Year End Report 2018

Sotheby’s International Realty Greenwich presents residential real estate year-end market highlights for Greenwich, Cos Cob, Riverside and Old Greenwich in a digital magazine: Featured in the special year-end report is magazine-worthy 138 Pecksland Road in Greenwich.  Call to see my listing and admire the new kitchen, bathrooms, bedrooms, windows, carriage house and architectural detailing throughout. Continue reading “Year End Report 2018”

December Sales

December is full of treats.  Some expensive ones and lots of little ones.  Sometimes we are ready to indulge, and sometimes we are ready to move on, start fresh in the new year.  We face decisions.  Buyers wonder. Does it matter that it’s just out of reach?  Is it worth it?  If only they wouldContinue reading “December Sales”

Marriage Trends

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”

Third Quarter Shifts Into Higher Gear

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”

September Closings

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”

August Closings

Single family home closings in Greenwich, Cos Cob, Riverside and Old Greenwich, CT were up 7% in August over the same period the prior year.  Closings generally reflect sales that occurred 30 to 90 days prior.  Compared to last August this year: The number of single family sales was up 7%. Sales volume was downContinue reading “August Closings”

While They’ll Come Back to Visit

Dropping college children off or saying goodbye at the airport isn’t easy.  We’ll miss them.  But we feel confident they will do well.  They have had the blessing of a superior education in Greenwich.  Sure the college application process was grueling, but that’s in part because there are so many highly qualified applicants from Greenwich. Continue reading “While They’ll Come Back to Visit”

The Land is Fundamental

No doubt an updated home with current floorplan is desirable.  And yet, that same house in different locations will have variable lifestyles.  And a similar lifestyle can be found in three very different houses within a few blocks of each other.  A house can be transformed to satisfy additional needs or wants – provided that the location allows for it and your lifestyle has time for it.  Houses can and do change.  The land endures.

Lamenting Housing Supply

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”

Average Property Taxes on Sold Homes

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 appreciationContinue reading “Average Property Taxes on Sold Homes”

Less Than Half an Acre

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”

Proceed With Care

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”