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”

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”

January Closings

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 toContinue reading “January Closings”

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”

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”

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”

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”