Clearly some Sections have a deeper bench in terms of inventory to choose from but keep in mind that available inventory should not be used in isolation as an indicator of sales or demand.
In an ongoing analysis of of the heavy load of property taxes in the metro area, we can all appreciate that while neighboring towns have effective limits on the value of a home given exorbitant taxes, Greenwich can attract: purchasers reluctant to commit to a heavy and ongoing tax load investors who want home appreciation … Continue reading Average Property Taxes on Sold Homes
With taxes on the mind, it's no wonder Greenwich is seeing increased inquiry from New York residents.
The number of rentals continues to exceed the number of sales as overall activity increases in Greenwich, CT.
We can't blame the weather. To be sure, in January it was bitter cold for days and days, and there was the onslaught of the January 2018 bomb cyclone blizzard, and so prospective purchasers weren't as excited about or able to go touring around from house to house in order to decide which one to … Continue reading January Closings
What are some of the typical characteristics of single family homes that sold in Greenwich in 2017? Average Bedrooms: 4.5 Average Square Feet: 4,200 Average Full Baths: 3.5 Average Half Baths: 1.0 Average Fireplaces: 2.0 Average Garages: 2.1 Average Acres: 1.45 Clearly, real estate is not a commodity valued solely by a handful of objective … Continue reading 2017 Home Sale Characteristics
The 2017 Greenwich single family market was intense despite flat sales. According to the Greenwich Multiple Listing Service (MLS) 2017 single family sales compared favorably to 2016: 572 single family sales $1.47 billion in sales volume, up 16% $2.6 million average sales price, up 17% $1.8 million median sales price, up 6% Townwide Greenwich includes … Continue reading 2017 Greenwich Single Family Numbers
Stock markets around the globe rallied and real estate markets are improving across the country, but the blizzard roared in New England and along the Eastern Seaboard reminding us that growth and movement is neither guaranteed nor to be taken for granted. Sometimes, despite all the good, value, effort and success we are presented with … Continue reading The Tone of the Market 2017
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 … Continue reading Townhouses
Consider the $4 to $7 million price range for residential homes. Luxury, quality and privileged few come to mind for the average American. In other communities such a high price range might reflect a location in an exclusive gated community within the most desirable neighborhoods in town. One might expect few bidders. Greenwich is more … Continue reading Not Enough Ribbons
What is the price per bedroom in Greenwich? In order to get a current view, I looked at sales in the trailing twelve months and found the bulk of the homes sold had between three and five bedrooms. There were 566 sales and 37% of the homes sold had four bedrooms. Homes with five bedrooms … Continue reading A Peek At Bedrooms
While long-timers may lament that Greenwich isn't what it used to be (few places are), others see Greenwich for the value and upside it offers today. Given the initial price tag, long term effort and carrying costs, land purchasers assume risk and thus hold a strong belief in upside potential. Those with the capacity to … Continue reading Land Trades Mark Optimism
The residential real estate market is seasonal with the Spring Market representing a particularly active period. Sellers have completed spring cleaning and landscaping and minor repairs, while prospective purchasers often want to move or conduct upgrades during the summer months so they are settled before the next school year begins. Properties go under contract … Continue reading Map of Market Conditions
There are many components a prospective purchaser will consider in valuing real estate. Simplified, they include the land value and improvement value. The value of the land reflects location, size, access, neighborhood, zoning, rights (including untapped building potential or access to public utilities), topography, views and more. The value of the improvements includes the house, … Continue reading Renovations and May Closings
The first quarter of 2017 primed the Greenwich residential real estate market with a Feel Good Feeling, and yet there were still mixed reports on the state of the market. If sales are up, why did it feel slow? I took a look at lockbox showings reports in Greenwich, Cos Cob, Riverside and Old Greenwich … Continue reading A Shift in the Rhythm of the Buying Process
In the prior twelve months there were 604 single family home sales in Greenwich ranging from $400,000 to nearly $20 million. Sales in the entry market, below $500,000, were constrained by a lack of inventory and constituted 1.2% of homes sold. The picture changed dramatically in the $500,000 to $1.5 million range in which there … Continue reading Affordability and Original List Price
The first quarter of 2017 started and ended with notable strength. In March Greenwich single family homes sales surged up 82% to 53 closings in 2017 from 29 closings last year. The average sales price remained flat at $2.6 million. Total single family volume improved 80% to $135 million from $71 million in March of … Continue reading Like a Lion
This week I took a look at select towns in southern Fairfield County Connecticut that share proximity and similarities to Greenwich, including its neighbor, Stamford, New Canaan, Darien and Westport. Stamford Moves Inventory, at a Lower Price Point In 2016, Stamford had the lowest average price point of $685,000, while New Cannan averaged $1.6 million, … Continue reading Stamford, Darien, New Canaan and Westport
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 … Continue reading Back Country Color
February is an awkward month. It's technically the beginning of the Spring Season, but at times it certainly does not feel like it. Listings start to climb, but more are yet to come, and importantly, statistics are often reported as year to date, which offers limited value in February. There is typically a two month … Continue reading Year to Date Yo Yo