sabine Farm of Stanley Druckenmiller (12,200 sf English Manor on 19.5 acres).
In this season of thanks, I am grateful for every moment I live in Greenwich!