The residential Spring Market in Greenwich continues to sustain momentum. Year-to-date sales volume in Greenwich, Cos Cob, Riverside and Old Greenwich is up 3%, with the median sales price up 7% to $1.5 million and the average sales price up 7% to $2.2 million according to the Greenwich Multiple Listing Service. Notwithstanding the average headlines there is a lot of variability. Click on the May Closings Report link below for some details.
While there are occasional prickly stories, there are also rare finds and wonderful beginnings and endings. Some high profile numbers and stories are retold to the point it seems they reflect the Greenwich residential market as a whole. Not so. For example, two closings in May in excess of $10 million reflect two different stories, neither of which is the most common experience.
On Byram Shore Road on the western edge of Greenwich, a 1916 European style estate with a beautiful waterfront vista on the Long Island Sound closed at $17 million, down from an original asking price of $32 million after years of being on the market. The 12,800 square foot 6 bedroom home on over three acres sold for $1,329 per square foot, reflecting the 2012 renovation, panoramic view and 440′ shoreline, beach and pier.
Also closed in May was a fully updated Georgian in Deer Park Association that sold in under two months. The 8 bedroom, 10 bath 11,115 square foot home boasted modern amenities throughout, architectural details and grandeur. The home and it’s owner’s style showed beautifully. The property is well located and well maintained. The closing price of $11.1 million or $999 per square foot reflected the quality of construction, magazine ready show quality, exclusive neighborhood and a convenient location close to Greenwich Avenue and several schools.
Give me a call to find out what all this means.
Townwide in May:
- The number of sales was essentially flat as compared to the year prior.
- There were an equivalent number of new listings as last year.
- Over 65% of the closings traded for less than $2 million.
- Over 25% of the volume sold was in the Parkway School District.
- The average sales price in Parkway Section was $2.9 million.
- Over 18% of the single family sales were in the $3.0 to $5 million ranges.
Open Houses
Today, Saturday, I will be hosting an open house at 27 Bayside Terrace in Riverside, CT from 2:00 to 4:00PM.
Think:
1) New construction
2) Waterfront
3) Convenience
Stop thinking. Come see!
Mary-Stuart G Freydberg
Your Real Estate Matters
20 years professional real estate advice
