Research Online, with Discretion

Most searches for a home start online, which makes sense. It’s convenient, informative, and efficient. I use it. I like it. I also create bespoke searches for clients so (a) as purchasers, they can see immediately listings that meet their particular needs and desires or (b) as sellers, they can see sales comparables in theirContinue reading “Research Online, with Discretion”

2017 Home Sale Characteristics

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 objectiveContinue reading “2017 Home Sale Characteristics”

Holiday Events in Greenwich, CT

With so much to do in Greenwich during the holiday season targeting all types of ages, interests and levels of engagement, I thought I would provide a sampling of some in no particular order.  If you don’t live here yet, come visit!  See what’s its like to live in a diverse community with public andContinue reading “Holiday Events in Greenwich, CT”

Focusing on Closings

Year to date there have been 712 residential sales in Greenwich, CT, up 3%.   The median price is down 3%.  Single family sales are essentially flat, and the median price is up, yes, 3%.  Steady she goes. Or not! Focusing in, November residential sales were up 55%, according to the Greenwich Multiple Listing Service.  In addition,Continue reading “Focusing on Closings”

Townhouses

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 moreContinue reading “Townhouses”

Not Enough Ribbons

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 moreContinue reading “Not Enough Ribbons”

October Closings: Flat But Not Boring

October sales in Greenwich, CT were essentially flat with 40 single family homes closing this year as compared to 39 last year.  There were 14 condominium/cooperative sales, or two more than in October last year.  Year to date sales are also flat with 650 sales compared to 649 sales last year.  Single family home salesContinue reading “October Closings: Flat But Not Boring”

Property Taxes: The Basics

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”

Treasuring Trees

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 Closings

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”

School Bell Time Changes

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”

August Closings Smile on Luxury Market

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”

A Peek At Bedrooms

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”

Land Trades Mark Optimism

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 toContinue reading “Land Trades Mark Optimism”

July Closings

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”

June Jumps Around

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”

Map of Market Conditions

  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 contractContinue reading “Map of Market Conditions”

Renovations and May Closings

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”

Rules of Thumb, Variance and Agents

This week I took a look at year to date sales in Townwide Greenwich, which includes Greenwich, Cos Cob, Riverside and Old Greenwich, to see if any patterns are emerging for 2017 with respect to sales price, assessed value and original asking price. So far this year, there have been 213 single family sales reportedContinue reading “Rules of Thumb, Variance and Agents”

Open House Upsurge and Rental Review

It is Spring, and that means residential inventory for sale is typically at its peak. With potential buyers out and about, properties lush and green, and houses looking fresh and bright, it is a common time for open houses. Top that off with this year’s May calendar and it’s no surprise that there are aContinue reading “Open House Upsurge and Rental Review”

April Pauses

After a strong first quarter, April took a pause.  In townwide Greenwich, including Cos Cob, Riverside and Old Greenwich, there were 30 closings as compared to 38 in April last year, and there were 128 new listings, 23% fewer than last year. Rentals were also down marginally to 78 from 86 last year. There areContinue reading “April Pauses”

A Shift in the Rhythm of the Buying Process

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 GreenwichContinue reading “A Shift in the Rhythm of the Buying Process”

Affordability and Original List Price

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 thereContinue reading “Affordability and Original List Price”

Like a Lion

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 ofContinue reading “Like a Lion”

Back Country Color

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 awayContinue reading “Back Country Color”