Household formation has long been a driver of real estate. The type of household drives the product demand. A delay in household formation of young adults temporarily suspends demand for starter single family homes and move-up rates. The Great Recession caused economic uncertainty among young adults and perhaps delayed household formation, continuing the cultural trendContinue reading “Marriage Trends”
Shifting into higher gear, during the third quarter of 2018 there was a 26% increase in the number of single family home sales as compared to the same period last year, according the Greenwich Multiple Listing Service. Do keep in mind, the road is not smooth, and changes in the pace of the market areContinue reading “Third Quarter Shifts Into Higher Gear”
Exceptional architectural upgrades and interior design epitomize considerable craftsmanship, efficient design and sophisticated appeal.
Single family home closings in Greenwich, Cos Cob, Riverside and Old Greenwich, CT were mixed in September over the same period the prior year. Closings generally reflect sales that occurred 30 to 90 days prior. Some month to month volatility is expected. Compared to last September, this year: The number of single family sales wasContinue reading “September Closings”
Milbrook is a private gated community of single family homes in Greenwich, Connecticut. East of Greenwich’s central shopping and business districts, west of Cos Cob, north of I-95 and south of Post Road, Milbrook is conveniently located close to shopping, business districts, schools, the Greenwich Train Station and main thoroughfares. The golf course, the extendedContinue reading “Milbrook Community”
Gorgeous New Listing! 606 West Lyon Farm Wake up to water views from your east facing first floor master suite. Good morning! Enjoy a chef’s kitchen with Viking, Sub-Zero, Bosch, large center island and other high end features in this bright eat-in kitchen. Luxury and efficiency. Entertain in your living room with lofted ceilings, woodContinue reading “606 West Lyon Farm, Greenwich, CT”
Some high profile stories are retold to the point it seems seems they reflect the Greenwich market as a whole. They do not.
Greenwich has extraordinary depth of pricing. Greenwich is a community you can call home for years to come.
It’s often repeated in major metro areas and elsewhere throughout the country: Housing supply is not meeting housing demand in terms of price, condition and location. To be sure, national trends do not always apply to high end markets like Greenwich, New York, San Francisco and Los Angeles. But large scale demographic trends, such asContinue reading “Lamenting Housing Supply”
Zoning regulations enable a town to manage land use and development. A town map will identify zones. Generally, zoning follows a logic based on historic and current use, transportation arteries, commercial districts, natural resources, the availability of public utilities, residential character, parks and topography. In Greenwich, commercial districts are centered along Greenwich Avenue, its environs,Continue reading “Less Than Half an Acre”
It’s too soon to tell. Year to date analysis doesn’t make much sense. The Spring market just started. Will the market take off? Progress slowly? Yield to other concerns? Or will it stick it’s neck out and make others pay attention! We are not sure yet. Sellers need to protect their assets and notContinue reading “Proceed With Care”
Property taxes in the Town of Greenwich are ad valorum, or value add. The Assessor’s office determines market value each year as of October 1st and then calculates assessed value as 70% of market value. By state law, every real estate property is revalued at least every five years. The most recent town revaluation wasContinue reading “Property Taxes: The Basics”
At this time of year we often look forward to the leaves changing and the accompanying array of blazing colors. It wouldn’t be Autumn without the yield of green to orange, squirrels rushing to gather nuts and the sound of leaves blowing in the wind or crushing beneath a step. Trees can be a majorContinue reading “Treasuring Trees”
September ushered in 34 single family closings townwide as compared to 57 in September of last year in Greenwich (GR), Riverside (RV), Cos Cob (CC) and Old Greenwich (OG) according to the Greenwich MLS. While the number of single family closings was down for month, the average sales price was up a considerable 54% fromContinue reading “September Closings”
According to the Federal Emergency Management Agency (FEMA) floods are the nation’s most common and costly natural disaster. More than 20% of flood claims come from properties outside the high risk flood zone. FEMA maintains risks assessments in cooperation with local communities and publishes Flood Insurance Rate Maps (FIRM). Special Flood Hazard Areas (SFHA) areContinue reading “Flood Risk”
According to the United States Census Bureau, living arrangements have changed dramatically over the last decade. Young Adults (1834) are more likely to be living with their parents than any other arrangement. As reported in The Changing Economics and Demographics of Young Adulthood 1975 – 2016, the US Census Bureau found: More young people todayContinue reading “Young Adults Living with Parents Longer”
At the start of each school year I write a weekly touching on highlights for prospective buyers. The most sweeping change this year is the later school start times. Greenwich High School now starts at 8:30AM and dismisses at 3:15PM. Western, Central and Eastern Middle Schools start at 8:00AM and end at 2:50PM. Elementary SchoolsContinue reading “School Bell Time Changes”
Sales volume of single family homes in Greenwich was up 31% in the month of August compared to the same period last year. Eight sales in excess of $5 million drove the average price up 49%. There were 57 single family closings in August this year as compared to 65 in August of last yearContinue reading “August Closings Smile on Luxury Market”
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 bedroomsContinue reading “A Peek At Bedrooms”
There were 53 single family closings in July this year in Greenwich, which includes Greenwich, Cos Cob, Riverside and Old Greenwich, as compared to 69 in July of last year according to the Greenwich Multiple Listing Service. The average sales price ($1,985,000) was down for the month as compared to last year. That said, yearContinue reading “July Closings”
Single family sales in Greenwich, CT appeared to jump around wildly in June. In Riverside sales volume was up a whopping 269% on a 58% increase in the number of sales. While Riverside benefitted from seven additional sales in the month of June as compared to June of last year, Cos Cob was down sevenContinue reading “June Jumps Around”
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”